Deals
Focusing on commercial property transactions? Stay up to date with the latest investment sales and lease agreements across all major commercial property types: Both traditional and flexible office space properties, retail spaces, industrial real estate, life sciences, data centers, and more.
Grow Therapy Expands Manhattan Footprint With Essex Crossing Lease
Grow Therapy has inked a lease for more than 78,000 square feet at 145 Delancey St., a building that’s part of the Essex Crossing complex. The new location, which is poised to quadruple Grow Therapy’s footprint in Manhattan, N.Y., is expected to serve as the company’s main hub for its product development, as well as its engineering and administrative operations.
Shorenstein Acquires Tishman-Owned SoHo Office for $132.5 Million
Tishman Speyer completed the sale of a 12-story, Class A, boutique office space in Manhattan, N.Y.’s SoHo neighborhood for $132.5 million with an estimated price per square foot of $866. Newmark’s Adam Spies, Doug Harmon, Adam Doneger, Marcella Fasulo, Avery Silverstein and Joshua King represented the seller during the negotiations.
AVRS Takes 11% Stake in BXP-Owned Office Tower
AVRS Partners acquired an 11% stake in a planned 46-story, Class-A, Manhattan, N.Y., office space owned by BXP. The 930,000-square-foot development project at 343 Madison Ave. is set to be completed by 2029 and will cost an estimated $2 billion.
King Street Locks Down $238M Refinancing for Research Triangle Campus
King Street Properties has obtained a $238 million loan to refinance debt for one of its industrial developments within North Carolina’s Research Triangle. Starwood Property Trust provided the capital for the first phase of an eventual 950,000-square-foot life sciences campus in Morrisville, N.C.
Joint Venture Takes Ownership of 1301 Avenue of the Americas
DRA Advisors is entering into a joint venture agreement with New York-based real estate investment trust Rithm Capital for the ownership of 1301 Avenue of the Americas. DRA is set to take a 49% stake in the property with Rithm maintaining its majority share at the 1.7-million-square-foot, Manhattan, NY, office tower.
Sony to Potentially Anchor Tishman-Proposed Hudson Yards Tower
Sony is in the midst of negotiations to anchor Tishman Speyer’s planned 99 Hudson Blvd. office tower. If successfully concluded, the deal will enable the electronics giant to move its operations from its current Manhattan headquarters at 11 Madison Ave.
Flint Development Secures Massive Lease Deal for its Northern Virginia Warehouse
J.E. Richards signed a 935,000-square-foot lease at a Flint Development-owned warehouse in Stafford, Va., in what is one of the biggest single-tenant deals of its kind in the northern Virginia market. The agreement extends throughout a 10-year period, with 500 J.E. Richards employees expected to move into the warehouse before the end of the year.
String of New Leases, Expansions & Renewals at Cohen Brothers’ Red Building in West Hollywood, Calif.
Cohen Brothers has secured seven leases totaling nearly 96,000 square feet at the Red Building, a creative office space in West Hollywood, Calif., that’s part of the company’s Pacific Design Center complex. The deals include new tenants, while also locking down a series of existing beauty, fashion and tech tenants.
Ares Forks Over $109 Million for 2 Miami-Dade Industrial Assets
Ares Management has closed a deal worth $108.7 million for two fully leased industrial warehouses in Miami(opens in new tab)-Dade County. The assets — previously owned by BGRE (formerly known as Brookfield Properties) — include a 230,147-square-foot distribution center at 3811 W. 108th St. in Hialeah, Fla., which fetched $65.3 million, and a 142,472-square-foot warehouse at 13190 NW 17th St. in Sweetwater, Fla., that sold for $43.4 million.
General Atlantic Inks 150,000-Square-Foot Lease to Anchor 625 Madison
Related Companies secured a lease to anchor its 858,500-square-foot office space in Manhattan’s Plaza District. The tenant is General Atlantic, a global investment firm that’s set to occupy five floors totaling 150,000 square feet within the building upon its completion, which is scheduled for 2029. About one-third of the company’s global workforce (330 employees) will be working from 625 Madison Ave. once the move is completed. Â
