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Depending on the size of the lease, WeWork could become the largest office tenant in New York City. WeWork currently leases approximately 4.6 million square feet of office space in New York City, exceeded only by JPMorgan Chase.
The 204-room James hotel is a component of the Armature Works project that is being developed on a 2.43-acre site adjacent to the NoMa-Galludet U. Metro stop between Union Market and H Street.
The deals involve more than 600,000 square feet of existing space and 850,000 square feet of new construction, including a 600,000-square-foot distribution facility for retailer The Container Store.
Orange County Executive Steven Neuhaus reported on Wednesday evening that Great Wolf Resorts, Inc. of Madison, WI is considering building a major indoor water park resort in southern Orange County.
In addition to Abrams, the group now joining Compass includes brokers Lisa Rosenthal, Rebecca Olshan, Herman Glaswand, Curtis Woodside and Alexander Vellios.
North Ranch Gateway was originally built in 1989 and recently underwent significant renovations, according to the Sterling Organization. The property was purchased on behalf of Sterling Organization's recently launched institutional fund, Sterling Value Add Partners III, LP.
The property formerly served as an R&D and manufacturing hub for Raytheon, but has been transformed into a modern multi-tenant campus via substantial capital investment throughout the past 10 years.
Rubenstein's business plan calls for the creation of walking connections to a new retail center currently being built adjacent to the Research Plaza property, which will help tenants access the new retail amenities at the complex.
The Port Washington, NY-based REIT acquired a 99-year leasehold in the 62,000-square-foot shopping center at Minnesota Avenue and Benning Road that includes a purchase option.