It’s one of those winter days in the Bay Area where winds and a downpour are going to make that sprint from the parking lot to your office building a wet mess. If only the adjacent parking garage had any spaces. Lucky for you, you’re on speaking terms with the building. Yes, the building. It tells you that there are two spaces unfilled and one of them is near the fourth-level elevator. That “conversation” is not science fiction. And that isn’t all that a “smart” building might tell its tenants and owners. “There are a couple of trends we see in the industry,” said David Marks (pictured), … [Read more...]
United States Industrial Market Signals Strength
Prologis, Inc. (NYSE: PLD), the leading global owner, operator and developer of industrial real estate, recently published an in-depth analysis of the United States industrial real estate market in a paper titled “The Shape of the U.S. Industrial Recovery.” In the report, the company’s research team points to a strengthening of the industrial market with the recovery transitioning into expansion. They believe this is driven by three key factors: - Effective rents expected to rise 25% over next four years; - Pent up demand: Exhibited by strong net absorption in the fourth quarter and … [Read more...]
Office Vacancy Declines in Major Markets
Office vacancy rates declined or held steady in most major U.S. markets during Q1 2013, according to preliminary data from CBRE Group, Inc. Six of the 12 largest markets showed declines in office vacancy, led by Denver and San Francisco, while two markets remained stable. Industrial availability continued to decrease moderately in major U.S. markets as well. Read the full story here: The Registry … [Read more...]
73 Office Buildings Acquired in Silicon Valley
Ivanhoé Cambridge Acquires 73 Office Buildings in Silicon Valley with Partners TPG and DivcoWest Montreal, Quebec, March 20, 2013 – Ivanhoé Cambridge continues to develop its U.S. office portfolio and announces an investment in California’s Silicon Valley region through the acquisition of 73 office buildings in partnership with affiliates of TPG and DivcoWest, who jointly led the transaction which closed in late December 2012. This opportunistic investment provides the partners with immediate access to 6.4 million square feet of leasable space with a very attractive potential long-term … [Read more...]
Nvidia to Build Silicon Valley’s Latest Wonder
The 250,000-square-foot floor plans envisioned for Nvidia’s new Santa Clara campus take to another new degree the rising corporate emphasis in the Bay Area on creating idiosyncratic workspace to fit specific business needs. Electronic circuit-maker Nvidia Corp. said Feb. 20 that it intended to build a one million square-foot corporate headquarters expansion in two triangular buildings on a 24-acre site across from its existing campus at 2701 San Tomas Expressway. Read the full story at The Registry here. … [Read more...]
Expanding Santana Row Office Offerings
Federal Realty Investment Trust is reconceiving the configuration of its wildly popular Santana Row development in San Jose to emphasize greater office use. The Maryland-based real estate investment trust is pursuing plans to build 690,000 square feet of offices on three sites, including two existing surface parking lots within the 42-acre redevelopment’s existing footprint and a third site it is acquiring. Read the full story in The Registry here. … [Read more...]
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