Shrinking Pipeline Makes Room for Over-Supplied Markets to Increase Absorption in Following Years
The significant reduction in office deliveries over the past few years leaves a void of best-in-class office offerings and creates an opportunity to fill this need with fully amenitized, class A+ space in prime locations.
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Joint Venture Takes Ownership of 1301 Avenue of the Americas
DRA Advisors is entering into a joint venture agreement with New York-based real estate investment trust Rithm Capital for the ownership of 1301 Avenue of the Americas. DRA is set to take a 49% stake in the property with Rithm maintaining its majority share at the 1.7-million-square-foot, Manhattan, NY, office tower.
Sony to Potentially Anchor Tishman-Proposed Hudson Yards Tower
Sony is in the midst of negotiations to anchor Tishman Speyer’s planned 99 Hudson Blvd. office tower. If successfully concluded, the deal will enable the electronics giant to move its operations from its current Manhattan headquarters at 11 Madison Ave.
JLL Buys Logistics Property in West Boston Submarket
Initially developed as a multi-tenant distribution facility, the property is now home to Ohio-based Cardinal Health as full-building tenant.
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