Flexible Finance Seals Lease Deal at 300 Park Ave.
Flexible Finance, a fintech firm that offers residential landlords the ability to draw rent in installments, signed a 41,000-square-foot lease for the top three floors of Rockrose Development’s 300 Park Ave. S. The move from its previous location at 33 Irving Place represents a significant expansion for the company.
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SparrowHawk & Almanac Secure $236 Million Acquisition Loan for EQT Industrial Portfolio
SparrowHawk and Almanac Realty Investors have teamed up to acquire a 20-property portfolio spanning six markets and totaling 4.4 million square feet of industrial space previously owned by EQT and valued at $400 million. The deal was financed by a $236 million loan(opens in new tab) provided by PPM America and is structured as a five-year, fixed-and-floating-rate mortgage.
Comcast Moves Into New Times Square Office
Comcast sealed a 141,000-square-foot lease at 1540 Broadway in Times Square. The move marks a relocation and consolidation push from Comcast, which previously conducted its advertising sales and technology division’s operations from Shorenstein Properties’ 1407 Broadway and BGRE’s 55 W. 46th St.
More Office Markets See Dip in Vacancy, Pipeline Remains Modest, Medical Office Space Trends Toward Growth
Supported by favorable, long-term health care trends, such as the aging demographic and an increase in healthcare services demand, the medical office sector remains well-positioned for future growth, whereas traditional office space navigates widespread restructuring and consolidation in the face of weak demand.
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