Bowen, Miclette & Britt leased 35,926 square feet at 2800 N. Loop West for the relocation of its head office from 1111 N. Loop West. Jon Silberman of NAI Partners represented the Tenant, an insurance agency with other offices in Louisiana, Arkansas and Florida. Bowen. Brian Strait of Lincoln Properties represented the owner, Hertz Investment Group.

Soft-Tex International, a producer of bedding products based in Waterford, NY, has opened a 170,000 square foot manufacturing facility at 1407 Gillingham Lane in Sugar Land. Beau Kaleel and Brooke Forrest of Cushman & Wakefield represented the owner, Sugar Land Industrial Properties. John Nicholson of Colliers International represented the tenant. The facility, which will create 150 jobs throughout 2021, will be used as a model for two more U.S.-based facilities by the end of 2022 to further increase the company’s domestic production.

On HoustonChronicle.com: Venterra Realty buys land from Cypress for apartment development

Based in Dallas Civitas Capital Group acquired Territory at Greenhouse, a 288-unit, 13-building garden-style apartment complex located at 2500 Greenhouse Road in West Houston. Rootvik Patel and Chandler Kyser led the transaction for Civitas. Marcus & Millichap represented the seller, Maple Creek Apartments LLC, and arranged the financing.

Small 3D Machines leased 5,007 square feet at 5151 Mitchelldale. Jeff Kuper of Lee & Associates represented the tenant. Justin Harrity represented the owner, Hartman Income REIT.

Jang W. Kim, an individual, leased 3,989 square feet at 16420 Park Ten Place. Sarah Seo of HomePlus Realty Group represented the tenant. Ami Figg represented the owner, Hartman Income REIT.

BRS United States leased 3,382 square feet at Two Memorial City Plaza at 820 Gessner. The owner, MetroNational, was represented internally by Warren Alexander and Brad MacDougall. Mark Kidd Sr. and Mark Kidd Jr. of M Kidd Properties represented the tenant.

ATCO Energy signed a 7 acre ground lease for the 3004C Aldine Bender. Jake Wilkinson of NAI Partners represented the tenant.

Slate & Associates Holdings purchased a 2,700 square foot office building at 1635 Dunlavy in Montrose for their family law practice. The seller, 1635 Dunlavy LLC, was represented by Ryan Neyland of Davis Commercial Real Estate

[email protected]

twitter.com/kfeser

In financial terms, funds from the operations of the real estate trust, known as COF, reached $ 102.2 million as of June 30 from $ 85.4 million in the previous corresponding period.

“The success of leasing has resulted in a solid commercial performance [and] COF’s market confidence is bolstered by a FY22 distribution forecast of 16.6 cents per unit, ”said Nichols.

He said COF leased more than 52,000m² of office space during the year in 61 transactions, or 18% of net leasable area – the best ever for the largest pure office fund. play from Australia.

We will see an increase in tenant flexibility in terms of what they offer their employees, but I think working from home has been overrated.

– Grant Nichols, Fund Manager of Centuria Office REIT

He said there had been no significant rent increases on new leases signed and that the average lease expiration had dropped from 4.7 years to 4.3 years.

Much of the demand is for well-connected peripheral offices outside of the CBD, he said.

“The pandemic has accelerated the transition to offices in good locations that allow people to travel and offer end-of-trip facilities and flexible workspaces,” Nichols said.

“Access to excellent public transportation, parks and recreational facilities is increasingly desirable. “

CBD is another matter.

“The biggest expiration date we have is at 818 Bourke Street in the Docklands in Melbourne. We had a vacant 10,700 m² tenant. They had committed to moving before COVID, so it was unrelated to COVID.

“Melbourne has been a challenge because the continued closures have made it difficult for businesses to return to work and even activities such as inspections.

“So it’s a bit problematic. But we are seeing a level of pent-up demand that should return to the market.”

Mr Nichols said 818 Bourke Street has an occupancy rate of 61%.

“We hope that once things get back to normal you will see an acceleration in tenant surveys,” he said.

“In Melbourne, most of the biggest tenant movements probably didn’t happen because of this uncertainty. “

Looking ahead, Mr Nichols said the immediate future of the offices depended on a successful vaccination program.

“Once we have a health solution to the pandemic, I think you will see a lot more companies return to work more fully,” he said.

“We will see an increase in tenant flexibility in terms of what they offer their employees, but I think working from home has been overrated.”

SUNNYVALE – A leading Bay Area real estate company has purchased a modern office building in Sunnyvale that is leased to Nokia in a deal that shows investors are betting on a solid future for Silicon Valley.

GI Partners, acting through a subsidiary, purchased a recently completed office building at 520 Almanor Ave. in the Peery Park neighborhood of Sunnyvale for $ 254 million, according to public documents filed with the Santa Clara County Recorder’s Office on July 20.

The building totals 230,000 square feet and was developed by Lane Partners.

The purchase of the property was accomplished through a deed of concession and assignment of a land lease for the land beneath the sparkling new office building.

GI TC Peery Park is the subsidiary of GI Partners that purchased the building and secured the ground lease, according to county records.

“The deal shows people believe the office market will be back in Silicon Valley,” said David Sandlin, executive vice president of Colliers, a commercial real estate company.

The deal is about $ 1,100 per square foot for the building, which is a healthy market price in Silicon Valley.

The entire building is leased to Nokia, according to the Lane Partners webpage.

Peery Park has become a hotbed of activity in recent times.

In May, Apple leased 701,000 square feet at Pathline Park, a large tech campus Irvine Co. is developing in Sunnyvale.

Irvine also leased space at Pathline Park from technology companies Proofpoint and Synopsys.

Synopsys leases approximately 350,000 square feet in three buildings to Pathline and Proofpoint leases approximately 242,000 square feet in two buildings.

The first half of 2021 was shaped by the second wave of the pandemic, contrary to the optimism of the first few weeks, said Arvind Nandan, managing director (research and advice) of Savills India. “However, despite the market slowdown in the second quarter and a notable annual decline, we believe the second half of the year may show some improvement, as vaccinations resume and occupant confidence returns.”

Increase in new completions

New completions edged up 4% year-on-year to around 18.0 million square feet, with Bengaluru, Hyderabad, Mumbai and Pune seeing an increase in new completions compared to the same period last year, the deferred supply having been completed.

“Bangalore saw the strongest injection of new offerings, with a 36% share, followed by Hyderabad and Delhi NCR at 28% and 22% respectively,” he said.

Vacant jobs

Overall vacancy levels rose to 16.2% at the end of June as the increase in supply outpaced the pace of rental activity, the report said.

“In addition, some occupants have optimized their real estate portfolios to make them an efficient space, driving up vacancy rates in some markets,” said Savills India. “It should be noted that this may be a temporary phenomenon in rapidly changing markets.”

Big business continues

Significant consolidations and expansions contributed to the share of large deals – exceeding 100,000 square feet – in the first half of 2021, accounting for around 43.2% of the overall pie, while leasing of mid-size occupants amounted to 27.7%, according to the report.

Bangalore recorded the highest share of large transactions at 51%, followed by Delhi-NCR and Hyderabad.

The report says small occupants, with spaces under 25,000 square feet, continued to optimize their portfolios, resulting in a 27.7% share of total office leases during the period. considered.

“The activity seems to be resuming. It’s not like it’s still the case, ”said Robert Sammons, senior director of research in the Cushman & Wakefield Bay region. “The recovery really won’t start until 2022.”

Asking rents fell 11.9% to $ 73.24 per square foot per year, from $ 83.11 per square foot a year earlier.

There are positive signs: 80% of eligible residents have been vaccinated, and San Francisco’s unemployment rate fell to 5.1% in May, better than the national rate of 5.8% at the time. The US economy created 850,000 jobs last month, the highest level in 10 months, according to data released Friday.

Sammons said downtown sees more foot traffic and restaurants and bars are filling up.

“It’s still calm, but it’s not as calm as it used to be. You see a lot more people in the streets, ”he said.

Still, Cushman & Wakefield predicts that the vacancy rate will continue to climb to a high of 23% by the end of the year before improving.

The biggest transactions in the second quarter were Figma’s 97,647 square foot lease at 760 Market St., Aurora Labs’ 59,240 square foot lease at 85 Bluxome St. and Sigma’s 50,348 square foot lease. Computing at 116 New Montgomery St.

Levi Strauss & Co. has also agreed to renew its lease at its long-standing headquarters at Levi’s Plaza, which is expected to be the biggest contract during the pandemic.

Genealogy company Ancestry.com, software company Splunk and real estate company Trulia joined the city’s sublet listings in the second quarter.

In Silicon Valley, the office market is recovering faster, Sammons said. In May, Apple leased 701,000 square feet in Sunnyvale, proof that the tech giants continue to develop despite a shift to more remote work.

Roland Li is a writer for the San Francisco Chronicle. Email: [email protected] Twitter: @rolandlisf

How did you get into the industry?

Cynthia Wasserberger: After getting my masters degree in real estate from New York University and relations through their specialty program, I was able to secure a position in real estate brokerage, specific to New York.

What advice would you give to women looking to get into the industry?

I would advise women to confirm that a position involves working with a team and with a specific mentor who can help guide your career. Get involved in a team approach as opposed to an individual solo mentality.

What two things you would like the CRE industry to know about yourself?

Throughout my career, I have made special efforts to hire, recruit, promote and mentor young women and members of my team. This year, I will be celebrating my 25th anniversary in the brokerage industry.

What are the biggest transformations you have seen in the past year?

As tenants return to work, there is a growing desire for flexibility in leases. There is also a huge flight to better buildings and spaces as employers try to encourage employees to return to the office.

What lessons have you learned from management during the pandemic and how will you apply them in a post-pandemic world?

Technology cannot replace in-person collaboration and connection. The post-pandemic result is that there will be a balance of the two, not all or nothing.

NEWTON, Mass .– (COMMERCIAL THREAD) –Office Properties Income Trust (Nasdaq: OPI) announced today that it has completed the acquisition of two Class A office buildings for a total of $ 550.0 million, excluding closing costs.

OPI acquired the approximately 531,190 square foot Class A office building known as 1K Fulton in Chicago, IL for $ 355.0 million, excluding closing costs, reflecting a current GAAP capitalization rate of 4.7% at closing. The property is 73% leased to Google as the Midwestern headquarters and 99% overall, with a weighted average lease term of 6.6 years. This LEED certified property underwent a complete redevelopment in 2015, is located one block from the roof terraces. The property is in Chicago’s Fulton submarket, which has seen strong population growth and modern, mixed-use residential development attracting Fortune 500 companies such as Google and McDonald’s.

OPI also acquired the approximately 345,917 square foot Class A office building known as Twelve24 in Atlanta, GA for $ 195.0 million, excluding closing costs, reflecting a current GAAP capitalization rate of 6.3% at closing. The property is 96% leased to Insight Global as head office and 98% overall, with a weighted average lease term of 14.2 years. The property was built in 2021, includes direct access to MARTA (the Atlanta rail system), and has many amenities including a fitness center, outdoor patio, cafe, downstairs store pavement and a total of 1,023 parking spaces. The property is located in Atlanta’s Central Perimeter submarket, which is the largest employment center in Greater Atlanta and is home to the Fortune 500 headquarters for Mercedes, State Farm, and Nasdaq.

OPI used cash and drew approximately $ 350 million from its unsecured credit facility to fund these acquisitions. OPI plans to sell other non-core properties as part of its capital recycling program to repay withdrawals made under its credit facility used to fund these acquisitions.

Chris Bilotto, President and COO of OPI made the following statement:

“These two Class A office buildings fit perfectly with our objective of owning, operating and leasing properties that are primarily leased on a long-term basis to tenants with high credit quality characteristics. Since starting our capital recycling strategy in 2020, we have sold over $ 280 million worth of properties and are now excited to redeploy the proceeds in these carefully selected acquisitions of newly built core real estate in strong markets and growing, mainly leased to tenants with high credit quality. By selling older properties, those with shorter lease terms or upcoming vacant units, we have eliminated anticipated rental downtime and significant capital expenditures over the next several years. These new acquisitions improve our portfolio metrics and increase our cash flow. ”

Office Properties Income Trust is a real estate investment trust, or REIT, which focuses on the ownership, operation and rental of properties primarily leased to sole tenants and to individuals with high credit quality characteristics, such as government entities. OPI is managed by the operational subsidiary of Le Groupe RMR Inc. (Nasdaq: RMR), an alternative asset management company headquartered in Newton, Massachusetts.

Warning Regarding Forward-Looking Statements

This press release contains statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws. In addition, whenever the OPI uses words such as “believe”, “expect”, “anticipate”, “intend”, “plan”, “estimate”, “will”, ” may ”and negatives or derivatives of such expressions or similar expressions, the OPI makes forward-looking statements. These forward-looking statements are based on OPI’s current intention, beliefs or expectations, but forward-looking statements are not guaranteed to occur and may not occur. Actual results may differ materially from those contained or implied by OPI’s forward-looking statements due to various factors. Forward-looking statements involve known and unknown risks, uncertainties and other factors, some of which are beyond OPI’s control. For example:

• This press release indicates that OPI plans to sell additional non-core properties as part of its capital recycling program to repay withdrawals made under its revolving credit facility used to fund these acquisitions. However, OPI may not be able to successfully sell additional properties in the future or may not realize the proceeds that it may be targeting for such property sales.

• Mr. Bilotto says that by selling older properties, OPI has eliminated the anticipation of rental downtime and significant capital expenditures over the next several years. However, OPI may not eliminate rental downtime or capital expenses as much as it wants and it may have additional vacancies or capital expenses required in the future.

• Mr. Bilotto declares that these acquisitions are accretive to cash flows. However, for various reasons, these acquisitions may not generate cash flow at expected levels or at all.

Information contained in, or incorporated into, documents filed by OPI with the SEC, including under the heading “Risk Factors” in OPI’s periodic reports, identify other material factors that could cause OPI’s actual results differ materially from those indicated or implied by OPI’s forward-looking statements. . The documents filed by OPI with the SEC are available on the SEC’s website at www.sec.gov.

You should not place undue reliance on forward-looking statements.

Except as required by law, OPI does not intend to update or change any forward-looking statements as a result of new information, future events or otherwise.

A Maryland real estate investment trust with transferable beneficial interest shares listed on the Nasdaq.

No shareholder, trustee or officer is personally liable for any act or obligation of the Trust.

NAGPUR: Rail Land Development Authority (RLDA), a branch of Indian Railways, has issued a tender to lease up to 16 plots of land across India. The authority aims to generate around 1,904 crore rupees through the monetization of these plots of land.
One of the 16 sites currently being auctioned includes the commercial operation of the rail land at Amravati station from which the RLDA expects to generate Rs 25 crore.
Other sites include redevelopment of Lucknow Station, Ramgarh Tal settlement (Gorakhpur), land plots at Gomti Nagar (Lucknow), Moula Ali Flyover (Secunderabad), Boulevard Road settlement (Delhi) and land in Salt Golah (Howrah).
“The plots are strategically located in major cities across India and have the potential for residential and commercial development. RLDA will lease these lands to potential developers who will be mandated to develop these sites in accordance with local regulations, ”said Ved Parkash Dudeja, vice president of RLDA.
Dudeja added, “These sites offer huge growth opportunities for investors and developers. Once completed, these sites will lead to economic development, job creation and improved real estate prospects of the respective regions.
Taking the catastrophic effect of the pandemic in its wake, RLDA is targeting 2,000 crore in revenue for Indian railways in 2021-2022. It will be a jump from Rs352 crore the year before, Dudeja said.
The Rail Land Development Authority is a statutory authority under the Ministry of Railways responsible for the development of railway land for commercial purposes. It has four key mandates within the framework of its development plan: the rental of commercial sites, the redevelopment of settlements, the redevelopment of stations and multifunctional complexes.
Indian Railways owns approximately 43,000 hectares of vacant land across India. The RLDA currently manages 84 (new) commercial sites and 84 railway settlement redevelopment projects across the country for rental and eligible developers for each will be selected through an open bidding process.
The RLDA is also mandated for station redevelopment and is currently working on 60 stations in a phased manner, while its subsidiary, Indian Railway Stations Development (IRSDC) has taken on another 63 stations in India.