Stat of the Week

Deals Under 20,000 SF Ruled in 2012

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Mega deals rule the commercial real estate market and the trade papers, as everyone in the industry wants to know where the latest big block of space was leased and who will take down the next one.

The market saw its share of deals that were 100,000 square feet and more in 2012, just slightly off of 2011’s pace—53 versus 56, respectively. It is always great to read about the UBS-type 890,000-square-foot renewals and expansions and the Microsoft-like 204,000-square-foot deals, but based on the number of transactions, these household names account for merely 3 percent of the leasing activity in any given year. Read More

Big Real Estate

Thirty Bidders Later, Former Morgan Stanley Hub in Contract

Hines Interests is in contract to sell the imposing hexagon-topped former Morgan Stanley hub at 750 Seventh Avenue, multiple sources told The Observer.

Interest from bidders was “through the roof,” according to one person involved in the process, with 20 to 30 prospective buyers, including a number foreigners from the Middle East and Asia. An offshore investor was Read More