News/Events
Mesa West Provides $62M Refi for Silicon Valley Office Property
LBA Realty has secured $61.5 million to refinance a 125,000-square-foot Class A office property in the Silicon Valley town of Sunnyvale, Calif., Commercial Observer can first report. Mesa West provided the debt, while the JLL Capital Markets team of Kevin MacKenzie, Peter Thompson and Spencer Bergthold arranged the transaction. Hoony Shin, vice president at Mesa…
Takenaka Under Contract to Buy One Broadway for $170M
Rockwood Capital and Midtown Equities will soon be saying “Sayonara” to their trophy office building at 1 Broadway. Japan’s Takenaka Corporation is now under contract to buy the property for $170 million, sources familiar with the transaction told Commercial Observer. Newmark’s Marcella Fasulo, Adam Spies, Willis Robbins, Adam Doneger and Josh King negotiated the sale. …
JLL Promotes Angela Gentry to Market Lead for New York
Angela Gentry, an industry leader with two decades of real estate experience, has been promoted at JLL for the second time this year, Commercial Observer has learned. Gentry will serve as the firm’s new market lead for New York. Gentry joined JLL in 2022 in a role that was created specifically for her: executive managing…
Amazon’s Same-Day Delivery Expansion Reignites Demand for Last-Mile Logistics
When Amazon makes moves in the delivery business, the entire retail industry tends to reorient itself around the e-commerce giant. So, when a September report from Business Insider revealed preliminary plans for Amazon to embark on a “massive blitz in same-day delivery” with a proposed expansion of facilities code-named Project Mercury, industrial real estate took…
Real Estate Operating System HqO Launches AI Platform for Workflows, Data
HqO, a real estate operating system for commercial owners and operators, announced Tuesday it has launched REX, an AI platform for data and workflows across commercial portfolios. Built on HqO’s Digital Grid, which the Boston-based company claims is the industry’s first actionable portfolio-wide ontology for commercial real estate, REX acts on property and tenant scores…
Fintech Firm Ramp Adds Another 175K SF at 28-40 West 23rd Street
Financial technology firm Ramp has scaled up its 28-40 West 23rd Street operations for the second time this year. The firm secured another 175,000 square feet at Williams Equities’ Flatiron District complex, Commercial Observer has learned. The long-term lease expansion comes on the heels of a 153,300-square-foot addition inked in March — one of Manhattan’s…
CloudHQ CEO Hossein Fateh On What Could Curb the Data Center Boom
It’s been a — mostly — great time to be a data center developer. The market was already on the upswing when the rise of artificial intelligence companies kicked that into overdrive by clamoring for server space to run their models. In the first half of the year, the United States added a record number…
AI Boom Keeps Data Center Supply Chains Stretched To The Breaking Point
Data center growth faces delays due to persistent supply chain shortages, impacting project timelines and costs.
Prism Scoops Up Largest Hotel Chain In The Netherlands
The Fletcher deal marks the second transaction by Sunday PropTech in the Netherlands in two months, following its purchase of a stake in Sircle Collection.
