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Property



Tishman Speyer to Buy the ‘Lipstick Building’ 
Feb 2, 2004
Tishman Speyer Properties has contracted to buy 885 Third Avenue, the midtown office tower known as the "Lipstick Building." The building is being purchased...

In Progress: Broadway 655 
Feb 1, 2004
DEVELOPERS: Lankford & Associates Inc. LOCATION: San Diego SIZE: 410,000 sq. ft. COST: $140 million COMPLETION: Mid-2005 BUZZ: The 23-story tower is the...

Private Office Developers Blaze New Trail in Europe 
Feb 1, 2004
When Hines opened its first Moscow office in 1992, the company behind many of the world's finest modern office buildings operated out of a construction...

PricewaterhouseCoopers Subleases 800,000 Sq. Ft. in Manhattan’s 300 Madison 
Jan 19, 2004
PricewaterhouseCoopers has signed a long-term sublease for 800,000 sq. ft. at Brookfield Properties’ 300 Madison Avenue building. The $800 million deal...

Earle Mack Steps Down from Mack-Cali Board 
Jan 15, 2004
Earle Mack, a senior partner of the Mack Co., has resigned from Mack-Cali Realty Corp.’s board of directors. A statement from the company cited Mack’s...

Reckson Closes Purchase of 1185 Avenue of the Americas 
Jan 12, 2004
New York office REIT Reckson Associates has completed its acquisition of 1185 Avenue of the Americas in Manhattan. The 1.1 million sq. ft., Class-A property...

Silicon Valley Property Trades for More Than $100M 
Jan 9, 2004
Despite San Jose’s status as one of the nation’s weakest office markets, the city’s Opus Center has been sold to Equity Office Properties Trust for $103...

Law Firm Relocates from Midtown to Downtown Manhattan 
Jan 5, 2004
Midtown Manhattan law firm Morgan & Finnegan has signed a 100,000 sq. ft. lease at 3 World Financial Center. The lease gives the firm two full floors...

FOREST CITY RATNER PROPOSES $2B MIXED-USE PROJECT IN BROOKLYN 
Jan 1, 2004
An 800,000 sq. ft. arena in Brooklyn will be the focal point of a $2 billion urban infill project, provided that the New Jersey Nets agree to move to...

High Drama Over Chicago High-Rise 
Jan 1, 2004
The planned Trump International Hotel and Tower along the Chicago River faces a complicated set of issues to be sure: a lack of project financing, a weak...

Boston Feels Growing Pains 
Jan 1, 2004
Finding vacant land in Boston's dense Financial District is as likely as the Red Sox achieving postseason success. So it comes as no surprise that retail,...

Do I Hear a Bid? 
Jan 1, 2004
Last summer, real estate owner Roger Kellogg needed to sell several office buildings quickly. The Florida-based investor had located a replacement property...

Bank of America to Anchor Major Manhattan Office Project 
Dec 24, 2003
Bank of America has agreed to anchor a midtown Manhattan office development near Times Square. The 2.1 million sq. ft. office tower to be called One Bryant...

Planned Ground Zero Building To Be World’s Tallest 
Dec 22, 2003
It’s finally official — the first building to be developed on Ground Zero will be the 1,776-ft. "Freedom Tower." The building will boast 2.6 million sq....

Jamestown Management Closes $131M Office Acquisition in Atlanta 
Dec 10, 2003
A major Atlanta office complex has traded for $131 million, making it Atlanta’s biggest office sale of the year. Jamestown Management, a German property...

Canary Wharf Office Properties Sell For Nearly $2B 
Dec 8, 2003
London’s Canary Wharf office complex has sold two of its office blocks, raising approximately $1.9 billion. The Royal Bank of Scotland purchased two of...

11 Madison Avenue Sells for $675M 
Dec 5, 2003
An art deco office building in Manhattan’s Midtown South district has traded for $675 million, or roughly $310 per sq. ft. InvestorTamir Sapir of ZAR...

Investor Group Bags Enron Building for $55.5M 
Dec 4, 2003
Houston’s Enron Building has fetched $55.5 million from a group of investors. The 50-story glass tower was sold via private auction on Tuesday, but the...

On the Cusp of an Office Recovery? 
Dec 3, 2003
The third quarter brought hope to the embattled national office market: Grubb & Ellis reports that the national office market vacancy rate has stabilized...

OFFICE SQUEEZE PLAY 
Dec 1, 2003
Surging worker productivity is great news for the U.S. economy because ultimately it leads to job creation. But in the near term, high productivity gains...

The Dawn of a Slow Ascent? 
Dec 1, 2003
The chasm is no longer deepening in the U.S. office market, but the climb back to recovery could still be a long and precarious one. So say national office...

Disney Concert Hall Draws Applause in Los Angeles 
Dec 1, 2003
Just one month after its official opening, the $274 million Walt Disney Concert Hall in downtown Los Angeles already is being hailed as a major magnet...

Wells Poised To Buy Major Boston Office Tower 
Nov 26, 2003
It appears that Wells Real Estate Funds — sponsor of the Wells real estate investment trust — is the front-running bidder on a 1 million sq. ft. Boston...

Beacon Buys L.A’s Citicorp Center for $170M 
Nov 25, 2003
Beacon Capital Partners has acquired a prominent Los Angeles skyscraper. The Boston-based investment firm prevailed over a competitive field of bidders...

Georgia Tech Completes 1.5 Million Sq. Ft. Technology Square Project 
Nov 18, 2003
The Georgia Institute of Technology has completed its 1.5 million sq. ft. Technology Square development, a mixed-use, urban redevelopment project in Atlanta's...

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