Did you know?

 

Some of the most iconic office buildings in America are owned by REITs including the Empire State Building, Embarcadero Center and the Prudential Center.

 

REITs don’t just own skyscrapers, they also own suburban office towers and office parks across the country.

 

Because they can hold multiple tenants of differing sizes, REIT-owned office buildings and office parks help small businesses find space they can afford, helping jobs in America.

 

REITs are proactively redeveloping office space to meet the changing needs of today’s workforce.

REITs in the Community

Salesforce Tower

Rising from the formerly dilapidated area around a demolished entrance to the San Francisco Transbay Terminal is Boston Properties’ Salesforce Tower. As this rendering shows, the centerpiece of the San Francisco Transbay redevelopment plan is a 1.4 million-square-foot, 61-story tower being built adjacent to the Transbay Transit Center in the South of Market district. The tower will become a landmark addition to the San Francisco skyline and is slated to become the second-tallest building on the West Coast, with its crown soaring to a height of 1,070 feet. The tower will be the focal point of a massive 145-acre development complete with residential housing, hotels, retail space and a transit center serving as the northern terminal of the state’s high-speed rail project.

Cira Centre

Cira Centre, Brandywine Realty Trust’s 29-story flagship skyscraper, sits on the west bank of the Schuylkill River and connects Philadelphia’s two primary economic districts: Center City and University City. A signature transit-oriented development, Cira Centre is directly connected to Amtrak’s 30th Street Station – a primary hub for regional, multimodal transportation along America’s Northeast Corridor. At night, the building adds unique excitement to the city’s skyline with 1,500 decorative LED light fixtures programmed to showcase artistic and community-driven light-shows. The Cira Centre was built in a Keystone Opportunity Zone, a state-designated district established to combat urban decay (in this case, part of an underused railyard).

Population & Employment

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Job Growth Driving Demand

REITs report earnings as Funds from operations (FFO). FFO is calculated by adding depreciation and amortization expenses to earnings. Source: 3

REITs not only employ hundreds of thousands of people themselves, but millions of additional Americans work in one of the more than 511,000 properties owned by a REIT. And because REITs allow everyday Americans to invest in valuable real estate, the place where you earn your living might also be an investment in your portfolio.

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