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Office news – page 42
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Office Distress Dominates Largest U.S. CMBS MarketsAcross the 50 most populous U.S. metropolitan statistical areas, CRED iQ’s proprietary loan analytics platform recorded an aggregate commercial mortgage-backed securities (CMBS) distress rate of 12.2 percent as of April.
Olshan Properties Receives $40M Loan for Refinancing of Manhattan Office BuildingNEW YORK CITY — An affiliate of Olshan Properties has received a $40 million loan for the refinancing of 99 Hudson Street, a 183,958-square-foot office building in Manhattan’s Tribeca neighborhood.
Developer Duo Greenlit for Doral Office Condo ProjectRieber Developments and Berca Development secured full site plan approval for Park Square Doral, a 58,000 square foot mixed-use condominium office and retail community in the Doral commercial corridor.
Representative imageBH Properties Sells Office Campus in Ontario, California to MGR Real Estate for $24.7MONTARIO, CALIF. — BH Properties has completed the disposition of Lakeview, a Class A office campus in Ontario, to MGR Real Estate for $24.7 million. Situated on a 7.8-acre site, the asset consists of two three-story buildings offering a total of 106,345 square feet, as well as 1.
Representative imageFM Acquires 290,000 SF Office Building in Downtown ProvidencePROVIDENCE, R.I. — FM, a Rhode Island-based commercial property insurer, has acquired 10 Memorial Boulevard, an office building in downtown Providence. According to LoopNet Inc., the 10-story building was constructed in 2006 and totals 290,000 square feet.
Kraus-Anderson to Build $175M Breck Athletic Complex in Big Bend, WisconsinBIG BEND, WIS. — The Milwaukee office of Kraus-Anderson (KA) will build the Breck Athletic Complex, a $175 million youth sports complex located at Highway 164 and I-43 in Big Bend, just southwest of Milwaukee.
Representative imageForbright Bank Buys Suburban DC Office BuildingThe firm had previously leased space in the tower for its headquarters. The post Forbright Bank Buys Suburban DC Office Building appeared first on Commercial Property Executive.
Skender Completes Office Interior Construction Projects in IndianapolisSkender, serving as the general contractor, has completed common-area upgrades and four office buildouts at the five-building, 1.1 million-square-foot Keystone Crossing office park in Indianapolis, Indiana.
Representative imageJump Trading Inks 99K SF at Related Companies’ 50 Hudson YardsTrading firm Jump Trading has secured a new office space at Related Companies’ 50 Hudson Yards in Manhattan, according to Colliers’ April office leasing report. Jump Trading, founded in 1999, specializes in algorithmic and high-frequency trading across global financial markets.
Representative imageHow Carr Properties Is Rebuilding Around the CustomerThe firm is re-focusing its office strategy and diving into multifamily. The post How Carr Properties Is Rebuilding Around the Customer appeared first on Commercial Property Executive.
Representative imageManhattan Office Demand Surpasses Averages With 3.6M SF Leased in AprilDemand for office space in New York City was healthy and robust in April, as Manhattan’s leasing velocity hit 3.61 million square feet during the month, according to the latest snapshot report from Colliers.
Cousins Offloading 30-Story Austin TowerCousins Properties is selling One Eleven Congress. Built in 1987, the 503,344-square-foot, 30-story building is the seventh-largest office tower in Austin. While no sales price has been disclosed, The Austin Business Journal reports Cousins spent $522 million in Dec.
PacVentures, AQUILA Buy 318,000 SF Office Complex in Northwest Austin, Plan UpgradesAUSTIN, TEXAS — A joint venture between San Diego-based investment firm PacVentures Inc. and Austin-based AQUILA Commercial has purchased The Campus at Arboretum, a five-building, 318,000-square-foot office complex in northwest Austin with plans to implement capital improvements.
Representative imageYardi Executive Summit Special Report: The State of CREUpdates on the office sector, coworking and tech. The post Yardi Executive Summit Special Report: The State of CRE appeared first on Commercial Property Executive.
Representative imageDFW LAND Buys Columbus Mixed-Use DevelopmentA joint venture sold the office and retail portions of the campus. The post DFW LAND Buys Columbus Mixed-Use Development appeared first on Commercial Property Executive.
Class B Office Turned Class A Multifamily Scores $46M RefiJLL Capital Markets closed a $46.25-million refinancing for 200 W Ocean, a 106-unit luxury multifamily asset in Downtown Long Beach.
Representative imageSteve Madden Inks 60K-SF Office Lease at ESRT’s 501 Seventh AvenueShoe and accessories retailer Steve Madden has signed a 13-year, 60,003-square-foot office lease at Empire State Realty Trust (ESRT)’s 501 Seventh Avenue in Midtown, the landlord announced in its first-quarter earnings report Thursday.
Representative imageOffice Sale Prices Surge, Volume Holds SteadyThe latest snapshot of national deal trends from Yardi Matrix. The post Office Sale Prices Surge, Volume Holds Steady appeared first on Commercial Property Executive.
Seven-Building San Jose Office Park Trades for $164MA seven-building office campus located in North San Jose and known as Rio Tech Office Park recently sold for $164.3 million, reported the Silicon Valley Business Journal.
Performance Gap Widens Between Class A and B Downtown Manhattan OfficesCushman & Wakefield sees a growing divide in Downtown Manhattan’s office market, where demand for top-tier, amenitized buildings is driving an increasingly pronounced gap in both performance and pricing across asset classes.