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.
Truist Joins Vista Equity & Meta at 50 Hudson Yards
Truist Financial will join a select list of tenants — comprised of the likes of Meta, Vista Equity Partners and ServiceNow — at the soon-to-be-completed 50 Hudson Yards in Midtown Manhattan. Even before construction began on 50 Hudson Yards, the building was already attracting the attention of major players. Social media giant Meta signed in 2019 and also has space at other Hudson Yards properties, while BlackRock had agreed to move its headquarters to the skyscraper as early as 2016.
Bright MLS Inks Deal for 13KSF in Bethesda
The Bethesda office space is part of a 24-acre, mixed-use development that also includes 765 apartments, 99 condos, and a 177-room hotel, as well as 80,000 square feet of additional office space and more than 40 retailers. Notably, the campus also provides access to event spaces, such as the private dining options at Owen’s Ordinary and Summer House, as well as the ballrooms at Canopy by Hilton and Pinstripes.
Home Depot Leases 500,000 Square Feet at Duke Realty Warehouse in LA County
Home Depot inked a lease deal that will allow it to fully occupy Duke Realty’s newly built smart industrial building in Los Angeles County. The 529,866-square-foot Irwindale, Calif., industrial space is equipped with a building automation system (BAS), smart metering system, solar panels and high-efficiency air conditioning units.
Kaufman Borgeest & Ryan Signs New Lease Deal for Midtown Office
Law firm Kaufman Borgeest & Ryan recently closed a 15-year lease deal at Global Holding’s 875 Third Ave. The company will occupy 27,000 square feet of prime Manhattan office space located between East 52nd and East 53rd streets, marking a significant downsizing from its current 48,000-square-foot lease at Silverstein Properties’ 120 Broadway. The move reflects a wider trend of companies adjusting their office space needs to accommodate employees’ preferences for flexible work schedules.
Best Places for Millennials to Live in 2022 – Top 10 U.S. Metro Areas
In revisiting our previous ranking of the most attractive metro areas for Millennials, we followed each entry’s performance across these seven indicators: Millennial population growth between 2016-2020; proportion of millennials in the overall population in 2020; regional price parity; median earnings; unemployment rate; percentage of millennials with employer-based health insurance; percentage of millennials in the labor force, with a bachelor’s degree.
2022 Office Survey: How Increased Renter Interest is Reshaping the Post-Pandemic Workspace
Asked about the motivation behind their current office search, respondents’ options were relatively evenly spread between the available answers, although the need for a smaller workspace that could accommodate hotdesking or a hybrid system ended up with a slight edge. Nearly a quarter said their search had been prompted by a need to downsize their office footprint. Various real estate professionals we’ve asked for insights into the office market also highlighted renters’ shift towards smaller workspaces throughout the last couple of years.
U.S. Energy Production and Consumption in 2021: On Its Way to Recovery, Commercial Usage Grows 3% Y-o-Y
2021 was marked by several attempts at resuming life and work, albeit within a changing and challenging new environment. Industrial power consumption picked up, and residential usage increased further still, but it’s important to note that remote working hasn’t made offices obsolete – as news of big companies either investing in prime real estate, renewing, or expanding their leases has continued to pour in. However, it has shifted expectations regarding the future of workspaces – not in the least in terms of optimizing energy usage.
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.
