The 267,000-square foot building is selling for more than $1,200 per square foot.

The sale follows a series of upgrades KBS made to the two-building complex.

Plans include turning Herald Square & Broadway Plaza into a car-free urban space with connections to public transportation and improvements to the Herald Square Subway Station.

Ever since the start of the pandemic, smart money has been waiting patiently for opportunities to invest in distressed assets. Could it be that they were wrong?

The judge is making the argument that the ruling should be applied nationwide.

The buildings sold at the submarket's highest price per square foot, suggesting increased investor confidence.

The 1.7 million-square-foot skyscraper is now 79% leased.

"The transaction provides Equity Commonwealth with a high-quality, net-leased industrial business with stable cash flows, says Chairman Sam Zell.