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In November 2021 the building was sold to New York-based Apollo Global Management for $318 million. This sale set a record for the highest price per square foot at $889/sq ft ($9,570/m 2). The prior record was set in 2020 for $612 per square foot ($6,590/m 2) for the sale of the RailYard in South End. The sale price was $201 million. [7]
This transaction set the record for the highest price per square foot for an office building. The previous record was from 2007 when the Carillon building was purchased for $140 million, with a price of $298 per square foot. [24] In November 2019 Fifth Third expanded their space in the tower to 100,300 square feet (9,000 m 2).
Largest office buildings by total area Building City Country Floor area (m 2) Height (ft) Height (m) Floors Year Employees Surat Diamond Bourse: Surat, Gujarat India: 660,000 268 81.9 15 2023 65,000 [1] The Pentagon: Arlington, Virginia United States: 620,000 77 23.5 7 1943 26,000 [2] Chrysler World Headquarters and Technology Center: Auburn ...
In fact, the appetite for offices is so low that there may be as much as 1 billion square feet of unused U.S. office space by the end of the decade, according to a 2023 report by Cushman & Wakefield.
As of June 2022, Sand Hill Road was still home to the most expensive office space in the United States, with Newmark Group reporting monthly rent at $10.66 per square foot (equivalent to annual rent of $127.92 per square foot), which was reportedly higher than other top-tier markets like Manhattan's Park Avenue and Greenwich, Connecticut. [10]
In 2017, rent was reported to range from US$4.35 to $5.50 per square foot, compared to a county average of $2.75 per square foot for office space. The rent in 400 Spectrum was 9% more expensive than the rent in 200 Spectrum. [5]
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