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.
Columbia Property Trust Inks 2nd Lease Deal at 799 Broadway
Columbia Property Trust signed its second tenant at its ongoing development at 799 Broadway, just one a month after securing its first lease for the building. Bain Venture Capital will occupy the entire 10th floor – roughly 8,756 square feet – of the 10-story Manhattan office space on a 10-year contract. Asking rent was between $150 and $200 per square foot.
Microsoft To Lease 150,000 Square Feet in Union Square Office Tower
Microsoft signed a lease for 150,000 square feet of office space in the 10-story Flatiron District tower at 122 Fifth Ave. in Union Square. The tech giant will occupy roughly half of the property — floors six through 10, which were previously leased to Barnes & Noble. Asking rents remain undisclosed for the time being, and Microsoft has yet to establish a clear move-in date.
Rudin & BXP Sign 2nd Tenant at Brooklyn Navy Yards’ Dock 72
After a long pandemic wait, WeWork is no longer the only name on the tenant roster at Dock 72. Navy Yards will be the new home of Food52, relocating to Brooklyn from Chelsea in 2022.
Boeing-Leased Denver Office Property Sells for $67 Million
The property’s best-in-class amenities complement its location, which is highly advantageous in various industries, both for tenants looking to tap into the rich local talent pool, as well as tenants moving products throughout the region and beyond.
Office Vacancy Across Top U.S. Markets Dipped Below 15%, National Leasing Rates Stable
Office sales across key U.S. office markets analyzed for this most recent report surpassed $50 billion during the first nine months of 2021, while the average sales price per square foot continued to climb.
iCapital Extends One Grand Central Lease, Doubling Its Footprint
Fintech platform iCapital increased its footprint at One Grand Central Place in midtown Manhattan, virtually doubling its initial presence in the building to a total of 64,500 square feet.
Warner Bros. Sale Leaseback of the Burbank Ranch Now Official
The development delivery of the land swap deal is scheduled for 2023, which coincides with Warner’s 100th anniversary. Since breaking ground in early 2020, the Second Century Project’s distinct profile is already taking shape.
Revamped Los Angeles Creative Office Commands $153M
IRA Capital believes in strong post-pandemic recovery, pays $153 million on recently renovated Los Angeles office space leased to live entertainment tenant.
Nashville Yards Attracts Prominent Law Firm HQ Relocation
The largest law firm in Nashville has announced it will relocate its headquarters to the top floors of Southwest Value Partners’ 35-story office development at 201 Platform South.
VISA to Join Microsoft & Google in Atlanta’s Hottest Office Submarket
VISA joins Google, Microsoft, and others in the race to attract some of the diverse talent graduating from the various H.B.C.U.s in the city, as well as from Georgia Tech and Georgia State.
