Office

FDIC Signs 147,543 SF Office Lease in Midtown Manhattan

by Taylor Williams February 3, 2025

NEW YORK CITY — The Federal Deposit & Insurance Corp. (FDIC) has signed a 147,543-square-foot office lease in Midtown Manhattan. The FDIC is relocating from the Empire State Building to the 44-story building at 1166 Avenue of the Americas via a 10-year lease for the entire eighth, ninth and 10th floors, as well as part of the seventh floor. Connor Faught and Sheena Gohil of Colliers represented the FDIC in the lease negotiations. Paul Glickman, Diana Biasotti, Cynthia Wasserberger and Christine Colley of JLL, along with internal agents Jeffrey Sussman and Matt Pynn, represented the landlord, Edward J. Minskoff Equities.

February 3, 2025

Market Reports Nevada Office Western Western Market Reports

Las Vegas Office Sector Continues Resilience, Bucks National Vacancy Trend

by John Nelson February 3, 2025

— By Giovanna Abraham, Market Intelligence Analyst, Avison Young — The Las Vegas office market continues to defy broader national trends, maintaining resilience and attracting attention for its stability and growth. While many U.S. cities struggle with rising office vacancies, Las Vegas stands out for its comparatively low vacancy rate, steady rent growth and positive return-to-office trends. Despite recent increases in vacancy, Las Vegas remains well below national averages, with a vacancy rate of 15.2 percent in the third quarter — 850 basis points lower than the national availability rate of 23.7 percent. This performance reflects the unique dynamics shaping the Las Vegas office market, including a steadily growing population and the city’s appeal as a business-friendly destination. Low Vacancy Rates and a Stable MarketOffice vacancy has gradually increased over the past six quarters, but Las Vegas has also experienced a much slower rise than many larger metropolitan markets. This measured growth has allowed the city to remain competitive, with vacancies rebounding to pre-pandemic levels by late 2021 and holding steady through first-quarter 2023. After brief upticks in the first half of 2024, the vacancy rate declined again by third-quarter 2024, dropping from 15.9 percent to 15.2 percent. This resilience …

February 3, 2025

Ameriprise Financial Center in Minneapolis

Acquisitions Midwest Minnesota Office Top Stories

Onward Investors Purchases Downtown Minneapolis Office Tower at Massive Discount, Mulls Repositioning

by Channing Hamilton January 31, 2025

MINNEAPOLIS — Onward Investors has acquired Ameriprise Financial Center, a 31-story office tower located at 707 2nd Ave. S in downtown Minneapolis. The 960,000-square-foot building has served as the corporate headquarters of Ameriprise Financial since its construction in 2000. Ameriprise Financial announced in 2022 that the company would be vacating the property in order to consolidate its headquarters at another building in downtown Minneapolis. Ameriprise Financial Center is soon to be vacant, according to Onward Investors. A sales price was not disclosed. However, locally based newspaper The Minnesota Star Tribune reported that the property sold for $6.3 million, a steep discount from the last time the building traded hands. Most recently in September 2016, a joint venture between Axar Capital Management and Morning Calm Management acquired the building for $200 million. Ameriprise Financial Center is located within the Minneapolis skyway system, a network of enclosed pedestrian bridges that provide direct access to buildings including the Minneapolis Club, Capella Tower, SPS Tower and Baker Center. The property also includes a four-story parking ramp that offers below-grade parking for roughly 300 vehicles. Onward Investors stated that it is exploring variety of options for the property, including converting portions of the building to uses other than …

January 31, 2025

Leasing Activity Office Texas

Halff Signs 80,000 SF Office Lease in Richardson, Texas

by Taylor Williams January 31, 2025

RICHARDSON, TEXAS — Infrastructure consulting firm Halff has signed an 80,000-square-foot office lease in the northeastern Dallas suburb of Richardson. The space is located within Galatyn Commons, a four-building, 800,000-square-foot campus that features a 10,000-square-foot fitness center, 8,000-square-foot food hall and a 150-person conference center. Andrew Taguwa, Taylor Dickerson and Rachel Gorney of JLL represented Halff in the lease negotiations. Cushman & Wakefield’s Chris Taylor and Zach Bean represented the landlord, Mapletree, a global investment firm based in Singapore.

January 31, 2025

Development Office Texas

KERA to Open 60,000 SF Headquarters Facility in Uptown Dallas

by Taylor Williams January 31, 2025

DALLAS — KERA will open a new 60,000-square-foot headquarters facility in Uptown Dallas. At the end of February, the public broadcasting group will relocate from 3000 Harry Hines Blvd. to a temporary space at One Arts Plaza in downtown Dallas while the new headquarters is being built. Construction of the new building, the site of which is adjacent to the Katy Trail, will begin in the fourth quarter and is slated for a late-2027 delivery. Architecture firm Corgan is designing the new facility, which will include performance spaces and podcast studios, and Kaizen Development Partners will lead construction.

January 31, 2025

Leasing Activity New York Northeast Office

Progressive Insurance Signs 10,487 SF Office Lease in Tarrytown, New York

by Taylor Williams January 31, 2025

TARRYTOWN, N.Y. — Progressive Insurance has signed a 10,487-square-foot office lease in Tarrytown, a northern suburb of New York City. The space is located at 560-580 White Plains Road, a two-building, 306,475-square-foot development. Matthew Lisk, Tara Long and Steve Baker of Cushman & Wakefield represented the undisclosed landlord in the lease negotiations. Glenn Walsh and Larry Ruggieri of Newmark represented Progressive.

January 31, 2025

Acquisitions Indiana Midwest Office

Colliers Brokers Sale of 211,995 SF Historic Office Building in Downtown Indianapolis

by Kristin Harlow January 31, 2025

INDIANAPOLIS — Colliers has brokered the sale of 130 E. Washington Street in downtown Indianapolis for an undisclosed price. Built in 1922, the 211,995-square-foot historic office building is home to ANGI, USA Track & Field and T&M Associates. Rachel Patten, Matt Langfeldt and Rich Forslund of Colliers brokered the sale. The buyer, Indiana-based Holladay Properties, plans to convert the 12-story building into 180 apartment units with retail space beginning this spring.

January 31, 2025

Leasing Activity North Carolina Office Southeast

Siemens Energy Executes 55,279 SF Office Lease to Fully Occupy 540 Tech Center in Raleigh

by John Nelson January 30, 2025

RALEIGH, N.C. — Siemens Energy has signed a 55,279-square-foot lease at 540 Tech Center, a 110,500-square-foot office building located at 4912 Green Road in Raleigh. The tenant doubled its office footprint at the property and is now the sole occupant. Matt Winters and Kimarie Ankenbrand of JLL represented Siemens Energy in the lease transaction. Dennis Hurley, also with JLL, represented the undisclosed landlord. Siemens Energy is expected to occupy the new space, which features lab space for research-and-development purposes, in July.

January 30, 2025

Leasing Activity Office Texas

Chobani Signs 28,674 SF Office Lease at HALL Park in Frisco

by Taylor Williams January 30, 2025

FRISCO, TEXAS — Chobani LLC has signed a 28,674-square-foot office lease at HALL Park in Frisco. The yogurt maker is relocating from nearby Plano to The Tower at HALL Park, a 16-story building whose ongoing capital improvements are part of the first phase of the park’s $7 billion redevelopment. Lee Wagner of Site Selection Group and Tim Stewart of TaTonka Real Estate Advisors represented Chobani in the lease negotiations. Kim Butler, Brad Gibson and Rena Padachy internally represented the owner, HALL Group.

January 30, 2025

Leasing Activity Office Texas

Oxford Partners Negotiates 12,899 SF Office Lease Renewal in West Houston

by Taylor Williams January 30, 2025

HOUSTON — Locally based brokerage firm Oxford Partners has negotiated a 12,899-square-foot office lease renewal in West Houston. According to LoopNet Inc., the building at 11511 Katy Freeway, which was built in 1978 and renovated in 1996, totals 80,741 square feet. Ryan Hartsell of Oxford Partners represented the tenant, the Texas Health School, in the lease negotiations. The undisclosed landlord was self-represented.

January 30, 2025

Newer Posts

Older Posts