Northeast
CommonGrounds Makes 1st Philadelphia Foray
The flexible office startup inked a 62,461-square-foot lease across two floors in a Center City office tower, as part of a nationwide growth spree. Shorenstein Properties owns the building.
CleanCapital, CarVal Acquire 75MW Solar Portfolio in NJ
Dubbed Olympic, the 15 facilities were acquired from KDC Solar. Off-takers for these projects include Fortune 100 companies as well as local governments and institutions.
Lightstone Lands $70M in EB-5 Funding for Manhattan Hotel
On track for a September opening, the property is the third Moxy-brand hotel in Manhattan developed by Lightstone in partnership with Marriott.
Nation’s Largest Offshore Wind Agreement Winners
Empire Wind and Sunrise Wind development projects of Equinor, as well as Bay State Wind—a joint venture of Ørsted and Eversource Energy—are slated for completion by 2024.
JV Buys Connecticut Office for $34M
Rubenstein Partners sold a 91,000-square-foot property, located within the six-building Shippan Landing waterfront office campus in Stamford. The asset serves as Vineyard Vines’ headquarters.
Manhattan Office Report – Spring 2019
Although more than 14,600 professional and business services jobs were added in the metro, the financial activities sector lost 1,500 positions due to industry restructuring and business consolidations.
Everest Re Leases 315 KSF in Northern New Jersey
The reinsurance firm will relocate its U.S. headquarters to the Warren Corporate Center. Citigroup is currently in the process of moving out.
Boston Mixed-Use Lands $315M Construction Loan
Madison Realty Capital will provide the financing, while Cain International will contribute most of the equity for the $400 million Raffles Hotels & Resorts tower in the Back Bay neighborhood.
Upstate NY Mall Changes Hands for $30M
Douglas Development Corp. purchased the 961,800-square-foot shopping center in a suburb of Buffalo, with plans to revitalize and rebrand the struggling asset. The deal included an adjacent Wegmans grocery store.
Extra Space Storage Breaks Ground in NJ
Homestake Capital and Harvestate Group have started construction on a 595-unit self storage asset in Winslow, N.J. The facility is scheduled for completion by early 2020.