A Texas cowboy-boot maker is betting its stores will walk all over US retail. Austin-based company Tecovas raised $56 million to expand its brand, the Austin American-Statesman reported. Much of that expansion will involve investing in retail stores across the country. Venture capital firm Elephant, founded by Warby Parker co-founder Andy Hunt, led the investment. Access Capital, Seamless Capital and Kemmons Wilson Companies were also part of the deal. Tecovas founder and CEO Paul Hedrick
The Spiral is nearing completion, but Tishman Speyer’s Hudson Yards tower is still looking to fill out its enormous office footprint with more tenants. London-based bank HSBC is in discussions to lease about 250,000 square feet at the development for a local headquarters, Bloomberg reported. A source familiar with the negotiations told the outlet tere is still a chance talks fall through. Tishman Speyer’s building at 66 Hudson Boulevard continues to reel in leases as
Chelsea Piers Fitness could soon have company at One Madison Avenue. Two companies, actually. IBM and Franklin Templeton are in discussions about becoming anchor tenants at SL Green’s 1.4 million-square-foot office development, people familiar with the matter told Bloomberg. The outlet noted that no deal is done and the talks may still collapse. IBM is looking at leasing approximately 350,000 square feet in the development. The company told Bloomberg it would like to consolidate its
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Roku already has a place in the homes of millions of Americans, but soon it will have a new home in one of the most glamorous media meccas in the world. The digital media manufacturer agreed to a long-term lease for 240,000 square feet at RXR Realty’s 5 Times Square, according to the New York Post. The lease gives Roku the top eight floors of the building, as well as control over the vertical sign
Still riding high off a solid third quarter, Signature Bank’s next move is an internal one, greatly expanding its offices at Empire State Realty Trust’s 1400 Broadway. Signature Bank is expanding by more than 168,000 square feet at the building, ESRT announced. The company already leased nearly 112,000 square feet, bringing its total to more than 280,000 square feet across 10 of the building’s 37 floors. The asking rent was $67 per square foot and
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New York’s first snowfall of the year accompanied a flurry of freshly signed square feet for Global Holdings Management Group at its NoMad Tower. Two new tenants signed on to join the building at 1250 Broadway recently, the Commercial Observer reported. Fintech firm Ridgeline Apps signed a five-year lease for nearly 15,000 square feet, while communications company APCO Worldwide signed an 11-year lease for slightly more than 15,000 square feet; both companies will have full
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The Manhattan office market’s gains in the wake of the pandemic appear to be centered on a continued flight to quality. CBRE data show 105 contracts were signed for spaces priced at or above $100 per square foot, as reported by the Commercial Observer. The contract signings marked a 114 percent year-over-year jump and an 18 percent rise from a five-year average. Spaces priced below the triple digits are also exceeding pre-pandemic numbers, but aren’t
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Morgan Stanley is keeping its faith in New York City’s office culture in the new year, agreeing to one of the city’s biggest leases since the onset of the pandemic. The investment bank is poised to take over roughly 400,000 square feet at 55 East 52nd Street, also known as Park Avenue Plaza, Bloomberg reported. The 15-year lease will replace BlackRock’s headquarters as that firm moves to Hudson Yards next year. Morgan Stanley’s presence in
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Brooklyn and Queens may be tired of playing second fiddle to Manhattan, but they do benefit from its spillover when office leasing on the island is hot. In 2021, it surely wasn’t. Not surprisingly, the story was similar in the outer boroughs. Using data provided by Newmark, The Real Deal ranked the 10 biggest Brooklyn and Queens office leases by square footage. The two most populous boroughs couldn’t escape the work-from-home drag: Only three of
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With his reflective sunglasses, sharp suit and phosphorescent teeth, Eric Adams fit right in at Summit One Vanderbilt, the mirrored observation deck atop SL Green’s new trophy tower near Grand Central. It was October 2021, and New York’s next mayor was ringing in a tourist trap at the city’s priciest office building, even though both tourism and office occupancy remained abysmal. As Adams and other figureheads predicted a bright future for the edifice, and by