Northeast
Tiffany & Co. to Consolidate in 260,000 SF at 200 Fifth Avenue
Tiffany & Co. just signed a deal to occupy 260,000 square feet of office space in the jewel of a building at 200 Fifth Avenue in Manhattan’s Flatiron District. The new 15-year lease agreement with property owner L&L Holding Co. will allow Tiffany to unite employees at the company’s three headquarters locations under one roof.
SL Green to Shell Out $193M for Manhattan’s 600 Lexington
SL Green Realty Corp. is about to pump up its enviable Manhattan office portfolio with the addition of the 303,500-square-foot tower at 600 Lexington Ave. While not one of those highly anticipated “fire sale” deals that never quite materialized in the commercial real estate market, it is still a good buy.
Richards Barry Joyce Brokers 100,000 SF Lease Renewal for TA Associates
Commercial real estate advisory firm Richards Barry Joyce & Partners LLC said Tuesday that it represented TA Associates Realty in a 100,884 square-foot lease renewal with Dynagraf, Inc. in Canton, Mass.
Higher Vacancy, Lower Rents in Greater Boston Office Market
Optimism mixed with some glum news for the Greater Boston office market made itself apparent in Richards Barry Joyce & Partners’ OfficeSTATus report for Spring 2010.
Start Spreading the News: Big Apple Rents Up, Availability Down
Even the famously resilient Manhattan real estate market has taken a beating during the recession, but the bruises are healing and things are starting to look up. That’s according to FirstService Williams, which is becoming the New York-New Jersey-Connecticut hub of Colliers International.
Trio Buys Majority of Fire Island Commercial District for $17M
Famed gay community destination Fire Island Pines, N.Y., has seen its largest transaction in history. Investment group FIP Ventures has bought the vast majority of Fire Island commercial property and establishments for $17 million.
Parker Takes Reins as Regional Manager for two Marcus & Millichap Offices
J.D. Parker has been promoted to regional manager of Marcus & Millichap’s Manhattan and New Haven offices.
Fitch Says Silverstein in “Imminent Default” on $325M Loan Balance
A $325 million loan balance on developer Larry Silverstein’s property, 575 Lexington Avenue in Manhattan, was transferred to special servicing earlier this week, which Fitch Ratings says is due to imminent default.
Mass. State Agency Forsakes Boston for Suburbs with 114,000-SF Lease
Acting through its Division of Capital Asset Management and Maintenance, the Commonwealth of Boston has signed a lease with Griffith Properties L.L.C. for the Office of Health and Human Services (HHS) to occupy approximately 114,500 square feet at the HarborSouth Tower in Quincy, Mass.
Economy Watch: Walgreens Goes New York
Dearfield, Ill.-based Walgreen Co., owner and operator of over 7,100 drug stores nationwide, is buying its way into the New York City metro market in a huge way with the purchase of Duane Reade, whose presence in the Big Apple is near-ubiquitous.