Commercial Real Estate News
Your go-to source for news in the commercial real estate industry, covering all property types and asset classes across the most sought-after markets in the U.S. Stay up to date with news about notable lease deals and the newest sale transactions, recent ground-up construction, as well as redevelopment projects, and more.
Industrial Markets Navigate Changes Amid Tariff Tensions and Supply Shifts
Tariff uncertainty continues to impact the industrial sector and ripple through supply chains, as market conditions shift
UN Renews, Expands Office Lease in Manhattan
A Newmark team represented the United Nations in the recent renewal and expansion of its headquarters office lease in New York City, which brings together operations that were previously split between 1 and 2 UN Plaza.
Nonprofit Renews & Expands Footprint at Orange County Office Complex
The Regional Center of Orange County (RCOC), a nonprofit organization dedicated to supporting individuals with developmental disabilities, has renewed and increased its footprint at the Tustin Centre complex in Santa Ana, Calif.
Conversion Momentum Builds as Rising Vacancies Push Cities Toward Adaptive Reuse
Record office vacancies are creating opportunities for building owners to repurpose vacant spaces and for cities to combat housing shortages.
RXR Closes in on $1 Billion Deal for Madison Avenue Office
RXR has finalized a significant deal to acquire the Plaza District skyscraper at 590 Madison Ave. by placing a $50 million deposit. Approximately 3.5 weeks prior, the company signed a letter of intent to purchase the building from the STRS Ohio state teachers’ pension fund for nearly $1.1 billion.
Blackstone Secures $1Billion Refi for Multi-State Industrial Portfolio
Blackstone Real Estate Income Trust (BREIT), the firm’s nontraded REIT, recently refinanced a portfolio comprising 59 industrial properties spanning 13 states. This was achieved by securing a $1 billion CMBS loan that was originated late last month. The syndicate of lenders for this loan includes Goldman Sachs, German American Capital Corp., Barclays Capital Real Estate Inc. and JPMorgan Chase. This is an interest-only, floating-rate loan with an initial term of two years and featuring three additional one-year extension options.
Carr Properties Sells Downtown D.C. Office Building to Shorenstein
Carr Properties sold the building at 901 K St. NW to Shorenstein for $84.3 million, according to documents filed with the D.C. Recorder of Deeds. The company originally developed the 219,000-square-foot property, located near the convention center, in 2009 and subsequently renovated it in 2021. Its current tenants include Baker Donelson; Seward & Kissel; Unite Here Local 25; and Microsoft.
Iconic Downtown Los Angeles Office Tower Fetches $210 Million in Recent Sale
This Uncommon Developers acquisition marked the largest office deal in Los Angeles so far this year, with the $210 million price tag working out to more than $200 per square foot.
Coinbase Inks Lease for 58,000 Square Feet of Office Space in Charlotte, N.C.
Coinbase leased 58,000 square feet of office space in downtown Charlotte with plans to create a “Center of Excellence” office destination in the city, where a great variety of local art, dining, and shopping meet great accessibility and connectivity.
Miami Tower Attracts Surge in Office Leases
Towering over the intersection of Second Street and First Avenue in downtown Miami, the iconic Miami Tower has recently attracted new tenants, as well as inspired existing tenants to renew and even expand their office leases in the building.
