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“Even the most traditional companies are seeking more progressive and collaborative space,” says JLL's Scott Homa.
The 15 corridors that registered rent declines was the highest number on record for the REBNY retail report since its inception 18 years ago.
Century City has single-digit vacancy rates and rising rents, compared to Downtown Los Angeles' 20% vacancy rates and several full floor options.
The developments will provide more than 1,400 housing opportunities in 12 counties.
The nonprofit organization uses tax-free bonds to purchase housing for destitute veterans.
Restaurant and entertainment tenants have been leading retail leasing activity, but strong apparel sales are changing the dynamics.
With the closing of this acquisition, GNL has closed 18 acquisitions for $393 million this year.
The fashion designer will keep its global headquarters at 650 Madison Ave.
The immigration law firm launched its New York City presence, opening an office in Midtown Manhattan's Times Square.
With more than 1 million square feet of leasing demand projected across the Trophy and Class A market over the next 12 months, quality large block options will begin to decline, JLL predicts.