What’s the best office asset in the country
I was shooting the shit with some of my friends in the industry and we started talking about different office buildings around town. It kinda led me to wondering what’s the nicest office asset in the country. Of course this is super subjective but my picks would be One Vanderbilt or Old Parkland in Dallas. I also love the Crescent and Hearst tower but not sure if they would qualify. Also the corporate campuses for faang in California are insane and probably can’t be compared with multi tenant offices. Curious to hear what people think about this.
Based on previous WSO threads, One Vanderbilt is highlighted as probably the best office asset in the entire US. This is supported by discussions around its quality and prominence in the market. Here are some key points:
For more detailed discussions and opinions, you might want to check out the relevant threads on Wall Street Oasis.
Sources: I'm long office properties, Will office be the buy of the century this correction or is it dead?, How to choose what asset type to work with in investment sales?, Best Asset Class for Entrepreneurial Developers, Best Asset Class to Start Out in, in Real Estate
My vote is Salesforce Tower in SF. Most prominent building in the skyline, great views, Ohana Room, got an artificial park above a transit hub. Built within the last 10 years. CBRE has a nice office there.
Got to tour that one when it was under construction as a student. Incredibly cool.
Once completed, 270 Park
Big l
???
No one who actually lives in Nashville wants to work or live near Broadway lmao
Apple Park, One Vanderbilt, Old Parkland.
Call me sentimental, but no love for 1WTC?
Part of the problem is the location. Because you're downtown, the rents top out around $90/SF, whereas you can get 200+ at a trophy building in the grand central/plaza district area. I don't think anything downtown can really be in the conversation of the "best" building in the city. Definitely one of the most iconic though
Fair enough. But if "best" means highest rent, then we can forget about a non-NYC building, right? I assumed "best" was some combination of rents, amenities, and how iconic the building is. Plus, I'd argue it's now more of an unofficial symbol of NYC than basically any other building save the Empire State Building, since it kind of (deliberately) embodies the resilience of the city after 9/11
The main thing that holds back 1WTC imo is the location and lack of big name tenants. The original WTC towers were full of big names in various industries and there was prestige associated with being in the WTC towers. 1WTC hasn’t been able to capture the same dynamic. Part of that is businesses shifting to midtown which brings me to location. I love downtown and would much rather live and work there than midtown but ultimately midtown is where business is done these days.
I think for an office to be defined as the best or one of the best it needs to fit location wise, impact, history and just overall quality. 1WTC definitely hits on impact and history but idk if it’s top tier quality or location.
The Rockefeller center
Stop trying to fish for interview answers for favorite building.
The real answer to this interview question is Grand Central Station, TOD, historic architectural mark, mixed-use, public private partnership. If I hear anyone saying this in an interview I'm gonna know ya'll troll WSO too.
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