Office News

Two American Center is Nashville's first 3-cam website Archon Group L.P. of Irving, Texas, is taking a new approach to marketing the development of Two American Center in Nashville. It is taking to the Internet through an innovative website.

The website features real-time photos fed directly from three cameras strategically mounted around the construction site. Updated every few minutes, the photos allow viewing of the building's construction site from anywhere in the world. The completed structure will be 11 stories and 214,329 sq. ft.

Archon teamed up with CyberZign Web Site Design and Telalink Corp. to create the website specifically for Two American Center, which is The site also contains leasing material, project information and more.

The Gateway Building of Philadelphia gets a new lease The Pennsylvania office of Cushman & Wakefield will serve as exclusive leasing agents for the 470,000 sq. ft. Gateway Building, which appeared on the market for the first time since its construction in the early 1970s.

The 20-story structure sits at 3535 Market Street in The University City Science Center area of Philadelphia and offers 270,000 sq. ft. of available office space. The Gateway Building's owner, Gateway Holdings Inc., will build a new lobby and renovate the floors, exterior and more for office users.

Germany among ownership interests in First Union Plaza Atlanta's 28-story, Class-A First Union Plaza attracted Germany's BBV Real Estate Funds, a subsidiary of a Munich-based insurance company, which purchased an ownership interest in the building. The sellers were a group of investors, including the original developer, Childress Klein Properties Inc., Atlanta.

Investment advisers for the deal were Atlanta-based Baita International LLC for BBV and New York-based Cushman & Wakefield for Childress Klein.

The 604,000 sq. ft. First Union Plaza is prized for its prime Midtown address and The Peachtree Club, an exclusive private dining club which occupies the entire 28th floor.

A remarkable public/private success story at 120 Wall Street Three not-for-profit organizations have signed leases comprising nearly 60,000 sq. ft. in The Association Center on New York's Wall Street.

The three long-term leases, signed by Silverstein Properties, represent more than $18 million in combined value and bring The Association Center to 100% occupancy.

The American Foundation for Aids Research, the Jewish Child Care Association of Greater New York and Girls Inc. are the new tenants who will relocate into the center in the first quarter of 1998.

Tax incentives provided by the city's Industrial Development Agency make the non profit tenants exempt from city real estate taxes, which are usually passed through by landlords as part of the rent.

A joint venture between Silverstein Properties and the Economic Development Corp. designated two-thirds of the building for this incentive program.

Brandywine acquires five-state, 23-property portfolio Spanning five states and nearly 2 million sq. ft., a portfolio was acquired by Newton Square, Pa.-based Brandywine Realty Trust for $229 million. The portfolio's seller was GMH Associates Inc., a Wayne, Pa.-based private real estate company, and its partners.

The acquisition significantly improves Brandywine's market penetration and operating economies of scale in the Philadelphia office and industrial market.

The purchase includes seven office properties in Pennsylvania, two office complexes in Delaware, two in Maryland, and one property each in New Jersey and Ohio.

American Express accounting services division will relocate to a new, 107,000 sq. ft. Phoenix building in May. Separate lease transactions at the building, wh ich is owned by Koll Real Estate, include signings by Daniel, Mann, Johnson & Mendenhall and Cohen Construction. Lee & Associates was named exclusive project leasing agent.

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