Monday, January 7, 2013

Microsoft Inks 200,000-SF Lease at 11 Times Sq

National Commercial Real Estate News From CoStar Group

Microsoft Inks 200,000-SF Lease at 11 Times Sq

Computer and software giant Microsoft has signed a long-term lease for 203,693 square feet on the lower floors at 11 Times Square in New York City.

The brand new, 1.1 million-square-foot, 40-story, class A office tower is located at the corner of Eighth Ave. and 42nd Street in Manhattan's Times Square submarket. It is owned by a joint venture of SJP Properties and private investors advised by Prudential Real Estate Investors.

The LEED Platinum...

CBRE Buys RREP To Boost Atlanta Presence

CBRE Group acquired the commercial real estate services businesses of Atlanta-based Resource Real Estate Partners (RREP) and TPA Realty Services, a move that will add more than 13 million square feet of office and industrial assets to CBRE’s Atlanta property management portfolio and approximately 70 leasing and property management personnel.

RREP/TPA employees involved in the sold businesses will be integrated into CBRE’s existing offices in the...

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...

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