Sunday, January 06, 2008

Empty Building For Sale

When I last wrote a post back in November about this building it had just been completed and was actively trying to attract its first tenant. Two months later the building owner, Orix Real Estate Equities is offering 7021 Columbia Gateway Drive for sale even though no leases have been signed.

It is not exactly a fire sale. Orix is simply expanding their options for this asset. They are hoping that a company wishing to own a building as opposed to leasing one will be attracted by this offer. Orix believes that they can get a premium price for this 104,000 square foot, five story Class A office building because of its location in Columbia Gateway and the fact that it is ready to go. If a company wants to build their own building like this it typically takes about eighteen months. Orix is further encouraged by the recent sale of the Micros building next door. Last summer, 7031 Columbia Gateway Drive sold for around $250.00 per square foot setting a new record sales price for a Columbia office building.

Good luck.

7031 Columbia Gateway Drive has two blue chip tenants (Micros and Motorola) with long leases. 7021 Columbia Gateway Drive is empty with no leases. I happen to think it’s ugly too.


Jessie N said...

LOL ... from your final sentence. Love ya, WB. Say it like you see it.

Anonymous said...

1/8/2007: I woke at 5am to complete darkness. Which I didn't find unusual, but the lack of any sound was eerie. I went to the window, no light in my lamplight community.

I went to another, and another window. No light in any location as far as I could see into surrounding neighborhoods. Then I noticed no cars. Then I noticed no airplanes overhead. No neighbors were getting into cars at the usual 4:30am. No dogs barking – that was the worst!

I fumbled around for the flashlight – thank goodness my son had unearthed it the other day. Then I made my way to the basement for the wind-up radio. I know nothing about AM radio but decided to try and find an AM station – isn’t that where the news is on 24/7? Only static! Oh no. oops, winding it the wrong way. Whew. There we go, some sound - talk shows.

Ok, now that I’m breathing and my brain is beginning to get oxygen I remembered my cell phone and called the radio and TV station. They were puzzled – did I notify my power provider? Well, now that I’d heard a voice from another person I realized that was the reasonable thing to do.

BGE said power would be restored within the hour. And they were right, but the way I woke threw me off kilter.

Anyone know how widespread the power outage was? What caused it?

Anonymous said...

And now more than 2 years later it's still empty

wordbones said...

Anon 10:18 AM

Actually, two years and seven months, but hey, who's counting anyway?


Real Estate Point Cook said...

What is the exact area of this building?

handyman brisbane said...

Please tell me the internal and external area of that building.