The firm dished out $105.5 for a property in Lower Manhattan, highlighting the area—and the entire Manhattan market as a whole—as one where interest in high-profile office properties are beginning to see demand once again.
Category: Office News
The story of Chicago’s office market continues to revolve around its biggest buildings — and its biggest challenges. Willis Tower, the city’s largest office asset at 233 S. Wacker Drive, is a prime example. Once…
Amazon has purchased the vacant office building at 522 Fifth Ave. for $456 million, adding to its growing footprint in Midtown Manhattan. The 23-story, 600,000-square-foot property is located at the corner of 44th Street, which…
Manhattan’s office market is firming up. The borough’s vacancy rate dropped to 16.5% in March 2025, down 110 basis points from a year earlier — one of the sharpest year-over-year declines among major U.S. markets…
Chicago’s office market continues to face distress-driven pricing with sale prices falling sharply. According to CommercialEdge, through February 2025, office assets traded at an average of $67 per square foot — the second-lowest among major…
Manhattan’s office market continues to show signs of a comeback. Vacancy rates are tightening, investor confidence is growing and major companies are recommitting to the city’s office spaces. At the forefront of this shift is…
Miami retains one of the country’s lowest office vacancy rates — although, like the national trend, its rate has risen steadily in recent years: As of January 2025, CommercialEdge reported that Miami’s vacancy rate was…
Philadelphia’s office vacancy rate reached 19.6% in January – an increase of 570 basis points from the previous year and the highest in the Northeast. While this figure is just below the national average of…
Miami’s office market has recorded its largest lease of 2025 so far, according to multiple sources: TracFone Wireless, a Verizon subsidiary, signed for more than 51,000 square feet in the Waterford Business District near Miami…
Despite economic pressures, Manhattan’s office market showed resilience in late 2024. Specifically, leasing activity rebounded in the fourth quarter, driven by finance firms hungry for top-tier space in prime locations like Park Avenue. Meanwhile, office…
