National Commercial Real Estate News From CoStar Group
Arnold & Porter Makes It Official: Signs 375,000-SF Lease with Boston Properties for New Bldg. in DC
Boston Properties signed Arnold & Porter to a 20-year deal for nearly 375,000 square feet of office space at 601 Massachusetts Ave., its new mixed-use development in Washington, DC (pictured below). The international law firm will relocate to the property in October 2015.
Arnold & Porter currently leases more than half of 555 12th St. NW, Manulife Financial’s 12-story, 781,963-square-foot office building in the East End submarket.
Exxon Sells Houston Office Tower to Shorenstein
Exxon Mobil Corp. (NYSE: XOM) completed its sale of 800 Bell St., a 1.26 million-square-foot property it occupies in downtown Houston. Shorenstein Properties acquired the office building and its seven-story parking garage for an undisclosed price.
The locally based oil and gas company also inked a leaseback deal, which included full occupancy of the 45-story office tower for another three years.
“This acquisition is in line with our strategy...
RFR Acquires Y&R Headquarters At 285 Madison
RFR Holding, in partnership with an undisclosed real estate investment fund, has acquired the property known as 285 Madison Avenue, a 26-story office building in Midtown Manhattan’s Grand Central district.
Advertising and communications agency Young & Rubicam, which is relocating, sold the 1929-vintage property for a reported $189 million. RFR, a privately held Manhattan-based owner and developer, will invest $50 million in a full repositioning...