Articles of the week ending November 26th
World’s Largest Warehouse Owner Scouting Sites Along ‘Blue Highways’
By Noah Zucker, Bisnow
The key takeaway: New York City’s Blue Highways Initiative aims to shift freight from trucks to boats to reduce congestion and pollution, with major players like Prologis investing in waterfront industrial sites to scale short-sea shipping as a model for other U.S. cities.
The Data Center Construction Surge May Be Nearing A Plateau
By Dan Rabb, Bisnow
The key takeaway: Explosive AI-driven data center construction is expected to peak around 2026 and then level off as hyperscalers shift investment from building new facilities to purchasing GPUs and computing hardware.
Clarion Partners Sells 114 West 41st Street to Buyer Trio for $133M – Commercial Observer
By Cathy Cunningham, COMMERCIAL OBSERVER
The key takeaway: Clarion Partners sold 114 West 41st Street for 133 million dollars which is less than half of what it paid in 2018 showing how much Midtown office values have fallen.
Fundamentals and Capital Are Back for NYC’s Office Market_ Forum – Commercial Observer
By Max Gross, COMMERCIAL OBSERVER
The key takeaway: Speakers at the forum said New York City’s office market has clearly rebounded with low vacancies, rising rents, strong tenant demand and capital returning even as political and technological uncertainties remain.
Lack of New Supply, Spiking Demand Drive U.S. Office Market Recovery – Commercial Observer
By Brian Pascus, COMMERCIAL OBSERVER
The key takeaway: The US office market is recovering because demand is rising while very little new space is being built leading to lower vacancies and stronger investment activity in several major cities.
Rudin Nears $350M Recapitalization for 845 Third Avenue’s Next Chapter – Commercial Observer
By Cathy Cunningham, COMMERCIAL OBSERVER
The key takeaway: Rudin is finalizing a 350 million dollar recapitalization to convert 845 Third Avenue from an office building into more than 400 apartments marking another major step in New York City’s accelerating office to residential conversion wave.
News _ Options for large office tenants dwindle as available premium space shrinks
By Phil Mobley, CoStar Analytics
The key takeaway: Big office tenants now have far fewer choices because large high quality spaces are being taken quickly especially in top markets like San Jose New York and Seattle while demand concentrates in the best buildings.