New Partnership Bridges Gap Between Available Commercial Spaces & Actively Searching Tenants
Commercial real estate data and listing platform CommercialEdge, is now partnering with TenantBase.
Apple Leases 2 Additional Floors in Midtown Office Building
Apple recently announced it had signed its biggest lease yet in New York City — a 336,000-square-foot office space in Midtown Manhattan.
Brookfield Acquires 343K SF Office Building in Bellevue, Wash., for $365M
Brookfield announced it had purchased a 343,000-square-foot Bellevue commercial property currently occupied by Facebook.
Centric Brands Signs 212K SF Lease in Empire State Building
Centric Brands signed a lease for 212,000 square feet of office space in the Empire State Building directly from the property’s owner, the Empire State Realty Trust.
California Food Tech Company Signs 112K SF Sublease
California food technology company Perfect Day recently announced it had subleased from Aduro Biotech 112,000 square feet of office and laboratory space at 740 Heinz Ave. in Berkeley, Calif. The sublease represents all of the space leased by Aduro in the Aquatic Park Center campus which totals 800,000 square feet of office space in 16…
Omninet Capital Nabs Two Metro LA Office Campuses for $78M
Omninet Capital recently purchased two metro Los Angeles office properties — one in Torrance and one in Commerce — for a total of $78 million. In the first deal, Omninet bought a three-building office park in Torrance called Park Del Amo. Located at 2355 and 2377 Crenshaw Blvd., the 204,468-square-foot campus fetched $39 million. At…
Round-Up: May 2020’s Notable Office Deals & Leases
Two months after the COVID-19 pandemic placed nearly all industries on hold, many financial markets are slowly restarting. In particular, several major office deals took place in May, proving that the situation in commercial real estate is starting to thaw. Here are the six most significant office deals and leases that took place this month….
Transwestern Closes Deal on Former American Airlines HQ
Transwestern Real Estate Services announced that it brokered the sale of a campus spanning 1.4 million square feet of office space Fort Worth, Texas. The campus had previously served for decades as American Airlines’ global headquarters until last year, when it was vacated and put on the market. The sale price was not disclosed. The…
Real Estate’s Recovery in New York City
The 21st century is only 20% complete and we’ve already seen multiple unprecedented events — 9/11, the global financial crisis of 2008 and now COVID-19. While history never repeats itself, it often rhymes. So, what — if anything — can the previous crises tell us about what the real estate market in New York City has ahead? Newmark Knight Frank’s recent report sheds some light on what we might expect in the upcoming weeks,…
Prominent Office Leases in New York City: March 2020
Several high-profile office leases were signed by industry-leading companies last month. We rounded up the five most notable in New York City in March – check them out below: 1. R3 & Check Point Software Technologies Move to 1155 Avenue of the Americas The iconic, granite-clad, 41-story tower located between West 44th and West 45th streets welcomed two new tenants in the month of March. Specifically, two leading tech companies will occupy significant portions of the Durst Organization’s 1155 Avenue of…
Cushman & Wakefield Brokers New Jersey Sublease Expansion
Cushman & Wakefield announced it brokered an expanded sublease with a multinational IT company for 56,530 feet of office space in New Jersey. The tenant is set to occupy the entire first floor of the two-story property at 12 Vreeland Road in Florham Park. The new sublease agreement adds 29,974 square feet of office space…
National Average Rent Decreased in December, Starts New Year at $1,474
Renters are less likely to look for new apartments during the colder months and before the holidays. As such, the cold season usually brings a slowdown in rent growth. Accordingly, the U.S. average rent declined in two consecutive months at the end of 2019, dipping to $1,474. Specifically, rates went down by 0.1% in both…
JLL Sells Bruckner Building in the Bronx for $65 Million
ZG Capital Partners acquired the commercial loft building in the Bronx for $65 million from a partnership between Savanna and Hornig Capital Partners. The 188,000-square-foot waterfront building is located at 2417 Third Avenue in Mott Haven. JLL represented the seller. The eight-story Bruckner Building was built in 1928. It underwent a comprehensive renovation in 2016,…
Top Tech Companies Taking Manhattan Office Space in 2019
Tech companies are seemingly everywhere gobbling up major chunks of office space, especially in NYC’s most densely populated borough, Manhattan. Some of the companies making the largest impact are Amazon, Google, Facebook, Adobe, and LinkedIn. Amazon In February, Amazon walked away from plans to build its second corporate headquarters in Long Island City, Queens. The…
Are NYC Pieds-a-Terre Facing Additional Taxation?
NYC-based boutique law firm Pardalis & Nohavicka brings the latest legal updates from the world of real estate to PropertyShark. Pardalis & Nohavicka handles an eclectic array of matters, representing individuals and business owners in civil litigation, criminal cases and business transactions, currently litigating and representing clients throughout the United States and around the world. New York City is always looking…
5 Best Coworking Spaces in TriBeCa
At a time when coworking spaces are at their peak, it can be challenging to pick the right shared office that is in line with your personal needs and professional aspirations. And, because the global growth of coworking is even more prevalent in larger cities, it can be quite overwhelming to search through the myriad…
10 Best Coworking Spaces in Queens
New York has been seized by the popularity of coworking hubs, with a new office opening its doors every 7 days. With such a massive supply of shared office spaces, it’s easy to become overwhelmed by the abundance of options. So far, Manhattan has attracted the most coworking offices—leading the pack of the five boroughs…
Check Out 10 of the Best Coworking Spaces in Brooklyn – 2019 Update
Whether you’re a freelancer, an artist, a lawyer, or an entrepreneur ready to start your own business, coworking hubs provide easy access to professional networks, easy-to-lease office spaces, or just a great community to share your morning coffee with. Luckily, Brooklyn, NY has plenty of such work spaces – it’s all a matter of preference. To…
Rent Stabilization Laws Expiring This June – What to Expect
NYC-based boutique law firm Pardalis & Nohavicka brings the latest legal updates from the world of real estate to PropertyShark. Pardalis & Nohavicka handles an eclectic array of matters, representing individuals and business owners in civil litigation, criminal cases and business transactions, currently litigating and representing clients throughout the United States and around the world. With summer approaching, thoughts of beach…
2019 Office Completions: 52% Increase Over Last Year
Key Takeaways: Over 115 million square-feet of office space across the top 40 markets is coming in 2019—a 52% increase over 2018. NYC will add almost 16 million square-feet, roughly doubling the amount added in 2018. The U.S. economy has been on a tear in the last 10 years. Unemployment is at its lowest levels…
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