Tag Archives: major

Facebook Linked to Major Lease for Entire 17-Story Austin Office Tower

Social Media Giant Reported as Mystery Fortune 100 Occupant Behind Austin’s Newest Significant Workplace Offer

If Facebook is the Fortune 100 firm behind the full-building lease for TIER REIT’s Domain 12 (revealed above) it will be the social networks firm’s second location in the north Austin workplace complex. The company currently leases over 100,000 square feet in the neighboring Domain 8 structure.

Social network giant Facebook could be the secret tenant behind a “strictly personal” big lease totaling 320,000 square feet, spanning 17 floorings at the soon-to-be-completed Domain 12 workplace tower in Austin.

Dallas-based property investment trust TIER REIT is developing the structure at 3110 Esperanza Crossing slated for completion in December 2019. That’s when, probably, Facebook staff members might possibly move into the space.

Nevertheless, those details were not right away available on Wednesday after TIER declined to comment beyond an earlier statement it released confirming it had finished a lease with a Fortune 100 business for the totality of its Domain 12 structure, adding that the terms of the lease were “strictly private.”

Mentioning several market sources in the state’s capital, the Austin American-Statesman ran a story linking Facebook to the earlier announced lease. In reaction to a request for comments from CoStar News, a Facebook spokesperson for the business’s Austin operations said the company didn’t have “anything brand-new to share about our centers in Austin at this time.”

Facebook Inc. does take place to be a Fortune 100 company, ranking at No. 76 on the publication’s list, and has a big, growing presence in Austin.

Along with announcing the full-building lease deal, Scott Fordham, TIER REIT’s chief executive, verified strong tenant need for the next structure planned in The Domain advancement, and validated in a statement that his company prepares to begin construction on the next workplace tower in the task.

“In addition to totally leasing our Domain 12 development job more than a year in advance of its anticipated completion, our company believe we are well-positioned to begin advancement of Domain 10 next month with letters of intent surpassing 350,000 square feet,” stated Fordham in a declaration.

In an at-the-market equity offering program, TIER REIT raised $130 million in gross proceeds this year, which is expected to help the REIT to fund its development activities. Domain 10 is a 300,000-square-foot office complex planned for a site adjacent to its other Domain towers in Austin.

“Looking beyond Domain 10, we are completely designed and entitled at Domain 9, a 330,000-square-foot prospective development that can accommodate extra workplace need within The Domain,” Fordham included.

TIER REIT is establishing the job with the aid of Austin-based Endeavor Property Group, the firm that is overseeing leasing and management of Domain 12. Gensler is the task architect.

The Texas state capital’s innovation scene has actually been growing as business on the East and West Coast see the Lone State state as an economical choice in hiring brand-new staff members.

Previously this year, another tech company, job hunting website operator Undoubtedly, likewise signed a big lease in Austin, taking more than 300,000 square feet of office space to assist house about 3,000 staff members.

Facebook opened a little, seven-person workplace in Austin 2010, turning into one of the very first significant U.S. tech companies to open an office in the market. The brand-new lease with TIER REIT will develop its fourth significant area in Austin, with a major presence in north Austin and downtown.

Facebook currently inhabits a little more than 100,000 square feet at another structure in the expanding Domain complex located in north Austin in Domain 8 at 11601 Alterra Pky. With its brand-new dedication in Domain 12, Facebook will have more than 420,000 square feet in north Austin.

Meanwhile the firm continues to expand its downtown Austin workplace place also. Last month, Facebook moved into extra workplace the firm rented in downtown Austin, occupying 231,506 square feet in Third + Shoal, at 208 Nueses St. In November, it is preparing to expand into an additional 58,412 square feet in another downtown Austin structure at 300 W. Sixth St., where it will inhabit an overall of 205,188 square feet.

In addition to Facebook, Austin’s tech lineup consists of such other significant players as Google and Undoubtedly, both of which have actually leased hundreds of thousands of square feet of workplace to accommodate their growth.

Also the U.S. Army in July picked Austin for the home of its brand-new Futures Command center, after a months-long search of 150 cities throughout the nation.

Savannah Historic District to Get Major Job, Swelling Development Rise in Georgia'' s Oldest City

A New York designer is set to turn an old Savannah, Georgia, commercial website into one of the biggest projects in the regional Historic District, extending a surge of development in a city struggling to keep its appeal while taking advantage of its growing national appeal.

Spandrel Development Partners, a real estate investment and advancement firm, will start building this month on 630 Indian St., a task that will make up 275 high-end multifamily units, 6,000 square feet of amenity area and 9,000 square feet of retail. The general job will be 360,000 square feet, making it among the biggest buildings in the downtown historical location of Georgia’s first city.

Spandrel simply closed on a building loan for 630 Indian St., according to HFF’s Atlanta workplace, which assisted Spandrel secure debt and equity for the task. The equity partner is AllianceBernstein LP, whose realty group handles debt and equity funds amounting to $7.5 billion.

“The closing of this property allows us to play an important function in the ongoing advancement and repositioning of real estate within the flourishing city of Savannah,” stated Emanuel Neuman, co-founding principal of Spandrel.

Savannah, located 250 miles southeast of Atlanta, is getting increased interest from national realty business as the city grows, thanks in part to the Savannah College of Art and Style and the Port of Savannah. The college, known as SCAD, has contributed to renewing much of the Historic District. Likewise, several boutique hotels have simply delivered or are under building to meet demand from a growing tourist industry.

Always a popular traveler destination, interest in Savannah took off after author John Berendt released his book, Midnight in the Garden of Good and Evil, in 1994. The nonfiction book centers on a regional antiques dealer charged with killing a male prostitute in Savannah. The New York Times finest seller, later on made into a movie directed by Clint Eastwood and starring Kevin Spacey, highlighted a number of local real-life characters including The Girl Chablis, a transgender drag entertainer who passed away in 2016.

On Broughton Street, Arcadia Real Estate Trust, a REIT based in Rye, New York, is working to refurbish lots of historic buildings and develop a collection of upscale retail shops. Arcadia’s partner, Ben Carter Residences of Atlanta, has actually acquired nearly 40 homes on Broughton, once the hustling company and retail center of Savannah, for the Broughton Street Collection.

Spandrel’s 630 Indian St. has to do with 6 blocks far from Broughton Street. It’s located only a block far from Savannah’s popular River Stroll and River Street, a huge draw for tourists. The development is likewise only obstructs away from the picturesque Talmadge Bridge that spans the Savannah River as part of U.S. 17. Spandrel said its new houses will provide direct views of the Savannah River and Talmadge Bridge.

Spandrel got the 1.7-acre website at 630 Indian in May, paying $6.53 million, inning accordance with CoStar data. The website is home to 3 little industrial structures that will be razed to make way for the mixed-use development.

The business stated the new multifamily houses at 630 Indian will assist the city meet a few of the increased need for homes in its historic core. “630 Indian Street will offer a fully amenitized downtown way of life in one of Georgia’s fastest-growing cities,” said Ian Levine, a co-founding partner at Spandrel. “Our firm’s strengths lay in its ability to look for unique advancement chances in cities primed for excellent growth.”

In addition to Savannah, Spandrel is establishing a number of projects in Charleston, South Carolina, another Southern seaport city and a development and tourism competitor of Savannah. Spandrel likewise is active in New York.

The 630 Indian St. development is expected to open in the 4th quarter of 2019.

Task Neon highway task reaches major milestone

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NDOT The Nevada Department of Transportation is setting up Active Traffic Management indications as part of Job Neon, as displayed in this making.

Saturday, July 7, 2018|2 a.m.

. The third and final major stage of Task Neon, dubbed the Centerpiece, reached the middle in its construction this week.

In general, the almost $1 billion, 4-mile-long widening of Interstate 15 from the United States 95 interchange to Sahara Opportunity that began in 2016 is now 73 percent total, the Nevada Department of Transportation reported Friday.

Deal with the task is expected to wrap up next summer season.

” Reaching the middle on the most impactful phase of Project Neon is a major milestone,” stated Dale Keller, NDOT project manager. “We wouldn’t be where we are without the efforts of our professional and the assistance of the community.”

The first half of the Main Event saw 9 bridges demolished, while building began on 12 bridges. The brand-new Martin Luther King Boulevard/Pinto Lane on-ramp to southbound I-15 opened, as did the new southbound I-15 off-ramp to Charleston Boulevard.

Drivers next week can anticipate to see the following influence on I-15:

– The northbound and southbound lanes will be lowered to one lane in each instructions from 11 p.m. Monday to 6 a.m. Tuesday, and once again from 11 p.m. Tuesday to 6 a.m. Wednesday.

– Lanes in between Alta Drive and D Street will be shifted to the west, onto the brand-new southbound lanes, for the next half of The Centerpiece building and construction.

– The D Street on-ramp to southbound I-15 will open by 6 a.m. Tuesday.

– The northbound off-ramp to D Street will close at 11 p.m. Tuesday and remain closed through mid-November.

Walgreens Indications Deal to Sign Up With List of Major Corporations Opening Workplaces in Downtown Chicago

Deerfield-based HQ Will Stay Put; 200,000-SF Downtown Offices in Redeveloped Old Post Workplace Building to Home 1,800 Digital, IT Workers

Pictured: Making of redeveloped Old Post Office.Walgreens is coming back to downtown Chicago. The Deerfield, IL-based drug store giant said Friday it will put some 1,800 workers in the redeveloped Old Post Workplace at 433 W. Van Buren. The 117-year-old business stated it will take 200,000 square feet of office

area at the site, a move that will expand the business’s Innovation Center of Quality for digital and IT operations that support the Walgreens service, along with a few of its moms and dad Walgreens Boots Alliance’s international IT workers. About 1,300 people will be moved to Chicago as the company combines the personnel at

its digital office in the Sullivan Center, at 36 S. Wabash Ave., into the new workplace. As soon as finished, the corporate office will hold the largest variety of Walgreens staff members ever in downtown Chicago. The business will keep the Walgreens Boots Alliance headquarters and 3,200 workers in north rural Deerfield, the company said.

Workplace renderings are anticipated to be unveiled at an interview Monday with Chicago Mayor Rahm Emanuel. Like McDonald’s, Motorola, Kraft and other business that have moved or opened offices in downtown Chicago in recent years, Walgreens stated the relocation is part of

an effort to draw millennials to its corporation.”Purchasing our infrastructure and developing our digital and technical abilities are necessary aspects of our company improvement technique, as we work to improve gain access to for our clients and enhance the consumer experience,”Alex Gourlay, president of Walgreens, said in a declaration.” The space in the iconic Old Post Workplace building enables us to attract and maintain the best skill from all Chicagoland.” The Post Office.Walgreens is the very first major workplace renter to ink an offer there, most likely to offer New York-based 601W Cos. a big boost in its efforts to lease the 2.8-million-square-foot redevelopment. 601W is in the middle of an

$800 million redevelopment of the website into a Class A workplace and retail space that will also tie it into the western bank southern branch of the Chicago River for the very first time. The space, which is actually three interconnected structures, was integrated in stages beginning with a six-story brick-and-terra-cotta structure in 1921. By 1933, the balance of the Art Deco-inspired building was finished

to develop exactly what Popular Science stated was the”biggest post office on the planet,”which was”more like a factory than a post workplace.”Its building and construction was required by the assault of bundles created by Montgomery Ward’s and Sears Roebuck, 2 Chicago-based rival mail-order giants then in the retail market. The outside of the nine-floor south tower and the 12-story north tower remain in limestone and were built with a 40-foot large rectangular hole to make room for a Congress Street growth southern Loop to Chicago’s west side, inning accordance with the Architects Paper. The site has direct access to Interstates 90, 94 and 290. An Amtrak rail center is located under the building, accessible from Union Station. The United States Post Workplace stated then that it anticipated the brand-new structure to deal with 19 million letters a day by 1943, as well as parcel post packages and papers.”In one year, it is approximated, the overall quantity of mail dealt with would suffice to fill totally a structure

4 times its size, “according to an August 1931 Popular Science article. Most likely the most stunning part of the building is its historical main lobby off Van Buren, outfitted with white marble and gold-glass mosaics that are being entirely brought back. 601W, which said in December that it had actually protected a $500 million building loan from JP Morgan, likewise has prepare for a hotel, 10,000 square

feet of retail and restaurant area, a food hall, and an outdoor plaza at the northeast side of the site that abuts the river at Van Buren. A 20,250-square-foot gym will include a boxing ring and heavy bags, plus there are plans for an atrium library, and a roof terrace that will include dining, an amphitheater, a running course and bocce courts. 601W purchased the residential or commercial property, which has been uninhabited for Twenty Years, in May 2016 for$ 130 million after a redevelopment proposal was abandoned since of lack of funding. The building, designed by Graham, Anderson, Probst & White, is on the

National Register of Historic Places, and the city granted it landmark classification in February. That offered its owners access to Prepare County’s Class L property tax reward program, which lowers the tax rate on designated landmarks going through significant rehab. Walgreens roots are on the south side of Chicago

, where it began as a single drug store in 1901. It is now 8,100 stores strong in the United States, Puerto Rico and the Virgin Islands, 120 of which remain in Chicago. In 2014, it acquired the Alliance Boots chain of appeal and drug shops based in Europe.

'' Major announcement' ' intended on elusive serial killer

Wednesday, April 25, 2018|9:40 a.m.

SACRAMENTO, Calif.– The Sacramento County District Lawyer’s Office plans to make a ‘major statement” in the case of an evasive serial killer they state devoted at least 12 homicides, 45 rapes and dozens of thefts throughout California in the 1970s and 1980s.

District Attorney’s spokeswoman Shelly Osorio states a press conference will be held Wednesday afternoon in Sacramento to make “a significant announcement.”

FBI and California officials in 2015 restored their look for the suspect dubbed the East Location Rapist and announced a $50,000 benefit for his arrest and conviction. He’s connected to more than 175 criminal activities in all between 1976 and 1986.

A lady who was sexually assaulted by a man believed to be the East Location Rapist in 1976 and now lives in South Carolina informs The Island Package newspaper Wednesday that she has been called by 2 investigators about an arrest.

ExxonMobil, Pfizer Most Current to Announce Major Re-Investments in Reaction to Tax Reform Law

Take advantage of ‘Repatriated’ Capital Might Lead To Short-Term Infusion in Some CRE Markets as Companies Fast-Track Growth Plans

Later this spring FedEx will release details of its strategy to update and broaden its ‘SuperHub’ in Memphis, which presently spans more than 850 acres and utilizes more than 10,000 employees. Credit: FedEx Corp.ExxonMobil, Pfizer and FedEx Corp. are the current corporate titans to announce multi-billion financial investments in facilities, employee payment and pension in recent days, signing up with Apple and other large employers announcing capital spending programs following passage of the enormous tax overhaul in December. ExxonMobIl CEO Darren Woods today said the world’s 10th-largest

company will invest an overall of$50 billion over the next 5 year in its U.S. operations, consisting of $35 billion in new costs stimulated in part by enactment of the United States Tax Cuts and Jobs Act, signed into law by President Donald Trump on Dec. 22. Pharmaceutical giant Pfizer Inc. Tuesday stated that it means to invest$5 billion over the

next 5 years due to anticipated savings from the tax reform law, including a growth of Pfizer’s U.S. production infrastructure and other capital projects. FedEx, on the other hand, exposed strategies a few days ago to invest$1.5 billion to”significantly broaden”its Indianapolis shipping center as well as to expand and update its 2 million-square-foot Memphis “extremely center” opened in 1988 in a major program to be revealed this spring. The facilities are Fed Ex’s biggest and second-largest hubs, respectively. Although the shipping giant did not elaborate on the specific provisions of the brand-new tax law that stimulated the announcement, the tax

code now enables companies to immediately cross out the amount of capital expenses. The trio of announcements follows Apple’s strategies to construct another U.S. corporate school and hire 20,000 workers as part of a$30 billion capital

costs program over the next 5 years. While estimates of the prospective economic effect of tax reform vary extensively, many experts predict the legislation might contribute to a modest lift in the annual

U.S. GDP. The CRE industry stands to be a clear winner, with the tax legislation and subsequent re-investment activity likely resulting in expansions and extra hiring. The new legislation added to strong financier belief and a favorable lending environment for business real estate in the last quarter of 2017, according to new research study from CBRE.”With the recent enactment of comprehensive tax reform and relatively beneficial treatment of CRE as an asset class, we anticipate continued strong investor interest in the sector,”stated Brian Stoffers

, CBRE international president for debt and structured financing, capital markets.”Substantially lower growing loan volumes in 2018, and good supply/demand stability, need to continue to result in favorable loan spreads for debtors.”While the tax overhaul plainly makes financial investment more attractive and is anticipated to increase the rate of return on CRE, participants in the Winter/Spring 2018 Allen Matkins/UCLA Anderson Projection California Commercial Real Estate Survey released today anticipate moderate development from the new tax law but will likely have an irregular impact throughout various markets. While the majority of California office designers in the study taken during December suggested that the brand-new tax regime brings the possibility of greater profits and greater optimism, the panelists stated they were taking a wait-and-see technique regarding whether the modifications would lead them to kick-off new development. CoStar analysts, on the other hand, said the tax expense could cause many firms to move-up the timing of their expansion choices, according to Paul Leonard, managing expert with CoStar Portfolio Strategy.”That could trigger a bit of a’sugar rush ‘in 2018,”Leonard stated.” You could for that reason see a short-lived increase in fundamentals

over the next 12 to 18 months in some markets.”President Donald Trump, the country’s very first developer-in-chief, touted the enormous financial investments by U.S. corporations in his State of the Union address to Congress last night

, asserting that approximately 3 million American employees have actually gotten “tax-cut”bonus offers,”many of them thousands and thousands of dollars per employee.””We slashed the business tax rate from 35%

all the method down to 21%so American companies can contend and win against anyone else, anywhere in the world,” Trump said.”Simply a bit back, ExxonMobil announced a$50 billion investment in the United States,”the president said as Rex Tillerson, previous ExxonMobil CEO now acting as U.S. Secretary of State, viewed from a front-row seat. As part of its statement today, the international oil and gas company said it would produce thousands of jobs and invest billions of dollars to increase oil production in the Permian Basin in West Texas and New Mexico, expand existing operations, improve facilities and build new production sites.”The recent changes to the United States business tax rate combined with smarter guideline produce an environment for future capital expense and will further improve ExxonMobil’s competitiveness around the globe,”Woods said on ExxonMobil’s blog.”We’re actively assessing the effect of the lower tax rate on the economics of several other jobs currently in the preparation phases to more expand our centers along the Gulf Coast.”Pfizer executives stated the company’s effective tax rate would be about 17 %next year, below 20%in 2017, with the company anticipating $15 billion in tax payments over 8 years to repatriate its abroad cash. Pfizer stated it prepares to contribute$500 million to its U.S. pension and has actually reserved $100 million for a one-time perk for all nonexecutive staff members in the first quarter of 2018.

How major US stock indexes fared on Friday

Friday, Oct. 27, 2017|2:12 p.m.

. A few of the greatest companies in the world had their best day in years Friday as Microsoft and Alphabet soared following strong third-quarter reports, as did online retail huge Amazon. U.S. stocks set more records as their winning streak extended to a seventh week.

On Friday:

The Requirement & & Poor’s 500 index jumped 20.67 points, or 0.8 percent, to 2,581.07.

The Dow Jones commercial average added 33.33 points, or 0.1 percent, to 23,434.19.

The Nasdaq composite climbed 144.49 points, or 2.2 percent, to 6,701.26.

The Russell 2000 index of smaller-company stocks rose 10.86 points, or 0.7 percent, to 1,508.32.

For the week:

The S&P 500 rose 5.86 points, or 0.2 percent.

The Dow gained 105.56 points, or 0.5 percent.

The Nasdaq advanced 72.21 points, or 1.1 percent.

The Russell 2000 fell 0.93 points, or 0.1 percent.

For the year:

The S&P 500 is up 342.24 points, or 15.3 percent.

The Dow is up 3,671.59 points, or 18.6 percent.

The Nasdaq is up 1,318.15 points, or 24.5 percent.

The Russell 2000 is up 151.19 points, or 11.1 percent.

A look at major extremist attacks in West Africa

Sunday, June 18, 2017|4 p.m.

DAKAR, Senegal– A take a look at significant attacks in West Africa by Islamic extremists over the last few years:

MARCH 2016: An assault along the beach in Ivory Coast’s resort town Grand Bassam left at least 19 dead. Al-Qaida in the Islamic Maghreb declared obligation for the attack, determining the three aggressors as members of al-Mourabitoun and Sahara units.

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JANUARY 2016: Extremists assaulted a coffee shop near a hotel popular with foreigners in Burkina Faso’s capital, Ouagadougou, killing at least 30 individuals. Al-Qaida in the Islamic Maghreb and al-Mourabitoun claimed obligation for the attack.

___ NOVEMBER 2015: Jihadists attacked the Radisson Blu hotel in Mali’s capital, Bamako, killing at least 20 people. Al-Qaida in the Islamic Maghreb and al-Mourabitoun declared duty for that attack, stating it was their first joint attack since al-Mourabitoun signed up with al-Qaida’s North Africa branch in 2015.

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MARCH 2015: An attack at La Terrasse dining establishment in Bamako, Mali killed five individuals including a French resident and a Belgian nationwide. Al Mourabitoun, or The Sentinels, a northern Mali jihadist group allied with al-Qaida, rapidly claimed obligation. It was the first of its kind in Bamako.

A look at major extremist attacks in West Africa

By The Associated Press

DAKAR, Senegal (AP)– A look at significant attacks in West Africa by Islamic extremists recently:

MARCH 2016: An attack along the beach in Ivory Coast’s resort town Grand Bassam left a minimum of 19 dead. Al-Qaida in the Islamic Maghreb declared responsibility for the attack, recognizing the 3 assailants as members of al-Mourabitoun and Sahara systems.

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JANUARY 2016: Extremists assaulted a cafe near a hotel popular with immigrants in Burkina Faso’s capital, Ouagadougou, eliminating at least 30 people. Al-Qaida in the Islamic Maghreb and al-Mourabitoun declared obligation for the attack.

___ NOVEMBER 2015: Jihadists attacked the Radisson Blu hotel in Mali’s capital, Bamako, killing at least 20 individuals. Al-Qaida in the Islamic Maghreb and al-Mourabitoun declared obligation for that attack, stating it was their first joint attack given that al-Mourabitoun joined al-Qaida’s North Africa branch in 2015.

___

MARCH 2015: An attack at La Terrasse dining establishment in Bamako, Mali killed five people consisting of a French person and a Belgian national. Al Mourabitoun, or The Guards, a northern Mali jihadist group allied with al-Qaida, rapidly declared obligation. It was the first of its kind in Bamako.