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NYC Ranks Low Among World's Most Expensive Offices

2012-07-18T06:16:00Z

New York might be among the most iconic cities on Earth to rent an office in and London might be second-best. But in fact, neither of these landmark locations is the most expensive place to work in the world.

According to the latest information from CB Richard Ellis, midtown New York falls down to position 18 in the global ranking and downtown New York comes in even lower at number 41. London, on the other hand, comes in at second most expensive for its famous West End district and City of London comes in at number 10.

The most expensive working place in the world is a title that belongs to Hong Kong (pictured) – where the cost of office space far exceeds that of the rest of the world.

In fact, most of the top ten expensive and prestigious places to work are in Asia, fuelling beliefs that the continent is well on its way to becoming to next ultimate global power.

The Most Expensive Cities in the World

The Top 20 on the list identified by CB Richard Ellis is as follows:

1. Hong Kong (Central); 2. London (West End); 3. Tokyo; 4. Beijing (Jianguomen); 5. Moscow; 6. Beijing (Finance Street); 7. Hong Kong (Kowloon); 8. São Paulo; 9. New Delhi (Connaught Place); 10. London (City); 11. Shanghai (Puxi district); 12. Rio de Janeiro; 13. Mumbai (Bandra Kurla); 14. Paris; 15. Sydney; 16. Singapore; 17. Shanghai (Pudong); 18. New York (Midtown); 19. Geneva; 20. Mumbai (Nariman Point)

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Social Network Moves HQ to San Francisco

2012-07-10T05:17:00Z

The increasingly successful image-based social network, Pinterest, has established new offices in San Francisco, California.

Pinterest will be relocating from existing offices in Palo Alto to increase space in the short-term for what is turning out to be a significant expansion.

“(Pinterest) is currently finalizing plans for a long-term home in the SoMa neighborhood and has signed a short-term lease for space in the area to accommodate immediate growth,” said an official statement from the office of the Mayor Ed Lee.

The social network has risen to fame in recent months, having been established in 2008 but more recently grown into massive popularity through the United States and the world. For the month of May 2012, Pinterest reported the generation of $100 million.

The neighborhood around Brannan Street in SoMa has been a-buzz with rumors and speculation in recent months, watching the building undertake a mysterious transformation, complete with signage for Pinterest and the company that owns it, Cold Brew Labs.

CEO Ben Silbermann has officially confirmed the move through the Mayor’s office, although it is unknown when the social network will be moving lock, stock and barrel into the city that continues to attract more and more start-up technology ventures.

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Green Garage: Future Detroit Working Space

2012-06-25T10:44:00Z

Detroit is a city held as a symbol of economic downfall, having fallen fast and hard from the days when its automotive industry dominated the US and the world.

But the reality is a little different.

There is a revolution in entrepreneurialism and co-operative working taking place in Motown today – one that may put the city’s clunky motoring past to bed and reawaken Detroit to a new digital dawn.

One example of this is on Second Avenue in an abandoned automobile showroom. In 2011, this building was reopened as a futuristic co-working space for environmental start-ups.

The Green Garage was founded by Tom and Peggy Brennan as one of the now numerous shining examples of the diamonds in the rough of Detroit – the living, modern workspaces growing among the derelict remains of another century.

Tom Brennan once worked at one of the world’s largest and most successful consultancy firms, rubbing shoulders with the faces you see on the Fortune lists. Now he’s working out of a small ex-garage in Detroit. Why?

“Small is big,” insists Mr. Brennan. “We think that it’s the cumulative effect of all the small changes that is really going to be the big thing.”

Upon purchase, the Brennans cut the 11,500 square foot building’s energy consumption by 90%; then they opened the doors to twenty small businesses and start-ups.

Today, tenants at the Green Garage work with the community, help maintain the building and support one another’s ideas – many of which revolve around the regeneration of Detroit.

Why Detroit?

• In 2011, Automation Alley commissioned a survey that found Detroit to be the fourth biggest technology employer in the United States.

• Detroit has a large free Wi-Fi zone to encourage and support smaller businesses and start-ups working without internet connections.

• Of the world’s biggest employers, five began life as start-ups in Detroit.

View offices to rent in Detroit.

New York Times HQ in New Lease of Life

2012-06-21T05:37:00Z

Rumors that Facebook and Microsoft are interested in office space at the New York Times building are just the beginning of what could be a ‘cool’ revolution for the century-old newspaper HQ in Times Square, Manhattan.

Report suggest that inside the building scooters, ping pong tables and a basketball court are in place to attract a new generation of tenants – social media players.

The top twelve floors of the New York Times building are owned by the Blackstone Group. VP of NY Leasing, Josh Glick, had this to say on the group’s efforts to attract a new breed of lease away from the bright lights of Soho, Flatiron and Chelsea.

“We’re trying to show that the building is iconic, but also fun. A lot of decision-makers are coming through and saying I can not only house my business here, but I can transform my business.”

One of perhaps the most enticing offers on the table to draw in the likes of Facebook and Amazon is the opportunity to replace the iconic ‘New York Times’ branding across the front of the building with a company’s own brand name.

This combined with the open plan and epic proportions of the building, the stunning and original features and the tall, dominating windows make this cathedral-like New York landmark a potential catch for a power-hungry start-up or massive social corporation.

Times Square may not yet be an area of Manhattan synonymous with new age technology firms, but it is already the home of LinkedIn and Viacom.

If the rumors are true then Facebook, Amazon, Microsoft or any of the major advertising agencies who are reported to have shown interest in the New York Times HQ would be cementing rather than establishing this area of Manhattan as an up-and-coming digital district.

View Midtown office space to rent in NYC.

Heavyweights Seek More Manhattan Office Space

2012-06-11T08:36:00Z

Heavyweight real estate tenants Facebook and Microsoft are reportedly on the hunt for new office space in Manhattan.

Already occupying around 210,000 sq. ft. of office space in the district, both firms will reportedly increase their office space requirements to over 300,000 sq. ft. – although no one seems sure how advanced the searches are.

While it is understood that Microsoft will increase its presence from 174,000 sq. ft. to around 200,000 sq. ft. – Facebook could more than treble the amount of office space it currently occupies in Manhattan, rising from 40,000 sq. ft. to anywhere between 100,000 – 150,000 sq. ft. according to news agency Reuters.

The expansion of these two global brands highlights the role of NYC as growing incubator for tech based firms – with the number of jobs generated by this sector having reportedly increased by 29% in the past 5 years.

Clustered around Midtown, the 52,000+ jobs created by the tech sector have no doubt been fuelled by the presence of firms such as Microsoft, Facebook and Google.

But while these global brands make the headlines, the tech-fuelled sector of NYC has also been aided by new start-ups – with no fewer than 486 new-start firms in the digital sector being created in the city since 2007.

Premier Business Centers Announces New Suites

2012-06-06T06:12:00Z

Executive suite provider, Premier Business Centers, has announced the upcoming launch of new executive suites on Sansome Street, San Francisco in the heart of the city’s Financial District.

The 67-office floor of the Citigroup Center will be Premier Business Centers’ third location in San Francisco, providing local businesses with up to 17,500 square feet of new office space to rent.

Surrounded by a wealth of dining and retail facilities and featuring an on-site gym and bank, Premier Business Centers is confident the location will provide businesses with the professional, central location they need.

“We are very pleased to have acquired an executive office suite with spectacular views of the Pacific Ocean, the Golden Gate Bridge, the San Francisco Bay, the Bay Bridge, and Alcatraz,” says CEO Jeff Reinstein.

“Not only is this prime location ideal for business professionals, it also offers direct elevator access to BART and Muni which is an exceptional perk for commuters.”

The offices at this Class A, LEED Gold Certified high rise are due to be available in July 2012 for business to rent executive suites, meeting rooms and virtual office space.

Are you looking for office space in San Francisco? Browse 1000s of listings for free at us.officebroker.com.

Report Finds US Workers Overstressed

2012-06-06T05:01:00Z

A report released by the Families and Work Institute has found that one in three employees in the USA feel the pains of chronic overworking.

54% have felt overwhelmed by their volume of work in the last month and 29% believe at least part of that work to be timewasting.

12% of workers who feel they cannot cope with their workload suffer from the symptoms of clinical depression.

Although 85% of people who go away on vacations of 7 days or more come back feeling refreshed along with 65% of people who take off 3 days or more, an incredible 36% of US workers have no intention of taking time off at all this year.

“Ironically, the very same skills that are essential to survival and success in this fast-paced global economy, such as multitasking, have also become the triggers for feeling overworked,” explains President of the Families and Work Institute, Ellen Galinsky.

“Being interrupted frequently during work time and working during non-work times, such as while on vacation, are also contributing factors for feeling overworked.”

The report identified the key signs of intense overworking present in so many respondents, including:

• 56% suffer from lack of focus due to too many different tasks or too many interruptions;

• 89% feel there is not enough time in the day to complete their work;

• 44% of respondents in contact with work out of hours felt overworked.

Do you suffer from overworking in the 21st century? Tell us about your experience in the comments below.

Study Finds More Bacteria in Men’s Offices

2012-06-01T07:09:00Z

A new study has found that offices in New York City are home to more bacteria than offices in San Francisco – and that men’s offices have more bacteria than women’s.

The report was published by the PLos One journal, revealing that the study looked into bacteria present in over 90 different offices based in very different areas of the US – namely, San Francisco, CA, New York, NY and Tucson, AZ.

Looking at chairs and desks as well as computer and phone equipment, the finding reported as much as 10%-20% more bacteria in the offices of men than those of women.

“It could be men are just bigger — they have bigger mouths and more surface area — but it could also be that men are less hygienic,” said microbiologist Scott Kelley of San Diego State University.

Across the United States, the diversity of the bacteria that comes from human skin or saliva or soil appeared to be almost identical.

“It’s a baseline of what a healthy, normal situation is like,” he said. “These were just regular office buildings, where we have no evidence that people are getting sick. But if we do have a sick building, we can now look at what’s going on there.”

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Google Offers Free Office Space to Cornell

2012-05-23T05:36:00Z

Over 20,000 sq. ft. of office space will be provided for free by Google at it Manhattan HQ to Cornell University, with the collaboration being labelled a ”significant commitment” by Chief Executive Larry Page.

Part of a new approach to training students for a career in an increasingly competitive economy, it is hoped that the move will create a “mixing bowl” of academic and industry research – with mentors from both areas being made available to those students enrolling at the New York office campus.

The decision to donate office space to the world of academia, initial scheduled to last 5 years, has helped to highlight New York as a growing hub for technology based firms – with other leading names such as Facebook and Twitter having all creating engineering focused office in NYC during the last few years.

According to an online report, it is hoped that this collaboration will help to position NYC as the second biggest hub for technology companies outside of Silicon Valley – if it is able to push aside Boston.

“We don’t like being second to anybody,” explained Mayor Bloomberg . “Google, Cornell and NYC tech are going to help us seriously close that gap.”

“The distinctions that used to exist no longer exist anymore today,” Bloomberg said. “Things are founded in universities and developed by the private sector. That’s what America, society, is all about in this day and age.”

Iconic Chicago Office Tower in Planning

2012-05-18T05:36:00Z

A 45 floor office building will be joining the Chicago skyline in 2016, as plans are announced for ‘River Point’ which will be owned by Canadian pension giant, Hines.

The $300 million project will be the biggest in five years for downtown Chicago and will sit on the banks of the Chicago River on Lake Street.

It will provide a massive 900,000 square feet of new office space in Chicago.

Although no tenants have yet signed to the new building, demand in the area has been increasingly high and regional commercial property experts are confident that occupancy will encounter no roadblocks.

“There’s a little more optimism about the downtown area over the last year,” James Kutill, VP of Chicago business, Appraisal Research Counselors, told Bloomberg in a telephone interview. “Definitely more than the suburban markets.”

Building at River Point is expected to begin before the end of 2012 and although no leases have yet been secured, must interest is rumored from local businesses.

Find out more about recent developments in downtown Chicago or browse executive office space to rent in Chicago online through us.officebroker.com.