Commercial Real Estate: Office sector 2001-2009

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As part of Coldwell Banker Commercial's Review of Commercial Real Estate in the first decade of the 2000s, this part examines the Office Sector with key transactions, vacancy rates and happenings during each year.

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Commercial Real Estate: Office sector 2001-2009

  1. 1. Office 2001—2009 5,000 12% 200,000,000 Office Transactions & Avg Cap Rate Office Absorption 4,000 10% 150,000,000 8% 3,000 100,000,000 6% 2,000 50,000,000 4% 1,000 2% 0 0 0% -50,000,000 01' 02' 03' 04' 05' 06' 07' 08' 09' Trans 01' 02' 03' 04' 05' 06' 07' 08' 09' CAP -100,000,000 Source: Real Capital Analytics Source: CoStar $250,000 $500 $35.00 16% Office Volume & Price/SF Office Rental & Vacancy Rates $30.00 $200,000 $400 $25.00 12% $150,000 $300 $20.00 8% $100,000 $200 $15.00 $10.00 4% $50,000 $100 $5.00 $0 $0 $0.00 0% Millions 01' 02' 03' 04' 05' 06' 07' 08' 09' P/SF 01' 02' 03' 04' 05' 06' 07' 08' 09' Vacancy Rental Source: Real Capital Analytics Source: CoStar Significant Transactions: CBD Name City, ST SF Price $/SF Buyer Year Boston Properties JV Goldman General Motors Bldg New York, NY 1,925,000 $2,853,000,000 $1,482 2008 Sachs JV Meraas Capital 666 Fifth New York, NY 1,550,000 $1,800,000,000 $1,161 Kushner Companies 2007 WorldWide Plaza New York, NY 1,600,000 $1,739,000,000 $1,087 Macklowe Properties 2007 MetLife Bldg New York, NY 2,840,000 $1,720,000,000 $606 Tishman Speyer Properties 2005 Travelers Complex New York, NY 2,600,000 $1,575,000,000 $606 SL Green Realty Corp 2007 Significant Transactions: Suburban Twin Towers Complex Arlington, VA 1,100,000 $670,000,000 $609 Monday Properties 2007 Twin Towers Complex Arlington, VA 1,100,000 $495,000,000 $450 Beacon Capital Partners 2005 Waterview Office Twr Arlington, VA 633,908 $435,000,000 $686 Paramount Group 2007 One & Two Fountain Sq Reston, VA 616,178 $420,000,000 $681 Beacon Capital Partners 2007 Polk & Taylor Bldgs Arlington, VA 886,447 $419,000,000 $473 Beacon Capital Partners 2007 Source: Real Capital Analytics View next page for a breakdown of the Office Sector by year View other sections: www.crereview.com
  2. 2. Office Breakdown 11 View other sections: www.crereview.com

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