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ROBERT KHODADADIAN
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IXL Learning Expands HQ Near Raleigh - What is a Ground Lease?
The four-story, 90,089-square-foot building is part of Perimeter Park, a 3 million-square-foot master-planned development. Image courtesy of Trinity Partners
Education technology pioneer IXL Learning has expanded its East Coast headquarters by 22,309 square feet at Perimeter Park in Morrisville, N.C. The company now fully occupies the 90,089-square-foot office building at 1600 Perimeter Park…
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Chicago Bears’ New Stadium Plans Revealed - Robert Khodadadian
The Chicago Bears gave a first look at what the team is planning to build along the city’s lakefront. The new details covered plans that go beyond a stadium, including an entertainment hub that can host Super Bowls, playoffs, concerts and community events.
During a public presentation at Soldier Field, the Bears unveiled plans to build a state-of-the-art fixed-roof stadium. The team released…
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Robert Khodadadian | Commercial Observer
WeWork will stay open for business at 77 Sands Street in Dumbo, Brooklyn, but in a smaller footprint, the coworking company announced Monday.
Landlords RFR and Kushner Companies agreed to modify WeWork’s lease to allow it to remain at the property at a discounted rent rate, according to a motion WeWork filed in U.S. bankruptcy court Monday.
WeWork signed on for 72,000 square feet in the…
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WeWork to Spare Dumbo Location from Closing Robert Khodadadian | Commercial Observer
WeWork will stay open for business at 77 Sands Street in Dumbo, Brooklyn, but in a smaller footprint, the coworking company announced Monday.
Landlords RFR and Kushner Companies agreed to modify WeWork’s lease to allow it to remain at the property at a discounted rent rate, according to a motion WeWork filed in U.S. bankruptcy court Monday.
WeWork signed on for 72,000 square feet in the…
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BKM Adds Juniper Square’s David Jensen as Managing Director - Robert Khodadadian
Newport Beach-based BKM Capital Partners has hired David Jensen as managing director, strategic partnerships. Jensen will report directly to CFO Bill Galipeau.
In his new role, Jensen will manage BKM’s joint venture institutional separate account and programmatic JV partnerships. He will also identify and cultivate relationships with potential equity partners to expand BKM’s investor network and…
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Robert Khodadadian | Commercial Observer
A New York City-based investment group has gotten its hands on a large multifamily property in Los Angeles’ Sherman Oaks neighborhood at a 10.5 percent discount.
Abacus Capital Group paid $72.5 million for a 236-unit complex at 4735 Sepulveda Boulevard, about a block East of the 405 Freeway, according to The Real Deal, which cited L.A. County property records.
The seller, Scottsdale,…
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Los Angeles Multifamily Complex Trades for 11% Discount Robert Khodadadian | Commercial Observer
A New York City-based investment group has gotten its hands on a large multifamily property in Los Angeles’ Sherman Oaks neighborhood at a 10.5 percent discount.
Abacus Capital Group paid $72.5 million for a 236-unit complex at 4735 Sepulveda Boulevard, about a block East of the 405 Freeway, according to The Real Deal, which cited L.A. County property records.
The seller, Scottsdale,…
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Robert Khodadadian | Commercial Observer
A more than 100-year-old cultural building in Miami’s Design District is in the midst of reopening after closing for renovations late last year, and it has a new restaurant to show off.
The Moore, a nearly 90,000-square-foot social club and historic landmark built in the early 1920s and reopened on Wednesday, features a reimagined hotel, a member’s club, executive offices and gallery space. Yet…
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Upscale Restaurant Elastika to Open in Miami’s Renovated Moore Building Robert Khodadadian | Commercial Observer
A more than 100-year-old cultural building in Miami’s Design District is in the midst of reopening after closing for renovations late last year, and it has a new restaurant to show off.
The Moore, a nearly 90,000-square-foot social club and historic landmark built in the early 1920s and reopened on Wednesday, features a reimagined hotel, a member’s club, executive offices and gallery space. Yet…
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Mayor Adams Releases $112B Budget for Fiscal Year ’25 - Robert Khodadadian
New York City Mayor Eric Adams has proposed a $111.6 billion budget for fiscal year 2025, focusing on public safety, economic growth, and aiding low-income residents. The budget includes funding for more NYPD classes, aiming to add 2,400 officers by 2024-end, and erasing billions in medical debt for eligible New Yorkers.
Regarding the migrant crisis, Adams highlighted the city’s care for nearly…
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Robert Khodadadian | Commercial Observer
Oh, how the fortunes have turned.
Apartment rents appear to have finally peaked in Florida, after flaunting national trends quarter after quarter.
Median asking rents for one-bedroom apartments were down in April in all seven Florida cities tracked by listings site Zumper, compared to last year. Nationally, rents remained relatively flat, with one-bedroom rents declining by 0.6 percent since…
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Apartment Rents Are Finally Down Across Florida Robert Khodadadian | Commercial Observer
Oh, how the fortunes have turned.
Apartment rents appear to have finally peaked in Florida, after flaunting national trends quarter after quarter.
Median asking rents for one-bedroom apartments were down in April in all seven Florida cities tracked by listings site Zumper, compared to last year. Nationally, rents remained relatively flat, with one-bedroom rents declining by 0.6 percent since…
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Robert Khodadadian | Commercial Observer
David Cooley in West Hollywood, California. photo: Rodin Eckenroth/Getty Images
Perhaps the most prolific LGBTQ club in Los Angeles traded hands for $27 million, Commercial Observer has learned.
Tech entrepreneur Tristan Schukraft agreed to buy The Abbey and its sister location the Chapel in West Hollywood from investment banker David Cooley, the company announced in November 2023. However, a…
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Price Revealed for West Hollywood’s Famed Abbey Nightclub Robert Khodadadian | Commercial Observer
David Cooley in West Hollywood, California. photo: Rodin Eckenroth/Getty Images
Perhaps the most prolific LGBTQ club in Los Angeles traded hands for $27 million, Commercial Observer has learned.
Tech entrepreneur Tristan Schukraft agreed to buy The Abbey and its sister location the Chapel in West Hollywood from investment banker David Cooley, the company announced in November 2023. However, a…
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URW Launches Expansion of Westfield UTC; Completion Set for 2026 - Robert Khodadadian
Unibail-Rodamco-Westfield (URW) has launched construction on an expansion of its Westfield UTC open-air shopping center in La Jolla. The retail owner-developer plans to add new-to-market luxury boutiques, two more fine dining options and amenities on the site of the former Nordstrom department store, which was demolished in 2022.
URW did not say how much the expansion would cost to build. It’s…
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Industrious Extends, Expands Manhattan Lease - What is a Ground Lease?
860 Broadway used to be one of Andy Warhol’s studios. Image courtesy of CommercialEdge
Flexible office space provider Industrious has signed a lease extension and expansion for its space at 860 Broadway in Manhattan, bringing its footprint at the property to 27,630 square feet across two floors.
The firm previously occupied 13,815 square feet at Gordon Properties’ building. Cushman & Wakefield…
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Robert Khodadadian | Commercial Observer
Three-year-old brokerage Open Impact Real Estate and industry giant JLL (JLL) have formed an alliance, Commercial Observer has learned.
Open Impact co-founders Lindsay Ornstein and Stephen Powers signed an agreement to become JLL’s “exclusive WBE [women-owned business enterprise] partner in the tri-state region,” a spokesperson for JLL said in a statement.
Longtime partners Ornstein and Powers…
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