Goldman Sachs Provides $102M Loan on Tucson Retail Center Acquisition
Town West Realty, HSL Properties and Iridius Capital have secured $102 million in acquisition debt from Goldman Sachs to buy a sprawling retail center in Tucson, Ariz., Commercial Observer has learned....
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Landlords Board Up Stores as Soho Recovers From Looting
The morning after protests turned violent in parts of New York City, landlords across the city boarded up the windows of their retail stores in anticipation of more unrest. On major shopping strips...
View ArticleAllianz Teaming Up With Related in Its $2.2B Acquisition of 30 Hudson Yards
Related Companies has entered into contract to buy and lease back WarnerMedia’s office space at 30 Hudson Yards for approximately $2.2 billion, the landlord announced. The media conglomerate will...
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The Longest Yards: Hudson Yards’ History From Barren Land to Megadevelopment
Decades of planning and years of construction finally culminated last week when the massive $25 billion, 28-acre Hudson Yards opened its first phase, taking over one of the final large parcels of empty...
View ArticleChurchill Secures $35M Financing for Newly Acquired Garment District Lot
New York City-based private equity fund Pembrook Capital Management has lent $35 million against Churchill Real Estate Holdings‘ retail construction project at 259-261 West 34th Street in the Garment...
View ArticleSweetgreen Is Sweet on Hudson Yards, With New Lease for Lots of Green
Popular fast-casual salad and grain bowl chain Sweetgreen has sealed a deal at 10 Hudson Yards, Commercial Observer has learned. The chain has taken 2,000 square feet in a 10-year deal (with options)...
View ArticleGuardian Life Insurance Subleases 148K SF From Coach at 10 Hudson Yards
Guardian Life Insurance Co. of America has agreed to sublease more than 148,000 square feet of space from Coach Inc. at 10 Hudson Yards on Manhattan’s Far West Side, the luxury handbag retailer...
View ArticleGuardian Life Taps C&W’s Harmon and Spies to Flip 7 Hanover Square
Guardian Life Insurance Company of America has tapped a Cushman & Wakefield team led by Douglas Harmon and Adam Spies to market its headquarters building at 7 Hanover Square in the Financial...
View ArticleFour Pieces of Advice for Landlords in Denial About the State of Retail
Landlords, as New York City retail heads for a big fall, it’s time for you to face some hard truths. We need to have a serious conversation about how you’re going to get through this downturn without...
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Large Vacancies Loom in Midtown as Tenants Relocate to Downtown and Far West...
Office tenants seeking large blocks of space are abandoning Midtown for trendier neighborhoods and newer buildings, driving up vacancy rates at some of the city’s biggest office towers. Law firms,...
View Article5 Things That Make the New Coach Store Awesome
“I wanted people to be able to come here and discover new things about Coach,” said Stuart Vevers, the creative director of Coach, “but I also felt it was important that people could express their...
View ArticleDowntown Flushing to Get First New Movie Theater in 30 Years at 1.2M-SF...
Developers F&T Group and SCG America plan to add a movie theater, Asian-style food hall and high-end international fashion retailers into its 1.2-million-square-foot project in the Flushing section...
View ArticleAllianz Bags Coach’s Share of 10 Hudson Yards for $420M
Allianz SE has purchased a major stake in 10 Hudson Yards, the first of three major office buildings that Related Companies and Oxford Properties Group are developing on the Far West Side, the...
View ArticleThor Selling 693 Fifth Avenue at Four Times 2010 Price [Updated]
Commercial Observer has learned that Thor Equities‘ Midtown office and retail property 693 Fifth Avenue between East 54th and East 55th Street, is in contract for $525 million, almost four times what...
View ArticleA Richard Experience: For CBRE’s Richard Hodos, Retail Is Changing From...
Richard Hodos went from being a high-six-figure-a-year broker prior to 2013 to a seven-figure-a-year broker with headline-grabbing deals for Microsoft and Ralph Lauren, both in 2014, as well as...
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Climate Change: It’s No Longer a Landlord’s Market. Behold the Power of the...
Just how eager have some landlords become to get vacant space rented? Consider this: One landlord is offering brokers the chance to win a Porsche if they bring a “qualified tenant” to look at office...
View ArticleThe Next Hot Submarket?
Human nature keeps us searching for the Next Big Thing. And when it comes to New York real estate, Lower Manhattan certainly comes to mind based on the dramatic changes underway. But there is another...
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Neiman Marcus Negotiating Hudson Yards Deal
Dallas-based department store Neiman Marcus is reportedly negotiating a deal for a New York flagship store at Hudson Yards. The New York Post reported that the upscale retailer is in talks with Related...
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The House That L’Oreal Built
Back in 2011, Coach agreed to pay a reported $750 million for its 740,000-square-foot global corporate headquarters in Related’s South Tower at Hudson Yards. SAP Americaand L’Oréal USA concurrently...
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Related Hires CBRE’s Stephen Winter
On the heels of his inclusion in The Commercial Observer’s “30 Under 30” list last month, CBRE’s Stephen Winter is bouncing over to Related Companies as its new vice president of commercial leasing,...
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