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.
CommercialCafe Market Exposure Increases as Yardi Launches Partnership with RealNex
Yardi is pleased to announce the inclusion of its CommercialEdge Listing Network within the RealNex’s MarketPlace listing syndication capability. The partnership will introduce more than 75,000 new for sale and lease listings to the network’s 2 million visitors.
Druker Submits Plans for Life Sciences Project in Boston’s South End
The company’s plan is to build two properties — linked via “an above-grade connection” — that would encompass lab and office spaces, along with ground-floor retail; an area for community gatherings or nonprofit use; and two levels of below-grade parking. The project would also include a landscaped pedestrian plaza connecting Washington Street and Shawmut Avenue.
Signature Acquisitions Closes on $88 Million Deal for Parsippany Office Building
Built in 2001, 300 Kimball was most recently renovated in 2013. It had an occupancy rate of 87% at the time of the sale. Specifically, the property’s tenant roster includes the likes of commercial property insurer FM Global; medical device manufacturer and distributer embecta; engineering and environmental consulting service provider Langan; and Western World Insurance/AIG.
Howard Hughes Signs Trio of Tenants at 60 Corporate Center
Dallas-based Howard Hughes closed the year with string of leases at its 115,000-square-foot office space in downtown Columbia, Md. Three new tenants are set to join the roster:…
Anchin Inks Deal for 46,000 Square Feet in Times Square
The property at 3 Times Square — also known as the Thomson Reuters Building — was built in 2001 by the Rudin family, who have been invested in upgrading the property throughout the last couple of years. Architectural firm FXCollaborative was brought in to redesign the building’s lobby and handle the integration of other improvements, such as the touchless entry system; a new elevator system; and an amenity space on the 16th floor with a dining area and a coffee bar, as well as a conference and event center.
Newmark Brokers $150 Million Loan for Revamp of Textile Building
In 2021, construction and rehabilitation work began to reshape the former Textile Building into a new, 19-story, 710,000-square-foot office tower. Efforts included upgrades to existing windows; HVAC and ventilation systems; elevators; and general infrastructure. Meanwhile, the lobby was redesigned by Studio MAI, adding more natural light through the use of arched ceilings.
Bradmore Secures Construction Loan for West Los Angeles Creative Office
The financing will go toward the completion of 42xx, a 151,000-square-foot, low-rise office campus located at 4204-4230 Glencoe Ave. in Silicon Beach, one of the most sought-after real estate markets in Los Angeles. Neighbors include the likes of video game developer Electronic Arts, which is partially leasing a new, 155,000-square-foot office property near the end of the 90 Freeway.
Empire Capital Lands $215 Million Acquisition Loan for Midtown Office
Located between West 53rd and West 54th streets, the tower totals 525,825 square feet. Built in 1965 and renovated in 2007, the Emery Roth & Sons-designed building has had a tumultuous couple of decades. Purchased at the height of the commercial real estate market in 2006 by Harry Macklowe, it commanded a whopping $498 million. Three years later, in the midst of the financial crisis, Macklowe had to auction it off. In 2010, RXR bought the tower off Otera for about $400 million. Five years later, Blackstone became the majority stake owner after it scooped up the property as part of a six-asset portfolio deal.
Business Group to Move into WeWork Offices in Downtown St. Louis
The deal will allow Greater St. Louis Inc. — which already occupies space on the 13th floor of the building — to lease out the entire 22nd floor, which had previously hosted coworking space provider WeWork. The move is expected to be completed by spring 2023.
Prologis Unveils Plans for Alameda Crossings Studio Complex
Located at 1716 E. Seventh St. on a nine-acre site that previously hosted a Greyhound bus terminal, the campus will feature 10 soundstages and 291,000 square feet of Los Angeles office and support space. The proposed project will also have a parking garage with capacity for 941 vehicles and 136 bicycles.
