Office
Read the latest real estate industry news with a focus on traditional office space leases, office property sale transactions, new office project construction and adaptive reuse repositioning programs, and more.
ARCO Design/Build Celebrates Grand Opening of New Downtown Charleston Office Space
Strategically placed overlooking King Street, ARCO’s new Charleston office space is located in the heart of the central business district and celebrates the firm’s successful growth over the past years.
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.
Carr Workplaces Reopens Renovated Midtown Manhattan Coworking Location
The newly renovated coworking and shared office space reopens with a wealth of top-tier amenities and facilities designed to meet hybrid work and diverse other professional workspace needs.
46Labs Opens New Office Space in Dallas
46Labs begins new phase of growth in its new and larger office space in Dallas’ West End, located in the industrial-to-office redevelopment project dubbed Factory Six03 on Munger Avenue.
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.
Office Pipeline 2025: Construction Slowdown Expected to Stabilize Vacancy Rates
Following a 44% year-over-year drop and standing at an estimated 55 million square feet, the total volume of U.S. office space under construction this year is the lowest it’s been in a decade. Even so, a look at construction activity across U.S. markets reveals Boston’s continued dominance (8.7 million square feet), despite the shrinking pipeline.
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.
