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Boston Globe
22-07-2025
- Business
- Boston Globe
Sneaker designer Asics makes tracks for the Leather District
'We really do believe in this voluntary approach,' Turner said. 'We think it's important for people to balance work and home life. We've found a lot of success with this hybrid approach.' Advertisement The US group is led by Koichiro Kodama, who splits his time between the Boston and California offices. Despite the shrinking office footprint here, Turner said, Asics still hopes to add more people in Boston. Synergy vice president Tim Ferguson said the building's high ceilings, a vestige of its manufacturing past, were a selling point, as was Synergy's ability to have the space ready for Asics within just a few months after their first contact. Synergy acquired it from EQ Office, a Blackstone-owned landlord, last year. Advertisement The Japanese sneaker company's road to Boston starts with its acquisition of Runkeeper, a fitness app developed here that Asics acquired in 2016. Two years later, Asics opened its Summer Street office, to build more of a presence in a city known for its footwear brands. Other shoe companies with major offices within the city limits include Nike-owned Converse and Wolverine-owned Saucony (both near North Station), Reebok (in the Seaport), and New Balance (in Brighton). Puma has its main US office just over the line in Somerville, the Americas headquarters for Clarks is in Needham, and homegrown running shoe company Topo is in Framingham. 'That's part of the reason why we chose Boston,' Turner said. 'There are not many areas that are similar to Boston in that way, that have so many ... footwear brands in that small of an area.' This is an installment of our weekly Bold Types column about the movers and shakers on Boston's business scene. Jon Chesto can be reached at
Los Angeles Times
10-02-2025
- Business
- Los Angeles Times
Gemdale USA Sells Calabasas Office Building for $69.4M
Gemdale USA sold the office building at 4500 Park Granada in Calabasas to a joint venture between Cross Ocean Partners and Palisade Group for $69.4 million, or $312 per square foot. Palisade was founded by three former EQ Office executives (EQ Office was investment giant Blackstone's U.S. office platform). The 222,667-square-foot property was fully leased at the time of sale to seven tenants. Gemdale USA was represented by Newmark in the sale. 'This Class A multi-tenant office property offered our all-cash buyer a strong tenant mix with nearly seven years of average remaining lease term,' said Kevin Shannon, Newmark co-head of U.S. capital markets, in a statement. Gemdale USA, a subsidiary of China-based Gemdale Corp., acquired the property in 2021 from Rising Realty Partners for $79 million. It was originally developed as a corporate headquarters facility for Lockheed Martin and later served as the headquarters for Countrywide. Rising Realty acquired it in 2013 and converted it into a multi-tenant property with expansive courtyards and landscaped gardens. '4500 Park Granada is a rare opportunity to acquire a Class A office campus in a market with significant barriers to entry at a deeply discounted basis,' said Terence Kim, managing director for Cross Ocean, in a statement.
