Jonathan Schultz’s Post

Oxygen has acquired 11 Leadenhall Street in the City of London, a 15,117 sq ft freehold office building, as part of a strategy to exploit returns from smaller lot sizes. It comprises a basement, ground floor and seven upper floors, including a retail unit let to Starbucks. The building is let to seven tenants with an occupancy rate of 91%.  Jonathan Barber Head of Asset Management at Oxygen, comments: “11 Leadenhall Street is the first acquisition for our value-add office strategy in Central London. The building fits our investment criteria and our plan is to upgrade the building, providing best-in-class offices and new amenity facilities with sustainability principles embedded into our decisions from day 1.” The acquisition demonstrates our belief in the future performance prospects for best-in-class offices in core Central London locations and remain poised to take advantage of compelling opportunities to purchase under-performing office assets, which require capital investment and a specialist skill set to reposition them.  Aston Woodward Founder at Oxygen says: “In 2005 our first asset repositioning project was on Leadenhall Street, and some years later we are back. We believe there is an excellent opportunity to capture growth by delivering our planned upgrades to the building and creating design led fitted offices across the floors aligned to current occupier requirements.” #offices #officestrategy #workplace #sustainability #sustainableworkplaces

We aim to push the sustainability credentials as we work through this asset as well as make it a nicer place to occupy. Will be some interesting lessons learnt as smaller buildings are often harder to reposition.

In this edition of our Submarket Spotlight Series, we focus on the Natick and Framingham office market. Our Q1 2024 Market Report delivers detailed insights into the leasing activities, strategic relocations, and key transactions that define this evolving market. Key Highlights from Q1 2024: The Natick and Framingham office market is adapting to new leasing strategies, with efforts to directly market previously uncounted spaces, such as the 55,362 square feet at 200 Crossing Boulevard. Significant transactions, like the lease at 100 Pennsylvania Avenue and the purchase of 1 Tech Circle, highlight the strategic movements of tenants seeking suitable locations for their needs. A trend towards direct leasing and immediate occupancy reflects a responsive approach to current market demands, providing businesses with needed flexibility. The potential repurposing of the 87,000 square foot office building at 5 Speen Street presents opportunities for innovative uses, catering to the evolving needs of tenants and investors. Dive into our report for a comprehensive analysis of the market health, notable transactions, and trends we’re keeping an eye on. Read the full report here: bit.ly/rwhq1marketreport Stay connected for more weekly insights into each submarket, carefully curated to elevate your real estate strategy. #CommercialRealEstate #MarketInsights #GreaterBostonCRE #BostonRealEstate

Exciting news for the New Jersey office market! Despite challenges, Q4 2023 saw a 103% surge in leasing demand. Tenants are upgrading to Class A spaces, driving positive momentum. Tenants are focused on upgrading their spaces, with 85% of leasing occurring in Class A buildings. Direct leases and subleases at Class A properties indicate a commitment to office space and a persistent demand for top-tier spaces. It's an exciting time for New Jersey's office market. Read more about this promising trend: https://lnkd.in/eSjUf9cb #NJOfficeMarket #RealEstate #LeasingTrends #OnyxEquities #EconomicRecovery #CommercialRealEstate #CRE #NewJersey #BackToOffice

From JLL research today on the Manhattan office market: “Steady leasing activity in Trophy and Class A buildings push YTD leasing 16% higher than the same time last year, with ~5.8 million sf leased.” Last week, I looked at the comparable sublease market for a client looking to sublease some of their Prime, Plaza District Manhattan expansion space for 3 to 5 years. It’s a 25,000-sf full floor, which can be leased in its entirety or divided into units of ~4k, 6k and 15k sf. Despite the doomer MSM reporting on the office market, we found there were only 36 competitive Prime Plaza sublease spaces in the range of 5k to 30k sf. The low/high ranges show only 8% (3 spaces) in the 20-30k range, while 42% (15) were in the 10-20k range.  Of the total group, there were only 15 spaces offering 3-to-5-year terms, as shown below. Very few choices in the small to mid-size range, 60% were ~15k. #nyc #nycrealestate #realestate #newyork #ny #cre #office #rto #wfh #commercialrealestate #futureofrealestate #cfo #assetmanagement #hedgefunds #privateequity #familyoffice

Changes in Commercial Real Estate Overview: The commercial real estate market is undergoing changes with the rise of remote work leading to decreased demand for traditional office spaces, while warehouses and logistics centers boom due to increased online shopping. Implications: Investors and developers may shift focus towards industrial and residential properties, and repurposing vacant office spaces into co-working environments or residential units could be a growing trend. 📞 (407) 743-6593 📧 housesforsalefl@gmail.com #Broker #realestate #Realtor #BenchmarkRealestategroup #ToreyEisenman #CentralFlorida #RealEstateInsights #StayInformed

Changes in Commercial Real Estate Overview: The commercial real estate market is undergoing changes with the rise of remote work leading to decreased demand for traditional office spaces, while warehouses and logistics centers boom due to increased online shopping. Implications: Investors and developers may shift focus towards industrial and residential properties, and repurposing vacant office spaces into co-working environments or residential units could be a growing trend. 📞 (407) 743-6593 📧 housesforsalefl@gmail.com #Broker #realestate #Realtor #BenchmarkRealestategroup #ToreyEisenman #CentralFlorida #RealEstateInsights #StayInformed

Dive into the latest insights on the office market's pre-leasing trends. Colliers' report highlights a positive outlook, with an overall pre-leasing rate of 46.2%. Manhattan takes the lead at an impressive 83.3%. The construction landscape is robust, with 36.4 million sq ft across top markets. Urban submarkets dominate, constituting 59.6% of construction activity in square footage. #oregonrealestate #portlandrealestate #oregon #oregonrealtor #portlandrealtor #portlandoregon #pnw #commercialrealestateagent #portland #commercialrealestateagent #pdxrealestate #pdx #pdxrealtor #CRE #pnwcommercialrealestate #officespace #warehouse #realestateinvesting #industrialspace #flexspace #commercialproperty #business #land #portlandrealestateagent

Changes in Commercial Real Estate Overview: The commercial real estate market is undergoing changes with the rise of remote work leading to decreased demand for traditional office spaces, while warehouses and logistics centers boom due to increased online shopping. Implications: Investors and developers may shift focus towards industrial and residential properties, and repurposing vacant office spaces into co-working environments or residential units could be a growing trend. 📞 (407) 743-6593 📧 housesforsalefl@gmail.com #Broker #realestate #Realtor #BenchmarkRealestategroup #ToreyEisenman #CentralFlorida #RealEstateInsights #StayInformed

Check out this midyear Chicago Office Market Update! https://lnkd.in/gG9ffaUc The #ReturnToOffice movement in Chicago continues, with tenants prioritizing well-located buildings with newer amenities and collaborative spaces. The demand for better assets has caused an uptick in Class A rental rates, thereby forcing landlords of higher vacancy properties to be more versatile and strategic in their leasing approach. Sublease activity has slowly declined, with many spaces going back to landlords on a direct basis, further pushing vacancies across the market. https://lnkd.in/gG9ffaUc # . # . # . # . # #RealEstateTrends #OfficeMarket #CommercialLeasing #TenantRepresentation #ChicagoRealEstate #ChicagoBusiness #WorkplaceTrends #OfficeSpace #ReturnToTheWorkplace #SpacePlanning #WorkplaceStrategy #CRE #NewOffice #CommercialRealEstate #CommercialRealEstateBroker