Office

GlobeSt.com exclusively learns that a 6,872 SF, Midtown office and retail property has sold in a $6 million transaction.

With monthly leasing activity in the Big Apple having increased while seeing lower leasing volume year-over-year, the latest Colliers International Manhattan Monthly Snapshot for May 2020 is decidedly mixed.

"Looking ahead, most management teams expressed guarded optimism" about the economic and operating outlook as the economy re-opens slowly and the COVID-19 pandemic eases to some extent, Mizuho reported.

No tenant's office set-up or safety standards that existed prior to the COVID-19 pandemic will be sufficient.

Creating a safe environment will require collaborative solutions between tenants and landlords.

While the location of Lakeside Tower overlooking Lake Grapevine is a key selling point, the concept of a 16-story condominium in the suburbs of DFW was a difficult sell to the capital markets, says Alex Brown of Realty Capital.

CBRE Group found that the amount of office space available for sublease in Manhattan has declined, despite a high number of office job losses in connection with the pandemic.

We've had a rough start to 2020 (to say the least), but we can see some light and our summer months will be a true tell of how the economy will shake out moving forward.