Property Types Office
AmTrust Finalizes LaSalle Bank Building Buy
Aug 27, 2008

The LaSalle Bank Building in Chicago, first reported sold in June, has been finalized, according to various news sources and property records. AmTrust Realty Corp. is the buyer of the $188 million dollar building at 135 S. LaSalle St. The seller was Bank of America Corp.

 
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.