KBS’ Post

OFFICE CONVERSION: The Washington Post recently published an article on how #Cleveland leads the nation in the percentage of office space converted to apartments, hotels and other uses.     The article highlights how the city focused on Public Square, the heart of downtown, and how it has helped to revitalize the area. The transformation has been so successful that it has become a model for other cities looking to revitalize their downtown areas.   Apartments immediately around the square increased from about 40 in 2016 to more than 1,200 now:   - The Standard - a former union headquarters converted to 287 apartments, began leasing in 2018  - Cleveland’s iconic Terminal Tower converted to mixed-use with office and 297 units, began leasing in 2019 - The May, the former department store, converted to 307 units, opened in 2020  - Two  former office towers — Residences at 55 Public Square (202 units) and 75 Public Square (114 units) — were converted to luxury apartments, with leasing started over the past two years   Read More:  https://bit.ly/3S4Ezzb   #MarketRent #apartments #office #clevelandrealestate

Property Development News Around San Diego: From Office Complex to Lifestyle Hub! Tower 180 at 180 Broadway Ave. is embarking on a major makeover. The iconic building, now under the new ownership of J Street Space, is set to undergo a $140 million transformation into a mixed-use facility, featuring a hotel, residential units, and retail spaces on the ground floor. 🛠️ What's Changing? The 25-story skyscraper and its eight-story annex, alongside a parking garage, will see a shift from corporate to cozy and chic. Plans include converting lower office floors into hotel rooms and the top floors into residences, aiming for a 2027 grand reopening. 💡 Vision for the Future: J Street Space is exploring the possibility of splitting the property, focusing on hotel conversion for the skyscraper with an ambitious goal of 450 rooms, while contemplating selling the annex. 📊 A Strategic Move: Amidst a 38% downtown office space availability rate, this project is a timely pivot towards more dynamic urban living and hospitality options, reflecting the changing landscape of work and lifestyle preferences post-pandemic. I'd love to hear your thoughts on this new this property development - Do you think this is the right move for the downtown area? . . . . #ChicagoTitle #CommunityUpdate #AroundSanDiego #PropertyDevelopmentNews #RealEstateNews #StrategicBusinessPartner #SanDiegoDevelopments #DowntownSanDiego

Does having a "Trophy" building classification truly impact leasing numbers? Dive into the complexities of office real estate with this insightful article. From iconic landmarks to modern marvels, discover how location, amenities, and historical significance play a role in the demand for prime office space. Explore the trends shaping the industry and learn why the allure of trophy properties goes beyond their prestigious label. Read more to uncover the intricate dynamics driving leasing decisions in today's competitive market. #oregonrealestate #portlandrealestate #oregon #oregonrealtor #portlandrealtor #portlandoregon #pnw #commercialrealestateagent #portland #commercialrealestateagent #pdxrealestate #pdx #pdxrealtor #CRE #pnwcommercialrealestate #officespace #warehouse #realestateinvesting #industrialspace #flexspace #commercialproperty #business #land #portlandrealestateagent 

Castleforge's Founding Partner Michael Kovacs sat down with CoStar News Paul Norman to discuss the latest on our 75 London Wall Street project and the future of office real estate, including the new priority placed on amenities, flexible space, and #ESG. When asked about amenities, Michael said:   "Location is the biggest amenity. An A building in an A location is obviously best. But next in the pecking order, I think if it is an A building in a B location or a B building in an A location then the latter is less likely to be empty."   Read the full article here: https://lnkd.in/d-eSbFEN

FOR SALE! 320 Granville Street, Vancouver BC | Floor Area: 844 sq. ft. Perfect for owner-users or investors, 320 Granville, is an iconic, ultra-premium office tower reshaping Vancouver's skyline. This 844 sq. ft. stratified office space is more than just an address; it's a symbol of prestige and innovation in the heart of downtown Vancouver. Designed for the future, 320 Granville offers flexible co-working spaces, breathtaking views, and lifestyle amenities that are unmatched and essential for businesses prioritizing talent retention and recruitment. Key Highlights: Elegant Boardrooms: Fully equipped, spacious settings for high-level meetings. Innovative Co-working Spaces: Catering to diverse work styles, fostering collaboration and creativity. Health & Wellness Centre: Featuring a gym with panoramic views, wellness rooms, an on-site Registered Massage Therapist, and a fitness studio. The Commuter Club: Premium end-of-trip facilities including secured individual bike storage and showers. Rooftop Lounge: The Rooftop Lounge offers panoramic views of the city skyline, North Shore mountains, and oceanfront. Location Advantage: Steps away from Waterfront Station, offering accessibility via SkyTrain, Westcoast Express, and Seabus, and within walking distance to top restaurants, hotels, and entertainment venues. 320 Granville is not just an office space; it's a statement of success and ambition. Ideal for businesses or investors seeking a prominent presence in Vancouver's vibrant business landscape. Contact Kelvin Luk or William Maunsell for further information. Disclaimer: The following images contain virtually generated staging photos, and currently the premise is in shell condition. #320Granville #VancouverOfficeSpace #PremiumBusinessLocation #IconicDesign #VancouverRealEstate #InnovativeOfficeTower #DowntownVancouver #ExclusiveAmenities #CommercialRealEstateVancouver #CREVancouver

Converting older office spaces into hotels or apartments is not a new concept, but #FortWorth has been leaning into this trend for a while compared to other cities of its size. This strategy has allowed for the adaptive re-use and preservation of several historic buildings in Downtown, while also repurposing several Class B office spaces to help improve the density of the central city. More from Fort Worth Report: https://lnkd.in/gqbNANY7 #HistoricPreservation

Amidst a market experiencing both an uncertainty around offices and a well-documented shortage of hotels, Anthem Properties Group Ltd. is now seeking to modify its plans for the Citizen tower it has planned for the Metrotown neighbourhood of Burnaby, reported Storeys. "The 66-storey Citizen is set to rise at 4657 Kingsway, directly across the street from the Metropolis at Metrotown shopping centre and the multi-tower Station Square mixed-use development Anthem Properties undertook with Beedie. Planned for the tower is a total of 645 residential units, split between 372 strata condominiums, 200 market rental units, and 73 non-market rental units, atop 150,000 sq. ft of commercial space in a seven-level building podium. The project site is currently a vacant piece of land that has been fenced off, with excavation expected to begin in Fall 2024." "As originally planned, and approved a year ago this month, that building podium would include office space and retail space on the ground level. Anthem is now asking the City, in a new rezoning application, to permit hotel use in the building podium." https://lnkd.in/gtt9hsXu #burnaby #office #hotel #development #mixeduse #residential

LEASE Learn More: https://lnkd.in/gcpBeUut IMAGE: Thomas Moran DATE: 05/31/2024 ADDRESS: 225 West Randolph Street MARKET: Chicago ASSET TYPE: Office ~ SF: 35,000 LANDLORD: Onni Group TENANT: Tom Moran - Addison Group LEASE TERM: 12-year NOTE: Onni Group's successful revitalization of its loop office tower, 225 West Randolph Street, sees another win as staffing and consulting firm Addison Group signs a 12-year, 35,000-square-foot lease, adding to the building's momentum following a $140 million renovation. The leasing activity underscores the demand for modern, amenity-rich office spaces amid a remote-work era, with Onni's renovation project, including top-floor amenity space and an indoor-outdoor rooftop deck, expected to be completed early next year. #Chicago #RealEstate #TradedChicago #Office #TomMoran #AddisonGroup #OnniGroup

Seattle's first office-to-residential conversion of the post-pandemic era surfaces There's been plenty of talk across the country about turning old office buildings into housing, and Seattle has what could be the city's first such project of the post-pandemic era. Colliers' newly released fourth-quarter office report noted the conversion plan, stating it's the first local example of an office-to-residential conversion. "It is a prime example of what buildings make sense for conversion: desirable neighborhood, smaller floor plates (13,000 square feet), Class B, built in 1985, and 100% vacant," the report states. Colliers Senior Vice President Dan Dahl said the smaller floor plates are key, providing a relatively short distance from the apartment entry to the windows. "You can't have a bowling alley-like space with a window at the end of the end of it," he said. The feasibility study that Stream submitted to the city shows the plan is for 68 apartments and 66 parking stalls and no commercial space. The study also shows indoor and outdoor amenity spaces on the fifth floor, plus an "urban farm." #seattle #seattlerealestate #seattlehomes #housing #housinginventory #housingdemand #condoliving #condos #condominium #condoconversion #davisgrouprealestate #yourcommunityrealestateteam

Another true Class A office building announced by Crescent Real Estate LLC for Fort Worth is great to see.  Despite what some national headlines say, there's clearly demand for this type of new office product; that is especially true in a market like Fort Worth which hasn't had a lot of new office development, despite all the growth as a city.     https://lnkd.in/g397v5n4