Development Magazine Winter 2014

Development - Ownership

exterior view of an office building

Repositioning Yesterday’s Buildings for Today’s Changing Workforce 

Major retrofits and the repurposing of older buildings have become leading trends as urbanism and millennials drive transformative change. As 2014 winds down, we find the real estate industry in the throes of transformative change thanks to economic recovery and a fast-evolving workforce that continues to redefine corporate space requirements.

rendering of the exterior view of a cold storage facility

Edge Markets Go Mainstream 

The residential population of San Francisco’s Mid-Market district has spiked by 38.8 percent since 2000. The typical Dumbo household earns $123,675 per year, which is among the highest incomes in Brooklyn. These noncore submarkets have witnessed phenomenal demographic change over the past few years.

interior view of an office suite

PacMutual Campus: From Aging LA Landmark to Lifestyle Offices 

When Rising Realty Partners purchased the historic PacMutual Campus, a 425,000-square-foot beaux arts campus of three interconnected office buildings in downtown Los Angeles it was a tired structure suffering from years of neglect. Once a jewel of downtown LA, the aging complex had faded into obscurity.

"The Dog Clause" 

PacMutual’s leases include a “Dog Policy” section, which specifies under what conditions tenants may bring their dogs into the building, as well as the tenants’ and landlord’s responsibilities.

the trading floor in an office building

Gavilon World Headquarters: Office Space and Trading Floor in Downtown Omaha 

Grain and commodity trading firm Gavilon faced a challenge in 2012. Having outgrown its existing space at ConAgra’s corporate campus, Gavilon could not find a suitable alternative. With a limited supply of new office space and increased demand in the market over the past four years, flexible office space large enough for Gavilon’s growing workforce was not available.

exterior view of an industrial building

Liberty Sky Harbor Center: Transformation in Phoenix 

Run-down. Obsolete. Outmoded. Those were the kinder words real estate brokers had for the 35-year-old warehouse at 2626 South Seventh Street in Phoenix. The hulking 240,000-square-foot building in the Sky Harbor Airport submarket was long considered a decaying lost cause.

group of people at a reception

The View From Development '14: Disruptors Abound 

The high altitude and thin air of Denver provided an appropriate atmosphere for exploring current trends and coming scenarios at NAIOP’s Development '14: The Meeting for Commercial Real Estate. More than 1,100 people gathered there on October 27-29, a record number for a NAIOP conference.

exterior view of the National Cancer Institute Campus

NAIOP Sustainable Development Award Honors The JBG Companies for National Cancer Institute Campus 

The JBG Companies of Chevy Chase, Maryland, was named the recipient of NAIOP’s annual Sustainable Development Award, which was presented during a special ceremony at Development ‘14: The Meeting for Commercial Real Estate.

office interior photos

The Interior Design/Build-out of the Future, 2020 Design Competition 

During the spring and summer of 2014, NAIOP conducted a design competition in which it sought concepts for the Interior Design/Build-out of the Future. NAIOP invited architects to conceptualize and design “the optimal interior build-out for Class A office space within a multitenant building in a growing market” in the year 2020.

New and Noteworthy 

An assortment of brief facts and figures about new and noteworthy development projects, transactions and trends.

From the Archives: Development Ownership Articles from the Previous Issue

rendering of three new buildings and one current building

Brandywine Realty Trust: “Make No Little Plans” 

Brandywine Realty Trust closed 2013 with the best results in its 20-year history. Using a multiyear portfolio repositioning strategy, it pivoted almost seamlessly from its suburban office roots of the 1990s to focus on urban centers. Today, its urban and town center properties (those located in mixed-use areas and/or with access to transit) represent 48 percent of its portfolio and over 67 percent of its net operating income.

office building at night

DaVita World Headquarters: New Corporate Office Tower Promotes Healthy Living 

Situated at the base of Denver’s Millennium Bridge, across from Denver Union Station, sits DaVita’s new corporate headquarters. The iconic building, standing 14 stories in the Central Platte Valley District, has reshaped the downtown skyline and set a new precedent for world-class office accommodations.