News/Events
Miami Design District Owner Revives Office Project With BH3
A dormant office project within the Miami Design District luxury mall is being resurrected with BH3 Management as a partner and about 40 percent more space. The project, called the Ursa, will feature 250,000 square feet of office space and 15,000 square feet of ground-floor retail space at 30 Northeast 39th Street, facing North Miami…
Coworking Firm Nomadworks Inks 34K SF at Rosen’s 122 West 27th Street
Coworking operator Nomadworks has secured a new location in Manhattan’s Chelsea neighborhood. The 33,783-square-foot lease at 122 West 27th Street establishes Nomadworks’ fourth New York City location roughly two blocks west of Madison Square Park. The future coworking space will span the entire ninth, 10th and 11th floors of the Rosen family’s 12-story office building,…
L.A. Office Leasing Hits Highest Level Since 2019
Los Angeles County office leasing climbed to its highest level since 2019 during the third quarter in another sign that the market is slowly stabilizing. Tenants signed about 4 million square feet of office leases in July, August and September, up 15 percent from a year ago and 0.7 percent from the second quarter, according…
Baltimore Organizations Line Up Financing for Stalled Housing Projects
Maryland city and state officials are looking to the public sector to turn back the clock on widespread urban decay in Baltimore. With the city and state already providing $1.2 billion, the Greater Baltimore Committee (GBC) is looking for an additional $100 million to help finance struggling real estate projects through a “funders’ consortium,” the…
ACORE Lends $71M on San Diego-Area Industrial Development
North Palisade Partners has sealed $71.25 million in acquisition and construction financing to develop an industrial project in the San Diego region, Commercial Observer has learned. ACORE Capital supplied the loan for North Palisade Partners’ ground-up construction of the Palisade Santee Commerce Center in Santee, Calif. North Palisade Partners acquired the 13.4-acre infill site at…
South Beach’s Cameo Theater Could Reopen With Romain Zago Concept
Nightlife operator Romain Zago wants to reopen the historic Cameo Theater in South Beach seven years after its nightclub shuttered. Zago, who made a name for himself owning the nearby Mynt Lounge nightclub, has filed plans to turn the Art Deco theater at 1445 Washington Avenue into a 466-seat restaurant and lounge. The plans call…
Firm Managing Michael Dell's Fortune Takes $1B Swing At Senior Housing
BDT & MSD purchased a majority stake in Sunrise Senior Living, the first investment in the sector for the luxury-focused operator.
Italian Restaurant Casa Serra to Open at 227 Front Street in South Street Seaport
Lower Manhattan’s South Street Seaport will be living la dolce vita with its latest restaurant lease. Casa Serra, a sister restaurant to East Village eatery House of Pasta, has inked a 2,824-square-foot lease at the Durst Organization’s 227 Front Street, the landlord announced Tuesday. The 15-year lease has an asking rent of $100 per square…
Arad Holdings Buys Financial District’s 70 Broad Street at Steep Discount
Arad Holdings has paid $9.35 million to buy the landmarked American Bank Note Company Building at 70 Broad Street in Manhattan’s Financial District, Commercial Observer has learned. It’s a steep discount from both the $88 million the five-story property originally hit the market for in 2016 and the $20 million former lender Wilmington Trust paid…
