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Manhattan Office Landscape Stands Steady
Midtown South and Chelsea are adding firms in the technology, advertising, media and information industries, while some financial companies ponder a shift to Hudson Yards, where more than 10 million square feet are expected to come online over the next few quarters.
WeWork Leases SF Office Tower
The coworking space provider has signed a deal with Kennedy Wilson and Takenaka Corp. to fully occupy 430 California St., as well as the historic bank building next door.
Bay Area Life Sciences Campus Lands $385M Refi
HFF worked on behalf of Phase 3 Real Estate Partners to arrange the refinancing of Genesis North and South Towers, two Class A buildings in South San Francisco, Calif.
High Street Realty Buys Chicago Industrial Portfolio for $86M
JLL’s Capital Markets team facilitated the transaction, which included 11 institutional-quality, value-add properties totaling nearly 1.2 million square feet.
How Are Driverless Cars Reshaping CRE?
Autonomous vehicles are expected to impact commercial real estate on several levels, from design to new development opportunities. Partner Engineering and Science’s Joe Derhake zeroed in on the extent of these effects.
Meridian Arranges $54M for New Pod Hotel
Clients Modus Hotels and Parkway Corp. will utilize the financing to develop Pod Philadelphia, an 11-story, 252-key micro-hotel.
Philly Sheraton Lands New Owner, Planned Makeover
The Buccini/Pollin Group acquired the 364-key property in the Old City district for almost $100 million. The Delaware-based company is set to renovate and rebrand the hotel.
City Furniture Signs 246 KSF Industrial Lease in Florida
The Park @ 429 in the Orlando MSA is scheduled for completion next month. The Fort Lauderdale-based home retailer is expected to open its new location this October.
Slate Office REIT Snags $191M Portfolio in Canada
The Toronto-based company purchased the 1 million-square-foot group of properties, located in Greater Toronto and Atlantic Canada, from Cominar Real Estate Investment Trust.
Unico Properties Sells Denver CBD High-Rise
Westport Capital Partners purchased the 28-story, 284,600-square-foot building. HFF represented the seller and secured the acquisition loan from ACORE Capital.