Friday, February 6, 2026
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One-SoHo-Square-Manhattan
Leasing ActivityNew YorkNortheastOffice

Flatiron Health Signs 252,452 SF Office Lease Renewal, Expansion in Manhattan

by Taylor Williams

NEW YORK CITY — Flatiron Health, a healthcare technology firm that specializes in cancer research, has signed a 252,452-square-foot office lease renewal and expansion at One SoHo Square. The newly renovated, 15-story office building is located in Manhattan. In addition to renewing the 130,384 square feet it currently leases, the firm will take an additional 122,068 square feet, bringing its total footprint to nine full floors. Zev Holzman, Brad Wolk and Herman Dodson of Savills Inc. represented Flatiron Health in the lease negotiations, along with Roswell Hobbs, the tenant’s head of real estate. Brent Ozarowski, David Malawer, Andy Peretz and Brian Waterman of Newmark Knight Frank represented the landlord, Imperium Capital.

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AcquisitionsMassachusettsNortheastOffice

CBRE Brokers $20.7M Sale-Leaseback of Office, Lab Property Near Boston

by Taylor Williams

FRAMINGHAM, MASS. — CBRE has brokered the $20.4 million sale of a 153,000-square-foot office and laboratory property located within Framingham Technology Park on the western outskirts of Boston. Zell Partnership represented the seller, biotech firm Sanofi Genzyme, which will continue to operate out of the property until it takes occupancy of a new build-to-suit space at Cambridge Crossing. That property is under construction, and Sanofi Genzyme expects to move in by late 2021 or early 2022. Steve Purpura, Chris Skeffington and Roy Sandeman of CBRE represented the buyer, King Street Properties, which plans to redevelop the property into a multi-tenanted R&D lab facility after Sanofi moves out.

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AcquisitionsFloridaOfficeSoutheast

Cushman & Wakefield Brokers $54.4M Sale of Office Building in South Florida

by Alex Tostado

CORAL GABLES, FLA. — Cushman & Wakefield has arranged the $54.4 million sale of 550 Biltmore, a 162,293-square-foot office building in Coral Gables. Miami-based CGI Merchant Group acquired the 16-story building for $336 per square foot. The asset was built in 1986 and renovated in 2013. The property is located at 550 Biltmore Way, six miles west of downtown Miami. 550 Biltmore was 89 percent leased at the time of sale to tenants including UBS, Compagnie Financière Richemont (Cartier) and Heinemann Americas Inc. Mike Davis, Miguel Alcivar, Dominic Montazemi, Scott O’Donnell, Brian Gale, Ryan Holtzman and Rick Brugge of Cushman & Wakefield represented the undisclosed seller in the transaction. Gale and Holtzman, along with Andrew Trench and Jeannette Mendoza of Cushman & Wakefield, is handling leasing efforts for the building. Cushman & Wakefield also manages the property.

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AlabamaMarket ReportsOfficeSoutheastSoutheast Market Reports

Relocations, Expansions Push Birmingham Office Market to a Tipping Point

by Alex Tostado

Birmingham is a unique market for Class A office space. Last year had its fair share of notable transactions (both sales and leases), but overall a few key transactions from previous years pushed absorption in the negative figures. The most significant deal that is still impacting our market was a tenant relocation into the Red Roofs Colonnade (Colonnade North and South) located at the interchange of Highway 280 and Interstate 459, the heart of the 280/459 office submarket. Southern Co. Services signed a 700,000-square-foot, long-term lease at the project, and as of Jan. 1, the Red Roofs are now fully occupied. This transaction left a sizable block of Class A office space along the 280/459 corridor. Soon after announcing the relocation, FIS backfilled about 112,500 square feet within Inverness Center North. The CBD is still recovering from Regions Financial giving back about 160,000 square feet at Regions/Harbert Plaza, but this building has seen a large amount of activity since this announcement. Our market is in the midst of absorbing these previous deals now and moving in the right direction. This year has gotten off to a quick start with two encouraging announcements. Shortly after Wells Fargo announced it will be …

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AcquisitionsOfficeTexas

GlenStar, Singerman Buy 1.1 MSF Office Campus in Metro Fort Worth

by Taylor Williams

WESTLAKE, TEXAS — A partnership between two Chicago-based investment firms, GlenStar and Singerman Real Estate, has acquired The Terraces at Solana, a 1.1 million-square-foot office campus located in Westlake, a northern suburb of Fort Worth. The sale includes a 20-acre parcel for additional office development, as well as the Solana Fitness Club. The new ownership will either add or upgrade various amenities at the eight-building property, including the conference center, café, a tenant-only fitness center, outdoor lounge and patio and a flexible entertainment space. JLL will handle leasing of the campus, and GlenStar will handle management. The seller and sales price were not disclosed.

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One-Congress-Boston
DevelopmentMassachusettsNortheastOffice

Joint Venture Breaks Ground on 1 MSF Office Tower in Downtown Boston

by Taylor Williams

BOSTON — A joint venture between Carr Properties, National Real Estate Advisors LLC and locally based HYM Investment Group has broken ground on One Congress, a 1 million-square-foot speculative office tower in downtown Boston. The project will include 10,800 square feet of retail space and will anchor Bulfinch Crossing, a mixed-use development that includes residential, hotel, office and retail uses. The office building will top out at about 600 feet and feature 30,000 square feet of fitness, wellness and food and beverage offerings, as well as bike facilities and an outdoor roof garden. Completion is slated for 2023.

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DevelopmentHospitalityMixed-UseOfficeOregonRetailTop StoriesWestern

BPM Plans $600M, 35-Story Mixed-Use Tower in Downtown Portland

by Jeff Shaw

PORTLAND, ORE. — BPM Real Estate Group has unveiled plans for a 35-story tower in downtown Portland that will feature a mix of condominiums, office space, retail and the Pacific Northwest’s first Ritz-Carlton hotel. Project costs are estimated at $600 million. The tower will be built on the current site of the Alder Street Food Cart Pod, a collection of street food vendors that recently announced it would close at the end of this month. Construction of the project is slated to begin before the end of the year for completion in early 2023. Marriott International Inc. recently signed a contract to bring the Ritz-Carlton Residences brand to the tower with 251 hotel rooms and 138 condominiums. Marriott will also operate that portion of the development, which will be the city’s first five-star hotel, according to Marriott. Plans also call for retail space and a ground-level food hall, while details on the office portion have not yet been released. The new tower will be one of the five tallest buildings in Portland upon completion, offering views of the city, Cascade Mountains and Willamette River. The site is a few blocks from Pioneer Courthouse Square, the most-visited tourist destination in Oregon, …

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RidgeWood-Plaza-II-San-Antonio
Market ReportsOfficeTexasTexas Market Reports

Office Developers Are Bullish on San Antonio’s Suburban Markets

by Taylor Williams

Today, San Antonio’s downtown office market gets the most media exposure because new office development was nonexistent since the late 1980s and is recently picking up speed with the Pearl office buildings and Frost Tower. San Antonio’s low cost of doing business and strong population growth should lead to continued expansion in the office market citywide. What isn’t getting the attention is the fact that new development in the suburbs is still holding strong. Many companies expanding or moving here find suburban properties to be attractive options, as these buildings frequently offer larger, more efficient floor plates, which can help investors extend their dollars. Parking availability alone gives the suburbs a major advantage over downtown properties, where parking ratios are considerably lower and premium parking and higher ratios are charged to tenants or their employees. Why the Suburbs? Office investors and users alike are finding the suburbs to be comparable to those in the central business district, but at much lower occupancy costs per employee. Case in point: CBD asking rents for new office space range from $32 to $42 per square foot on a triple-net basis with minimal parking while those in the suburbs range from $24 to $30 …

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5-Paragon-Drive-Montvale-New-Jersey
AcquisitionsNew JerseyNortheastOffice

HFF Negotiates Sale of 120,000 SF Office Property in Montvale, New Jersey

by Taylor Williams

MONTVALE, N.J. — HFF has negotiated the sale of 5 Paragon Drive, a 120,000-square-foot office property in Montvale, located near the New York border. The site also houses a Wegmans grocery store and a Life Time Fitness center. Tenants at the property, which was 71 percent leased at the time of sale, include BMW, Benjamin Moore, KPMG and Sharp Corp. Jose Cruz, Kevin O’Hearn, Stephen Simonelli, Michael Oliver and J.B. Bruno of HFF represented the seller, a private equity firm, in the transaction. The buyer and sales price were not disclosed.

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IowaMarket ReportsMidwestMidwest Market ReportsOffice

Office Amenities Drive Tenant Decisions in Des Moines Market

by Kristin Harlow

In the last few years, the greater Des Moines metro area has been a title holder, reigning as a “Top Place to Live,” “Top City for Young Professionals” and even “Best Place to Retire.” Meanwhile the economy, business environment and commercial real estate sector hold titles like steady, stable and reliable.  However, over the past 24 months, the commercial office market could add thriving, prosperous and robust to that list of adjectives. As office lease rates continue to rise 1.5 to 2.5 percent annually in quality buildings, most landlords are implementing capital improvement plans that “refresh” their assets and have begun to offer amenity packages that the tenant marketplace demands. With the unemployment rate near a historical low — an estimated 2.4 percent — it has become ever more critical and competitive to recruit and retain new workforce talent. Lease concession offerings from landlords, such as rent abatement and above-standard tenant improvement packages, have decreased since post-recession levels. Despite these positive fundamentals, headwinds are facing the marketplace. A tremendous amount of block space, some from formerly non-competitive or single-tenant buildings, has come available and concession levels could once again increase as landlords compete for tenants looking for a larger footprint.  …

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