Office commercial real estate news and analysis.
The gaming giant has finalized a nine-figure acquisition of municipal parkland in the Bronx, marking a major step forward for its planned casino development after securing state approval late last year.
Hudson Pacific Properties continues to face severe financial headwinds, recording a $277.9 million loss that marks the third consecutive year of nine-figure deficits for the REIT. The results highlight the deepening distress within the Hollywood studio and office sectors.
The office and studio-focused REIT recorded a net loss of nearly $278 million, marking a troubling trend for the operator amidst a shifting landscape for entertainment and office real estate. This financial downturn highlights the deepening volatility facing owners of production assets in Los Angeles.
Defying broader remote work trends, law firms across the United States have significantly increased their physical footprint, pushing leasing activity well beyond pre-pandemic benchmarks. New data indicates that the legal industry remains a steadfast anchor tenant in a turbulent office market.
386 Park Avenue South has secured three new tenants totaling over 65,600 square feet, with venture capital firm Primary Ventures and software company Sigma Computing each committing to approximately 26,250 square feet in the Manhattan property.
A trio of tenants has committed to more than 65,000 square feet of office space at 386 Park Avenue South, led by significant commitments from venture capital firm Primary Ventures and software company Sigma Computing.
Nearly 66,000 square feet of office space has been claimed at a prominent NoMad address, with venture capital and software firms leading the charge in a trio of new transactions.
The commercial real estate brokerage surpassed Wall Street expectations with fourth-quarter earnings of 68 cents per share, demonstrating resilience despite recent volatility driven by broader concerns about artificial intelligence's impact on the industry.
The unfinished Oceanwide Plaza complex, widely known as the 'Graffiti Towers,' has attracted a $470 million bid from KPC Development and Lendlease. This offer marks a pivotal turnaround attempt for the bankrupt project one month after an exit plan was established.
Despite shifting political winds in New York City, Ken Griffin's Citadel is spearheading a major redevelopment of 350 Park Avenue in partnership with Rudin and Vornado, signaling long-term confidence in the Midtown office market.
Corey Horowitz brings decades of office leasing expertise to Colliers as the firm looks to expand its market share in the competitive tri-state region. The move signals Colliers' continued investment in top-tier talent amid a shifting office market landscape.
The employee-owned electrical contractor has secured over 300,000 square feet of warehouse and distribution space across multiple Virginia markets since late last year, signaling strong demand for industrial real estate in the Mid-Atlantic region.