Office Construction is Booming in Seattle
A number of high-profile office projects have been planned in Seattle, Wash. Some of the projects include a $161.2 million, 552,753 square-foot office tower featuring first-floor retail and 384 residential units, a fully-leased 703,000 square-foot office tower with 17,000 square-feet of retail space, and a pair of 24-story office buildings totaling 888,049 square-feet of space.
Transition Acquisitions Purchases Brooklyn Office Building
Transition Acquisitions, a Brooklyn-based property management firm, has purchased an office building in Brooklyn’s Bushwick neighborhood. The building features 105,000 square-feet of space between its six floors. It was purchased for $44 million, a loss of $2 million from the price the previous owners paid.
Mirae Asset Global Investments Receives $68.5 Million in Refinancing
Mirae Asset Global Investments, a Korean financial services firm, has received $68.5 million in refinancing for an office building in Washington, D.C. The 12-story building features a total of 165,604 square-feet of usable space. JLL Capital Markets arranged the loan and the proceeds will be used to repay the existing loan on the property.
Intuitive Surgical Expands with Pair of Purchases
Intuitive Surgical, a Silicon Valley-based American robotics manufacturer, has widened its holdings in Sunnyvale, Calif. after purchasing a number of older industrial buildings. In the two most recent transactions, the firm paid $12.7 million for a pair of buildings totaling 26,000 square-feet of industrial space.
Goodman Realty Group Plans New Office Building in Albuquerque
Goodman Realty Group, an Albuquerque-based real estate developer, is planning to add another building to the Winrock Town Center in Albuquerque, N.M. The three-story building, dubbed The Portland Building, will feature 18,667 square-feet of Class-A office space and 9,333 square-feet of retail space. The project will cost approximately $8.5 million and will be completed in 2022.