INDIANAPOLIS, SOUTH BEND AND BLOOMINGTON, IND. — International Workplace Group (IWG), a hybrid workspace platform with brands such as Spaces, Regus and HQ, has added three new coworking spaces in Indiana. The company’s footprint now totals more than 20 locations in the state. The new locations are at 863 Massachusetts Ave. in Indianapolis, 701 N. Niles Ave. in South Bend and 3802 E. 3rd St. in Bloomington. The Bloomington facility is now open, while the others will debut later this year. All will include private offices, meeting rooms, coworking and creative spaces. Citing explosive market growth as companies of all sizes adopt hybrid working for the long term, IWG says that 30 percent of all commercial real estate will be flexible workspace by 2030.
NEW YORK CITY — JLL has negotiated a 15,397-square-foot office lease expansion in Midtown Manhattan. The tenant, commercial lender Webster Bank, also extended its lease and now occupies about 46,000 square feet across three full floors at 360 Lexington Avenue, a 268,000-square-foot building. Jeff Szczapa and Drew Saunders of JLL represented Webster Bank in the lease negotiations. Mitchell Konsker, Ben Bass, Barbara Winter and Thomas Swartz, also with JLL, represented the landlord, AmTrust RE.
Birmingham’s office market is holding its own with overall market occupancy at 82.6 percent as of fourth-quarter 2024. We saw a slower second half of the year, but that is to be expected during a presidential election year when companies often hit pause on significant real estate decisions. During the fourth quarter, Birmingham’s multi-tenant office market recorded negative absorption of 67,739 square feet, but that was a notable improvement from the negative 268,061 square feet recorded the previous quarter. Leasing activity for the quarter came in at 180,849 square feet, bringing the year-to-date total to just over 562,000 square feet — about 22 percent below the previous year’s pace. While definitely a slowdown, this performance is nothing out of step with the broader national trends. Signs of positive momentum The good news? Since the start of 2025, activity has picked up across the board. Tenants are back in the market touring space and rethinking their long-term office needs. Some are expanding, some are rightsizing to space that better fits how they work today and others are updating their office protocols to bring employees back in more regularly — all of which is driving movement in the market. In addition, several …
RICHARDSON, TEXAS — GEICO has signed a 165,000-square-foot office lease in the northeastern Dallas suburb of Richardson. The insurance provider will occupy the entirety of Building B at Galatyn Commons, a four-building, 800,000-square-foot campus. Anya Ostry, Doug Carignan, Travis Boyd and Christy Rhea of CBRE represented GEICO in the lease negotiations. Chris Taylor and Zach Bean of Cushman & Wakefield represented the landlord, Mapletree, a global investment firm based in Singapore, which just completed a renovation of the campus.
CARROLLTON, TEXAS — Holt Lunsford Commercial has negotiated a 51,000-square-foot office lease renewal in the northern Dallas metro of Carrollton. The tenant is Kristopher James Co., which provides printing, mailing and consulting services to the finance industry, and the building is located at 1406 Dunn Drive. Hudson Sheets and Adam Curran of Holt Lunsford represented the tenant in the lease negotiations. Andrew Gilbert and Keaton Brice, also with Holt Lunsford, represented the undisclosed landlord.
NEW YORK CITY — Coalition Space has opened a 15,736-square-foot flexible workspace at 485 Madison Avenue in Midtown Manhattan. The lease term is 10 years, and the space is known as Coalition Space Grand Central. Bert Rosenblatt and Alex Gerome of Cresa represented Coalition Space in the lease negotiations. Adam Rappaport and Brett Greenberg internally represented the landlord, Jack Resnick & Sons.
NEW YORK CITY — Posh Group Inc. has signed a 11,436-square-foot office lease expansion in Manhattan’s SoHo district. The event manager and brand promoter has effectively doubled its footprint to 22,637 square feet across two full floors at 40 Crosby, a five-story building. KPG Funds owns 40 Crosby, which offers 34,229 square feet of office space and 18,000 square feet of retail space on the ground floor.
CHAPPAQUA, N.Y. — A partnership between two New Jersey-based firms, Atkins Cos. and Denholtz, has completed Phase I of the renovation of Medical Offices at Chappaqua Crossing, a 490,000-square-foot office and healthcare complex located about 30 miles north of Manhattan. Northwell Health’s Northern Westchester Hospital anchors the 59-acre facility, which is located within a larger mixed-use development that formerly housed the headquarters of Reader’s Digest and is known as Chappaqua Crossing. The renovation upgraded the property’s common areas with new LED lighting, ceilings, flooring, lobby furniture, paint/wallpaper and moss wall coverings. In addition, a $6 million upgrade of HVAC systems is currently underway. The partnership acquired the property in April 2023 for $40 million.
EAGAN, MINN. — Transwestern Real Estate Services has brokered the sale of a 58,645-square-foot office showroom located at 3020 Denmark Ave. in the Minneapolis suburb of Eagan for an undisclosed price. Transwestern’s Mike Honsa and John Thompson represented the seller, Blue Water III LLC. The buyer, the Plumbers and Gasfitters Local 34 union, is consolidating its operations and moving both its corporate office and training center to the property. The union was previously based at 353 7th St. in St. Paul. The property was previously occupied by CHS, which had been in the building since its completion in 1998. Blue Water III LLC’s decision to sell came when the building became vacant for the first time. Jordan Dick, Todd Hanson and Jason Sell of Cushman & Wakefield represented the buyer.
ROCKAWAY, N.J. — Casio America has signed a 21,338-square-foot office lease in the Northern New Jersey community of Rockaway. The U.S. subsidiary of the Japanese electronics manufacturer is taking space on the third floor of The Mark, a seven-story, 237,087-square-foot building that was recently renovated. Chris Conklin, Dan Spero and Maria Rubert of JLL represented the landlord, Northbridge Capital, in the lease negotiations. Naoki Yamaguchi of Relo Redac Inc. represented the tenant.