Martin Selig Real Estate, a commercial property developer in Seattle, has defaulted on $135 million in loans against three office buildings after failing to secure refinancing.
Tag: Office Building Bust
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TOP TREND 2023: OFFICE BUILDING BUST
The Trump administration’s plan to slash the federal workforce will dump millions of square feet of empty square feet onto the office property market nationwide at a time when the sector is just beginning to stabilize after sliding for the past five years, The Wall Street Journal reported.
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TOP TREND 2023: OFFICE BUILDING BUST
Investors began to return to commercial properties in the latter part of 2024 but are still avoiding office buildings as a category, the Financial Times reported.
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TOP TREND 2023, OFFICE BUILDING BUST: COMPANIES FINALIZING POLICIES REGARDING REMOTE WORK
With the U.S. labor market settled into a normal balance and open jobs less plentiful, more employers are becoming more strict about white-collar workers putting in at least some of their work time at central offices.
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TOP TREND 2023, OFFICE BUILDING BUST: COMPANIES ORDER WORKERS BACK TO OFFICES, LEASE MORE SPACE—BUT…
In a sign that the tumbling market for office space might be bottoming out, companies are ordering workers back to the office and, as those employees comply, businesses are finding they need to expand their office space, The Wall Street Journal reported.
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TOP TREND 2023: OFFICE BUILDING BUST: LANDLORDS OFFER TURNKEY OFFICE SUITES TO LURE TENANTS
In Canada, where the office vacancy rate rose to 14.7 percent in the third quarter, office landlords are offering prospective tenants turnkey office suites, with desks, chairs, breakrooms, and other accouterments already in place.
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TOP TREND 2023: OFFICE BUILDING BUST
At the 2020 onset of the COVID War and the shift to remote work, we correctly had forecast in May of 2020 that office buildings’ market value would plunge.
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TOP TREND 2023, OFFICE BUILDING BUST: OFFICE TOWERS FALLING
American Equity Partners (AEP) bought 1 Tower Center, a 24-story office block, in 2019 for $38 million—a good deal at the time but a higher price than many similar buildings fetch now.
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TOP TREND 2023: OFFICE BUILDING BUST
Buildings constructed for life sciences companies—decked out with labs, clean rooms, sensitive ventilation systems, and other custom details—were prime investments as the COVID War raged.
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TOP TREND 2023, OFFICE BUILDING BUST: DESPITE RECORD VACANCIES, NEW YORK CITY’S OFFICE BUILDINGS RISE IN VALUE
Even with a vacancy rate just below 25 percent, the assessed value of Manhattan’s office buildings has crept up from $202.3 billion to $204.8 billion since July 2020, when the COVID War sent workers home and market values sliding.
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