• Planned Commercial Office Project Activity - May 2017 Recap

    Posted On Friday, June 2, 2017 by Robert Smith

    SalesLeads' experienced research team identified 485 new, planned commercial office relocation, expansion, new construction, and renovation projects during the month of May 2017. Below are a few of highlights on major projects throughout the United States.

    Most New Office Projects:

    Texas led the way with 61 new planned commercial office construction and relocation projects; with 23 new projects in the DFW area, 19 projects in the Houston area, and 17 in the Austin and San Antonio areas.

    California followed just behind with 53 new projects; with 25 new projects in the Los Angeles area and 25 in the San Francisco/Sacramento metro area.

    New York was a third with 46 new commercial projects in the planning stages. 

     

     Most Active Sectors:

    Real Estate and Construction related companies led the way with 60 new projects throughout the US. Professional Services was not far behind with 48 new commercial projects; followed by Financial Services with 44 new projects in the works. 

     

    Most Active Company:

    Co-working office space provider, WeWork, was the most active company, with 5 new projects in the planning stages; including 2 projects totaling 91,000 sf in Nashville, TN, an 80,000 build-out in Oakland, CA, and an expansion in the early planning stages in Boston, MA. 

     

    Largest Planned Project:

    During the month of May, our research team identified 13 new office construction projects with an estimated investment value of $100 million or more. The largest planned project is owned by Berggruen Institute, who is planning to invest $500 million for the construction of a research and office facility in SANTA MONICA, CA.They are also establishing a 2nd location at 2500 West Seventh Ave. in LOS ANGELES, CA. Both projects are in the early planning stage.

     

    Highlighted Office Projects:

    ATLANTA, GA: 

    Public accounting and consulting firm has recently agreed to pre-lease office space at 3300 Riverwood Pkwy. SE in ATLANTA, GA. They plan to relocate their office operations upon completion in late Sept. 2017.

    CLARENCE, NY:

    Mortgage lender is planning to invest $3 million for the renovation of a recently acquired office facility at 4401 Transit Road in CLARENCE, NY. They plan to relocate their operations from 2150 Wehrle Drive in AMHERST, NY upon completion in late 2017.

    HUDSON, OH: 

    Medical equipment mfr. has recently started construction on a 68,000 sf office facility at Hudson Crossing Business Park in HUDSON, OH. They plan to relocate operations upon completion..

    CLEVELAND, OH: 

    Start-up business incubator is planning for the construction of an office facility at the northwest corner of East 81st Street and Kinsman Road in CLEVELAND, OH. Construction is expected to start in Summer 2017, with completion slated for early 2018.

    DALLAS, TX: 

    Advertising agency is planning for the renovation of an office facility at 7263 Envoy Ct. in DALLAS, TX. Construction is expected to start in June 2017. They plan to relocate upon completion in Dec. 2017.

    JACKSONVILLE, FL:

    Landscape designer is planning for the construction of an 8,000 sf warehouse and office facility at 9362 Philips Hwy. in JACKSONVILLE, FL. Construction has recently started, with completion slated for late 2017.

    LOUISVILLE, KY:

    Automobile dealership is planning to invest $40 million for the construction of a 2-story, 110,000 sf office and showroom facility on Old Henry Rd at the East End of LOUISVILLE, KY. They are currently seeking approval for the project.They are planning to relocate from their existing location upon completion.

    SEATTLE, WA:

    Non-profit organization is planning for the expansion of their office facility in SEATTLE, WA by 8,000 sf. They are currently seeking approval for the project.

     

    About SalesLeads:

    Since 1959, SalesLeads, based out of Jacksonville, FL,  has been providing commercial and office construction and relocation data on companies that are planning significant transitions and capital investments in their facilities throughout North America. Our professional research team focuses on identifying new construction, expansion, relocation, major renovation, and major capital improvement project opportunities so our clients can focus on selling to companies with an impending need for their products or services; not searching for prospects. 

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