NEW YORK CITY — UHY Advisors NY Inc. has signed a 27,508-square-foot office lease in Midtown Manhattan. The financial advisory firm will occupy the entire ninth floor at 1185 Avenue of the Americas, a 42-story building, via a 10-year deal. Silvio Petriello and Tamika Kramer of CBRE represented the tenant in the lease negotiations. Brian Waterman, Jonathan Fanuzzi, Brent Ozarowski, David Waterman and Kevin Sullivan of Newmark represented the landlord, SL Green.
RALEIGH, N.C. — Kane Realty Corp. has signed Couchbase Inc. to a roughly 20,000-square-foot lease at The Offices at North Hills in Raleigh’s North Hills district. The San Jose-based AI data platform operator has six offices internationally and will use the Raleigh office as a “center for excellence.” Couchbase will occupy a full floor at 4350 Lassiter, a three-story building within The Offices at North Hills complex. Ben Litke and Kristine Smith of Cushman & Wakefield represented Couchbase in the lease negotiations. Hooker Manning and Alex Mikels represented Kane Realty internally.
IRVING, TEXAS — Bradford Commercial Real Estate Services has arranged the sale of MacArthur Ridge II, a 260,796-square-foot office building in Irving. MacArthur Ridge II is a six-story building that was constructed on a 7.5-acre site in 1999 by CalSTRS and subsequently sold to Hines. Amenities include a conference center, fitness facility and deli/lounge space. Richmond Collinsworth and Jared Laake of Bradford represented the seller, Grupo Haddad, which has owned the building since 2013, in the off-market transaction. The buyer, the City of Irving, plans to house its fire and police departments within MacArthur Ridge II.
PASADENA, CALIF. — Swift Real Estate Partners has completed the disposition of 35 N Lake, a Class A office building in Pasadena, to State Compensation Insurance Fund for an undisclosed price. Located at 35 N. Lake Ave., 35 N Lake offers 158,785 square feet of office space approximately 10 miles northeast of downtown Los Angeles and blocks from the Metro Gold Line, providing connectivity to Santa Monica, the South Bay and Hollywood. Jeff Bramson, Andrew Harper, Will Poulsen, Jacob Molloy and Will O’Neil of JLL Capital Markets represented the seller, while CBRE represented the buyer in the transaction.
ROSEMONT, ILL. — Claire’s Holdings LLC, a global accessories retailer and portfolio company of Ames Watson, has signed a 43,200-square-foot office headquarters lease at Columbia Centre III in the Chicago suburb of Rosemont. Claire’s will relocate its headquarters from Hoffman Estates, Ill., with the new space expected to open in early 2027. John Clark and Sean Moran of Newmark and Spence Mehl of RCS Real Estate Advisors represented the tenant. Joe Stevens and Steve Degodny of Transwestern represented the undisclosed landlord. Located at 9295 W. Bryn Mawr Ave., Columbia Centre III is a nine-story office building totaling 238,696 square feet. Amenities include a fitness center, onsite dining and covered parking.
NEW YORK CITY — Groombridge, Wu, Baughman & Stone LLP has signed a 42,866-square-foot office lease in Midtown Manhattan. The law firm will occupy the entire 37th floor and part of the 36th floor at 1185 Avenue of the Americas, a 42-story building. Lisa Kiell and Andrew Coe of JLL represented the tenant in the lease negotiations. Brian Waterman, Jonathan Fanuzzi, Brent Ozarowski, David Waterman and Kevin Sullivan of Newmark represented the landlord, SL Green.
— By Mike Embree of Drawbridge Realty — After 16 consecutive quarters of either negative or negligible net absorption, Salt Lake City’s office market closed 2025 on a positive note. The end result was 114,700 square feet of direct occupancy gains, per Cushman & Wakefield. This resulted in 263,000 square feet of direct absorption for the year, spurring a 500-basis point decline in the direct vacancy rate, which now stands at 19.4 percent. It’s too early to say that the market has turned the corner, but the signs are promising. For landlords, one positive in a market with about 10 million square feet of availability is that new office construction has effectively stalled for now. Only one building was delivered in 2025, adding just 180,000 square feet to the existing inventory with no new office projects on the drawing board. At the same time, more than a dozen buildings were removed from the office leasing market, either by developers pursuing multifamily conversions or purchases by owner-users. One such sale occurred in the fourth quarter when the Salt Lake City Corporation of Public Utilities purchased One Airport Tech, a two-story, 87,657-square-foot building near Airport Technology Park campus. C&W data notes …
SAN ANTONIO — A joint venture between two retail owner-operators, Houston-based Fifth Corner and San Antonio-based Headwall Investments, has acquired a 53,000-square-foot office and retail building in San Antonio’s Alamo Heights submarket. According to LoopNet Inc., the property at 5108 Broadway St., which is known as Stewart Center, was built on 2.1 acres in 1957. The seller and sales price were not disclosed.
DAVENPORT AND BETTENDORF, IOWA — NAI Ruhl Commercial Co. has brokered the sale of two office buildings in the Quad Cities. The properties were formerly owned by the Slavens family and served as the longtime home of Northwest Bank & Trust, now Time Bank. A nine-story building at 100 E. Kimberly Road in Davenport totals 67,839 square feet, while a six-story building at 2550 Middle Road in Bettendorf totals 45,588 square feet. Both properties are considered regional landmarks, according to NAI Ruhl. They house approximately 60 tenants, including business uses such as banking, legal services, accounting, medical practices and counseling services. Charlie Armstrong and Alex Kelly of NAI Ruhl represented the buyer, Avalair Group. Bobbie Slavens of Hawkeye Commercial Real Estate represented the seller, River Cities Development LLC, a subsidiary of Northwest Investment Corp. Tower Trust & Investment Co. and Centennial Tax & Accounting, both subsidiaries of Northwest Investment Corp., will continue as full-floor tenants. Armstrong and Kelly will handle leasing for both properties, and NAI Ruhl’s property management division will provide property management services.
By Anders Pesavento, Cushman & Wakefield If you have ever been to a pro sports game or a concert and felt that collective buzz, you know exactly what I mean — it is electric. The kind of energy that makes you look around and think, right, this is why we do this. I felt it first-hand when the Cross Country Skiing World Cup came to Minneapolis in 2024, and more than 30,000 people packed into one place to cheer on the athletes. That day was a reminder you cannot replicate with a livestream or a group chat: humans feed off other humans. The office market is tapping into that same instinct, just in a quieter way. That is why the conversation has moved from whether office matters to which offices matter. It is not a blanket comeback. It is a sorting. We are not rewinding to 2019. Companies are using spaces differently and choosing buildings that help them recruit and retain talent. Hybrid schedules are real, but so is the need for culture, onboarding and collaboration that works best face-to-face. That shift makes “vacancy” a blunt instrument. Real vacancy is the space that is truly available in buildings that can …
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