Lucian Alixandrescu
Lucian is a senior content writer for CommercialCafe, specializing in commercial real estate research and data-driven reporting since 2019. With deep expertise in industrial real estate, office markets, demographics, and economics, he produces comprehensive market studies and insights on national and regional CRE trends. He also reports on adjacent subjects such as population shifts and the job market. His reports have been cited by and featured in The New York Times, Forbes, NBC, Bisnow, The Business Journals, and Yahoo Finance. Lucian holds a background in language and literature studies and brings more than 5 years of previous freelance writing experience to his commercial real estate journalism.
Cambridge, Mass., Maintains Title as Most Expensive Office Submarket
For the second year in a row, Cambridge, Mass., in the Boston metro was the most expensive office space location, with the top 100 being dominated by California with a third of all entries.
Manhattan Dominates List of Office Properties with Highest Taxes
Office properties commonly net some of the highest property taxes in the nation. In 2021, Manhattan dominated the list of office buildings that paid the most taxes with 82 out of 100 entries.
Life Sciences Boom Propels Cambridge, Mass., to 2021’s Most Expensive Office Submarket by Average Sale Price
Cambridge, Mass., overtook top destinations in California and New York City to become 2021’s most expensive submarket for office space. The boom experienced by the life sciences sector in recent years has likely contributed to this development, as several high-profile office sales in the Boston metro were tied to life sciences landlords.
Newmark Completes $815 Million Sale of 2-Building Office Complex in Cambridge, MA
Newmark announced it had completed the sale of a 408,000-square-foot office complex in one of Massachusetts’ most prestigious neighborhoods and life sciences hotspots.
United Rentals Inc. Joins ESRT Tenant List at First Stamford Place
Empire State Realty Trust recently announced it had added another tenant to its prestigious roster in one of Connecticut’s most sought-after business parks.
Innovatus Capital Partners Acquires 5-Story San Diego Office Building
Innovatus Capital Partners, a New York City-based portfolio management firm, recently announced the purchase of the Pinnacle, a five-story, 110,128-square-foot office property in the San Diego suburb of Rancho Bernardo, Calif. A branch of real estate firm Lincoln Property Company is set to provide property management services for Innovatus’ new office building, marking Lincoln’s 13th…
Industrial Campus in Los Angeles’ South Bay Sells for $182 Million
Newmark announced the sale of a 576,000-square-foot industrial tech campus in the Los Angeles metro for $182 million.
Downtown-Financial District Becomes Boston’s Most Expensive Neighborhood
With a median home sale price of $1.25 million, the Downtown-Financial District became Boston’s most expensive neighborhood in the first half of 2021.
NHRA Sells Glendora Office in Bid to Relocate to Indianapolis
The National Hot Rod Association (NHRA) recently listed for sale its headquarters in Glendora, Calif., as part of its plans to relocate to Indianapolis. After the experience of working from home due to the pandemic, the NHRA has determined that it can reduce its 28,335-square-foot office and warehouse footprint in Glendora, which is considered the…
Hines Fund Pays PG&E $800M for San Francisco Office Property
A fund affiliated with Hines recently agreed to purchase PG&E’s San Francisco headquarters as the utility and energy company is preparing for a relocation and consolidation in Oakland.
NYC Suburbs That Drew Homebuyers During COVID-19
Key Takeaways: Home sales dipped in NYC, but increased substantially in many of the city’s suburbs Suburbs in New Jersey & Connecticut were largely ahead of those in New York state Buyers generally preferred larger, detached homes further from NYC proper Toms River, N.J., saw largest the increase in sales activity in 2020 with 492…
The 50 Most Expensive Submarkets for Office Space in Q4 2020
A recent study highlighted the 50 most expensive submarkets for office space, finding that most are concentrated in select markets in California and New York.
MetLife Investment Management Sells 304,000-Square-Foot Denver Office Building
Metlife’s asset management branch recently announced the sale of a 304,000-square-foot office tower in Denver for $74.3 million.
Highwoods Properties Acquires 636KSF Raleigh Office Complex
The REIT paid $131 million for its venture partner’s 75% stake in a Raleigh office campus.
CIM Commercial Trust Signs New Long-Term Tenant in Austin Office Campus
REIT CIM Commercial Trust signed a tenant for eight years in one of Austin’s most popular destinations for office space.
PennyMac Signs Lease for 75KSF Phoenix Office Building
Mortgage lender PennyMac Loan Services recently announced it had signed a lease for 3201 E. Elwood St. in Phoenix, a 74,625-square-foot office building. The landlord — Oklahoma City-based Arnold Realty LLC — was assisted in the negotiations by JLL managing directors Mark Gustin and Dave Seeger. Situated right next to I-10 and within easy access…
Specialty Lender Trinity Capital Inc. Signs Lease for New HQ in Phoenix
Trinity Capital — a lender specializing in loans and equipment financing for growing tech companies — announced a lease for an office space in Phoenix that it intends to turn into its new headquarters.
Apple Leases 2 Additional Floors in Midtown Office Building
Apple recently announced it had signed its biggest lease yet in New York City — a 336,000-square-foot office space in Midtown Manhattan.
Brookfield Acquires 343K SF Office Building in Bellevue, Wash., for $365M
Brookfield announced it had purchased a 343,000-square-foot Bellevue commercial property currently occupied by Facebook.
Centric Brands Signs 212K SF Lease in Empire State Building
Centric Brands signed a lease for 212,000 square feet of office space in the Empire State Building directly from the property’s owner, the Empire State Realty Trust.