Business Specialties
D.C. Sees 2011’s Largest Private Sector Lease
Skadden, Arps, Slate, Meagher & Flom L.L.P. recommitted to its digs in the Commercial National Bank Building and expanded its occupancy to 213,674 square feet at the 224,873-square-foot property with a new 15-year lease agreement.
Hyundai Capital Expands in SoCal
The firm has just moved into an additional 30,446 square feet of space at The Michelson, a 533,000-square-foot office tower in the city of Irvine.
When Financial Distress Leads to Physical Distress
In recent months, it appears that lenders, debtors and investors have begun to deploy some of the “dry powder” capital that has been sitting on the sidelines. However, the practice of amend and extend has meant that some of these assets have been sitting dormant or physically unprotected for long periods of time. The lack of TLC can lead to hidden problems. That necessitates increased due diligence, with careful attention paid to the debt structure, market valuation and physical characteristics of the property.
Commercial Real Estate Update: A Tale of Two Markets
With property values rebounding, greater availability of debt financing and a slew of significant recently completed merger-and-acquisition and individual property transactions, commercial real estate investors might be tempted to believe that a robust market recovery is underway. However, a closer look reveals a highly bifurcated market with enough potential future roadblocks to cause investors concern.
Phoenix Market Perks Up with 205,100-SF Lease
The Phoenix School of Law is expanding and relocating to The Tower at One North Central in the downtown market.
Panasonic to Move to Newark
The electronic products provider will occupy 250,000 square feet at the new tower at an initial estimated cost of $44 per square foot under a 15-year lease agreement.
Madison Gets 50 Percent Interest in Retail Center
Bridgeport Marketplace, a 126,769-square-foot, mixed-use asset, is located in the Southern California city of Valencia.
Savanna Investment Wields $1B of Buying Power
The firm just completed the final closing of its second real estate private equity fund, Savanna Real Estate Fund II L.P., with approximately $550 million of total equity commitments, marking a significant premium over the $400 million target.
Industrial Firm NFI Inks Massachusetts Lease
The supply chain solutions firm took 135,000 square feet at the Devans Industrial Park.
JLL Inks Lease Renewal on 980 Madison Ave.
The Gagosian Gallery signed a 10-year agreement on slightly more than 50,000 square feet in the Class A office building.