Office

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Floyd Mayweather Invests in $10B Office Portfolio with 601W

Floyd Mayweather Jr. makes his biggest investment yet, partnering with 601W Companies on a $10B office portfolio spanning major cities like New York and Chicago.

By Jordan B.

November 19, 2024

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Brookfield’s BofA Tower in LA Sees 69% Drop in Appraised Value

The Bank of America Plaza in LA, a key property in Brookfield Asset Management’s portfolio, has seen a dramatic 69% drop in appraised value.

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U.S. Office Market Recovers as Net Absorption Turns Positive

The U.S. office sector showed promising signs of recovery in Q3, with net absorption turning positive for the first time in two years.

SL Green’s $743M Loan on Times Square Tower in Special Servicing

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SL Green’s $743M Loan on Midtown Tower in Special Servicing

SL Green’s $743M loan for 1515 Broadway, the proposed site for a Caesars Palace casino in Times Square, has entered special servicing.

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AstraZeneca’s Invests $3.5B in U.S. Research and Manufacturing

AstraZeneca to invest $3.5B by 2026 to expand its research and manufacturing across the country, with over 1K high-skilled jobs projected.

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NYC Faces Post-Pandemic Office Lease Expiration Surge

Manhattan’s office market will see nearly 55 MSF of lease expirations by 2027, with owners of older buildings facing the brunt of vacancies.

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Watertown, MA: Fastest-Growing U.S. Life Sciences Hub

Watertown, MA, has emerged as the nation’s most dynamic life sciences hub, rapidly expanding lab space and attracting industry giants.

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Toro Taps Mexico for $158M for Mixed-Use Project

Toro Development Company secured $560M in financing to launch Medley—a mixed-use development in Johns Creek, GA—partly from Mexico.

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Simon Property Group Expands With Fort Worth Offices

Simon Property Group is enhancing The Shops at Clearfork in Fort Worth by adding office space as part of its $4B redevelopment pipeline.

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Office, Multifamily Sectors Lead CRE’s Q3 Growth

U.S. CRE enjoyed a notable Q3 recovery, thanks to higher sales volumes in office and multifamily, while industrial and hospitality were mixed.

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Judge Orders RFR to Cede Chrysler Building to Cooper Union

An NYC judge ruled that Cooper Union can take over management of the Chrysler Building due to $21M in unpaid ground rent by RFR Holding.

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LA Koreatown Office Tower to Become 230+ Apartments

Jamison, one of LA’ largest apartment landlords, is converting a 13-story office building in Koreatown into over 230 apartments.

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Community Banks Rise as Office Loans Weigh on Regional Banks

Regional banks are feeling the heat from CRE loans in the office sector, while smaller community banks are outperforming.

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Amazon Eyes HSBC’s Fifth Ave Office for NYC Expansion

Amazon is negotiating to lease 350 KSF at 452 Fifth Avenue as it prepares to bring employees back to the office in early 2025.

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High Vacancies Cost Dallas, Houston $3B in Office Rents Yearly

With a combined 103 MSF of empty office space, Dallas and Houston are facing a $3B annual loss in potential rental income, raising concerns.

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Private-Label CMBS Issuance to Surpass $100B in 2024

Private-label CMBS has emerged as a strong lending performer, with issuance on track to exceed $100B this year, according to Colliers.

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Rockefeller Center Seeks $3.4B Refi Via Major CMBS Deal

Tishman Speyer and Henry Crown & Co. are raising $3.4B through CMBS to refinance Rockefeller Center’s office and retail space.

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Bloomberg Expands NYC Office Footprint With 925 KSF Lease

Bloomberg signed a 925 KSF lease at 919 Third Avenue, expanding its office space in Manhattan to nearly 2 MSF this year.

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SL Green, RXR Default On Manhattan Office Tower

SL Green and RXR Realty, the high-profile owners of a large Manhattan office tower, have defaulted on a $940M loan backed by the property.

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Manhattan Offices See Highest Net Absorption in a Decade

Manhattan’s office market is making a strong comeback, posting its highest net absorption levels in a decade, according to a report from Transwestern.