officebroker.com Blog | January 2010

MicroStrategy leases office space in Towers Crescent

Published by Billy on Sunday, January 31 2010 at 9:46 PM

MicroStrategy Inc, a business intelligence software firm, has leased office space in McLean, VA at Towers Crescent. With this move, Northrop Grumman will be marking this possibility off their list as a possible location to relocate their headquarters.

River’s Edge office building goes green

Published by Jamie on Friday, January 29 2010 at 10:40 PM

The first office building at River’s Edge has received LEED certification for its energy efficient design.

Affinion Group subleases space at High Ridge Park

Published by Sarah on Friday, January 29 2010 at 12:21 AM

The Affinion Group, creators of customer engagement solutions, have subleased office space in Stamford, CT, in the newly renovated High Ridge Park.

Ronin Capital moves out of Central Loop

Published by Sarah on Wednesday, January 27 2010 at 9:36 PM

Ronin Capital, LLC, a propriety trading firm, is moving their Chicago office headquarters from the Federal Reserve Building to 350 N. Orleans.

Orange County skyscraper attempts to recruit government offices

Published by Billy on Tuesday, January 26 2010 at 11:33 PM

An Orange County developer who is looking to develop the area’s largest skyscraper has approached county officials in an attempt to recruit office space.

Tech BizSolutions moves to new HQ to Boulder

Published by Jamie on Monday, January 25 2010 at 9:43 PM

Biz TechSolutions relocates their headquarters to Boulder from Longmont, and doubles size of office space.

Ohio anticipates sees opportunity for investors

Published by Jamie on Sunday, January 24 2010 at 9:06 PM

Ohio's Smith Realty Partners have released their annual report on the state of the commercial real estate industry. And while many feel the recession is over, the report finds that, for the industry, it's going to be an uphill battle to regain their footing.

Pittsburgh architecture firm looking to sublease space

Published by Sarah on Saturday, January 23 2010 at 6:22 PM

Butler-based architecture firm, Burt Hill, is seeking to sublease their office space in downtown Pittsburgh.

McKool Smith takes new office space in Austin

Published by Billy on Friday, January 22 2010 at 9:08 PM

Dallas-based law firm expands office in Austin, widening their U.S. footprint.

Milwaukee law firm outgrowing office space

Published by Jamie on Thursday, January 21 2010 at 11:36 PM

Von Briesen & Roper S.C, a law firm based in downtown Milwaukee, is outgrowing their current office space and putting out the feelers for an upgrade. Once the firm went public with their interests last fall, the proposals came pouring in.

CEC leases new office space in Schaumburg

Published by Sarah on Wednesday, January 20 2010 at 10:35 PM

Career Education Corporation (CEC) has recently leased office space in Schaumburg, IL. The company is planning on occupying the 317,819 square foot facility by December 2010, according to RE Journals.

USF vacates office space

Published by Billy on Tuesday, January 19 2010 at 11:43 PM

The University of South Florida announced they will be vacating office space in Tampa’s Joseph Garcia International Center in June. The Tampa Port Authority has approved to hire real estate firm, Colliers Arnold to lease the empty space.

Silicon Valley office vacancies continue to rise

Published by Jamie on Monday, January 18 2010 at 9:38 PM

As officebroker.com has been tracking, rising unemployment rates are directly correlated with rising vacancy rates for office space nationwide. And in areas where business is compartmentalized, vacancy rates can act like a blackhole for commercial real estate. A prime example: Silicon Valley in San Jose, CA.

Israeli diamond firms purchase office space in New York City

Published by Sarah on Sunday, January 17 2010 at 4:52 PM

Extell Development Company announced today that four of the top Israeli diamond firms have collectively purchased office space in New York City’s new International Gem Tower on 47th Street. The companies have leased a total of 15,000 square feet of Class A office space in the 34-story building.

Kellogg leases space downtown Battle Creek

Published by Jamie on Saturday, January 16 2010 at 1:48 PM

Just southeast of Grand Rapids, MI, downtown Battle Creek is ready to welcome Kellogg after years of anticipation.

Demand for office space increases in Milwaukee

Published by Billy on Friday, January 15 2010 at 6:50 PM

Demand for office space in Milwaukee continues to increase and developers start competing for the best spot for a new build out.

Office space vacancy in Jersey begins to decline

Published by Billy on Thursday, January 14 2010 at 10:53 PM

New Jersey can breathe a slow sigh of relief as office vacancy numbers roll in for the end of a grueling 2009. While number stagger nationwide, Jersey’s vacancy rates decreased just slightly from 22.9 percent to 22.6 percent, according to New Jersey Business News. The decrease in availability is the first since the beginning of 2008.

Pension fund seeks to sell Dallas office complex

Published by Sarah on Wednesday, January 13 2010 at 9:30 PM

One of Dallas’ largest suburban office complexes is officially on the market. New York-based pension fund TIAA-CREF has decided to sell the three-building Lincoln Centre development at LBJ Freeway and the Dallas North Tollway.

Business condo developers find niche

Published by Sarah on Tuesday, January 12 2010 at 7:39 PM

In the last two years, office space in Hartford has seen a steady increase of abandoned space, with an inability to subsidize with new leases or purchases. With stakes this high, any new development would be a risky investment. However, one developer is not only predicting a change of tides, but he’s predicting a shift in real estate demands.

The myth that follows green upgrades

Published by Jamie on Monday, January 11 2010 at 9:20 PM

There is no question that “Green” has spread across the commercial, and even residential, real estate industry. With high hopes of energy savings, some of the largest buildings in the world are converting to more efficient energy systems. However, since the economical downward spiral began, more and more companies are conserving money instead of energy, and reports are indicating now is the time to do the exact opposite.

Austin received #1 spot for commercial real estate investments

Published by Jamie on Sunday, January 10 2010 at 8:48 PM

In a report released on Monday by Grubb & Ellis, Austin came in the top spot for U.S. cities to invest in commercial real estate.

Amazon.com seeks additional Seattle office space

Published by Billy on Saturday, January 09 2010 at 11:16 PM

Though Amazon.com is set to move into new office space in Seattle by year's end, the online retailer is looking for an additional 200,000 square feet of office space.

Washington, DC office rents about to pass New York’s

Published by Sarah on Friday, January 08 2010 at 5:10 PM

When CB Richard Ellis (CBRE) released the top 50 global index for most expensive cities for office space, New York landed at #24. Washington, DC trailed as the next US city in 50th. For the start of the new year, the tides are beginning to change.

Terrazzo in the Gulch welcomes marketing firm

Published by Jamie on Thursday, January 07 2010 at 9:29 PM

Crosland Tennessee just signed a lease with Catapult Marketing for an 8,000 square foot property in Terrazzo in the Gulch, according to Bizjournals.com.

Pittsburgh vacancies forecasted to slow

Published by Billy on Tuesday, January 05 2010 at 5:06 PM

Grubb & Ellis released their 2010 Real Estate Forecast today and predicted the vacancy rates will slow down for office space in Pittsburgh, with hope of a recovery by early 2011. Pittsburgh is one of the few markets nationally that has weathered the economical storm better than some, primarily because development of new office space has been relatively low.

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