Chinese Buyer Acquires Midtown High-Rise in Off-Market Purchase
MHP Real Estate Services announced the acquisition of 850 Third Avenue, in partnership with Chinese conglomerate HNA Property Holdings, from previous owner Shorenstein Properties. MHP will be the operating partner of the joint venture, with HNA serving as majority partner. The off-market purchase of the 617,000-square-foot office building, located between East 51st and 52nd streets, […]
JEMB Repositions 75 Broad Street, Retains NGKF as Leasing Agent
New York City-based JEMB Realty, a privately held real estate development, investment and management company, has retained Newmark Grubb Knight Frank as leasing agent for 75 Broad Street as part of a repositioning effort for the 35-story, 750,000 SF office property. The repositioning project will include lobby enhancements, state-of-the-art pre-built space and common corridor and […]
Largest Tenant in Manhattan’s Largest Office Tower Renews Lease
McGraw Hill Financial has renewed its 900,027-square-foot lease at New Water Street Corp.’s 55 Water Street in Downtown Manhattan. The multi-year renewal includes the entire 34th through 46th floors—along with a portion of the concourse and 52nd floor. “This lease renewal is the culmination of our efforts to upgrade 55 Water Street via a significant capital improvement plan,” […]
New Ownership Has Big Plans for Chicago’s Historic One North LaSalle
Hilco Real Estate and two senior executives of MB Real Estate Services, Peter Westmeyer and Kevin Purcell, have acquired the historic landmark tower One North LaSalle located in Chicago’s Central Loop. The new joint venture announced that the 47-story property will be undergoing an extensive redevelopment effort to introduce a variety of high-end tenant amenities. […]
Chicago’s 111 South Wacker Earns LEED Platinum Certification
Chicago’s 111 South Wacker, a 51-story, 1.1 million-square-foot Class A office tower, has been at the forefront of LEED certification since its completion in 2005, when the building became the first speculative, high-rise office development awarded LEED Gold certification in the Core & Shell category from the U.S. Green Building Council (USGBC). The building was […]
Renovations, New Leasing Agent at FiveOneFive North State Street in Chicago
Big changes are underway at FiveOneFive North State Street in Chicago. The 29-story, Class A high-rise located in the River North submarket, is in the midst of a major renovation and has just been assigned a new leasing agent. On behalf of the property owner, BCSP 515 North State Street LLC, an affiliate of Beacon Capital Partners […]
Transamerica Pyramid to Light up the Night as the Big Game Comes to Bay Area
The Transamerica Pyramid is taking the celebration of the Super Bowl, coming to Santa Clara, CA on February 7th, to the next level with special lighting of celebratory colors from February 1 – February 7. At 853-feet-tall, The Transamerica Pyramid is the tallest skyscraper in the San Francisco skyline. Designed by architect William Pereira and built by Hathaway […]
San Francisco High-Rise Unveils LED Video Wall Public Art Installation
A state-of-the-art, high-resolution LED video wall was recently unveiled at 350 Mission Street in San Francisco as part of a digital art show organized by Kilroy Realty Corporation. For the event, titled “Virtual Depictions: San Francisco,” Kilroy Realty and the City of San Francisco commissioned acclaimed media artist Refik Anadol to create an immersive public […]
TMG Partners Buys 18-Story Oakland Office Tower, Plans Major Upgrades
TMG Partners, one of the San Francisco Bay Area’s largest mixed-use property developers, today announced their purchase of 1330 Broadway in Oakland. TMG purchased the property from Zimmerman Investments. 1330 Broadway is an 18-story, 300,000 square-foot building with immediate access to BART at Oakland City Center’s 12th Street Station. The aluminum-clad tower was built in 1958 […]
Otis Elevator to Provide 22 Elevators for Prominent Seattle High-Rise
Otis Elevator has entered into a multimillion-dollar agreement with Schnitzer West to supply elevators and escalators for Madison Centre, a prestigious 37-story high-rise development in Seattle. This high-tech, LEED Gold certified tower is located at one of Seattle’s best known intersections and will incorporate the latest innovations in workplace effectiveness and smart design for an […]
Carey Watermark Acquires High-Rise Hotel in Booming Bellevue Market
Carey Watermark Investors 2 Incorporated (CWI 2), a non-traded real estate investment trust (REIT) focused on investing in hotels, has acquired the Seattle Marriott Bellevue. The newly developed hotel includes 384 guestrooms and is located in Bellevue, Washington, which has evolved from a Seattle suburb into a vibrant, independent city as a result of the high-tech […]
Urban Renaissance Group Acquires Four Portland High-Rise Office Towers
Urban Renaissance Group (URG) has acquired the operating portfolio of Portland-based real estate company Langley Investment Properties (LIP). With this acquisition, URG’s total operating platform is now more than 10 million sq. ft. in Portland, Seattle and Denver. Going forward, LIP will refocus its efforts on new investment and development opportunities as well as related […]
Gemini Rosemont Acquires High-Rise Office Tower in Downtown San Diego
Santa Fe, New Mexico-based Gemini Rosemont has acquired the 19-story 610 West Ash commercial office building in San Diego. The acquisition of the office tower adds 177,489 rentable square feet of Class A office space to the company’s portfolio. The company now owns 114 buildings in 21 states across the U.S. The building was purchased […]
Talent Agency ICM Takes Top 5 Floors in Century City High-Rise
ICM Partners is expanding its Los Angeles corporate headquarters in Century City. The talent and literary agency will remain at the same address, 10250 Constellation Boulevard, also known as Constellation Place, but will relocate from its current three-story space on floors 7, 8 and 9 to the top five floors of the 35-story high rise. […]
Glass Slide Airlifted into Place atop Los Angeles’ US Bank Tower
On Saturday, US Bank Tower’s newest attraction, an all-glass slide, was airlifted via helicopter onto the 69th floor observation deck at the iconic high-rise in downtown Los Angeles. Opening on June 25, 2016, OUE Skyspace LA will be California’s tallest open-air observation deck and the premiere destination for 360-degree views of Los Angeles. In addition […]
Boston’s Two Liberty Square Sold for $28 Million
Philadelphia-based CenterSquare Investment Management has sold Two Liberty Square, a 67,609-square-foot office building in Boston on behalf of one of its institutional clients for $28.25 million. CenterSquare acquired the asset for $18 million in 2013. HFF arranged the sale and secured a 10-year, fixed-rate loan through SunLife for the buyer, Boston-based The Winhall Companies. The […]
16-Story West Loop Chicago Office Tower Trades Hands for $135 Million
Boston-based AEW Capital Management has acquired a 16-story Class A office tower in Chicago’s West Loop for $135 million. The seller, Northwood Investors, was represented in the transaction by HFF. Northwood acquired control of the property in 2012 in a transaction that valued the building at $95 million. At the time, the seller, a tenancy […]
Skanska Celebrates Groundbreaking for Boston’s 121 Seaport
Skanska USA Commercial Development, joined by Boston Mayor Martin J. Walsh and CBT Architects, broke ground this week on the city’s newest office tower - 121 Seaport - a 17-story, 400,000-square-foot Class-A office building with two floors of retail - in Boston’s Seaport District. Located at the corner of Seaport Boulevard and East Service Road, […]
JMJ Raising Money for Construction of San Antonio Residential High-Rise
Dallas, Texas-based developer JMJ Development, led by principal Tim Barton, is planning to build a 30-story residential high-rise in supply-constrained San Antonio. Villita Tower will contain 201 market rate units overlooking San Antonio’s iconic River Walk on the San Antonio River. Colliers International’s structured finance team of Jeffrey Donnelly and Ulrike Ahrens has been retained to source $47 million in debt and […]
High-Rise Apartment Tower to Be Built in Texas Medical Center
Greystar and Medistar Corporation have formed a joint venture to develop Ascent Med Center, a luxury apartment community located in Houston, Texas. The 35-story high-rise development will feature 375 apartment homes at the corner of Travis Street and Old Main Street in the Texas Medical Center (TMC). “Ascent Med Center was designed with a top-notch amenity package, high […]
Groundbreaking for 58-Story Downtown Austin Luxury Condo Tower
The development team of Aspen Heights, Constructive Ventures and CIM Group have broken ground on The Independent, a 58-story, 370-unit condominium tower in downtown Austin. Located at the corner of West 3rd Street and West Avenue, the property was acquired from the City of Austin in November 2015 under the terms of a Master Development […]
Powerhouse Los Angeles Ad Agencies Lease Space in Dallas’ McKinney & Olive
Crescent Real Estate Holdings has achieved a major coup by leasing space to two Los Angeles-based advertising agencies expanding into Dallas. The new tenants, Saatchi & Saatchi and Team One, have agreed to lease a minimum of 52,000 square-feet in McKinney & Olive, Crescent’s newest high-rise office tower in Dallas’ Uptown. Saatchi & Saatchi is […]
JMJ Raising Money for Construction of San Antonio Residential High-Rise
Dallas, Texas-based developer JMJ Development, led by principal Tim Barton, is planning to build a 30-story residential high-rise in supply-constrained San Antonio. Villita Tower will contain 201 market rate units overlooking San Antonio’s iconic River Walk on the San Antonio River. Colliers International’s structured finance team of Jeffrey Donnelly and Ulrike Ahrens has been retained to source $47 million in debt and […]
Quadrant Investment Properties Acquires Saint Paul Place in Dallas
Dallas-based Quadrant Investment Properties (QIP) has acquired Saint Paul Place, a twenty‐two story, 273,217 square‐foot office building located on the corner of Ross Avenue and Saint Paul Street in the Dallas Arts District. The building is currently 78% leased to a diverse roster of small to mid‐sized tenants including D‐Magazine, Crowe Horwath and Sendero Business […]
Shorenstein Acquires Downtown Pittsburgh’s One Oxford Centre
Oxford Development Company has sold One Oxford Centre, a one million-square-foot, Class A, trophy office tower in downtown Pittsburgh, to Shorenstein Properties. HFF marketed the property and worked on behalf of the new owner to place the acquisition loan with Helaba and CIBC. While no terms were revealed, the firm is believed to have paid […]
Groundbreaking for Center City Philadelphia Residential High-Rise
The Goldenberg Group of Philadelphia, international real estate firm Hines, and ASB Real Estate Investments, today celebrated the groundbreaking of a new Class A residential tower at 1213 Walnut Street in Center City, Philadelphia. The project represents the first venture by the partnership of Goldenberg, Hines and ASB. 1213 Walnut will be a 26-story 300,000-square-foot, […]
Newly Built Philadelphia High-Rise Apartment Tower Sold for $51 Million
AQ Rittenhouse, a newly constructed, LEED Silver certified, 110-unit high-rise apartment residence, located in Rittenhouse Square, has been acquired by LaSalle Investment Management for $51.1 Million. The sale of AQ Rittenhouse was the first transaction of its kind for ARA Newmark in Philadelphia since the company was acquired by BGC Partners, Inc. in December 2014. The NGKF […]
New York Buyer Acquires Miami’s Courthouse Tower in Off-Market Sale
Downtown Miami’s landmark Courthouse Tower has been sold to New York real estate private equity firm Brickman for $27.5 million. Mika Mattingly of Sterling Equity Realty’s Mika Miami team represented the seller, Courthouse Towers LLC, which is owned and operated by The Donovan Family. RFK Senior Directors Benjamin Mandell and John Ellis represented the buyer. […]
New Leasing Agent for Iconic Limestone Office Tower in Tampa
CBRE has been appointed exclusive leasing agent for Rivergate Tower – the landmark, cylindrical high-rise office building located at 400 North Ashley Drive in Tampa, Florida. Miami-based Banyan Street Capital acquired the 31-story tower in August 2015 with plans to be at the forefront of Tampa’s emergence as a top destination for corporate relocations as […]
Coworking Firm Takes Full Floor in Downtown St. Petersburg High-Rise
In the year since acquiring First Central Tower, Feldman Equities has leased over four full floors at the office building signing seven firms to leases totaling over 100,000 square feet. In the latest deal Regus, the global workplace provider, has leased a full floor, 15,296 square feet, at the building. The long term lease was […]
Atlanta’s 36-Story Centennial Tower Sold for $69 Million
Durham-based The Dilweg Companies, a commercial real estate investment and management firm, has acquired Centennial Tower, a 652,092 square-foot office tower in downtown Atlanta from Jackson Corporate Real Estate for $69 million. Centennial Tower is a 36-story, Class A office building located in the heart of downtown Atlanta at 101 Marietta Street. The building is […]
Cousins Properties to Develop New Midtown Atlanta High-Rise
Cousins Properties has signed a 15-year build-to-suit lease with NCR Corporation, a leader in consumer transaction technologies, for the company’s world headquarters building. Known for developing Atlanta high-rise such as the 55-story Bank of America Plaza and the 50-story One Ninety One Peachtree Tower, beat out real estate companies including Houston-based Hines and Atlanta-based Carter. […]
Atlanta High-Rise Student Housing on Track to Open in August 2015
University House Communities (UHC) announced today that as construction is nearing completion on University House Midtown, the student apartment community at 930 Spring Street is 100 percent pre-leased. In August, the community will welcome its first residents for the 2015/2016 school year, serving students from the Georgia Institute of Technology. The 20-story building, which features […]
Otis Elevator to Provide 22 Elevators for Prominent Seattle High-Rise
Otis Elevator has entered into a multimillion-dollar agreement with Schnitzer West to supply elevators and escalators for Madison Centre, a prestigious 37-story high-rise development in Seattle. This high-tech, LEED Gold certified tower is located at one of Seattle’s best known intersections and will incorporate the latest innovations in workplace effectiveness and smart design for an […]
KONE Teams Up with IBM for IoT Cloud Services and Analytics
In an effort to transform its elevator and escalator operations and technology capabilities around the world, KONE will be using IBM’s technology and experience to harness the potential of digitalization and the Internet of Things (IoT). KONE will use IBM’s Watson IoT Cloud Platform to collect and store equipment data, build applications and develop new […]
What to Do if You’re in a Stalled Elevator
Though elevator accidents are very rare, in light of a few recent tragic and highly publicized incidents involving stalled elevators, it is important to restate the many measures the building transportation industry undertakes to provide a consistently high standard of safety. Building owners and managers should make sure their tenants understand these safety guidelines to reduce […]
Startup Provides Workplace Access Control Using Smartphone
Consumers are using their smartphones to board planes and purchase groceries and now they can extend this reach to the workplace with keyless access control. One of the start-ups leading the mobile access control movement is Kisi Inc., a provider and developer of a cloud-managed keyless access control system. Bernard Mehl cofounded Kisi in Germany […]
Seattle Residential High-Rise Installs Biometric Access Control
Wood Partners has installed a biometric access control system in their new luxury high-rise building, Dimension by Alta, located in Seattle. Instead of having to fumble for cards or fobs, all residents have to do to enter and move through the secure property is scan their finger. Situated in Seattle’s vibrant Belltown district, this high-end […]
Facility Services Giant ABM Wins Unanimous Reversal of $94 Million Judgment
ABM Industries has obtained the reversal of a $94 million judgment in a wage-and-hour class action that was awarded by a California trial court in 2012. In 2012, about 15,000 security guards were awarded the $94 million in a class-action lawsuit against their employer, ABM Security Services, which had allegedly denied the workers rest breaks. […]
CTBUH Announces 2015 Performance and Innovation Award Winners
The Council on Tall Buildings and Urban Habitat has announced the winners and finalists of their Performance and Innovation Awards, as part of the 2015 CTBUH Annual Awards. This year’s Performance Award winner went to Chifley Tower, a 53-story office high-rise in Sydney, Australia. The Innovation Award went to Holedeck, a structural concrete slab that includes […]
Charlotte, N.C. High-Rise Cuts Water Use by 27%
Institutional real estate investment manager American Realty Advisors has dramatically reduced water consumption for its office property South Tryon Square, located at 201 S. Tryon in Charlotte, North Carolina. The firm reduced water consumption at South Tryon Square by 27 percent, and was recognized as a leader in water conservation by the Environmental Protection Agency. […]
Able Engineering Services Acquires Chicago’s Hill Mechanical Operations
Able Services has reached an agreement to acquire Hill Mechanical Operations, the stationary engineering company of The Hill Group. The terms of the transaction were not disclosed. With more than 17,000 employees servicing over one billion square feet of real estate, Able Services provides stationary engineering, janitorial, and building operations to all classes of commercial […]
What Story is Your Building Data Trying to Tell You?
The software market is flooded with options for collecting building data. It’s hard to determine what is actually needed, and even more difficult to know what to do once the data is collected. This is a challenge because software is only half of the puzzle, and data is only valuable if the user knows how […]
Matt Gates is vice president of energy management services and solutions for Trane, a leading global provider of indoor comfort solutions and services, and a brand of Ingersoll Rand. In this role, Gates manages a portfolio of building energy management systems (BEMSs) solutions and leads efforts to commercialize new and differentiated intelligent services offers for North America.
Fuel Cell System to Be Installed at Morgan Stanley’s High-Rise Headquarters
Bloom Energy will install a fuel cell system at Morgan Stanley’s high-rise global headquarters in New York City’s Times Square neighborhood. The fuel cell project at 1585 Broadway is expected to be fully operational in late 2016 and will provide approximately 750 kW of 24×7 high quality power to the Morgan Stanley building, equal to […]
Washington D.C. High-Rise Installs Rooftop Solar Photovoltaic (PV) System
The Tower Companies’ have installed a solar photovoltaic (PV) system on The Millennium Building, located at 1909 K Street NW in Washington, D.C. – the first of its kind inside the District. Tower hopes that the PV system will help improve the building’s environmental footprint and reduce operating costs. Built in 1973, The Millennium Building […]
San Francisco High-Rise Unveils LED Video Wall Public Art Installation
A state-of-the-art, high-resolution LED video wall was recently unveiled at 350 Mission Street in San Francisco as part of a digital art show organized by Kilroy Realty Corporation. For the event, titled “Virtual Depictions: San Francisco,” Kilroy Realty and the City of San Francisco commissioned acclaimed media artist Refik Anadol to create an immersive public […]
Common Areas at Chicago’s 500 W. Monroe to Receive Makeover
Piedmont Office Realty Trust will soon begin a phased office renovation of its West Loop high-rise at 500 W. Monroe in Chicago. The 46-story office tower was originally designed by Skidmore, Owings & Merrill. It’s constructed of granite, glass and stainless steel and features an illuminated glass spire on the southeast corner of the building and cathedral […]
Empire State Building and Grateful Dead Team Up for Farewell Jam
The Empire State Building gave 60,000 Deadheads an epic show on Saturday night during the sold out “Fare Thee Well: Celebrating 50 Years of Grateful Dead” concert on July 4 by synchronizing the Empire State Building’s LED tower lights to the band’s live performance of “U.S. Blues.” The production was specifically designed for the Chicago […]
Lerch Bates Promotes Dietz to Manager of Los Angeles and Las Vegas Markets
Vertical transportation, façade access and logistics consulting firm Lerch Bates has promoted industry veteran Ken Dietz to regional manager of the Los Angeles and Las Vegas markets. Lerch Bates opened its Las Vegas office in 2013 and named Dietz as a project manager for the region. Dietz managed vertical transportation system studies, performed vertical maintenance evaluations, designed […]
Dubai’s New Year’s Eve Fire Reignites High-Rise Facade Material Safety Concern
The rapid development of scores of spectacular high-rise buildings in Dubai between 1994 and 2009 was unsurprisingly not without some growing pains. 1994 saw the start of the Burj Al Arab, the lemon-wedge-shaped building on whose heli-deck we see international sports stars hitting tennis and golf balls, which I think makes a fitting start to […]
Tom Bell-Wright is founder, CEO & CTO of Thomas Bell-Wright International Consultants of Dubai, an engineering firm providing independent quality assurance and testing services for exterior wall systems, fire containment systems and fire resistant materials in large buildings.
Chicago High-Rise Uses Innovative Thermal Breaks for Concrete Balconies
Chicago’s City Hyde Park, a 15-story development located at 5105 South Harper Avenue, is designed by Studio Gang Architects and set to complete construction this year. Antheus Capital and Silliman Group are the developers behind the 500,000 square foot mixed-use project. This will be the first project in Chicago to incorporate Schöck Isokorb structural thermal […]
Eight Things to Clean Right Now to Prevent a Norovirus Outbreak
Most prevalent in the winter months, norovirus is the most common cause of acute gastroenteritis outbreaks in the United States resulting in as many as 21 million cases each year and 1.9 million hospital visits1. “A norovirus outbreak can wreak havoc on a business’s productivity,” said John Engel, Senior Marketing Manager, Cintas. “Whether you work […]
After Fire, New York City High-Rise Cleans-Up Asbestos Contamination
After a fire eruption during asbestos removal in a high-rise building in New York City, the property faced asbestos contamination on 15 floors. Immediately following the disaster, building management called New York-based restoration company, Total Environmental Restoration Solutions (TERS), and proceeded with fire damage restoration and complete indoor air quality purification with asbestos removal. After a third-party restoration company attempted asbestos removal, the […]
Massachusetts Hotels Must Comply with Food Waste Disposal Ban by October
Massachusetts’ statewide commercial food waste disposal ban will take effect on Oct. 1, 2014. The ban was designed to divert food waste to energy-generating and composting facilities and reduce the state’s waste stream. Large hotels are among the estimated 1,700 facilities that will be impacted. “We are committed to protecting our natural resources and creating […]
Honeywell Acquires Xtralis for $480 Million
Honeywell is acquiring Xtralis, a leading global provider of aspirating smoke detection along with advanced perimeter security technologies and video analytics software, for $480 million. Xtralis aspirating smoke detection solutions protect many Fortune 500 companies, iconic sites and critical infrastructures worldwide. They are used in data centers, historical buildings, airports, industrial sites and manufacturing facilities to […]
Dubai’s New Year’s Eve Fire Reignites High-Rise Facade Material Safety Concern
The rapid development of scores of spectacular high-rise buildings in Dubai between 1994 and 2009 was unsurprisingly not without some growing pains. 1994 saw the start of the Burj Al Arab, the lemon-wedge-shaped building on whose heli-deck we see international sports stars hitting tennis and golf balls, which I think makes a fitting start to […]
Tom Bell-Wright is founder, CEO & CTO of Thomas Bell-Wright International Consultants of Dubai, an engineering firm providing independent quality assurance and testing services for exterior wall systems, fire containment systems and fire resistant materials in large buildings.
NFPA Hires Nathaniel Lin to Lead Big Data and Analytics Strategy
Nathaniel Lin recently joined the National Fire Protection Association (NFPA) as director of data strategy and analytics, and will lead NFPA’s new strategic initiative on big data acquisition, analytics and application. In this newly created role for NFPA, Lin will identify, assess and develop resources that enhance the association’s ability to deliver an expanded range of information, […]
Broadcasting Returns To One World Trade Center
Television broadcasters CBS, NBC Universal-owned WNBC and WNJU and PBS will relocate their broadcasting operations to the 408-foot-tall spire of One World Trade Center in Lower Manhattan. The historic development marks the return of network and radio broadcasting to the Durst Organization’s 1,776-foot One World Trade Center after an absence of more than fourteen years. The […]
New York by Gehry Uses HVAC Ducts to Extend Wireless Signals
When it opened in 2011, New York by Gehry was the tallest residential tower in the Western Hemisphere and has since become an iconic figure in the Manhattan skyline. Designed by renowned architect Frank Gehry, the waves of stainless steel on the exterior reflect changing light, transforming the appearance of the building throughout the day. […]
WiredScore Expands Connectivity Certification Service Nationally
WiredScore, the provider of a standardized rating system designed to identify, evaluate and certify commercial buildings with the fastest and most reliable internet connections, has expanded its Wired Certification service to office property owners, asset managers and leasing agents in cities nationwide, including New York, Boston, Chicago, Washington, DC and San Francisco, among other metro […]
Santiago Calatrava Designed Dubai Tower May Become World’s Tallest
A Santiago Calatrava-designed concept tower at Dubai Creek Harbour may become the world’s tallest - although the official height has not yet been revealed. HH Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai, chose the design by Spanish/Swiss neo-futuristic architect Santiago Calatrava Valls from an international pitch. The Tower, which will include a boutique […]
World Now Has 100 Supertall Skyscrapers with Completion of 432 Park Avenue
The Council on Tall Buildings and Urban Habitat (CTBUH) has announced that there are now officially 100 supertall (300-plus-meter) skyscrapers in the world following the completion of 432 Park Avenue in New York City. The construction of supertall buildings has increased at an astounding rate in recent years, an indicator of the tremendous growth within […]
Recently Completed Shanghai Tower is Now World’s Second-Tallest Building
China’s Shanghai Tower is now the second tallest building in the world, surpassed only by the Burj Khalifa in Dubai. Construction began in November, 2008 and the high-rise was “topped-out” out in August 2013. The tower was finished in late-2015 at a height of 632 meters, becoming the third building in the world to achieve […]
Trammell Crow Breaks Ground on Downtown San Diego Residential Tower
Trammell Crow Residential’s Southern California Division has started construction on The Alexan, a 313-unit, mixed-use development, consisting of a 19-story tower with 209 apartment units, a four-story residential building with 104 units, subterranean parking for 376 vehicles, and an indoor-outdoor restaurant in a converted 100-year-old church. The 250,000-square-foot project is scheduled for completion in the […]
Groundbreaking for 99 Hudson, New Jersey’s Future Tallest High-Rise
Plaza Construction has broken ground on China Overseas America’s Jersey City high-rise 99 Hudson St. At 79 stories tall and measuring 900 feet from sea level, 99 Hudson will be the tallest building in the state of New Jersey, surpassing the 781-foot tall Goldman Sachs building at 30 Hudson. The new tower will comprise nearly 800 condominiums […]
Groundbreaking for 58-Story Downtown Austin Luxury Condo Tower
The development team of Aspen Heights, Constructive Ventures and CIM Group have broken ground on The Independent, a 58-story, 370-unit condominium tower in downtown Austin. Located at the corner of West 3rd Street and West Avenue, the property was acquired from the City of Austin in November 2015 under the terms of a Master Development […]
Turnstiles to Control Elevator Access Improve Office Tower Security
Smarter Security, Inc., provider of premium, innovative entrance control and outdoor security solutions, today announced a financial institution recently installed Fastlane Glassgate 250 optical turnstiles in its new headquarters building in the northeastern United States. As a proponent of LEED certification, the end user appreciated the energy efficiency of Fastlane® and trusted the extensive experience […]
Trane Introduces Intelligent Services Portfolio of Energy Management Solutions
Trane, a leading global provider of indoor comfort solutions and services and a brand of Ingersoll Rand, has introduced Trane Intelligent Services. This portfolio of energy management systems and services is designed to help building owners and managers transform building data into actionable insights that optimize building performance and impact business outcomes. “As an experienced […]
Boston’s Millennium Tower to Install Structural Thermal Breaks
Luxurious condo-and-retailer tower in Downtown Crossings will incorporate Schöck Isokorb structural thermal breaks in the Millennium Tower terraces at the penthouse levels, with completion expected by summer of 2016. The $680 million tower currently has 442 units for sale with prices starting at $850,000. The slender structure will contain 1.1 million square feet, with over […]
Earthquakes and Elevators: Seismic Detection Devices in High-Rises
An earthquake, even a light one, can distort or break the precisely aligned components of an elevator system. Possible damage due to a seismic event includes derailed counterweights (which could collide with the cabs), damaged or unseated wire rope and broken or damaged rails or guide rollers. Even a small tremor could bend a rail […]
Sterrett Lloyd, Draka Elevator Products, Inc., a business unit of the Prysmian Group. Mr. Lloyd currently holds the position of president, where he directs the company’s worldwide operations. He began his lifetime of industry service as an elevator contractor and is the third generation of his family to work in the industry. Sterrett Lloyd joined Draka Elevator in 2001 as Vice President of Sales, and progressed to Chief Operating Officer, and then to his current position of President in 2011.
Elevator Maintenance Delivery Practice Trends
The cost of elevator preventive maintenance continues to be on the rise. Additionally, recent industry trends with maintenance agreements now containing obsolescence clauses have significantly changed maintenance coverage and whether all parts of an elevator system are or are no longer covered. Recent Code changes requiring a Maintenance Control Plan (MCP) have also impacted a […]
As International Executive Vice President for Lerch Bates, Mr. Popp has extensive experience on high-rise buildings and major hotels in Buenos Aires, Dubai, the Middle East, Bangkok, Kuala Lumpur, Beijing, Shanghai, Nanjing, China and Podolsk, Russia. He has been with Lerch Bates, the world’s largest and oldest elevator consulting company, for over 30 years.
Elevator Modernization: Tips on Project Planning, Budgeting, and Management
“Think about a LinkedIn or Shutterstock employee,” says Thomas Durels, executive vice president, chief of property operations and leasing for Empire State Realty Trust. “Those are our tenants; they’re working at the Empire State Building any time, day or night. They’re traveling to and from restaurants, a fitness center, conference space, and their workspaces – all under one roof. We’re contributing to their productivity by making sure they don’t have to wait in line for…
An award winning editor, Leah spent over eight years in senior
editorial positions at both BUILDINGS magazine and ARCHI-TECH
magazine. Her work has been incorporated into training and
educational programs around the country. She is a graduate of
University of Iowa. She is Editor at Large for High Rise Facilities.
Mobile Access Opens New Doors for Property Managers and Tenants
When Starwood Hotels & Resorts Worldwide rolled out its new mobile access solution in November 2014, the initiative demonstrated the many benefits of replacing keys with phones for opening hotel doors. It also showcased the value of this new access control model in any large high-rise facility. Starwood’s new system turns smart devices into trusted […]
Selva is chief technology officer at De La Rue, a leading commercial banknote printer, security paper maker and provider of security products and software solutions for governments, central banks and commercial organizations around the world. Prior to this he was CTO at HID Global, a provider of security identity solutions and part of the Assa Abloy group of companies. As an entrepreneur, he was CEO of his own business Panjia Technologies which he sold to Assa Abloy.
6 Trends in Automating High-Rise Lobby Security
The opening of One World Trade Center this year is a tangible and celebrated reminder of the day security in America changed. After 9/11, high-rise buildings had no choice but to take visible security steps to protect tenants. While the expense of security has limited movement by some, many buildings have made security a priority. […]
Byron Marsales is director of marketing for Smarter Security Inc.
Deploying a Crisis Awareness Solution in a High-Rise
Most office buildings have an access control system that controls and monitors who enters a specific part of the building. To date, however, no high-rise building has had a crisis management system in place that can alert building security and law enforcement about an intruder, active shooter, medical condition, missing person, or disturbance. Until now, […]
Karen Evans, president and CEO of Sielox LLC, has more than 30 years of experience in the security industry. She has lead sales teams, developed strong business partners, and spearheaded the operations of the Sielox business. Sielox’s solutions include Sielox Class, a crisis lockdown alert status system.
Boost Your High-Rise’s Immunity to Bacteria, Mold and Dust Mites
If someone told you there were new ways to solve old problems, how open would you be to learning about them? Consider building-related illness (BRI). What do you know about the new ways to mitigate this pervasive problem, which continues to have a huge impact on health and productivity? The Costs of Doing Business as […]
David Ableman is VP of operations for PROTEK, headquartered in Randolph, MA, which specializes in duct cleaning and decontamination services and onsite refurbishment.
HVAC Mistakes That Could Be Costing You Big Money
After talking to energy and HVAC experts, we uncovered some real-world examples of problems they’ve seen unfold in both newer and older facilities. Read on to see what other facilities professionals have had to deal with in their high-rises, and pick up some pointers on preventing these situations in your own building.
An award winning editor, Leah spent over eight years in senior
editorial positions at both BUILDINGS magazine and ARCHI-TECH
magazine. Her work has been incorporated into training and
educational programs around the country. She is a graduate of
University of Iowa. She is Editor at Large for High Rise Facilities.
High-Rise Hotel Technology: Modern MEP Systems Improve Guest Experience
Comparing high-rise hotels with low-rise suburban hotels – especially when it comes to MEP systems (mechanical, electrical and plumbing) – won’t get you very far if you’re looking for ways to preserve operating costs while keeping guests comfortable. Some energy-efficiency measures, such as LEDs and window film, can be applied across the board for hotel savings. But, in many cases, conservation strategies that are successfully implemented in a suburban hotel are completely […]
An award winning editor, Leah spent over eight years in senior
editorial positions at both BUILDINGS magazine and ARCHI-TECH
magazine. Her work has been incorporated into training and
educational programs around the country. She is a graduate of
University of Iowa. She is Editor at Large for High Rise Facilities.
Power Monitoring in High-Rises: Three Perspectives, One Goal
Everyone is interested in lowering their costs. Monitoring power and energy consumption offers a way to accomplish that goal in a large commercial space. Typical commercial facilities contain common areas, such as lobbies, hallways, elevators, and mechanical/electrical spaces. The interior is also occupied by tenants with various power needs. A building owner, a facility manager, […]
Sarah Romero is a technical writer for Veris Industries.
Inside High-Rise Facilities: Building-Integrated Photovoltaics
A building integrated photovoltaics (BIPV) system integrates photovoltaic modules into the building envelope itself: typically in the roof or façade (or both). A BIPV system can simultaneously act as building envelope material and a power generator, offering the potential for material cost savings. For instance, building integrated photovoltaics may be used in place of traditional […]
Controlling Costs with Electrical Preventive Maintenance
On December 2, the city of Detroit experienced a widespread shutdown of its electric power due to failure of grids. This power failure “forced evacuations, trapped people on elevators and darkened hospital rooms,” according to the Detroit News. The report continued with a statement from Randi Berris, DTE Energy spokeswoman: “Everybody is aware the system […]
Emily Aschinger Martin is president and CEO of Aschinger Electric, a St. Louis based, fourth generation family business celebrating 75 years of service. One of the largest electrical contractors in the region, Aschinger Electric is ranked seventh by the St. Louis Business Journal (based on total revenue, 2013), which also named Martin one of St. Louis’ Most Influential Business Women in 2014. For more information visit www.aschinger.com.
Beyond Lighting: The Future of IT and Light Fixture Integration
Light has been around as long as the human race. First came fire – primitive, serving a dual purpose of heating and illumination. Fire, as a technology, was around for thousands of years. Relatively recently (roughly 100 years ago), incandescent light was invented. This light source remains in use today, and involves a relatively simple […]
Matthew Sallee is director of strategic marketing for Terralux.
Making the Most of Every Square Foot of Office Space
Facilities managers who occupy real estate inside high-rise buildings must make the most of every square foot of interior office space. Office buildings are like budgets – just as financial managers look to squeeze value out of every single dollar, facilities managers must similarly look to extract utility from all available space on their floors. […]
Elizabeth Dukes is coauthor of Wide Open Workspace and cofounder of iOffice, one of the fastest-growing facility management software providers and consulting companies in the country.
Cut Energy Bills in High-Rise Restrooms
Even though the focus of most restroom projects is water conservation, that doesn’t mean energy-management improvements aren’t also possible. Because restrooms are usually located in the core of taller buildings, solar heat gain and heat loss through outside walls aren’t major culprits. But restrooms still consume their fair share of energy thanks to the hot […]
An award winning editor, Leah spent over eight years in senior
editorial positions at both BUILDINGS magazine and ARCHI-TECH
magazine. Her work has been incorporated into training and
educational programs around the country. She is a graduate of
University of Iowa. She is Editor at Large for High Rise Facilities.
How Engineers Are Protecting 432 Park Avenue’s Concrete from the Elements
Standing at 1,397′ 432 Park Avenue is now the tallest residential building in the western hemisphere & truly is a spectacular feat of design, engineering & construction - the sheer size of the tower required over 70,000 cubic yards of concrete & 12,500 tons of rebar. On a remarkably clear day, while driving across the […]
Protect Your High-Rise from the Elements with Glass Rainscreens
Building façades serve a dual purpose: they create the visual identity of a building, and, more importantly, repel the elements – wind, rain, heat, and cold – in order to maintain a watertight enclosure and protect the structure. Cracks, crevices, or other openings in exterior shells – even minute breaks in the surface – can […]
Said Elieh is head of technical design for Bendheim Wall Systems, Inc., North America’s leading supplier of channel glass wall systems for building façades, glass rainscreens, and interior walls. He can be reached at [email protected].
Gardens in the Sky: Integrating Green Space in High-Rise Design
In packed high-rise districts, open green space is highly desirable, though not always so easily incorporated or executed. Yet the investment of time, energy, and financial resources is worthwhile: Integrating green space can help high-rise buildings meet sustainability standards, introduce new amenities, and increase overall property value. The following are important techniques and considerations when […]
Marc Fairbrother, AIA, is vice president at RTKL.
High and Dry: High-Rise Facilities Save with Hand Dryers
Managers of high-rise facilities who want to lower operating costs don’t need to look any further: Restrooms offer an easy but significant opportunity to drastically reduce expenses. With hundreds of visitors and employees in a typical high-rise facility on a daily basis, a large number of restrooms are necessary – sometimes several on each floor. […]
William Gagnon is vice president of marketing at Excel Dryer, Inc.
High-Traffic: Extending Your Carpet’s Lifespan
When it comes to high-rise building carpets – or any carpet in a multi-tenant office building – certain pathways receive most of the foot traffic (and the wear and tear, as well as soiling, that go along with it). As a result, these pathways start to darken over time. This darkening is referred to as […]
Bob Abrams is the carpet care product manager for Nilfisk-Advance commercial business, maker of U.S. Products brand professional carpet extractors. He may be reached at www.usproducts.com.
Balers and Compactors for High-Rise Waste Recycling
High-rise facilities managers and owners are always looking for innovative ways to save money and help the environment. An often overlooked option is trash compacting and baling. With increasing landfill prices and ambitious government recycling goals, high-rise managers are looking at balers and compactors to help reduce costs and satisfy regulations. Balers Balers are powerful […]
Dispelling Some Common High-Rise Fire Sprinkler Myths
Automatic sprinkler systems have enjoyed an enviable record of protecting life and property for over 100 years. Yet, there are still common misunderstandings about the operation and effectiveness of automatic fire sprinkler systems. The American Fire Sprinkler Association (AFSA), a non-profit association representing fire sprinkler contractors, would like to dispel some of those myths. AFSA believes that the installation […]
Indoor Communications: A Critical Component of Life Safety
Supporting wireless communications in high-rise buildings has become a necessity for facility managers and owners. While it may not be the first amenity that comes to mind to give a high-rise building a competitive advantage, there’s no service more important to communications or critical to life safety. In today’s wireless world, no one will lease […]
Mike Collado is vice president of marketing at SOLiD Technologies, a global innovator in wireless infrastructure. SOLiD’s recently published e-book, The Imperative, can provide you with more information about key indoor public-safety considerations for builders and managers, public-safety professionals, and technology providers. To download a copy, visit www.solid.com/imperative.
Inside High-Rise Facilities: Mass Notification Systems
The ability to notify tenants and occupants of an emergency situation is no longer just a nice option for commercial buildings to have. From an active shooter scenario to severe weather to a fire alarm activation, facilities professionals are choosing to invest in mass notification systems to provide a comprehensive crisis communication solution that works […]
Inside High-Rise Facilities: Mass Notification Systems
The ability to notify tenants and occupants of an emergency situation is no longer just a nice option for commercial buildings to have. From an active shooter scenario to severe weather to a fire alarm activation, facilities professionals are choosing to invest in mass notification systems to provide a comprehensive crisis communication solution that works […]
Using High-Power DAS in High-Rise Buildings
Mobile service subscribers – your tenants and occupants – demand clear, consistent mobile services no matter where they are. To address the demand of mobile coverage and capacity within high-rise buildings, distributed antenna systems (DAS) are being used to provide wireless coverage and capacity. As bandwidth demands grow at unprecedented rates, solutions that can deliver […]
Dr. Boris Golubovic is director for product management for wireless networks, and fellow, at TE Connectivity. He is a member of IEEE, a contributor to several industry standards, and has authored more than 20 peer-reviewed international technical publications and conference talks.
Imagine for a moment that you’re trying to have a one-on-one conversation in a large, empty room. At first you’re able to speak at a comfortable level and hear each other perfectly, without much effort at all. But as the room slowly begins to fill, you have to adjust your volume and work a little […]
Greg Jacobs is president and CEO at Duluth, GA-based Connectivity Wireless. For more information on the latest in converged infrastructures, visit www.connectivitywireless.com/services/unity-platform/.
Denver High-Rise Sets a New Standard for Federal Buildings
It’s always exciting when major green building projects are complete. But what really happens after they’re done? Do the MEP systems perform as planned? Are energy savings occurring at the level expected? Are tenants and occupants more comfortable?
For the Byron G. Rogers Federal Building modernization and renovation project, the answer is a resounding yes.
An award winning editor, Leah spent over eight years in senior
editorial positions at both BUILDINGS magazine and ARCHI-TECH
magazine. Her work has been incorporated into training and
educational programs around the country. She is a graduate of
University of Iowa. She is Editor at Large for High Rise Facilities.
LEED Construction Outpacing Conventional Construction in the U.S.
The USGBC has released its annual Top 10 States for LEED, the world’s most widely used and recognized green building rating system. The per capita ranking highlights states throughout the country that are making significant strides in sustainable building design, construction and transformation. “Green construction is quickly outpacing conventional construction in the U.S.,” said Rick Fedrizzi, CEO and founding […]
Chicago’s 111 South Wacker Earns LEED Platinum Certification
Chicago’s 111 South Wacker, a 51-story, 1.1 million-square-foot Class A office tower, has been at the forefront of LEED certification since its completion in 2005, when the building became the first speculative, high-rise office development awarded LEED Gold certification in the Core & Shell category from the U.S. Green Building Council (USGBC). The building was […]
Historic L.A. High-Rise Ready for Conversion
Newmark Grubb Knight Frank (NGKF) is marketing for sale a 12-story art deco-style historic high-rise located at 403 W. 8th St. in downtown Los Angeles. Known as the “Garfield Building”, the now-vacant property is centrally located in the Broadway and South Park areas. The approximately 102,000-square-foot building, built in 1929 and designed by the prominent […]
1,200 Windows Replaced on Chicago’s 60-Year-Old Prudential I Tower
The Prudential Plaza is one of the most recognizable landmarks in Chicago’s East Loop. Managed by Jones Lang LaSalle, the 60-year-old Prudential I Tower embarked on a $100 million upgrade to its Class A, high-rise office tower. Its façade was restored for improved aesthetics and comfort for building tenants. Working closely with Apogee’s Building Retrofit […]
Skyscraper Museum to Present Series of Programs About Times Square Preservation
In conjunction with its exhibition “Times Square, 1984,” The Skyscraper Museum in lower Manhattan is presenting a series of programs that reunite key actors in the transformation of Times Square over the past three decades. Each evening focuses on a set of issues and questions that ask the original authors, including government officials, planners, urban […]
Q&A: Brad Giambrone, Kaufman Organization Operations & Maintenance
One of the most difficult jobs in commercial real estate involves turning underutilized, outdated facilities into modern assets. And that’s exactly what Brad Giambrone, assistant director of operations and maintenance at Kaufman Organization in New York City, specializes in. Turning under-performing buildings into Class-B and Class-A assets is what he enjoys most. “Breathing new life […]
An award winning editor, Leah spent over eight years in senior
editorial positions at both BUILDINGS magazine and ARCHI-TECH
magazine. Her work has been incorporated into training and
educational programs around the country. She is a graduate of
University of Iowa. She is Editor at Large for High Rise Facilities.
Q&A: Rick Furches, Director of Development for Rubenstein Partners
You don’t often find a commercial real estate private equity investment professional who has seen the industry from every angle: engineering, design, construction, and ownership. But Rick Furches, director of development for Rubenstein Partners in Philadelphia, has done just that. With a degree in structural engineering, experience in design, and skills in construction management, Furches […]
An award winning editor, Leah spent over eight years in senior
editorial positions at both BUILDINGS magazine and ARCHI-TECH
magazine. Her work has been incorporated into training and
educational programs around the country. She is a graduate of
University of Iowa. She is Editor at Large for High Rise Facilities.
Q&A: Brandon Shorter, Engineering Manager at Hines’ One Victory Park
Brandon Shorter, general engineering manager for Hines, has been in the commercial real estate industry for nearly two decades – except for a six-month hiatus when he thought he wanted to try something new. Once he was gone, however, Shorter realized that there was no career he’d rather be doing. He returned to facilities management […]
An award winning editor, Leah spent over eight years in senior
editorial positions at both BUILDINGS magazine and ARCHI-TECH
magazine. Her work has been incorporated into training and
educational programs around the country. She is a graduate of
University of Iowa. She is Editor at Large for High Rise Facilities.
Turnstiles to Control Elevator Access Improve Office Tower Security
Smarter Security, Inc., provider of premium, innovative entrance control and outdoor security solutions, today announced a financial institution recently installed Fastlane Glassgate 250 optical turnstiles in its new headquarters building in the northeastern United States. As a proponent of LEED certification, the end user appreciated the energy efficiency of Fastlane® and trusted the extensive experience […]
Trane Introduces Intelligent Services Portfolio of Energy Management Solutions
Trane, a leading global provider of indoor comfort solutions and services and a brand of Ingersoll Rand, has introduced Trane Intelligent Services. This portfolio of energy management systems and services is designed to help building owners and managers transform building data into actionable insights that optimize building performance and impact business outcomes. “As an experienced […]
Boston’s Millennium Tower to Install Structural Thermal Breaks
Luxurious condo-and-retailer tower in Downtown Crossings will incorporate Schöck Isokorb structural thermal breaks in the Millennium Tower terraces at the penthouse levels, with completion expected by summer of 2016. The $680 million tower currently has 442 units for sale with prices starting at $850,000. The slender structure will contain 1.1 million square feet, with over […]
Chinese Buyer Acquires Midtown High-Rise in Off-Market Purchase
MHP Real Estate Services announced the acquisition of 850 Third Avenue, in partnership with Chinese conglomerate HNA Property Holdings, from previous owner Shorenstein Properties. MHP will be the operating partner of the joint venture, with HNA serving as majority partner. The off-market purchase of the 617,000-square-foot office building, located between East 51st and 52nd streets, […]
JEMB Repositions 75 Broad Street, Retains NGKF as Leasing Agent
New York City-based JEMB Realty, a privately held real estate development, investment and management company, has retained Newmark Grubb Knight Frank as leasing agent for 75 Broad Street as part of a repositioning effort for the 35-story, 750,000 SF office property. The repositioning project will include lobby enhancements, state-of-the-art pre-built space and common corridor and […]
Largest Tenant in Manhattan’s Largest Office Tower Renews Lease
McGraw Hill Financial has renewed its 900,027-square-foot lease at New Water Street Corp.’s 55 Water Street in Downtown Manhattan. The multi-year renewal includes the entire 34th through 46th floors—along with a portion of the concourse and 52nd floor. “This lease renewal is the culmination of our efforts to upgrade 55 Water Street via a significant capital improvement plan,” […]
New Ownership Has Big Plans for Chicago’s Historic One North LaSalle
Hilco Real Estate and two senior executives of MB Real Estate Services, Peter Westmeyer and Kevin Purcell, have acquired the historic landmark tower One North LaSalle located in Chicago’s Central Loop. The new joint venture announced that the 47-story property will be undergoing an extensive redevelopment effort to introduce a variety of high-end tenant amenities. […]
Chicago’s 111 South Wacker Earns LEED Platinum Certification
Chicago’s 111 South Wacker, a 51-story, 1.1 million-square-foot Class A office tower, has been at the forefront of LEED certification since its completion in 2005, when the building became the first speculative, high-rise office development awarded LEED Gold certification in the Core & Shell category from the U.S. Green Building Council (USGBC). The building was […]
Renovations, New Leasing Agent at FiveOneFive North State Street in Chicago
Big changes are underway at FiveOneFive North State Street in Chicago. The 29-story, Class A high-rise located in the River North submarket, is in the midst of a major renovation and has just been assigned a new leasing agent. On behalf of the property owner, BCSP 515 North State Street LLC, an affiliate of Beacon Capital Partners […]
Transamerica Pyramid to Light up the Night as the Big Game Comes to Bay Area
The Transamerica Pyramid is taking the celebration of the Super Bowl, coming to Santa Clara, CA on February 7th, to the next level with special lighting of celebratory colors from February 1 – February 7. At 853-feet-tall, The Transamerica Pyramid is the tallest skyscraper in the San Francisco skyline. Designed by architect William Pereira and built by Hathaway […]
San Francisco High-Rise Unveils LED Video Wall Public Art Installation
A state-of-the-art, high-resolution LED video wall was recently unveiled at 350 Mission Street in San Francisco as part of a digital art show organized by Kilroy Realty Corporation. For the event, titled “Virtual Depictions: San Francisco,” Kilroy Realty and the City of San Francisco commissioned acclaimed media artist Refik Anadol to create an immersive public […]
TMG Partners Buys 18-Story Oakland Office Tower, Plans Major Upgrades
TMG Partners, one of the San Francisco Bay Area’s largest mixed-use property developers, today announced their purchase of 1330 Broadway in Oakland. TMG purchased the property from Zimmerman Investments. 1330 Broadway is an 18-story, 300,000 square-foot building with immediate access to BART at Oakland City Center’s 12th Street Station. The aluminum-clad tower was built in 1958 […]
Otis Elevator to Provide 22 Elevators for Prominent Seattle High-Rise
Otis Elevator has entered into a multimillion-dollar agreement with Schnitzer West to supply elevators and escalators for Madison Centre, a prestigious 37-story high-rise development in Seattle. This high-tech, LEED Gold certified tower is located at one of Seattle’s best known intersections and will incorporate the latest innovations in workplace effectiveness and smart design for an […]
Carey Watermark Acquires High-Rise Hotel in Booming Bellevue Market
Carey Watermark Investors 2 Incorporated (CWI 2), a non-traded real estate investment trust (REIT) focused on investing in hotels, has acquired the Seattle Marriott Bellevue. The newly developed hotel includes 384 guestrooms and is located in Bellevue, Washington, which has evolved from a Seattle suburb into a vibrant, independent city as a result of the high-tech […]
Urban Renaissance Group Acquires Four Portland High-Rise Office Towers
Urban Renaissance Group (URG) has acquired the operating portfolio of Portland-based real estate company Langley Investment Properties (LIP). With this acquisition, URG’s total operating platform is now more than 10 million sq. ft. in Portland, Seattle and Denver. Going forward, LIP will refocus its efforts on new investment and development opportunities as well as related […]
Gemini Rosemont Acquires High-Rise Office Tower in Downtown San Diego
Santa Fe, New Mexico-based Gemini Rosemont has acquired the 19-story 610 West Ash commercial office building in San Diego. The acquisition of the office tower adds 177,489 rentable square feet of Class A office space to the company’s portfolio. The company now owns 114 buildings in 21 states across the U.S. The building was purchased […]
Talent Agency ICM Takes Top 5 Floors in Century City High-Rise
ICM Partners is expanding its Los Angeles corporate headquarters in Century City. The talent and literary agency will remain at the same address, 10250 Constellation Boulevard, also known as Constellation Place, but will relocate from its current three-story space on floors 7, 8 and 9 to the top five floors of the 35-story high rise. […]
Glass Slide Airlifted into Place atop Los Angeles’ US Bank Tower
On Saturday, US Bank Tower’s newest attraction, an all-glass slide, was airlifted via helicopter onto the 69th floor observation deck at the iconic high-rise in downtown Los Angeles. Opening on June 25, 2016, OUE Skyspace LA will be California’s tallest open-air observation deck and the premiere destination for 360-degree views of Los Angeles. In addition […]
Boston’s Two Liberty Square Sold for $28 Million
Philadelphia-based CenterSquare Investment Management has sold Two Liberty Square, a 67,609-square-foot office building in Boston on behalf of one of its institutional clients for $28.25 million. CenterSquare acquired the asset for $18 million in 2013. HFF arranged the sale and secured a 10-year, fixed-rate loan through SunLife for the buyer, Boston-based The Winhall Companies. The […]
16-Story West Loop Chicago Office Tower Trades Hands for $135 Million
Boston-based AEW Capital Management has acquired a 16-story Class A office tower in Chicago’s West Loop for $135 million. The seller, Northwood Investors, was represented in the transaction by HFF. Northwood acquired control of the property in 2012 in a transaction that valued the building at $95 million. At the time, the seller, a tenancy […]
Skanska Celebrates Groundbreaking for Boston’s 121 Seaport
Skanska USA Commercial Development, joined by Boston Mayor Martin J. Walsh and CBT Architects, broke ground this week on the city’s newest office tower - 121 Seaport - a 17-story, 400,000-square-foot Class-A office building with two floors of retail - in Boston’s Seaport District. Located at the corner of Seaport Boulevard and East Service Road, […]
JMJ Raising Money for Construction of San Antonio Residential High-Rise
Dallas, Texas-based developer JMJ Development, led by principal Tim Barton, is planning to build a 30-story residential high-rise in supply-constrained San Antonio. Villita Tower will contain 201 market rate units overlooking San Antonio’s iconic River Walk on the San Antonio River. Colliers International’s structured finance team of Jeffrey Donnelly and Ulrike Ahrens has been retained to source $47 million in debt and […]
High-Rise Apartment Tower to Be Built in Texas Medical Center
Greystar and Medistar Corporation have formed a joint venture to develop Ascent Med Center, a luxury apartment community located in Houston, Texas. The 35-story high-rise development will feature 375 apartment homes at the corner of Travis Street and Old Main Street in the Texas Medical Center (TMC). “Ascent Med Center was designed with a top-notch amenity package, high […]
Groundbreaking for 58-Story Downtown Austin Luxury Condo Tower
The development team of Aspen Heights, Constructive Ventures and CIM Group have broken ground on The Independent, a 58-story, 370-unit condominium tower in downtown Austin. Located at the corner of West 3rd Street and West Avenue, the property was acquired from the City of Austin in November 2015 under the terms of a Master Development […]
Powerhouse Los Angeles Ad Agencies Lease Space in Dallas’ McKinney & Olive
Crescent Real Estate Holdings has achieved a major coup by leasing space to two Los Angeles-based advertising agencies expanding into Dallas. The new tenants, Saatchi & Saatchi and Team One, have agreed to lease a minimum of 52,000 square-feet in McKinney & Olive, Crescent’s newest high-rise office tower in Dallas’ Uptown. Saatchi & Saatchi is […]
JMJ Raising Money for Construction of San Antonio Residential High-Rise
Dallas, Texas-based developer JMJ Development, led by principal Tim Barton, is planning to build a 30-story residential high-rise in supply-constrained San Antonio. Villita Tower will contain 201 market rate units overlooking San Antonio’s iconic River Walk on the San Antonio River. Colliers International’s structured finance team of Jeffrey Donnelly and Ulrike Ahrens has been retained to source $47 million in debt and […]
Quadrant Investment Properties Acquires Saint Paul Place in Dallas
Dallas-based Quadrant Investment Properties (QIP) has acquired Saint Paul Place, a twenty‐two story, 273,217 square‐foot office building located on the corner of Ross Avenue and Saint Paul Street in the Dallas Arts District. The building is currently 78% leased to a diverse roster of small to mid‐sized tenants including D‐Magazine, Crowe Horwath and Sendero Business […]
Shorenstein Acquires Downtown Pittsburgh’s One Oxford Centre
Oxford Development Company has sold One Oxford Centre, a one million-square-foot, Class A, trophy office tower in downtown Pittsburgh, to Shorenstein Properties. HFF marketed the property and worked on behalf of the new owner to place the acquisition loan with Helaba and CIBC. While no terms were revealed, the firm is believed to have paid […]
Groundbreaking for Center City Philadelphia Residential High-Rise
The Goldenberg Group of Philadelphia, international real estate firm Hines, and ASB Real Estate Investments, today celebrated the groundbreaking of a new Class A residential tower at 1213 Walnut Street in Center City, Philadelphia. The project represents the first venture by the partnership of Goldenberg, Hines and ASB. 1213 Walnut will be a 26-story 300,000-square-foot, […]
Newly Built Philadelphia High-Rise Apartment Tower Sold for $51 Million
AQ Rittenhouse, a newly constructed, LEED Silver certified, 110-unit high-rise apartment residence, located in Rittenhouse Square, has been acquired by LaSalle Investment Management for $51.1 Million. The sale of AQ Rittenhouse was the first transaction of its kind for ARA Newmark in Philadelphia since the company was acquired by BGC Partners, Inc. in December 2014. The NGKF […]
New York Buyer Acquires Miami’s Courthouse Tower in Off-Market Sale
Downtown Miami’s landmark Courthouse Tower has been sold to New York real estate private equity firm Brickman for $27.5 million. Mika Mattingly of Sterling Equity Realty’s Mika Miami team represented the seller, Courthouse Towers LLC, which is owned and operated by The Donovan Family. RFK Senior Directors Benjamin Mandell and John Ellis represented the buyer. […]
New Leasing Agent for Iconic Limestone Office Tower in Tampa
CBRE has been appointed exclusive leasing agent for Rivergate Tower – the landmark, cylindrical high-rise office building located at 400 North Ashley Drive in Tampa, Florida. Miami-based Banyan Street Capital acquired the 31-story tower in August 2015 with plans to be at the forefront of Tampa’s emergence as a top destination for corporate relocations as […]
Coworking Firm Takes Full Floor in Downtown St. Petersburg High-Rise
In the year since acquiring First Central Tower, Feldman Equities has leased over four full floors at the office building signing seven firms to leases totaling over 100,000 square feet. In the latest deal Regus, the global workplace provider, has leased a full floor, 15,296 square feet, at the building. The long term lease was […]
Atlanta’s 36-Story Centennial Tower Sold for $69 Million
Durham-based The Dilweg Companies, a commercial real estate investment and management firm, has acquired Centennial Tower, a 652,092 square-foot office tower in downtown Atlanta from Jackson Corporate Real Estate for $69 million. Centennial Tower is a 36-story, Class A office building located in the heart of downtown Atlanta at 101 Marietta Street. The building is […]
Cousins Properties to Develop New Midtown Atlanta High-Rise
Cousins Properties has signed a 15-year build-to-suit lease with NCR Corporation, a leader in consumer transaction technologies, for the company’s world headquarters building. Known for developing Atlanta high-rise such as the 55-story Bank of America Plaza and the 50-story One Ninety One Peachtree Tower, beat out real estate companies including Houston-based Hines and Atlanta-based Carter. […]
Atlanta High-Rise Student Housing on Track to Open in August 2015
University House Communities (UHC) announced today that as construction is nearing completion on University House Midtown, the student apartment community at 930 Spring Street is 100 percent pre-leased. In August, the community will welcome its first residents for the 2015/2016 school year, serving students from the Georgia Institute of Technology. The 20-story building, which features […]
Real Capital Analytics has launched the RCA & Walk Score Commercial Property Price Indices (CPPI), the first of its kind to quantify the price value of walkability for commercial properties. Walk Score is a single comparative measure of the ease or ‘walkability’ from a given property location to nearby amenities.
Over the past decade, prices for properties located in Central Business Districts (CBDs) have risen 125% while prices for suburban properties that are also considered highly walkable are up 43%. Comparatively, property prices are up just 21-22% for properties in suburban locations that are determined to be either somewhat walkable or car-dependent.
“Walkability matters” said Robert White, RCA Founder, “as prices for commercial properties in highly walkable locations show significantly greater appreciation trends than car-dependent locations. The findings cut across both urban and suburban locales, large and small markets and each of the office, retail and apartment sectors.”
The findings support growing evidence that demographic shifts and preferences have shifted back to urban locations and more dynamic live/work/play environments. The stronger price appreciation trends associated with highly walkable properties reflect both a premium in rents that tenants pay for such locations as well as the increasing demand from investors who recognize the long-term value of walkability and mixed-use developments.
In 2007, RCA launched the first repeat-sales regression (RSR) indices for commercial real estate called the Moody’s/REAL CPPI. These national indices quickly became an industry benchmark and are still published with Moody’s Investors Service as the Moody’s/RCA CPPI. The new indices will be calculated on a quarterly basis and are powered by Walk Score’s unique property database.
The RCA repeat-sale transaction approach produces quality-controlled property price indices and is widely acknowledged as the most accurate way to track real estate price movements. The RCA & Walk Score CPPI are based on pioneering research undertaken by leading academics, Dr. David Geltner of M.I.T.; Dr. Jeffrey Fisher, Professor Emeritus, Indiana University; and Professor Gary Pivo of the University of Arizona.
BOMA’s Office Experience Exchange Report Reveals Higher Expenses
Rising Demand for Tiny Apartments Could be a Boon for Developers
Overbuilding Overblown? Apartment Markets Expand in Quarterly Survey
NYC Broker Confidence Tempered by Interest Rate and Inventory Concerns
Despite Interest Rate Uncertainty, NYC Brokers Remain ConfidentCategory: Intelligence
The Building Owners and Managers Association (BOMA) International, in collaboration with research firm Kingsley Associates, recently released the 2015 Office Experience Exchange Report (Office EER), its annual office sector benchmarking study. The data from the 2015 Office EER shows definite increases in income levels offset by increased expenses for privately owned office buildings in the […]
Denver High-Rise Sets a New Standard for Federal Buildings
It’s always exciting when major green building projects are complete. But what really happens after they’re done? Do the MEP systems perform as planned? Are energy savings occurring at the level expected? Are tenants and occupants more comfortable?
For the Byron G. Rogers Federal Building modernization and renovation project, the answer is a resounding yes.
An award winning editor, Leah spent over eight years in senior
editorial positions at both BUILDINGS magazine and ARCHI-TECH
magazine. Her work has been incorporated into training and
educational programs around the country. She is a graduate of
University of Iowa. She is Editor at Large for High Rise Facilities.
They’ve been called condo hotels, hotel-condos, and condotels. But however you refer to them, cities like Chicago, Aspen, and New York have seen a swell of these high-rise towers enter urban areas in the last decade. Virtually every condo hotel property that has come on the market during this time has sold out in pre-construction. Although they’re condominiums by definition, these high-rises are operated like hotels.
There are typically two types of condo hotels. The first type consists […]
An award winning editor, Leah spent over eight years in senior
editorial positions at both BUILDINGS magazine and ARCHI-TECH
magazine. Her work has been incorporated into training and
educational programs around the country. She is a graduate of
University of Iowa. She is Editor at Large for High Rise Facilities.
Big Water-Savings with Small Changes
In a typical office high-rise, the U.S. Environmental Protection Agency says the three largest uses of water are restrooms, heating and cooling, and landscaping. For years, water service costs have risen at a rate well above the consumer price index, and they’re expected to continue to increase in order to offset costs associated with replacement of aging municipal water supply systems.
While energy conservation has been the big focus in commercial real estate, best practices in water conservation are becoming just as […]
An award winning editor, Leah spent over eight years in senior
editorial positions at both BUILDINGS magazine and ARCHI-TECH
magazine. Her work has been incorporated into training and
educational programs around the country. She is a graduate of
University of Iowa. She is Editor at Large for High Rise Facilities.