Office

As commercial real estate continues to increase in value, nonprofits' budgets are increasingly going toward rent and real estate-related costs, pushing the creative bounds in filling space requirements.

Following the COVID-19 slowdown, Entrada will undertake a multi-million-dollar renovation that will focus on Travis Park Plaza's aesthetic, amenities and tenant functionality.

"The consistent message out there is everything is waiting for that shoe to drop on April 1."

The largest transaction was the 21,895-square-foot lease extension with St. Joseph's Hospital at the 68,000-square-foot office building. Dentistry for Children also recently signed a new lease for 5,050 square feet at the complex.

The Kaufman Organization has acquired 56 West 22nd St., a 66,190-square-foot boutique office and retail property in the Flatiron District for $48.5 million. Jones Lang LaSalle arranged the transaction for the 12-story property.

Between Greenwich and Hudson streets in Manhattan's TriBeCa neighborhood, a seven-story boutique office building at 177 Franklin St. has traded for $16.75 million. The property is the flagship store of Shinola, an American lifestyle brand.

Recognizing the new realities of COVID-19, real estate augmented reality visualization platform RealAR recently partnered with location-based AR experience company tagSpace to launch a strategic partnership.

The firm plans to implement capital improvements at the recently-repositioned, class-A office property, located in the DC suburb of Rockville, MD.