Diana Sabau
Senior Content Writer, CRE News & Market Analysis
Drawing on years of intense research in the U.S. commercial real estate market at Yardi Matrix, Diana now applies her expertise as a writer for the CommercialCafe blog. Her articles focus on CRE investment, labor market trends, and technology, and have been picked up by prestigious publications including the New York Times, GlobeSt, The Real Deal, NAIOP, MSN, and Bisnow.
Harbor Associates Secures Refinancing of Formerly Distressed Westwood Office
Harbor Associates and F&F Capital Group secured a $36.3 million refinancing loan from Argentic Real Estate Finance. The five-year loan with a fixed interest rate of 7.5% will be used to pay off existing debt on the 158,000-square-foot property located 1640 Sepulveda Blvd.
RFR Fetches $560 Million for Upper East Side Property
Aby Rosen’s RFR Holding recently sold 980 Madison Ave. — a mixed-use building on the Upper East Side known for its art galleries — for more than half a billion dollars. The buyer is Michael Bloomberg’s Bloomberg Philanthropies, which intends to convert the property into a family office.
Hines’ Hudson Square Footprint Reaches 22,000 Square Feet Following Latest Expansion
Hines — a Houston-based real estate investor and developer — is expanding its Hudson Square presence by connecting its existing, 17,000-square-foot office space on the 12th floor of 345 Hudson St. to an additional 15,000 square feet in the adjacent building at 555 Greenwich St. This 12-year lease expansion is part of a joint venture with Trinity Church Wall Street and Norges Bank Investment Management. Hines developed and owns both properties.
Writers Guild of America East Renews Lease for Hudson Street Headquarters
The Writers Guild of America East (WGAE) decided to renew its 16,749-square-foot lease at the Jack Resnick & Sons-owned 250 Hudson Street for an additional 16 years. The 70-year-old labor union will maintain its presence on the seventh floor of building, which has been home to their headquarters since 2010.
HOK Inks New 25,000-Square-Foot Lease at One Pru Plaza
Architecture firm HOK has signed a 13-year lease at Wanxiang America Real Estate Group’s One Pru, formerly known as One Prudential Plaza. The company is set to occupy a 25,500-square-foot space on the 14th floor of the 41-story building.
HOK will vacate its current premises at 333 S. Wabash Ave. in Chicago early next year upon the expiration of its 27,000-square-foot lease.
Palantir Secures Lease for 140,345 Square Feet at 620 Avenue of the Americas
Data analytics and intelligence firm Palantir Technologies has agreed to a new lease deal at the RXR-owned 620 Avenue of the Americas. The company, which previously leased the space through WeWork, is set to retain its existing footprint of 140,345 square feet within the Chelsea building.
Kobalt Music Reduces Footprint at 2 Gansevoort in New, 10-Year Deal
Kobalt Music Group has opted to maintain a presence in the Meatpacking District by renewing its lease at 2 Gansevoort St.
This decision comes after Kobalt previously subleased all of its office space in the nine-story building. According to an anonymous source familiar with the deal, Kobalt signed a new, 10-year lease for a smaller footprint of 10,000 square feet. The asking rent for this space was $115 per square foot.
TNT Services Grows Industrial Footprint in Maryland
TNT Services Group has announced the relocation and expansion of its suburban Maryland facilities. The company signed an agreement for 11,501 square feet of flex/R&D building space at St. John Properties’ Milford Town Center in Bowie, Md. It’s expected to move its operations from its current 9,800-square-foot premises in Prince George’s County this summer.
Black Lion Acquires Miami Beach Building, Plans Ultra-Luxury Office Transformation
Black Lion — a prominent real estate development company led by Robert Rivani — has announced the acquisition of The Lincoln, a mixed-use property located at 1691 Michigan Ave. in Miami Beach. Black Lion purchased the building for $62.5 million. The sale is the largest of its kind on the Miami office market since 2016.
Convene Expands Midtown Lease for 360 Madison
Convene, a leading designer and operator of premium meeting, event, and flexible workspace solutions, is expanding its presence in Midtown Manhattan. The company has signed a lease for an additional 22,500 square feet of space at 360 Madison Avenue, where it already operates a successful venue.
