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.
Lanterman Regional Center Inks 10-Year Lease for Glendale, Calif., Office
Frank D. Lanterman Regional Center secured a 10-year lease for 50,836 square feet at the Onni Group’s 611 N. Brand in Glendale, Calif. The $18.8 million lease encompasses two full floors within the 396,000-square-foot office tower and is one of the largest Glendale, Calif., office deals this year.
iDC Logistics Signs Double Lease Deal for Inland Empire Warehouses
iDC Logistics is expanding its footprint in southern California with two new leases for a combined 1.1 million square feet.
The first of these is Alere Property Group’s 844,311-square-foot, temperature-controlled industrial space in San Bernardino, Calif., while the second one is a 260,000-square-foot property owned by a Principal Financial Group affiliate.in the City of Industry.
Amazon Expands Presence at Miami’s Wynwood Development
Amazon is expanding its office presence at Wynwood Plaza in Miami, securing an additional 25,000 square feet. This expansion boosts the tech giant’s total office footprint within the nearly completed, 12-story, mixed-use complex to 75,000 square feet. When fully finished, the development will feature 266,000 square feet of office space, 509 apartments and 25,000 square feet of retail space
Saudi Fund Partners With Related for Proposed Manhattan Office Tower
Saudi Arabia’s government fund is partnering with Related Companies to acquire a two-thirds stake in a site at 625 Madison Ave. in Manhattan, where a new skyscraper is planned. The total cost for the site and its development is projected to exceed $1 billion, according to sources familiar with the deal. The fund has already invested $200 million into the project, although its final contribution is still being determined.
WeWork Secures First Post-Bankruptcy Coworking Lease in Manhattan, N.Y.
A leading global provider of flexible space, WeWork announced that it had executed a 60,000-square-foot lease agreement with AmTrust RE at 250 Broadway. This marks the company’s first coworking deal since its bankruptcy filing. The new location is projected to open in December and will cover five floors (the 24th, 25th, 27th, 28th and 29th).
The Greenest Offices in the U.S.: D.C. & California Markets Continue to Lead in Sustainability
Sustainability has become a critical factor in today’s commercial real estate, moving beyond a simple add-on. That’s because the understanding that greener buildings translate to substantial reductions in operating costs through energy and water efficiency has become paramount.
Discover the best primary and secondary office markets for green workspaces across the U.S., based on LEED score, energy efficiency and CO2 emissions.
Nonprofit Renews & Expands Footprint at Orange County Office Complex
The Regional Center of Orange County (RCOC), a nonprofit organization dedicated to supporting individuals with developmental disabilities, has renewed and increased its footprint at the Tustin Centre complex in Santa Ana, Calif.
RXR Closes in on $1 Billion Deal for Madison Avenue Office
RXR has finalized a significant deal to acquire the Plaza District skyscraper at 590 Madison Ave. by placing a $50 million deposit. Approximately 3.5 weeks prior, the company signed a letter of intent to purchase the building from the STRS Ohio state teachers’ pension fund for nearly $1.1 billion.
Blackstone Secures $1Billion Refi for Multi-State Industrial Portfolio
Blackstone Real Estate Income Trust (BREIT), the firm’s nontraded REIT, recently refinanced a portfolio comprising 59 industrial properties spanning 13 states. This was achieved by securing a $1 billion CMBS loan that was originated late last month. The syndicate of lenders for this loan includes Goldman Sachs, German American Capital Corp., Barclays Capital Real Estate Inc. and JPMorgan Chase. This is an interest-only, floating-rate loan with an initial term of two years and featuring three additional one-year extension options.
Carr Properties Sells Downtown D.C. Office Building to Shorenstein
Carr Properties sold the building at 901 K St. NW to Shorenstein for $84.3 million, according to documents filed with the D.C. Recorder of Deeds. The company originally developed the 219,000-square-foot property, located near the convention center, in 2009 and subsequently renovated it in 2021. Its current tenants include Baker Donelson; Seward & Kissel; Unite Here Local 25; and Microsoft.
