Mercedes-Benz Lends Name to JDS’s One Southside Park in Miami
CommercialCafe Blog
by Ioana Ginsac
2w ago
New York City-based real estate development group JDS Development recently announced its new partnership with German luxury and commercial vehicle automotive brand Mercedes-Benz. The arrangement lends the German brand name to JDS’s 67-story, mixed-use tower in Brickell, Miami. Located at 1 Southside Park, the project has been rebranded as Mercedes-Benz Places and promises an innovative merger of modern living spaces with innovative mobility concepts. The project calls for 200,000 square feet of premium Miami office space, in addition to a hotel and a residential component. JDS acquired the s ..read more
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Madison Realty Snags Distressed Queens Office Space in $80 Million Deal
CommercialCafe Blog
by Diana Sabau
2w ago
Developer and supermarket owner Jeffrey Wu has handed over a 100,000-square-foot office and retail building in Queens, N.Y., in an attempt to settle his bankruptcy case. The transaction, brokered by Newmark’s Adam Spies and Daniel O’Brien, was closed with an asking price of $796 per square foot. Madison Realty Capital’s Urian Yap acquired the property at 41-60 Main St. on February 7 for $80 million. The Flushing property, which houses tenants like Capital One Bank, was among several under mezzanine loans. Wu’s bankruptcy filing also lists a 99-unit Victoria Tower condo complex, Hong Kong Mar ..read more
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WeWork Renegotiates Lease at Downtown D.C. Location
CommercialCafe Blog
by Diana Sabau
3w ago
Coworking giant WeWork is navigating its bankruptcy restructuring with significant cost-cutting measures. The company has been renegotiating more than 60 leases across various cities, saving a whopping $1.5 billion in future rent payments. One such lease involved the 14-story Midtown Center in downtown Washington, D.C. Discussions with Carr Properties — the current owners of the property — revolved around rent reduction of its original 110,000 square feet within the building. In its bankruptcy filings, WeWork listed Carr Properties as one of its biggest unsecured creditors with some $3.6 mil ..read more
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North Signal & Fox Capital Ink Full-Building Lease at Imeson Commerce Center
CommercialCafe Blog
by Ioana Ginsac
3w ago
The owner of Imeson Commerce Center recently announced the signing of a full-building lease at the Northside Jacksonville industrial property. Formed of an affiliate of North Signal Capital LLC and an affiliate of Fox Capital Partners, the joint venture owner of the property at 1000 Imeson Park Blvd. leased the facility to Randolph, Mass.-based RoadOne IntermodaLogistics, a leading North American provider of intermodal trucking. Luke Pope, executive managing director at JLL, represented the owner in the lease negotiations. “1000 Imeson Park Boulevard is a great example of the type of buildin ..read more
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Onyx Forms New Partnership to Kick Off Redevelopment of Former New Jersey Merck HQ Campus
CommercialCafe Blog
by Ioana Ginsac
1M ago
Woodbridge, N.J.-based Onyx Equities, LLC (Onyx) recently announced its partnership with real estate investment and development firm Outshine Properties to serve the next phase of evolution for the NEST campus into a world-class biotechnology and life sciences hub. Located in Kenilworth, N.J., the campus was previously the global headquarters of healthcare company Merck Sharp & Dohme, LLC. Following its acquisition by Onyx and Machine Investment Group, LLC in 2023 in what was estimated to be one of the largest office and life sciences deals in New Jersey history, Onyx revealed plans to u ..read more
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Expert Insights: Elise Cuneo Talks Office Interior Design in 2024
CommercialCafe Blog
by Lorena Tivadar
1M ago
  Elise Cuneo, Interior Design Leader and Strategist for Unispace For the latest interview in our Expert Insights Series, we had the pleasure of speaking with Elise Cuneo, an interior design leader and strategist for Unispace, a global leader in workplace strategy, design, project management and construction. Cuneo is based in New York via Sydney, Australia. Her collaborative, concept-driven process delivers spaces where organizations can tell their brand story through design, while also supporting business and real estate objectives. She acts as a co-creator by working with clients g ..read more
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H&M Takes Last Anchor Space at Brickell City Centre
CommercialCafe Blog
by Ioana Ginsac
1M ago
Swire Properties USA — the U.S. real estate arm of multinational corporation Swire Properties — recently announced that it had secured a tenant for the last remaining anchor space in The Shops at Brickell City Centre (BCC). The company’s regional mall property will be home to global fashion leader H&M, which will occupy two levels and more than 25,000 square feet of Miami retail space. “Among the world’s leading retailers, H&M is an ideal and exciting addition to the dynamic Brickell City Centre shopping experience,” said David Martin, senior vice president at Swire Properties. “We a ..read more
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China Merchants Bank Extends Manhattan Office Lease at 535 Madison
CommercialCafe Blog
by Ioana Ginsac
1M ago
Chicago-based real estate firm Cresa recently announced that company principal Michael Goldman had successfully negotiated a lease renewal for the New York branch of China Merchants Bank to remain at its current Midtown East location. With the 15-year lease extension, the bank will occupy more than 43,000 square feet of Manhattan office space across three full floors (the 17th, 18th, and 23rd). Cresa Vice President, Barry Spagna, and Director of Consulting, Erik Sznip, worked with Goldman on behalf of the tenant. A CBRE leasing team of Vice Chairman, Brian Gell, and Executive Vice President ..read more
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Empire State Realty Trust Signs Full-Floor Tenant at 250 W. 57th St.
CommercialCafe Blog
by Lucian Alixandrescu
1M ago
The Empire State Realty Trust announced that it had added a new tenant to the roster at 250 W. 57th St. by signing a full-floor lease with Hanover Street Capital, a commercial real estate platform offering solutions for Deutsche Bank’s commercial real estate operations. Hanover is set to occupy a total of 12,622 square feet of class A office space in Manhattan. Located on Billionaire’s Row in the Times Square-Hell’s Kitchen office submarket, 250 W. 57th St. was initially built in 1921 and was once known as the Fisk Tire Building. After extensive renovations in 2017 — which also added a brand ..read more
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Top 30 Mid-Sized U.S. Cities for Green Commuting: Honolulu, Madison & Pittsburgh Lead the Way
CommercialCafe Blog
by Matthew Preston
1M ago
Key Takeaways: Honolulu topped the list due to high rankings in green commuting metrics, like the rates of carpooling, cycling and walking. Madison, Wis., secured the #2 spot with a strong emphasis on cycling, supported by dedicated bike infrastructure and sustainability initiatives. Pittsburgh claimed #3 due to a focus on walkability, showcasing its transformation from an industrial hub to a sustainable city. Jersey City, N.J., landed at #4, benefiting from its proximity to New York City, as well as its robust public transit infrastructure and commitment to reducing car dependency. As many ..read more
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