Property Types Office
Skanska USA Leases 32nd Floor of the Empire State Building
July 1, 2008

Skanska USA Buildings Inc., is relocating its New York office from Madison Avenue to the entire 32nd floor at the Empire State Building, according to Stephen Eynon of CB Richard Ellis Inc., director of leasing for the property. Skanska plans to seek LEED Platinum certification for its new space. Founded in 1887 and headquartered in Stockholm, Sweden, Skanska is one of the ten largest construction companies in the world, with 60,000 employees in Europe, the U.S. and Latin America.

 
Recent Office Headlines
Mack-Cali Taps CBRE as Leasing Agent for Manhattan’s 125 Broad St.
CB Richard Ellis has been selected by Mack-Cali Realty Corp. as the exclusive agent to lease a portion of its office holdings at 125 Broad St. in New York City.
Cushman Report: Even Manhattan Humbled in 2008 
After a steep decline in office rents and leasing activity at the end of 2008, many owners are attempting to lure tenants with aggressive deals, according to Cushman & Wakefield Inc.’s year-end report on the Manhattan office market.
The News: Deliveries, Shrinking Labor Market Will Swell Vacancy
Developers are slated to deliver a significant amount of office space in 2009, just as the economy paints a continuing painful employment picture. Those factors will combine to increase the nationwide office vacancy rate, according to Grubb & Ellis Co.’s Global Real Estate Forecast.
Markets Start 2009 With Upward Bump
Instead of a lackluster lull after the New Year's holiday, investors decided to buy equities on Friday, driving the Dow Jones index up 258 points, or nearly 3 percent. The S&P 500 and Nasdaq were up even more, in terms of percentage: 3.16 percent and 3.5 percent respectively. GM, which recently won a short financial reprieve, led the way by gaining more than 14 percent, though that represented only 45 cents a share.
Atlanta Office Market Survives 2008 with Positive Absorption
Despite the poor fourth quarter results and bleak economic news, Atlanta’s office market ended 2008 with positive absorption of 391,300 square feet--but that's down more than 2.4 million square feet from the 2.9 million absorbed in 2007, according to figures from Atlanta-based Richard Bowers & Co.