Facebook leases 1.5 million square feet at New York's Hudson Yards

Facebook | November 15, 2019

Facebook leases 1.5 million square feet at New York's Hudson Yards
The social media giant has leased more than 1.5 million square feet of office space in the massive West Side development, Hudson Yards officials announced Thursday. The deal which marks a major expansion of Facebook’s presence in the Big Apple encompasses 30 floors across three buildings, including the forthcoming office tower at 50 Hudson Yards and the existing complexes at 30 and 55 Hudson Yards.

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REAL ESTATE INVESTMENT

NAS Investment Solutions Acquires New Class-A, Indiana Office Property

NAS Investment Solutions | December 22, 2021

NAS Investment Solutions (NASIS), a national sponsor of high-quality real estate investment properties with a nationwide reputation for acquiring elite commercial real estate with investment grade tenants, has acquired a prime Class-A, office property in South Bend, IN. Newly constructed in 2021, the 82,064 square-foot office building serves as the national headquarters for Press Ganey, the area's fifth largest employer and a leading provider of performance measurement and improvement services to U.S. healthcare providers. The company currently has 1600+ employees in 23 locations across the U.S. and over 41,000 customers, including over 80% of the largest U.S. hospitals and medical service providers. Press Ganey has a 98% customer-retention rating. Assuming responsibilities for asset management and property management for the newly acquired investment is National Asset Services (NAS), one of the Nation's leading commercial real estate companies. Since 2008, NAS has served over 2,500 investment clients and has established an impressive track record for investment property management. The track record includes generating over $585 million in cash distributions to property investors and managing a commercial real estate portfolio of 169 diverse commercial properties, comprised of 24.422 million square-feet, in 30 states. The overall value of NAS' managed portfolio in the company's 12-year history, totals over $3.325 billion. We are extremely proud to have delivered an elite, trophy-class property to our investment clients while expeditiously closing the transaction for our 1031 Exchange investors, This property acquisition is the direct result of our tenacious acquisitions team, our exhaustive underwriting process and our transactions management expertise." Karen E. Kennedy, President and Founder of NAS Investment Solutions and National Asset Services. NASIS was represented by Paul D. Rubenstein, Attorney in Los Angeles, CA for the acquisition of the property. Located less than two miles southwest of downtown South Bend, the Press Ganey property's structure and design were recognized by the Indiana Kentucky Associated Builders and Contractors with the 2021 Award of Excellence in Construction. The 6.8-acre site consists of approximately 408 surface parking spaces and features a unique 4,800 square-foot rooftop employee patio lounge. About NAS Investment Solutions (NASIS) NAS Investment Solutions was established to leverage National Asset Services' vast experience in investment property management by identifying, acquiring, and enhancing commercial real estate investments across all sectors of the real estate industry. About National Asset Services (NAS) Headquartered in Los Angeles, California, NAS manages a wide range of diverse commercial real estate: Office, medical office, multifamily, retail, student housing, assisted living and industrial flex properties. The company manages sole-owned and multi-owner properties. NAS offers a wide range of asset management capabilities. They include property management; project management; lease administration; acquisition and disposition services; real estate strategy analysis; long-range business objectives; monitoring changing market conditions; investor relations; real estate and investor accounting; loan modification and workout solutions; exit and hold strategies; leasing & marketing; tenant retention plans; research studies; site selections; feasibility studies; insurance risk management; capital improvement planning and tracking; property tax appeal services and cost segregation services.

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REAL ESTATE INVESTMENT

Bandwidth Powers 'PropTech' Innovators in Red-Hot Housing Market

Bandwidth Inc. | September 14, 2021

Bandwidth Inc., a leading global enterprise communications platform and cloud-native carrier, announced it is powering some of the most innovative digital disruptors in the red-hot U.S. housing market. As the nationwide surge in the real estate market continues, buyers and sellers are increasingly adopting new digital tools to more quickly and conveniently get to the closing table. Bandwidth is the messaging and communications platform of choice for several innovative property technology, or PropTech, companies that are eliminating friction and improving the customer experience in the key steps of a real estate transaction, such as choosing a real estate agent, finding or renting a property, and showing or viewing a home. "Buying or selling a home is the largest transaction most people make in their lifetime. That's why messaging and voice communications are mission-critical throughout the key steps of the process," said John Bell, Bandwidth's Chief Product Officer. "The Bandwidth platform enables PropTech SaaS companies to scale communications using our APIs without needing extensive knowledge of telecom industry regulations and requirements. By partnering with Bandwidth, SaaS companies can focus on what's most important—the customer experience." Here are three examples of how Bandwidth customers are improving the real-estate experience: Clever Real Estate is a platform that guides home buyers and sellers through the process of interviewing and choosing a real estate agent. Finding an agent through Clever is a free service that delivers reduced listing fees for sellers and cash back for buyers. Bandwidth provides voice and messaging services to enable Clever's services for consumers across a network of top real estate agents in the U.S. Rently provides self-touring and smart access technology for single-family and multi-family homes nationwide. Each year, more than 20 million renters move to find their new rental property--and Rently's self-touring technology automates the renter check-in process so renters can instantly tour a vacant property, safely and securely, without an agent present. Bandwidth provides voice and messaging services to help Rently power more than 3,500 operators in the U.S. and 15 million renter self-tours to-date. ShowingTime, recently acquired by Zillow, coordinates schedules behind the scenes so agents can seamlessly book a confirmed home showing online, streamlining a complicated process. In 2020, the company facilitated more than 50 million showings industry-wide. Bandwidth provides voice and messaging services to ShowingTime to enable sellers' and buyers' agents to schedule and confirm home tours online and also get 24/7/365 live help from appointment specialists. About Bandwidth Inc. Bandwidth is a global communications software company that helps enterprises connect people around the world with cloud-ready voice, messaging and emergency services. Companies like Cisco, Google, Microsoft, RingCentral, Uber and Zoom use Bandwidth's APIs to easily embed communications into software and applications. Bandwidth has more than 20 years in the technology space and is the first and only Communications Platform-as-a-Service (CPaaS) provider offering a robust selection of APIs built around our own global network. Our award-winning support teams help businesses around the world solve complex communications challenges every day.

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Brennan Completes Acquisition Of Surplus Corporate Real Estate Asssets

prnewswire | October 20, 2020

Brennan Investment Group, a private real estate investment firm that acquires, develops, and operates industrial facilities throughout the United States, announced its acquisition of six surplus industrial buildings totaling 308,908 square feet in Plant City, Florida, in the Tampa MSA. The seller, Paradise Inc., is a producer and distributor of Candied Fruit brands throughout the country. The properties are a mile off the I-4 Corridor, running between Tampa and Orlando. The Tampa market has demonstrated strong fundamentals, with positive net absorption of over 1 million square feet year-to-date and a vacancy rate of 94.6%.

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Spotlight

Do you dream of owning your own home? Or are you happy to rent a place where a landlord takes care of all your home issues? There are pros and cons of both renting and owning your home. Here are some issues to consider if you are on the fence.