02 September 14
Invesco Real Estate Renews Morgan, Lewis & Bockius, LLP in Washington, DC's East End
Global real estate investor, Invesco Real Estate, renewed a 268,000 square-foot long-term lease for the Washington Office of Morgan, Lewis & Bockius, LLP at 1111 Pennsylvania Avenue, NW, one of Washington, DC’s most prominent addresses. The lease agreement includes modernizations and upgrades to the base building systems to ensure continued high quality operations throughout the lease term. CBRE’s Randy Harrell and Kevin Howard renegotiated the release on behalf of Invesco Real Estate.
14 August 14
High-Tech Industry Growth Powers Strong Rent Increases In Washington, D.C. and Baltimore Over Past Two Years
Robust high-tech employment has played a major role in the recovery of the U.S. office market and has helped fuel double-digit rent growth in eight U.S. markets over past two years, according to CBRE Group, Inc.’s latest research report, U.S. Tech-Twenty: Measuring Office Market Impact. The Bay Area accounted for the top three markets for rent growth – San Francisco, Silicon Valley and the San Francisco Peninsula respectively – followed by Manhattan, Denver, Austin, Boston and San Diego. Washington, D.C. ranked 15 and Baltimore ranked 14 in terms rent growth.
CBRE has been appointed by Multi-Employer Property Trust (MEPT) and its real estate advisor, Bentall Kennedy, as the exclusive leasing agent for Patriots Plaza I, II and III, a 981,116-square-foot office complex located in Southwest Washington, D.C. The three building campus, located at 395, 375, and 355 E Street, SW, combines the security features and first-class amenities most sought after today by businesses and government agencies in the Washington, D.C. area.
CBRE Sells Rare Multi-Tenant Industrial Portfolio in Baltimore Area
CBRE arranged the sale of the Beltway West Industrial Portfolio, six industrial/flex properties on the west side of Baltimore. Cabot Properties, a private equity real estate fund advisor, acquired the 369,979 square feet of properties from First Industrial Realty Trust, Inc.
30 July 14
"Megapolitans" and Supply Chain Efficiency to Drive U.S. Industrial Market
The ever-evolving global supply chain is prompting distribution companies that process freight shipments between the U.S. and Asia to optimize their U.S. industrial real estate portfolios to increase efficiencies and cost savings. These companies are heavily scrutinizing transportation costs in East Coast and West Coast seaports—and inland cities with strong transportation links—locating facilities in markets best able to serve established and emerging “megapolitan” areas in a quick, cost-effective manner, according to the latest report from CBRE Group, Inc., Transportation Cost Equivalence Line: East Coast vs. West Coast Ports.