Commercial Real Estate
Thor Equities Acquires Historic NYC Mixed-Use Property for $56 Million
Thor Equities, a real estate development, leasing, and asset management firm, announced its acquisition of 1165 Broadway, a 58,000-square-foot, mixed-use office and retail property in New York City, for $56 Million. Located in Manhattan’s NoMad District, the property...
Sanders and AOC Seek Moratorium on AI Data Center Construction
The Artificial Intelligence (AI) Data Center Moratorium Act would enact an immediate federal moratorium on these facilities. Continue Reading Sanders and AOC Seek Moratorium on AI Data Center Construction
Hits and Misses for the Real Estate Week of May 19-23
An unholy misuse of eminent domain, a ritzy Los Angeles mansion with a significant stigma, and a Maine broker running for governor. Continue Reading Hits and Misses for the Real Estate Week of May 19-23
Penn State to Close 7 Campuses
The board voted 25 to 8 to close the DuBois, Fayette, Mont Alto, New Kensington, Shenango Wilkes-Barre and York campuses. Continue Reading Penn State to Close 7 Campuses
OpenAI to Build 1-Gigawatt AI Data Center in Abu Dhabi
The buildings’ construction will be funded by G42 while the data center will be operated by OpenAI and the tech company Oracle. Continue Reading OpenAI to Build 1-Gigawatt AI Data Center in Abu Dhabi
New Books Focus on Section 1031 Exchanges, Selling Commercial Real Estate
All proceeds from the Louis J. Rogers’ book sales will benefit the Children’s Hospital of Richmond at Virginia Commonwealth University. Continue Reading New Books Focus on Section 1031 Exchanges, Selling Commercial Real Estate
Tempus Realty Partners Buys Pittsburgh Office/Retail Property for $43.75 Million
Originally constructed as a warehouse, the property covers 94,580 square feet of office space and 31,405 square feet of retail. Continue Reading Tempus Realty Partners Buys Pittsburgh Office/Retail Property for $43.75 Million
Elie Schwartz Sentenced for His $62.8 Million Real Estate Fraud Scheme
Schwartz pleaded guilty in February to one count of wire fraud. Continue Reading Elie Schwartz Sentenced for His $62.8 Million Real Estate Fraud Scheme
Paramount Group Begins Review of ‘Strategic Alternatives to Maximize Shareholder Value’
The company also announced several executive changes. Continue Reading Paramount Group Begins Review of ‘Strategic Alternatives to Maximize Shareholder Value’
Healthcare Real Estate Market Forecast to Reach $1.87 Trillion by 2030
The new forecast observed that medical outpatient buildings had a 92.8% occupancy rate in the fourth quarter of 2024. Continue Reading Healthcare Real Estate Market Forecast to Reach $1.87 Trillion by 2030
Kash Patel: FBI to Vacate DC Headquarters
The 11-story Brutalist-style building opened in 1975. Continue Reading Kash Patel: FBI to Vacate DC Headquarters
CBRE Forecasts Modest RevPAR Growth for US Hotels in 2025
Looking ahead, CBRE projects RevPAR growth in the range of 1.0% to 3.0% over the next few years. Continue Reading CBRE Forecasts Modest RevPAR Growth for US Hotels in 2025
