Commercial Office Space News

Cox Enterprises has revealed that it will build a new 600,000 square-foot office complex in Atlanta.

The Atlanta-based company’s development, one of the most significant in the area in recent years, will house in excess of 1,000 of its employees who currently work in leased office space in different sites across the city. (more…)

In light of consecutive years of declining tax revenues, Vernon Hills has opted to impose a moratorium on businesses not generating sales tax, such as those occupying office space, for the duration of the upcoming 2 quarters.

Trustees of the Californian town recently voted for the temporary suspension of new office lets as Vernon Hall undertakes research in to what is the best commercial solution to combating the contracting economy. (more…)

iQmetrix, a small independant business which develops business software for mobile phone companies, has moved its US headquarters to Davidson, following 5 years at Chartwell office park, Cornelius.

The company, which has its headquarters located in Vancouver, Canada, will move its 14 employees in a 6000 square foot office on the third floor of 445 S Main Street. Although only a small company, the move represents one of the largest corporate relocations in the town’s history, representing a shift from more traditional local industries to technology companies. (more…)

A 15-story office tower in Austin, Texas, is the subject of a $63 million bid from Travis County.

The offer has been accepted by the seller, Travis Reality Corp, meaning that the building containing 315,000 square feet of office space is set to change hands. The deal is expected to cost the taxpayer approximately $10.36 a year per household, according to County Auditor Susan Spataro. (more…)

Lincoln Property Company, a Boston based commercial real estate firm, has announced that it has agreed the renewal of 13,000 square feet of office space in the area.

The real estate firm, which also provides property development, management and appraisal/valuation services, has secured 3 tenants for the serviced office space at 99 Chauncy Street. (more…)

In the fourth quarter of 2009 Las Vegas office vacancy rates rose to a staggering 22.3%, representing the worst statistics in the area for generations.

The city, which has over 40 million square feet of office space, also saw rents drop by 13 cents over the course of the year, down to $2.27 per square foot according to commercial brokerage firm Collier International. CB Richard Ellis brokerage reported similarly worrying trends for the same period, citing a negative absorption of 310,683 square feet of office space. (more…)

As 2009 drew to a close office space vacancy rates stood at a staggering 20% in Silicon Valley, the Californian region synonymous with high-tech and internet companies.

This represents the worst rental market in the region for 15 years and has been attributed to large-scale redundancies over the last 12 months. Stephen Levy, speaking on behalf of the Center for Continuing Study of the California Economy, said: “We were adding space right before we lost some 50,000-60,000 jobs.” (more…)

The US commercial property market continues to attract foreign investors as analysts predict that property values will appreciate in the coming years.

In a survey conducted by the Association of Foreign Investors in Real Estate (AFIRE), the US was the preferred national destination for investors. Meanwhile Washington and New York were second and third respectively in the pole of which cities investors would be placing their money in this year, losing out to London which was on top. (more…)

One of the key decisions made when setting up a new company is what kind of office space to rent and in what location.

In California, the popularity of a new concept has added a further option to this decision making process: the Virtual Office. (more…)

Buffalo Niagara has seen commercial real estate developments put on hold with the recession reducing demand for office space.

Shana Stegner, CB Richard Ellis/Buffalo director of office sales and leasing, has revealed that just130,000 of the estimated 900,000 square feet of planned new office space was been built over last 2 years, representing under one sixth of the predicted level of development. (more…)