The Real Deal Uber is offering for sublease Chase Center Tower II, a 268,500-square-foot office property in San Francisco The rideshare company in 2019 started paying $85/sf for space at the building, but never moved in as it was having the property...
Leasing activity in the Manhattan office market totaled 736 million square feet in the first quarter, nearly 10 percent less than the 10-year quarterly average of a little more than 8 million sf, according to Colliers The lackluster leasing is...
Commercial Real Estate Direct Staff Report Kroll Bond Rating Agency has placed bonds from 11 CMBS conduit transactions on watch for possible downgrade because of their exposure to underperforming office properties The 11 deals were issued between...
The Washington, DC, office market had an availability rate of 217 percent in the first quarter - a record high - according to Savills Meanwhile, its office inventory fell to 1221 million sf from 124 million sf at the same time in 2022...
Commercial Real Estate Direct Staff Report CMBS delinquencies inched up in April to $191 billion from $1907 billion, leaving the delinquency rate unchanged at 309 percent, according to Trepp Inc The small increase in delinquency was offset by a rise...
Commercial Real Estate Direct Staff Report The $127 billion of financing against a portfolio of 146 office, flex and retail properties in Arizona, Florida, Minnesota and Pennsylvania owned by Workspace Property Trust has transferred to special...
Last month, CMBS special servicers had resolved 43 troubled loans with a balance of $223 billion But that wasn't enough to offset the addition of 42 loans with a balance of $275 billion to the special servicing rolls So, overall volumes increased by...
Commercial Real Estate Direct Staff Report Lenders widened the spreads, or risk premiums, on their office loans during the first quarter by more than 10 basis points, according to the Trepp-i survey But for other property types, spreads remained...
Commercial Real Estate Direct Staff Report CMBS spreads, particularly for bonds lower in the credit stack, had widened on the secondary market substantially during the first quarter The widening actually had gotten underway during the latter part of...
The Los Angeles-area office market had a 225 percent vacancy rate in the first quarter, according to Colliers That's up from 203 percent at the same time last year But if you factor in available sublease space, the market's availability rate jumps...
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