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.
Sheppard Mullin Moves Headquarters to CIM’s City National 2CAL
The new Sheppard Mullin headquarters will occupy floors 39 through 42 of the 52-story Bunker Hill building, which includes 1.4 million square feet of Los Angeles office space.
Lovett Industrial & Rosewood Property Co. Join Forces With New Development in Addison, Texas
The Addison Innovation Center boasts a strategic North Dallas location within convenient proximity of major highways and transportation hubs.
Alexandria Real Estate Equities Inks Boston Full-Building Lease to Novo Nordisk
Novo Nordisk will occupy the entire 165,000-square-foot R&D office property at 60 Sylvan Rd., currently in redeveloped for delivery in 2025.
Work-Life Balance Stats Between Remote Work, Stress & Job-Hopping
Overall, younger respondents are less content with the state of their work-life balance. Among resolutions for 2024, respondents mainly aim to reduce workplace stress and spend more time with loved ones to improve the balance between their work and personal lives.
Ionis’ Carlsbad Life Sciences Campus Expansion Breaks Ground
The expansion project will bring Ionis Pharmaceuticals’ life sciences and office campus in Carlsbad to a total of more than 400,000 square feet across four buildings.
Solomon Partners Inks 15-Year Deal at 1251 Avenue of the Americas
Solomon Partners will be expanding its U.S. headquarters through a new lease at 1251 Avenue of the Americas. Formerly known as the Exxon Building, the 2.4-million-square-foot Manhattan office tower now owned by Japanese real estate developer Mitsui Fudosan will be the new home of Solomon following the signing of a 15-year agreement. The company will occupy roughly 71,000 square feet on the entire 32nd floor and part of the 31st floor of the property.
Non-Profit Safe Horizon Opens New Office in Brooklyn
Safe Horizon has announced its relocation to a 20,000-square-foot space near downtown Brooklyn. The organization — which focuses on providing support to victims of violence — will occupy the sixth floor of Quinlan Development Group’s 41 Flatbush Ave., also known as the Pioneer Building.
RectorSeal Joins Tenant Roster at Tejon Ranch Commerce Center
RectorSeal — a global manufacturer and distributor of quality HVAC/R and plumbing products — is part of a growing list of companies moving its operations from the Los Angeles basin to the Tejon Ranch Commerce Center (TRCC). The company is set to take up half of the 480,000-square-foot industrial space at 5205 S. Wheeler Ridge Road in Arvin, Calif., a property owned by a partnership of Tejon Ranch Co. and Majestic Realty since 2017.
Ad Agency Saatchi Leases Flatiron District Office Space
M&C Saatchi Group closed on a deal that will result in a 40% reduction of its office footprint in New York City: The company signed a 10-year agreement for 13,000 square feet at 16 W. 22nd St., where it will occupy the entire ninth floor of the GFP Real Estate-owned building. Asking rent was $46 per square foot.
Areté & Chemtrec Leases Total 90,000 Square Feet at Falls Church, Va. Office
Golden Eagle Group secured two new leases totaling roughly 90,000 square feet at its office property in Falls Church, Va. One of the tenants is California-based defense tech company Areté Associates, which has inked a deal for 65,000 square feet of office space. Hazardous material disposal company Chemtrec — which will occupy more than 25,000 square feet of space in the eight-story building — is the other new arrival.
