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.
IBM to Occupy 328,000 Square Feet at Flatiron District Office
IBM has been looking for a suitable location to consolidate several of its existing Manhattan offices, including 590 Madison Ave. and 51 Astor Place. The company’s footprint at One Madison will be smaller than the combined square footage of its older office spaces, but it will benefit from a host of amenities that will be added during the development, which is being led by Kohn Pedersen Fox Associates and is expected to be completed in November 2023.
Top 50 Office Deals of 2021: Life Science & Medical Offices Take Center Stage
One of the surprising findings in this analysis is that no New York City office property sales in 2021 ranked among the top three transactions.
Signature Bank Doubles Footprint at 1400 Broadway
Following the closing of this new, 15-year lease, the New York-based bank will pay an asking rent of roughly $67 per square foot for a total of 280,182 square feet of Manhattan office space spread across 10 floors. The tenant roster at 1400 Broadway also includes the likes of IPG and Burlington Coat Factory, as well as French skincare company Clarins, which recently leased 15,000 square feet in the 37-story building.
Longpoint Fetches Miami-Dade Warehouse for $59 Million
“Aventura Industrial Center is strategically located along the Golden Glades interchange, one of the largest interchanges in South Florida where four of the tri-county’s most important roads and highways converge,” said Lobón, an executive vice president at CBRE. “This central location provides equidistant connectivity to each county’s principal growth driver: Miami International Airport, Fort Lauderdale International Airport, Port of Miami and Port Everglades.”
Game On! Top U.S. Cities for Gamers
Even before the pandemic, gaming could be pursued either as a job or as a hobby from pretty much anywhere. A stable internet connection and a computing device are enough to get you started. But what if you’re also eager in sharing your passion with other like-minded individuals at conventions, or still enjoy browsing at your local video game or hardware store? Or if you want to get into competitive gaming in college?
42floors.com Relaunched Following Yardi Acquisition & Update
Yardi Systems — the leading provider of software solutions for the real estate industry — announced its acquisition and redesign of popular CRE marketing platform 42Floors.com. The website was previously owned by Roni Mova, principal of United Group, who was represented by Dan Fasulo.
Top 15 Mid-Sized Metros for Tech Workers Looking to Relocate
Using data gathered by the U.S. Census Bureau and the Bureau of Labor Statistics (BLS), the following study focused on U.S. metropolitan areas with populations of less than 1 million residents and scored them across six indicators, including:
Life quality (such as regional price parity, educational attainment and unemployment rate) – 25 points
Tech job density – 30 points
Average tech salary – 15 points
Tech business density – 15 points
Percentage of the total population covered by employer-based health insurance – 5 points
Number of leisure establishments per 100,000 residents – 10 points
Columbia Property Trust Inks 2nd Lease Deal at 799 Broadway
Columbia Property Trust signed its second tenant at its ongoing development at 799 Broadway, just one a month after securing its first lease for the building. Bain Venture Capital will occupy the entire 10th floor – roughly 8,756 square feet – of the 10-story Manhattan office space on a 10-year contract. Asking rent was between $150 and $200 per square foot.
Microsoft To Lease 150,000 Square Feet in Union Square Office Tower
Microsoft signed a lease for 150,000 square feet of office space in the 10-story Flatiron District tower at 122 Fifth Ave. in Union Square. The tech giant will occupy roughly half of the property — floors six through 10, which were previously leased to Barnes & Noble. Asking rents remain undisclosed for the time being, and Microsoft has yet to establish a clear move-in date.
iCapital Extends One Grand Central Lease, Doubling Its Footprint
Fintech platform iCapital increased its footprint at One Grand Central Place in midtown Manhattan, virtually doubling its initial presence in the building to a total of 64,500 square feet.
