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.
ATCO Locks Down 2 Lease Renewals at Midtown Office
ATCO Properties & Management has sealed two renewals at 555 Fifth Ave. as existing tenants Telsey Advisory Group (TAG) and Maritime Capital LLC committed to the 257,000-square-foot property in the heart of Midtown. Both firms have been part of the building’s tenant roster since 2017, according to the landlord.
Carlo Bellini-Owned Financial District Office Changes Hands in $297 Million Transaction
Carlo Bellini’s 99c has expanded its footprint across New York City with the acquisition of a 1.2-million-square-foot office tower in Manhattan’s Financial District. The company forked over $297 million to buy 180 Maiden Lane from a joint venture between Clarion Partners and MHP Real Estate.
Sterling Bay Signs Leases with U.S. Travel Association & CEPI in Renovated D.C. Office
A joint venture comprised of Chicago-based Sterling Bay — along with MRP Realty and Declaration Partners — inked two new leases with the U.S. Travel Association and the Coalition for Epidemic Preparedness Innovations (CEPI) for a total of 25,745 square feet at its Washington, D.C. offices at 1899 Pennsylvania Ave.
Denver Welcomes New Class A+ RiNo Office Building
New Denver office space is open for business in the RiNo district, at the Paradigm River North project developed by a joint venture between and Jordon Perlmutter & Co. and Rockefeller Group.
Harbor Associates Secures Refinancing of Formerly Distressed Westwood Office
Harbor Associates and F&F Capital Group secured a $36.3 million refinancing loan from Argentic Real Estate Finance. The five-year loan with a fixed interest rate of 7.5% will be used to pay off existing debt on the 158,000-square-foot property located 1640 Sepulveda Blvd.
RFR Fetches $560 Million for Upper East Side Property
Aby Rosen’s RFR Holding recently sold 980 Madison Ave. — a mixed-use building on the Upper East Side known for its art galleries — for more than half a billion dollars. The buyer is Michael Bloomberg’s Bloomberg Philanthropies, which intends to convert the property into a family office.
WaterFurnace International to Double Fort Wayne Headquarters Office Footprint
The renewable energy technology and manufacturing company will reportedly ensure energy for the sizeable headquarters expansion through the existing pond loop heat pumps on site.
PMB Tops Out New Medical Office Building in San Jose, Calif.
An essential part of the Bascom Station mixed-use project, this development marks the 10th local Valley Health Center and delivers more than 200,000 square feet of San Jose medical office space to meet the needs of the surrounding community.
Breakthrough Secures 3 Biotech Tenants for Lab & Office Space in Cambridge, Mass.
Incendia Therapeutics, Larkspur Biosciences, and Deep Genomics join the Cambridge MA ecosystem and rent new Boston office space being redeveloped at One Canal by Breakthrough.
Hines’ Hudson Square Footprint Reaches 22,000 Square Feet Following Latest Expansion
Hines — a Houston-based real estate investor and developer — is expanding its Hudson Square presence by connecting its existing, 17,000-square-foot office space on the 12th floor of 345 Hudson St. to an additional 15,000 square feet in the adjacent building at 555 Greenwich St. This 12-year lease expansion is part of a joint venture with Trinity Church Wall Street and Norges Bank Investment Management. Hines developed and owns both properties.
