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Transit Access Drives Office Demand Near Penn Station Despite Conditions

Major League Soccer and Robinhood anchor leasing surge near Penn Station as transit access outweighs neighborhood reputation in Manhattan office market. The post Transit Access Drives Office Demand Near Penn Station Despite Conditions appeared first ...

Control Disputes Derail Rescue Bids for Distressed Asian Developers

Blackstone abandoned a $4 billion New World Development deal after the Hong Kong developer refused to hand over control to the US investment firm. The post Control Disputes Derail Rescue Bids for Distressed Asian Developers appeared first on Propmodo...

Universities Build Revenue Streams Around Stadiums With Mixed-Use Developments

Wake Forest, Tennessee and Iowa State are building mixed-use districts near stadiums to generate millions in new revenue amid rising player compensation costs. The post Universities Build Revenue Streams Around Stadiums With Mixed-Use Developments ap...

Brokers Who Assembled the Impossible Take Home REBNY’s Top Honors

REBNY's 82nd Annual Awards honored Savills, CBRE and Cushman & Wakefield for deals requiring creative problem-solving and years-long execution. The post Brokers Who Assembled the Impossible Take Home REBNY’s Top Honors appeared first on Pr...

Private Equity-Backed Proptech Firm Cuts 200 Jobs, Cites AI Adoption

MRI Software cuts 200 jobs in Ohio, citing AI adoption as private equity owners prepare for a potential $10 billion sale. The post Private Equity-Backed Proptech Firm Cuts 200 Jobs, Cites AI Adoption appeared first on Propmodo.

Missouri Funds Clear Path for Demolishing Vacant Buildings Ineligible for Federal Aid

St. Louis uses $10 million in state funds to demolish 120 tornado-damaged properties ineligible for federal relief, targeting vacant and condemned buildings. The post Missouri Funds Clear Path for Demolishing Vacant Buildings Ineligible for Federal A...

WareSpace breaks into LA Mid-Counties market with $16M Santa Fe Springs buy

WareSpace is doubling down on industrial space in Southern California amid a wider market squeeze. The Maryland-based developer acquired an 82,000-square-foot industrial property at 13711 Freeway Drive in Santa Fe Springs for $15.8 million, L.A...

Pratt validated as threat in mayor’s race as DSA-LA recommends Raman

After months of remaining mum on support in a race involving two Progressive candidates, the Los Angeles chapter of the Democratic Socialists of America quietly muscled its way into the mayoral primary. The group’s entry into a race that’s been a...

Jamison lands $60M construction financing on Koreatown office

Jamison secured $60 million in construction financing on an office building at 3424 Wilshire Boulevard in Los Angeles’ Koreatown, records dated late April reveal. The firm’s founder Dr. David Lee signed the documents, which appear to be for ano...

LA leads nation in coworking space as traditional office demand plateaus

Los Angeles’ office market may still be grappling with sluggish leasing and elevated vacancy, but coworking operators are continuing to bet on the city’s appetite for flexible space. The metro area added 13 coworking locations in the first quarte...

Tracy Tutor latest in real estate to offer boost to Spencer Pratt’s mayoral campaign

Add Compass agent Tracy Tutor to a growing list of high-profile real estate names backing Los Angeles mayoral hopeful Spencer Pratt. Tutor donated $1,000 to the former reality TV star’s campaign this week, according to a filing with the Los Angeles...

Onni pivots from office to resi in what would be some of LA’s tallest buildings

Onni Group is scrapping its pre-pandemic office expansion plans at Wilshire Courtyard in favor of a hefty housing play that would bring more than 2,500 apartments to Miracle Mile. The Vancouver-based developer filed plans with the City of Los Angeles...