Manhattan Clocks Most Active Quarter For Office Leases Since 2019
The first quarter's 12.2M SF of office leases pushed office availability down to 17.7% from 20.1% a year ago.
The first quarter's 12.2M SF of office leases pushed office availability down to 17.7% from 20.1% a year ago.
'I cannot believe we were getting 9.5%-10.5% for credits like that,' Brill said on the podcast.
BG Ventures and ELV Associates purchased the property at 2101 L St. NW, the value of which JBG had written down last quarter.
Capitol Crossing Advisors cited a confluence of market conditions, including a lack of demand for the project’s 1M SF of delivered office space.
Gemini signed a lease for an office at Sterling Bay's Wynwood building.
The assessed value of an office on Spring Garden Street was chopped in half after a revision.
A spate of major occupier moves could leave more secondary space on the market and has raised concerns among banks over covenants, Grant Thornton has warned.
Houston office market leasing transaction volume was down in Q3, but so was overall availability.
Owners who have had trouble capitalizing deals may be able to do more of them this year, said Dan Arends, principal and vice chair at Colliers.
Stonelake Capital Partners plans to break ground early next year on a 17-story office building in its Park Place | River Oaks development.
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