NYC’s Iconic Silvercup Studios Acquired by JV

Hackman Capital Partners and Square Mile Capital acquired the studio’s properties and operational components, and will work with the studio to further grow and develop the business.

       

source https://feeds.feedblitz.com/~/636217192/0/globest/new-york~NYC%e2%80%99s-Iconic-Silvercup-Studios-Acquired-by-JV/

Old Mission Expands Lease at 120 Broadway

Starting in April 2021, the multi-asset market-making firm will occupy nearly four times its previous footprint within the building.

       

source https://feeds.feedblitz.com/~/636194988/0/globest/new-york~Old-Mission-Expands-Lease-at-Broadway/

NYC Single-Tenant Retail Shows Signs of Distress

DBRS Morningstar found 14 CMBS loans totaling $467.4 million in New York City are delinquent or in special servicing.

       

source https://feeds.feedblitz.com/~/636088674/0/globest/new-york~NYC-SingleTenant-Retail-Shows-Signs-of-Distress/

W.P. Carey Completes $44M Industrial Sale-Leaseback

The REIT purchased two Midwest facilities, which are currently long-term net leased to a leading food manufacturer tenant.

       

source https://feeds.feedblitz.com/~/636063280/0/globest/new-york~WP-Carey-Completes-M-Industrial-SaleLeaseback/

New Jersey May Lose Wall Street’s Data Centers

A new proposal in the state legislature suggests a tax on financial transactions, which has prompted executives to look into relocation to other states.

       

source https://feeds.feedblitz.com/~/636054866/0/globest/new-york~New-Jersey-May-Lose-Wall-Street%e2%80%99s-Data-Centers/

Manhattan Relocations Down While Short-Term Leasing Rises

During the pandemic, leasing activity is down 70% from last year and tenants signing leases are favoring short lease terms.

       

source https://feeds.feedblitz.com/~/636054940/0/globest/new-york~Manhattan-Relocations-Down-While-ShortTerm-Leasing-Rises/

Financing Secured for NJ Industrial Development

J.G. Petrucci Co. Inc. and an institutional real estate investor plan to develop a 511,200-square-foot warehouse in Phillipsburg, NJ.

       

source https://feeds.feedblitz.com/~/635974408/0/globest/new-york~Financing-Secured-for-NJ-Industrial-Development/

Office Market Could Shed 145M Square Feet in the Next Two Years

Demand for office space has decreased 20% more during the pandemic than it did during the Great Financial Crisis.

       

source https://feeds.feedblitz.com/~/635916206/0/globest/new-york~Office-Market-Could-Shed-M-Square-Feet-in-the-Next-Two-Years/