Office commercial real estate news and analysis.
A fully leased, two-building industrial portfolio in Eagan has traded hands for $26.4 million, highlighting continued investor appetite for well-positioned logistics assets in the Twin Cities suburbs. The 169,656-square-foot Gateway I & II complex features modern specifications and prime accessibility near Minneapolis-St. Paul.
Gary Barnett's Extell Development has made its first move into the Philadelphia market, acquiring an Old City office building in partnership with a local firm. The strategic purchase suggests the prominent New York developer sees value opportunities in the neighboring market.
Delmonico's Hospitality Group has secured nearly 12,000 square feet at 1330 Avenue of the Americas, marking the legendary steakhouse's significant expansion beyond its Financial District roots. The deal signals continued confidence in Midtown Manhattan's retail and dining corridor.
Following its recent acquisition by Estein USA and Vanderbilt Office Properties, the 549,000-square-foot Pinnacle Tower on the Lower Tollway has a new leasing team. JLL will now oversee marketing and tenant relations for the Class A office asset, which currently maintains strong occupancy levels.
A newly released index reveals that high-end flexible workspace in London is achieving rental rates significantly above traditional office leases, with premium properties in select submarkets commanding more than 200% of standard headline rents.
A joint venture between Creation and Horizon Real Estate has secured commitments from four new tenants at The Switchyard in Queen Creek, Arizona, signaling continued momentum for the Southeast Valley's retail sector. The 10-acre mixed-use development continues to attract interest as the submarket experiences population-driven expansion.
Onyx Equities' Inwood Logistics Center has secured two new industrial tenants totaling over 87,000 square feet, with airline caterer Gate Gourmet leading the charge. The deals underscore continued demand for well-positioned logistics space in New York's outer boroughs.
A new breed of industrial outdoor storage properties equipped with electric vehicle charging infrastructure is commanding premium rents as logistics operators race to decarbonize their fleets. The emerging eIOS subsector represents a compelling opportunity for investors willing to upgrade existing assets.
Market maker Optiver has significantly expanded its presence at 360 Park Avenue South, adding 92,000 square feet to bring its total footprint to approximately 115,000 square feet. The deal is part of a broader leasing surge at the BXP-owned property, with four new tenants combining for 184,000 square feet of activity.
A Starwood Property Trust affiliate has offloaded a prime retail condominium in Manhattan's Greenwich Village, anchored by longtime tenant Le Poisson Rouge. The $21.3 million transaction highlights continued investor appetite for well-leased cultural venues in established nightlife corridors.
A purpose-built data center facility in Carlstadt, New Jersey has secured a full-building commitment, highlighting the continued institutional demand for compute-ready infrastructure in the New York metro area. The transaction underscores Bergen County's emergence as a critical node for digital infrastructure.
Boston's coworking sector is expanding at a rate that surpasses national trends, as elevated office vacancies create prime expansion opportunities for flexible space operators targeting the region's innovation-driven workforce.