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.
CBS Building in Midtown Manhattan to Trade Hands for First Time
Harbor Group International purchased the CBS Building in Midtown Manhattan for $760 million in a seller-leaseback transaction from ViacomCBS which will maintain its presence in the building but reduce its footprint.
Maximizing Property Potential Through Adaptive Reuse: 6 Success Stories
Preserve and showcase the unique local character defined by the craftsmanship of previous generations, while also creating space for modern interiors and uses, through adaptive reuse restoration.
One Town Center Sells in Boca Raton’s Largest Office Deal of 2021
Prime US REIT paid $99.5 million for One Town Center, an office building located in Boca Raton’s retail district, along North Military Trail, Previously owned by a joint venture between CP Group and Siguler Guff, the property went for roughly $514.40 per square foot, making it the largest office deal in 2021 for the Boca Raton market.
Newmark Leads $147.5M Refinance of Presidents Plaza in Chicago
Newmark arranged a refinance of Chicago office space property Presidents Plaza on behalf of Angelo Gordon and Glenstar Properties for $147.5 million from Bank of America. The two Class A adjacent properties each consist of two towers and a three story atrium connecting them.
Return to the Office: Keeping the Workspace Safe & Healthy in 2021
Companies the world over are learning how to ensure an adequate environment for employees. Here are a few ways in which we can each contribute to creating a safe and healthy shared workspace.
43,000 Square Feet of Office Space Leased at 505 Fifth Ave., Brokered by JLL
Pharmaceutical company Mesoblast, investment bank Brean Capital and broker-dealer Brownstone Investment Group all signed multi-year leases at 505 Fifth Ave in Midtown Manhattan, totallying nearly 43,000 square feet of office space.
Wafra Secures $500 Million Construction Loan for 111 Wall St
The loan will fund a complete overhaul of 111 Wall St. led by Studios Architecture and will last approximately two years. The building will be outfitted with the latest in touchless and smart-building technology.
Feldman Equities Acquires Fort Lauderdale Office in $59 Million Deal
Feldman Equities closed a $59 million deal for a Pinnacle Corporate Park in Fort Lauderdale, Fla. The seller — a joint venture between DRA Advisors and Banyan Street Capital — received roughly $226 per square foot for the property, a record price for the Cypress Creek submarket in the last decade.
CommercialEdge & SharpLaunch: A New Partnership for Your Full-Service Client Experience
Yardi continues to enhance its marketing and proptech partnership strategy by launching a new collaboration, between CommercialEdge and SharpLaunch, following several team-ups with digital disruptors.
Expert Insights: Chicago Real Estate Attorney John Goldstein Discusses Office Leasing in the Current Marketplace
What are the most popular concessions that tenants with long-term office leases try to negotiate for? Considering the COVID-19 outbreak, did lenders’ attitude towards investing in commercial real estate, especially larger office buildings, change? We sat down with John A. Goldstein, a real estate attorney and officer at Greensfelder, Hemker & Gale, P.C., in Chicago to talk about the current changes in the CRE marketplace.
