#office-market

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A billion square feet of new housing space to emerge in cities as America's office market faces a major crisis

The U.S. office market faces significant transformations, with many buildings likely to be demolished or converted due to high vacancy rates and shifting work patterns.

What office meltdown? Developers see a shortage of high-end space and are rushing to build it.

High-demand for high-end office spaces persists despite a downturn in the overall market, indicating a potential upcoming shortage in new quality office developments.

Oahu's office market 'showing signs of life' - Pacific Business News

Oahu's office market shows positive occupancy growth and resilience despite national challenges post-Covid-19.

A billion square feet of new housing space to emerge in cities as America's office market faces a major crisis

The U.S. office market faces significant transformations, with many buildings likely to be demolished or converted due to high vacancy rates and shifting work patterns.

What office meltdown? Developers see a shortage of high-end space and are rushing to build it.

High-demand for high-end office spaces persists despite a downturn in the overall market, indicating a potential upcoming shortage in new quality office developments.

Oahu's office market 'showing signs of life' - Pacific Business News

Oahu's office market shows positive occupancy growth and resilience despite national challenges post-Covid-19.
morevacancy-rates
#real-estate

Park Avenue landlords boast new leases after glowing Sixth Ave. report

Park Avenue's 277 Park Ave. is 98% leased with major lease deals by companies like Sumitomo Corporation and Arsenal Capital Management.
Major upgrades at 277 Park Ave. contributed to high tenant demand with rents ranging from $100-$120 per square foot.

Owner of 60 Wall Street makes risky bet with $250M revamp: 'Sink or swim for downtown'

60 Wall Street is crucial for revitalizing the Financial District's struggling office market amid high vacancy rates.

America's offices are about to see a wave of distress that could result in a billion square feet of fresh housing supply

Distress in the office sector may lead to fire sales, enabling conversions to apartments and increased housing supply.

Bloomberg widens footprint at 'P.J. Clarke's building' to boost sagging Midtown corridor

Bloomberg's lease expansion defies work-from-home trends, indicating commitment to physical offices in Midtown despite high vacancy rates.

Another Midtown office default shows refi pain persists

The Times Square Plaza jumbo loan faces maturity default due to financing struggles, highlighting challenges for office landlords post-pandemic.

LA County to take next step in $200M buy of Gas Company Tower

Los Angeles County is pursuing a $200 million purchase of the Gas Company Tower, representing a substantial investment in a struggling Downtown office market.

Park Avenue landlords boast new leases after glowing Sixth Ave. report

Park Avenue's 277 Park Ave. is 98% leased with major lease deals by companies like Sumitomo Corporation and Arsenal Capital Management.
Major upgrades at 277 Park Ave. contributed to high tenant demand with rents ranging from $100-$120 per square foot.

Owner of 60 Wall Street makes risky bet with $250M revamp: 'Sink or swim for downtown'

60 Wall Street is crucial for revitalizing the Financial District's struggling office market amid high vacancy rates.

America's offices are about to see a wave of distress that could result in a billion square feet of fresh housing supply

Distress in the office sector may lead to fire sales, enabling conversions to apartments and increased housing supply.

Bloomberg widens footprint at 'P.J. Clarke's building' to boost sagging Midtown corridor

Bloomberg's lease expansion defies work-from-home trends, indicating commitment to physical offices in Midtown despite high vacancy rates.

Another Midtown office default shows refi pain persists

The Times Square Plaza jumbo loan faces maturity default due to financing struggles, highlighting challenges for office landlords post-pandemic.

LA County to take next step in $200M buy of Gas Company Tower

Los Angeles County is pursuing a $200 million purchase of the Gas Company Tower, representing a substantial investment in a struggling Downtown office market.
morereal-estate

LA office market scraping bottom, bouncing back with new buyers

Los Angeles office values plunged due to remote work but may begin to recover as investors see opportunity.
Experts suggest a shift towards private investors could signal a recovery in the office market.

Canary Wharf owners' credit rating cut deeper into junk' territory

Canary Wharf's credit rating has been downgraded due to debt concerns and difficulties in attracting workers after the pandemic.
#commercial-real-estate

Alliance Bernstein: Office Space: Looking Past the Doom and

Americans may not completely abandon offices but will require modern, sustainable spaces with amenities to entice a return.

Council Post: Leveraging Technology To Effectively Market, Attract And Retain Tenants

The office market is experiencing a revival driven by increased tenant demand and the necessity for effective digital marketing strategies.

Plastic Surgeon Buys Beverly Hills Offices for $21M

A plastic surgeon with a large social media following has purchased an office building in Beverly Hills for $21.3 million.
The surgeon plans to build out half of the building as medical space and lease the rest to tenants.
Beverly Hills has seen several office deals trading for over $900 per square foot, indicating a strong market for office properties in the area.

Last year was bad for commercial real estate. 2024 could be worse.

Over $900 billion in commercial real estate loans due this year are a significant risk to regional banks and municipal finances.
Commercial real estate loan repayment challenges, especially in the office market, are expected to mirror the difficulties faced in 2023.

Big Santana Row office building in San Jose may soon be half-leased

One Santana West, a new office building in San Jose, is experiencing strong leasing activity and may soon be half-leased.
A major tenant has signed a letter of intent for a lease at One Santana West.

Alliance Bernstein: Office Space: Looking Past the Doom and

Americans may not completely abandon offices but will require modern, sustainable spaces with amenities to entice a return.

Council Post: Leveraging Technology To Effectively Market, Attract And Retain Tenants

The office market is experiencing a revival driven by increased tenant demand and the necessity for effective digital marketing strategies.

Plastic Surgeon Buys Beverly Hills Offices for $21M

A plastic surgeon with a large social media following has purchased an office building in Beverly Hills for $21.3 million.
The surgeon plans to build out half of the building as medical space and lease the rest to tenants.
Beverly Hills has seen several office deals trading for over $900 per square foot, indicating a strong market for office properties in the area.

Last year was bad for commercial real estate. 2024 could be worse.

Over $900 billion in commercial real estate loans due this year are a significant risk to regional banks and municipal finances.
Commercial real estate loan repayment challenges, especially in the office market, are expected to mirror the difficulties faced in 2023.

Big Santana Row office building in San Jose may soon be half-leased

One Santana West, a new office building in San Jose, is experiencing strong leasing activity and may soon be half-leased.
A major tenant has signed a letter of intent for a lease at One Santana West.
morecommercial-real-estate
from The Seattle Times
3 months ago

Back to working from the office or still fully remote? Share your story

Return-to-office mandates exist but are largely unenforced, highlighting a gap between employer expectations and employee compliance.

Hackman Capital Revises Vision for LA's Television City

Hackman Capital Partners scales back $1.25 billion Television City redevelopment plans from 1 million to 980,000 square feet, reducing office tower and building heights.
Shift in office market due to remote work prompts revisions; new design architect Foster + Partners brought in for updated plans.

Office tower planned for Hollywood gets new design and billion-dollar price tag

Office developer plans $1-billion Hollywood high-rise catering to entertainment industry
Renowned architect Norman Foster designs greenery-laden 'vertical campus' for new office tower

Big housing development could sprout at San Jose office property

A big housing development could replace an office building in San Jose due to lousy office market conditions.
The development could include around 250 residences according to project proposals.

The Building Spree That Reshaped Manhattan's Skyline? It's Over.

The Manhattan office construction boom is over, with only three large office towers currently being built in the city
Rising construction costs, high office vacancies, and a lack of large tenants have contributed to the slowdown in new office construction

Life sciences development a Chicago bright spot

Chicago's life sciences industry could in 2024 be one of the few bright spots in the city's struggling office market.

Salesforce Tower opens at Chicago's Wolf Point

Salesforce celebrates opening of its 57-story Chicago tower in a slumping office market.
The tower features collaborative spaces and 'Ohana floors for employees and nonprofit events.
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