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.
Arup Moves to New Financial District Office in 100,000-Square-Foot Deal
Arup, a global consultancy focused on sustainable development, is relocating its New York City operations. The company signed a lease for approximately 100,000 square feet at 140 Broadway, a 51-story office building in Manhattan’s Financial District owned by Union Investment.
Trio Manufacturing Moves Headquarters Following $20 Million Expansion
Trio Manufacturing, a company specializing in aircraft engineering and manufacturing for both commercial and military sectors, is significantly expanding its operations in the South Bay. The company is relocating its headquarters and manufacturing plant from El Segundo, Calif., to a 123,200-square-foot industrial facility located at 17006 S. Figueroa St. within the Harbor Gateway area near Gardena and Carson, Calif.
Santander Stays Put: 7-Year Renewal at 437 Madison Ave.
Santander Bank has opted to remain at its current U.S. headquarters, located at 437 Madison Ave. The Spanish financial institution has finalized a seven-year lease renewal for 191,667 square feet, encompassing floors five through 10 of Sage’s 40-story office tower in Midtown East, with the added provision of a lease extension option.
Penzance Expands Industrial Portfolio With $55 Million in Northern Virginia Purchases
The $55 million acquisition included Gateway Centre in Northern Virginia — a 102,277-square-foot industrial flex building constructed in 1988 and located at 7201-7401 Gateway Court — and Linden Business Center, a similarly sized, 109,809-square-foot property at 7245-7795 Coppermine Drive that was built in 2001. The assets total 212,086 square feet and were sold by a partnership between Davin Holdings and The Davis Companies.
Aphorio Carter Expands Data Center Portfolio in Kentucky
Aphorio Carter makes eighth and ninth data center acquisitions since the company founding in 2022, now totaling nearly $240 million in total assets under management.
Global Holdings Locks In 31,000-Square-Foot Lease Expansion at 99 Park Ave.
Having outgrown its current headquarters at 200 Madison Ave. (for which it had originally signed a decade-long agreement in early 2022), Garan is now leasing the entirety of the 31,663-square-foot sixth floor at 99 Park Ave., a property managed by Global Holdings Management Group. This expansion complements Garan’s existing 31,754-square-foot space on the property’s seventh floor to bring its total footprint to 63,417 square feet.
Newmark Signs Renewal With SL Green, Doubles Footprint at 125 Park Ave.
SL Green, the dominant office landlord in Manhattan, has finalized a 15-year, 144,418-square-foot renewal and expansion lease with Newmark at 125 Park Ave.
Amazon Partners With WeWork to Expand Footprint at Five Manhattan West
Amazon and WeWork are partnering again, this time at Five Manhattan West in Hudson Yards. The coworking firm has executed a 112,265-square-foot sublease at the Brookfield Properties-owned office building for the e-commerce giant to secure space that was previously held by the Interpublic Group of Companies.
Fisher Brothers Secures New, 10-Year Loan for 299 Park Ave.
Fisher Brothers has secured a $500 million refinancing loan for its recently completed renovation of 299 Park Ave., its Midtown office property and headquarters. Citi Group and J.P. Morgan are providing this new, 10-year mortgage, which exceeds the building’s previous loan by more than $100 million.
Rockpoint Buys Central Massachusetts Distribution Center in Record Deal
Rockpoint’s aquisition of the 70-acre Greater Boston warehouse and distribution property marked the largest real estate sale in Central Massachusetts since the Staples headquarters changed hands in 2020.
