Office

Many smaller regional banks, which previously provided short-term debt, were forced to close or were absorbed following the 2008 financial crisis, and Broadmark is satisfying an unmet need for short-term financing.

The law firm, which has been at the iconic Midtown East tower for the last 30 years, has extended its 175,000 square-foot lease with Tishman Speyer.

The long-term lease with RK Pharma involves the entire 215 building and its adjoining annex at the campus.

“The relocation and extension of the PBS lease is also indicative of our plan to retain and attract diverse industries to National Landing, including associations and non-profits.”

Nearly 40% of the office deals with a coworking component achieved values greater than the average for their market, a CBRE study found.

Burlingame Point, an approximately 803,000-square-foot office campus currently under construction, has finalized an agreement with Facebook to lease the entire project.

“This is a stabilized office investment property with zero vacancy, occupied by strong credit tenants with long-term leases,” says John Abuja, IPA senior director.

The industry has been slow to adopt disruptive technologies and construction productivity has become stagnant but a change is beginning to take place.