News/Events
Barings Buys SoCal Grocery-Anchored Shopping Center for $66M
Investment management firm Barings has put down $66.2 million to acquire a fully leased grocery-anchored shopping center in Orange County, Calif. First Washington Realty sold the Village Center at Rose, a 118,876-square-foot retail property at 600-858 North Rose Drive in Placentia, Calif., CBRE announced Monday. The transaction is equal to about $557 per square foot.…
Holt Construction Hires Finance Executive Adam Canosa as President
National development firm Holt Construction has hired industry veteran Adam Canosa as president, Commercial Observer has learned. Canosa started his new role at the company headquartered in Pearl River, N.Y., on Oct. 19 after two years as a construction advisory principal at Grassi Advisors and over 20 years in the industry overall, according to Holt…
Driftwood Capital, Merrimac Ventures Land $145M for Waterfront Hotel in Miami
A venture led by Driftwood Capital and Merrimac Ventures has secured a $145 million loan to build a hospitality and retail-focused development along the Miami River. The construction financing from Centennial Bank covers the $350 million Riverside Wharf development, which will feature a 167-room hotel across two nine-story towers at 114 Southwest North River Drive,…
LMF Commercial Closing Its Doors: Sources
LMF Commercial has closed, Commercial Observer has learned. The lender, a Lennar subsidiary, announced the closure internally and started laying off professionals in its New York, Miami, Los Angeles and Las Vegas offices on Oct. 21, several sources said. Lennar officials declined to comment. LMF Commercial was founded in 2013 by Brett Ersoff and John…
BGO Transitions Its Name Back to GreenOak
BGO is changing its name yet again. The global real estate investment management and services firm merged with Bentall Kennedy in 2019 to become BentallGreenOak. It then truncated that name to BGO in 2024. Now, it’s switching gears back to GreenOak as part of another massive rebranding effort. Sun Life Financial, the firm’s parent company,…
Industrial Color Expands to 59K SF at Rudin’s 32 Avenue of the Americas
Industrial Color, a creative production company and network of production studios, has renewed and expanded its lease at Rudin’s Tribeca office property at 32 Avenue of the Americas, Commercial Observer has learned. The company, which has been a tenant at the Tribeca property for over 20 years, signed a 15-year renewal on the 46,638-square-foot space…
Extell to Buy $24M in Air Rights From Episcopal Church for 570 Fifth Avenue Tower
Gary Barnett’s Extell Development has nearly secured 87,000 square feet of air rights for its 570 Fifth Avenue office tower project. The rights currently belong to the Church of St. Mary the Virgin, a landmarked Episcopal church at 145 West 46th Street in Midtown’s Times Square neighborhood. A December 2025 purchase and sale agreement between…
Querétaro, Mexico’s Data Center Hub, Draws Projects Felt North of the Border
In north-central Mexico, less than three hours’ drive from Mexico City, Querétaro is humming. Not only with cultural energy — the state’s eponymous city is known for its UNESCO-recognized old town, Baroque monuments and corn tortillas — but also from a burgeoning cluster of whirring data centers, which are rapidly solidifying Querétaro as Mexico’s data…
Dolce & Gabbana Inks 21K-SF Office Lease at Feil’s 551 Fifth Avenue
Can you please spell Gabanna? Luxury Italian fashion brand Dolce & Gabbana is relocating its New York City office headquarters to the Feil Organization’s Midtown Manhattan office property at 551 Fifth Avenue, the landlord announced Monday. Dolce & Gabbana is taking 21,000 square feet at 551 Fifth Avenue, moving its headquarters from just across the…
