Office

Q&A: Workplace, Meeting Space Concept ƎDEN Gives Landlords Possible Solution to Post-Pandemic Office Conundrum

by Julia Sanders April 19, 2021

In the past year, COVID-19 has impacted how and where people work, and the future of the U.S. office workplace is a major unknown. Landlords are grappling with how to maximize their physical work spaces as many employees continue to work from home full-time or at least a few days per week. This shift is leading some business owners to look for alternative forms of workplaces. ƎDEN, a flexible workplace and meeting space provider, allows for users to rent out space to fulfill their everyday working needs, including in-person meetings. ƎDEN users can download the brand’s app and then reserve an array of workplaces: work lounges, private offices and conference rooms, among other offerings. Standard rates for renting out the spaces starts at $99 a month per person, according to the firm’s website. ƎDEN currently operates from several different markets, but most locations are concentrated in the New York area. These include a location in Queens at Parker Towers and another in Brooklyn at Box Factory. The firm also has a location in Northern Virginia at Tysons Corner and three upcoming locations in Detroit. Brandon Singer, CEO of MONA and ƎDEN’s commercial real estate advisor and broker, says ƎDEN utilizes …

April 19, 2021

Healthcare Leasing Activity Life Sciences Massachusetts Northeast Office

Bristol Myers Squibb Signs 113,000 SF Life Sciences Lease Expansion in Boston

by Taylor Williams April 19, 2021

BOSTON — Bristol Myers Squibb has signed a 113,000-square-foot life sciences lease expansion at 250 Water St. at Cambridge Crossing, a 43-acre mixed-use project at the intersection of Cambridge, Somerville and Boston. The global pharmaceutical company is adding the remaining available space to its initial lease, which was announced in August of last year. Developer DivcoWest recently topped off the 480,000-square-foot building and expects to deliver it in 2022.

April 19, 2021

Development Healthcare Life Sciences Massachusetts Northeast Office Top Stories

IQHQ Begins Construction on $1B Fenway Center Life Sciences Project in Boston

by Taylor Williams April 19, 2021

BOSTON — IQHQ Inc., a developer of life sciences real estate with offices in Boston and San Diego, has begun construction on Fenway Center, a $1 billion project in Boston. IQHQ is co-developing the project with locally based firm Meredith Management. The initial phase of construction centers on the development of a 90,000-square-foot air rights deck that overlooks the Massachusetts Turnpike between Beacon Street and Brookline Avenue. The construction of the air rights deck will be the largest air rights structure built in Boston since Copley Place in 1980 and will take approximately 24 months to complete. Upon completion, Fenway Center will consist of more than 960,000 square feet of life sciences space with 10,000 square feet of retail space across two towers. Construction of the life sciences buildings is expected to be complete in early 2025. The campus will also feature 1.6 acres of landscaped green space and a parking garage that will be accessible from both buildings. The green space will include a large plaza and a public pedestrian walkway. The site is adjacent to BOWER, a new 312-unit luxury apartment complex that contains 38,000 square feet of amenity-oriented retail, the Lansdowne MBTA Commuter Rail Station, Fenway Park …

April 19, 2021

Leasing Activity Office Texas

Cushman & Wakefield Negotiates 46,764 SF Office Lease Renewal in Irving

by Taylor Williams April 16, 2021

IRVING, TEXAS — Cushman & Wakefield has negotiated a 46,764-square-foot office lease renewal for the headquarters of FleetPride Inc., a distributor of truck and trailer parts, at 600 Las Colinas Drive in Irving. The 22-story building spans 512,269 square feet. Robbie Baty and Michael Bannister of Cushman & Wakefield, along with Cribb Altman of JLL, represented the tenant in the lease negotiations. Duane Henley of Transwestern represented the landlord, Transcontinental Realty Investors Inc.

April 16, 2021

California Development Office Western

Irvine Co. Opens Innovation Office Park in Irvine Spectrum Business District

by Amy Works April 16, 2021

IRVINE, CALIF. — Irvine Company has opened Innovation Office Park, an open-air office village in the Irvine Spectrum business district. Offering more than 1.1 million square feet of creative and flexible workspace on 73 acres, the property features 28 loft-style buildings naturally connected by a center pedestrian path line. The property features expansive indoor and outdoor space; an indoor/outdoor café with rotating cuisine and walk-up artisan coffee bar; an event-ready pavilion; a private fitness center with spin/yoga studio; and tech-enabled conference and event space. Located at the confluence of interstates 5 and 133, Innovation Office Park’s first eight buildings, totaling 300,000 square feet, are now available for lease. The workplace community offers buildings ranging from 20,000 square feet to 40,000 square feet with suites as small as 2,000 square feet. Companies are able to customize spaces through branded super-graphics on the building exterior and select from a curated menu of private patio furniture and tailored interiors. The buildings also feature oversized roll-up doors, private patios, operable windows for fresh air, MERV-13 air filtration for healthier air circulation and Viracon glass and skylights for maximum energy-efficient daylighting. LPA served as architect and Burton Studio served as landscape architect.

April 16, 2021

Acquisitions Florida Loans Office Southeast

Ready Capital Closes $30.1M Acquisition Financing for Office Property in Tampa

by Julia Sanders April 15, 2021

TAMPA, FLA. — Ready Capital has closed a $30.1 million loan for the acquisition, renovation and lease-up of an approximately 250,000-square-foot, Class B office property in Tampa. Upon acquisition, the sponsor will implement a capital improvement plan to upgrade the property and subsequently lease-up to market occupancy and at market rents. The name of the borrower and property were not disclosed. The non-recourse, interest-only loan features a 36-month term, floating interest rate, two extension options and is inclusive of a facility to provide future funding for capital expenditures and tenant leasing costs. Planned property improvements include new signage, HVAC upgrades, curb replacements and the buildout of rent-ready speculative suites.

April 15, 2021

2445-Technology-Forest-Blvd.-The-Woodlands

Healthcare Leasing Activity Life Sciences Office Texas

NAI Partners Negotiates 25,288 SF Life Sciences Lease in Metro Houston

by Taylor Williams April 15, 2021

THE WOODLANDS, TEXAS — NAI Partners has negotiated a 25,288-square-foot life sciences lease for biotechnology firm Lexicon Pharmaceuticals at 2445 Technology Forest Blvd. in The Woodlands, about 30 miles north of Houston. Dan Boyles and Jon Silberman of NAI Partners represented the tenant in the lease negotiations. The duo also recently arranged the sale of Lexicon Pharmaceuticals’ former headquarters building in The Woodlands.

April 15, 2021

Leasing Activity Office Texas

American Honda Finance Signs 23,142 SF Office Lease Expansion in Irving

by Taylor Williams April 15, 2021

IRVING, TEXAS — American Honda Finance Corp., the leasing and financing solutions arm of the Japanese automaker, has signed a 23,142-square-foot office lease expansion at the 500,000-square-foot Royal Ridge complex in Irving. Timothy Vaughan of CBRE represented the tenant in the lease negotiations. John Brownlee and Michael Williams of JLL represented the landlord, Florida-based Accesso. Honda’s total footprint at Royal Ridge now encompasses nearly 100,000 square feet.

April 15, 2021

Leasing Activity Northeast Office Pennsylvania

GRB Law Signs 17,160 SF Office Lease in Pittsburgh

by Taylor Williams April 15, 2021

PITTSBURGH — GRB Law, a Pittsburgh-based firm, has signed a 17,160-square-foot office lease for its new headquarters at 525 William Penn Place. The firm has operated out of the historic Frick Building as one of its original tenants dating back to the early 20th century. GRB Law plans to take occupancy of its new space in the fourth quarter. Dan Adamski and Reid Mauro of JLL represented the firm in its site selection and lease negotiations.

April 15, 2021

Features Healthcare Office

Medical Coworking Space Can Bolster Office Occupancy

by Taylor Williams April 15, 2021

By Sunny Somaiya, co-founder, WellnessSpace As we navigate what working life and office spaces will look like in a post-pandemic world, one thing is certain — they will not be the same as before. With many companies realizing during the pandemic that their employees can be just as or even more productive working from home, demand for office space may remain low for the foreseeable future. Remote work should thus continue to be a popular option. However, for businesses that require office space but face unprecedented uncertainty about their futures, renting traditional office space may not be the best solution. This is particularly true for private medical and wellness practices, and that is where coworking spaces come in. Coworking spaces have been around for many years and are undergoing a transformation of their own. They provide a great middle-ground choice for businesses that are looking for spaces but want to increase flexibility and avoid signing long-term leases. While traditional coworking spaces appeal to entrepreneurs and business owners, niche coworking spaces have risen in popularity in recent years to meet the demands of specific individuals. Medical and wellness coworking spaces represent a new breed that satisfy an unmet demand for flexible …

April 15, 2021

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