The pandemic didn’t topple the retail real estate market in Los Angeles County, but it definitely left a mark. A new report found that occupancy remains 3 million square feet below where it was in the first quarter of 2020 …

Former Goldman Sachs Growth managing director Holger Staude has found a home for his new private equity firm. Springcoast Capital Partners is establishing its first New York City offices at 860 Washington Street, where it will sublet 4,743 square feet …

WorldShine Group, a senior care management company, has acquired The Humane Society of the United States’ 67,808-square-foot office building in Gaithersburg, Md.  A person close to the deal revealed that the building sold for approximately $20 million. Located at 700 …

The Federal Reserve continued its more than yearlong streak of interest rate hikes on Wednesday, bringing rates to their highest level since 2007, but also signaled a pause could be around the corner. The 25 basis point increase brings the …

Jorge Perez’s Related Group and Merrimac Ventures scored $94.2 million to build a condo tower geared toward short-term rentals at Miami Worldcenter, the mega-development in the city’s downtown, property records show.  The financing from Bank OZK will go toward building …

KC Engineering and Land Surveying engineered a deal for bigger offices at 7 Penn Plaza. The engineering consultants renewed its lease for another 10 years and will expand from 9,005 square feet to 12,788 square feet in the Garment District …

WeWork’s struggle to get its debt in order and remain traded on the New York Stock Exchange is reflecting poorly on its already ailing credit rating. Credit rating agency S&P Global Ratings previously gave WeWork a CC rating, which meant …

Tenants in rent-stabilized apartments could see rent increases as high as 7 percent for two-year leases, after New York City’s Rent Guidelines Board (RGB) initially voted for the changes at a chaotic Tuesday night meeting. The board approved a 2 …

The Jay Group has sealed $34.8 million of construction financing to build a multifamily development in Greenpoint, Brooklyn, Commercial Observer has learned. BHI, a U.S. division of Israel-based Bank Hapoalim, provided the loan for the developer’s  70-unit project at 210 …

Roughly 50 years after America first put a man on the moon, the European Union declared  an equivalent milestone.  “[The European Green Deal] is Europe’s man-on-the-moon moment,” announced European Commission President Ursula von der Leyen in 2019.  To really understand …

Circle F Capital and Rockfeld Group have secured $60 million to refinance their debt on 400 West 14th Street, a five-story mixed-use office and retail space in the heart of the Meatpacking District.  Goldman Sachs provided the financing. Newmark’s Jordan …

Brown Advisory is relocating its remaining office space from Chevy Chase, Md., as part of an expansion of its existing space at 1801 Pennsylvania Avenue in Washington, D.C., Commercial Observer has learned. The investment and strategic advisory firm leases 32,000 …

The Manhattan office leasing market continues to struggle with leasing numbers for the month of April, lagging even the low-tide monthly figures during the pandemic years, according to a new report from Colliers. Tenants leased 1.5 million square feet of …

London & Regional Hotels (L+R) has secured an extension for a commercial mortgage-backed securities (CMBS) loan on its beachfront Grand Cayman Marriott Resort property  in the Cayman Islands, Commercial Observer has learned.   The hotel was hit hard by restrictions put …

Drink it in, Southern California. A beverage manufacturer is expanding its footprint again in northern Los Angeles County. DrinkPAK has leased more than 193,000 square feet in the last two buildings in the final phase of the Center at Needham …

As the D.C. Council continues budget negotiations for fiscal year 2024, Mayor Muriel Bowser called on the members to pass a budget that would support D.C.’s Comeback Plan, a three-pronged plan for revitalizing the city. The thrust of the plan …

NY Bakery and Desserts found a sweet spot for a new Times Square flagship. The bakery signed a 10-year deal for 3,000 square feet at 1580 Broadway, which uses the alternate address of 2 Times Square, said tenant broker John …

Developer Joseph Kavana is looking for a partner to join Metropica, a mega-development in western Broward County that has struggled to get off the ground — in hopes of securing $250 million.  Billed as a “city within a city,” Metropica …

Empire State Realty Trust (ESRT) reported strong first-quarter financials Thursday during an earnings call, citing impressive quarterly increases in occupancy and leasing across its Manhattan office portfolio and improved attendance at the Empire State Building Observatory, the firm’s trophy asset.  …

Fernau LeBlanc Investment Partners, a Bethesda, Md.-based commercial real estate owner, has acquired Deer Park Center, four buildings totaling more than 170,000 square feet of office and flex space in Randallstown, Md. The price was not disclosed, but a person …

The doctor is in at 10 Grand Central. Telemedicine company Teladoc Health inked an eight-year deal to relocate its New York City offices to 7,000 square feet on part of the 16th floor of the 35-story building, according to landlord …

In our latest Commercial Observer podcast, Tom LaSalvia, a senior economist at Moody’s Analytics, joins Andrew Coen, finance reporter at CO, to discuss the impact of rising interest rates on commercial real estate and what the industry is looking for …

Vornado Realty Trust has opted to delay paying dividends on its common shares through the end of 2023, as it struggles with declines in the value of its commercial properties and the price of its stock. The real estate investment …

Executives at CBRE put a positive spin on disappointing first quarter financial results Thursday morning, arguing during an earnings call that the firm exceeded expectations in a challenging economic environment, despite the brokerage having an annual decline in net revenue, …

SL Green Realty has landed a $500 million refinancing for its 47-story office building at 919 Third Avenue, the landlord announced Wednesday. Credit Agricole and Aareal Bank led a six-bank syndicate to provide the three-year loan — with two one-year …

Florida’s legislative session is scheduled to wrap up the first week of May, and lawmakers are spending the final weeks hammering out a roughly $114 billion state budget.  It’s been a busy season for the lawmakers. With Republican majorities in …

A joint venture, led by David Martin’s Terra, has announced plans to buy a waterfront site near Downtown Miami for $1.225 billion in what could become one of the country’s largest land acquisitions. The 15.5-acre parcel — located at 1431 …

Meridian Capital Group laid off “approximately 5 percent” of its staff on Wednesday, including its senior managing director of public relations, according to a source. The source said the layoffs were largely due to the current economic market, and that …

L.A. Fitness wants to stop Equinox from flexing its muscle in West Palm Beach. The parent company of L.A. Fitness, Fitness International, filed a lawsuit in Palm Beach County Circuit Court earlier this month against Stephen Ross’s Related Companies, which …