NEW YORK CITY-A technology firm that has hit it big providing instant messaging services to corporate clients convinces its Midtown building owner to nullify its 10-year lease. Potential rent savings add up to $24 million.
BOSTON-A string of apartment complexes comprising 14 properties located across six states is financed locally for $225 million and bought by a joint venture between a Colorado-based REIT and an institutional investor.
NEW YORK CITY-Two San-Francisco-based healthcare technology firms lease space in or near Philadelphia. A care-management systems service takes 21,806 sf of expansion space at the University Science Center and a software company signs a renewal on its 48,074-sf Malvern space.
NEW YORK CITY-Lower Manhattan, still in siege mentality, will rebuild. A newly released study suggests that while the damage is staggering, Downtown remains a force to be reckoned with.
NEW YORK CITY-Large companies tend to jump more readily than smaller firms into the build-to-suit waters when contemplating new industrial facilities. Industry experts say that the ability to plan, a luxury many smaller concerns lack, keeps them in the spec end of the pool.
NEW YORK CITY-A local REIT with a minor interest in a Penn Station-area office tower spends $29 million to bring its stake up to 49.9% and secures an $85 million mortgage on the property at the same time.
NEW YORK CITY-A local REIT with a minor interest in a Penn Station-area office tower spends $29 million to bring its stake up to 49.9% and secures an $85 million mortgage on the property at the same time.
NEW YORK CITY-Insignia/ESG releases its list of tenants placed since the World Trade Center attacks. WTC-related placements total roughly 1.6 million sf and a 322-million sf deal that was already in the works has also been completed.
NEW YORK CITY-The local REIT unloads its entire portfolio of 53 garden-apartment communities to a private investment group. Proceeds will be used to pare down existing debt.
NEW YORK CITY-Several first mortgage loans secured by office buildings in the area are sold on behalf of a local insurance association. Buyer is a major savings bank.