Accounting firm KPMG will cut more than 40% of its New York City office footprint and relocate its U.S. headquarters to Brookfield Properties’ 2 Manhattan West, the firm announced. KPMG inked a 20-year deal for 456,000 square feet across 12 floors of the under-construction Hudson Yards skyscraper to … [Read more...] about 8.17.22: KPMG CUTS OFFICE SPACE BY 40% IN HUDSON YARDS MOVE
4.10.22: CENTURY-OLD DEPARTMENT STORE CONVERTED INTO CREATIVE OFFICE HUB
In a former historic Ames & Brownley department store in downtown Norfolk, Virginia, a local company is sewing together a tapestry of complementary tenants -- creative companies, tech startups and freelancers -- in one building ecosystem. The 50,000-square-foot multi-tenant office campus, … [Read more...] about 4.10.22: CENTURY-OLD DEPARTMENT STORE CONVERTED INTO CREATIVE OFFICE HUB
11.9.21: OFFICE OUTLOOK: TENANT INQUIRIES RISE, BUT SUBLEASE CHALLENGES REMAIN
The CBRE Pulse of U.S. office demand showed modest improvement in October with a notable uptick in new leasing requirements, while leasing activity and sublease availability held relatively steady. To gauge the pace of recovery, CBRE has created 3 indices for the 12 largest U.S. office markets -- … [Read more...] about 11.9.21: OFFICE OUTLOOK: TENANT INQUIRIES RISE, BUT SUBLEASE CHALLENGES REMAIN
9.6.20: SL GREEN VENTURE OPENS ONE VANDERBILT OFFICE TOWER IN MANHATTAN
A venture led by SL Green Realty Corp. has opened its 1.7-million-square-foot One Vanderbilt office tower in Manhattan. The 67-story property, which sits next to Grand Central Terminal between East 42nd and 43rd Streets, is about 70% leased to tenants that include TD Bank, Carlyle Group, Sentinel … [Read more...] about 9.6.20: SL GREEN VENTURE OPENS ONE VANDERBILT OFFICE TOWER IN MANHATTAN
VALUEXPRESS OBTAINS $3.7-MILLION CMBS CONDUIT LOAN FOR A CLASS A OFFICE BUILDING LOCATED IN BOCA RATON, FL
ValueXpress obtained a $3.7-million first-mortgage loan that was utilized to refinance existing debt secured by a 25,400-square-foot multi-tenant office building located in Boca Raton, Florida. The property, constructed in 2006, is currently 87% occupied by 16 tenants, primarily local professional … [Read more...] about VALUEXPRESS OBTAINS $3.7-MILLION CMBS CONDUIT LOAN FOR A CLASS A OFFICE BUILDING LOCATED IN BOCA RATON, FL
12.19.19: MACK-CALI DIVESTING SUBURBAN OFFICE HOLDINGS
On December 19, 2019, Mack-Cali Realty Corporation (NYSE: CLI) announced that it will be divesting all of its suburban office holdings -- spanning 6.6 million square feet -- in 2020, as recommended by its shareholder committee. The company has already approved the sale of two of its N.J. office … [Read more...] about 12.19.19: MACK-CALI DIVESTING SUBURBAN OFFICE HOLDINGS
ValueXpress Obtains $3.7-Million CMBS Conduit Loan for a Class A Office Building Located in Boca Raton, FL
ValueXpress obtained a $3.7-million first-mortgage loan that was utilized to refinance existing debt secured by a 25,400-square-foot multi-tenant office building located in Boca Raton, Florida. The property, constructed in 2006, is currently 87% occupied by 16 tenants, primarily local professional … [Read more...] about ValueXpress Obtains $3.7-Million CMBS Conduit Loan for a Class A Office Building Located in Boca Raton, FL
6.26.18: Flexible Office Space Firms Growing Exponentially in New York City
Flexible office space operators are expanding at a rapid pace in New York City, mirroring trends across the United States. Flexible office space is a concept that allows small companies and/or individuals to share or rent workstations or small self-contained office units. The space is often rented … [Read more...] about 6.26.18: Flexible Office Space Firms Growing Exponentially in New York City
9.16.16: ValueXpress Arranges Groundbreaking CMBS Conduit Loan for Office Suite Portfolio
ValueXpress has arranged a $28-million CMBS conduit loan secured by a portfolio of eight office buildings that are specifically designed and leased as office suites. The transaction is by far the largest office suite transaction completed since the restart of the CMBS conduit loan market in 2010. … [Read more...] about 9.16.16: ValueXpress Arranges Groundbreaking CMBS Conduit Loan for Office Suite Portfolio
9.13.16: More Takeaways from the Yeager Office Suite Transaction
One of the most fascinating takeaways from the Yeager Office Suite transaction is the extraordinary demand for office suite space. It was not uncommon for new buildings in the portfolio to absorb to 100% occupancy within 90 days. Knowing that traditional suburban office buildings are struggling in … [Read more...] about 9.13.16: More Takeaways from the Yeager Office Suite Transaction
