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.
Alo Yoga Lands New Beverly Hills Headquarters in $90 Million Deal
Alo Yoga paid $90 million for the 82,886-square-foot La Peer Building, in Beverly Hills. The acquisition sets a new benchmark for the city, working out to approximately $1,085 per square foot to make it Beverly Hills’ highest price-per-square-foot office transaction this year — and by a significant margin.
Northern California Industrial Property Secures $67 Million Refinance
A recently constructed industrial space in San Joaquin County, Calif., known as Lathrop II, has been refinanced with a $66.7 million loan closed by Affinius Capital LLC.
The mortgage is in the name of a joint venture composed of Phelan Development and LaSalle. The property encompasses 847,000 square feet across two warehouses.
Amazon Buys Up Land for Data Center Development in Massive, $700 Million Deal
Amazon acquired a significant parcel of land in northern Virginia’s Prince William County. The company purchased the site, which is zoned for data center use, from Stanley Martin Homes for a reported $700 million.
Flight to Quality Continues: Zurich North America Set to Move to Willis Tower Office
Zurich North America is relocating its Chicago operations from its downtown location. The insurer signed a 52,000-square-foot lease at the iconic Willis Tower, a move that effectively halves its office space in Chicago.
FGS Global Inks New Lease at Vornado-Owned Penn 2
FGS Global committed to a 15-year lease for 80,000 square feet at Penn 2, Vornado Realty Trust’s newly redeveloped office tower situated directly above Penn Station. The firm will occupy the entire 16th floor and a portion of the 17th floor. Asking rent for this premium space was $115 per square foot. The building is now about 70% occupied.
Textile Manufacturer Northwest Group Signs Lease for Inland Empire Facility
Northwest Group — a prominent textile manufacturer based in Garden City, N.Y. — has secured a substantial, 61-month lease for an industrial space in Riverside County, Calif.
Law Firm Lewis Brisbois Secures Financial District Office
In a significant move for the Financial District, Union Investment’s 140 Broadway has landed another major tenant with law firm Lewis Brisbois Bisgaard & Smith signing a deal for 70,000 square feet of office space in Manhattan. This transaction was the second largest lease signed in Lower Manhattan during the third quarter.
Drawbridge Realty Buys & Secures Lease Deal for Orange County Office Campus
Drawbridge Realty recently closed a deal for approximately $78 million to acquire The HIVE from Invesco Real Estate. This latest addition is a 190,000-square-foot office campus in Orange County, Calif. Eastdil Secured brokered the sale.
Guggenheim Expands Footprint at Munich Re-Owned Office Tower
Guggenheim Partners has solidified its commitment to Midtown Manhattan’s central business district by renewing and significantly expanding its lease at 330 Madison Ave. The financial services firm is entering a new, 17-year renewal agreement that will see its total footprint increase from 240,000 square feet to a massive, 360,000 square feet of Manhattan office space.
SL Green Refinances Mortgage on Flatiron District Office Tower
SL Green, the largest owner of Manhattan office space, has completed a major refinancing deal for a 30-story tower in the Flatiron District alongside its joint venture partner, PGIM. The partnership has secured a $1.4 billion loan for 11 Madison Ave.
