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.
Signature Bank Doubles Footprint at 1400 Broadway
Following the closing of this new, 15-year lease, the New York-based bank will pay an asking rent of roughly $67 per square foot for a total of 280,182 square feet of Manhattan office space spread across 10 floors. The tenant roster at 1400 Broadway also includes the likes of IPG and Burlington Coat Factory, as well as French skincare company Clarins, which recently leased 15,000 square feet in the 37-story building.
Congress Square Office Tower in Downtown Boston Recapitalized
Just off of fresh renovations, 40 Water St, a.k.a. Congress Square, in downtown Boston has been recapitalized with new owners led by Hana Financial and KTB Asset Management which took a 95% ownership stake in the property for $342 million.
Longpoint Fetches Miami-Dade Warehouse for $59 Million
“Aventura Industrial Center is strategically located along the Golden Glades interchange, one of the largest interchanges in South Florida where four of the tri-county’s most important roads and highways converge,” said Lobón, an executive vice president at CBRE. “This central location provides equidistant connectivity to each county’s principal growth driver: Miami International Airport, Fort Lauderdale International Airport, Port of Miami and Port Everglades.”
NASIS Buys Recently Completed South Bend Corporate Office Property
The Los Angeles investor has recently completed the acquisition of a newly constructed corporate office building that is part of the Ignition Park development in South Bend, Indiana.
Cousins Properties Sells LEED Platinum Austin Office Building
Cousins Properties has been actively restructuring its Sun Belt portfolio throughout 2021. In a recent move, the company sold its Congress Ave LEED Platinum-certified office building.
Goldman Sachs, Lincoln Harris, Honeywell JV Sells Newest Charlotte Legacy Union Office Building
Electronics manufacturer Honeywell International is in the first year of its 15-year Charlotte office space lease at Legacy Union, which is only one of the many points of attraction for investors bullish on the hot North Carolina market.
42floors.com Relaunched Following Yardi Acquisition & Update
Yardi Systems — the leading provider of software solutions for the real estate industry — announced its acquisition and redesign of popular CRE marketing platform 42Floors.com. The website was previously owned by Roni Mova, principal of United Group, who was represented by Dan Fasulo.
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.
