CommercialCafe

The COMMERCIALCafé blog serves as an essential hub for professionals in commercial real estate (CRE), business owners, and journalists interested in various aspects of the industry. Our blog features a wide range of articles, including quarterly and annual reports on office sales. We also have several series exploring topics such as commercial property taxes, upcoming construction projects, innovative office development, and analyses of the industrial and retail sectors. Our team of writers keeps readers informed about the latest industry news, research studies in commercial real estate, leading investment opportunities, and insights into both established U.S. markets and emerging areas. All of our research is performed and compiled by our in-house analysts and writers. We primarily rely on data gathered by our sister companies, Yardi Matrix and PropertyShark, along with information from public and governmental sources, as well as other trusted third-party providers. The high quality of research and articles published on COMMERCIALCafé has led to frequent citations in both national and international media outlets.

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Trio Manufacturing Moves Headquarters Following $20 Million Expansion

2 weeks ago | commercialcafe.com | Diana Sabau

Trio Manufacturing, a company specializing in aircraft engineering and manufacturing for both commercial and military sectors, is significantly expanding its operations in the South Bay. The company is relocating its headquarters and manufacturing plant from El Segundo, Calif., to a 123,200-square-foot industrial facility located at 17006 S. Figueroa St. within the Harbor Gateway area near Gardena and Carson, Calif. This move represents a tripling of Trio’s plant size.
Santander Stays Put: 7-Year Renewal at 437 Madison Ave.

3 weeks ago | commercialcafe.com | Diana Sabau |With years

Santander Bank has opted to remain at its current U.S. headquarters, located at 437 Madison Ave. The Spanish financial institution has finalized a seven-year lease renewal for 191,667 square feet, encompassing floors five through 10 of Sage’s 40-story office tower in Midtown East, with the added provision of a lease extension option. While the precise asking rent remains undisclosed, the landlord indicated that base units within the property were listed between $79 and $84 per square foot.
Penzance Expands Industrial Portfolio With $55 Million in Northern Virginia Purchases

1 month ago | commercialcafe.com | Diana Sabau |With years

Penzance has expanded its holdings by purchasing a portfolio of six industrial properties in Manassas, Va., and has subsequently engaged JLL to manage the leasing of available space. The transaction was facilitated by a JLL Capital Markets team consisting of Bill Prutting, Craig Childs and Chris Dale.
Global Holdings Locks In 31,000-Square-Foot Lease Expansion at 99 Park Ave.

1 month ago | commercialcafe.com | Diana Sabau |With years

Garan, the Berkshire Hathaway-owned children’s apparel company, is significantly expanding its New York City presence, effectively doubling its office space in Manhattan. Having outgrown its current headquarters at 200 Madison Ave. (for which it had originally signed a decade-long agreement in early 2022), Garan is now leasing the entirety of the 31,663-square-foot sixth floor at 99 Park Ave., a property managed by Global Holdings Management Group.
Newmark Signs Renewal With SL Green, Doubles Footprint at 125 Park Ave.

1 month ago | commercialcafe.com | Diana Sabau |With years

SL Green, the dominant office landlord in Manhattan, has finalized a 15-year, 144,418-square-foot renewal and expansion lease with Newmark at 125 Park Ave. Newmark’s history with the building dates back to the mid-1990s, when it initially occupied only 47,000 square feet. Then, in 2014, it significantly expanded its presence to bring Newmark’s footprint to more than 133,000 square feet. This most recent expansion further increases its occupancy to a total of 184,239 square feet within the property.
Amazon Partners With WeWork to Expand Footprint at Five Manhattan West

2 months ago | commercialcafe.com | Diana Sabau |With years

Amazon and WeWork are partnering again, this time at Five Manhattan West in Hudson Yards. The coworking firm has executed a 112,265-square-foot sublease at the Brookfield Properties-owned office building for the e-commerce giant to secure space that was previously held by the Interpublic Group of Companies. A 16-story office building, Five Manhattan West also houses tenants like financial services company Betterment and J.P. Morgan Chase.
Fisher Brothers Secures New, 10-Year Loan for 299 Park Ave.

2 months ago | commercialcafe.com | Diana Sabau |With years

Fisher Brothers has secured a $500 million refinancing loan for its recently completed renovation of 299 Park Ave., its Midtown office property and headquarters. Citi Group and J.P. Morgan are providing this new, 10-year mortgage, which exceeds the building’s previous loan by more than $100 million, according to reports from Crain’s. The refinancing was arranged by Newmark’s Jordan Roeschlaub, Jonathan Firestone and Nick Scribiani.
Hyundai America Inks New Lease for Orange County Warehouse

2 months ago | commercialcafe.com | Diana Sabau |With years

Hyundai America Technical Center, the research and development arm of Hyundai Motor Company, has leased a 91,600-square-foot distribution warehouse at LogistiCenter at Irvine II in Irvine, Calif. The lease was brokered by Ross Bourne, Keith Black and Nick Spatafore of CBRE, who represented the landlord, Dermody Properties. This new facility, located at 2 Sterling in Irvine, is expected to open in the coming months.
Teladoc Health Expands & Moves Headquarters to 10 Grand Central

2 months ago | commercialcafe.com | Diana Sabau |With years

Teladoc Health, a leading provider of virtual health care services, has renewed and expanded its lease at Marx Realty’s 10 Grand Central. The company doubled its office space to 15,000 square feet in a 10-year agreement. This move coincides with Teladoc Health’s relocation of its corporate headquarters from Purchase, N.Y., to New York City. A JLL team comprised of Mitchell Konsker, Simon Landmann, Carlee Palmer and Thomas Schwartz represented Marx Realty.
No-Fault Group Expands HQ at New Coral Gables Location

Jan 16, 2025 | commercialcafe.com | Diana Sabau |With years

The No-Fault Group — an attorney referral service that specializes in connecting victims of various slip and fall; workplace; and boating accidents with attorneys and medical providers — is expanding its presence in Florida with a move to a new headquarters in Coral Gables. The company signed a 21,806-square-foot lease at 2990 Ponce that will enable it to relocate from its current offices in Doral, Fla.