Category : Office Market

Office Market

Bertelsman Building share offered for sale

REW
by REW1322
A nearly half-billion dollar slice of the Bertelsmann Building is being offered for sale. The owners — affiliates of EDGE Fund Advisors and HSBC Alternative Investment Limited — have tapped Newmark Knight Frank’s (NKF) New York Capital Markets team to offer for sale a 48 percent equity interest in the...
Deals & DealmakersFeaturedOffice Market

Altice USA move, consolidation drives L.I. office sublease market

REW
by REW3157
Cable and internet provider Altice USA’s office shuffling in Nassau County headquarters continues to drive up Class A office subleasing availability in Long Island. After acquiring Cablevision last year, Altice has gradually consolidated its operation on the, moving some additional functions into its Bethpage headquarters and relocated other employees to Long...
Blackstone to put Five Bryant Park back on market after signing new tenants
FeaturedOffice Market

Blackstone to put Five Bryant Park back on market after signing new tenants

REW
by REW1618
Blackstone Group is preparing to put Five Bryant Park back on the market. After testing the waters last summer, the investment firm is ready to once again seek a buyer for the 682,000 s/f trophy, also known as 1065 Avenue of the Americas. Paula Chirhart, Blackstone’s vice president of external...
FeaturedOffice Market

City office workers go remote as Storm Stella strikes

Linda O'Flanagan
by Linda O'Flanagan1744
After New York City virtually shut down in preparation for storm Stella, the city ended up dodging the brunt of the blizzard. Schools, offices, businesses and most public transit shut on Tuesday as New York City braced for a blizzard meteorologists expected to be historic in terms of snowfall. A...
Now trending: Midtown’s big block delta
FeaturedOffice Market

Now trending: Midtown’s big block delta

REW
by REW1332
Tenants are eschewing the traditional Midtown business corridors and heading out West and down South. A report by Newmark Grubb Knight Frank (NGKF) found that companies are increasingly seeking out other corridors instead of Midtown, leaving a glut of supply in the once-hot area. In the first quarter of 2016,...
CRE experts see strong suburbs market, financial market volatility
Office Market

CRE experts see strong suburbs market, financial market volatility

REW
by REW1269
Adapting to shifting demographics and investing in non-traditional opportunities were some of the key issues addressed by a panel of commercial real estate leaders at NAIOP New Jersey’s Annual Meeting and Commercial Real Estate Outlook. Held at the Short Hills Hilton, more than 300 industry professionals attended the event, which...
Another solid year of office leasing for in demand New York
Office Market

Another solid year of office leasing for in demand New York

REW
by REW1226
The new baby may be getting all of the attention, but the old standard Midtown is still strong, according to multiple year-end reports. “Midtown finished the year very strong,” Frank Wallach, senior director in the research group of Colliers told Real Estate Weekly while discussing how the neighborhood had the...
BHN Associates recieves $59M financing for NJ’s Two Tower Center Boulevard
Deals & DealmakersOffice Market

BHN Associates recieves $59M financing for NJ’s Two Tower Center Boulevard

REW
by REW3954
Cushman & Wakefield announced that it served as the exclusive advisor to an affiliate of BHN Associates LLC in arranging $58.75 million of acquisition financing secured by Two Tower Center Boulevard. The property is a 23-story class-A, institutionally maintained office building located in East Brunswick, New Jersey. The three-year financing...
Recruitment firm Atlantic Group signs lease at 19 West 34th
Deals & DealmakersOffice Market

Recruitment firm Atlantic Group signs lease at 19 West 34th

REW
by REW1129
The Atlantic Group, a recruitment consulting company that serves professionals across a variety of industries, has signed a long-term lease at 19 West 34th Street. The firm will expand from 4,900  s/f at 8 West 38th  Street to a 10,537 s/f space on the eighth floor at the boutique office...
Deals & DealmakersOffice Market

Pharma giant Valeant expands to 620,000 s/f at SJP Corporate Center

REW
by REW1104
SJP Properties announced that Valeant Pharmaceuticals International, Inc. has doubled the size of its office space at Somerset Corporate Center in Bridgewater, NJ, having signed a long-term, 620,000 s/f lease for the entirety of two buildings within the master-planned business center. The transaction is one of New Jersey’s largest office...