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U.S. Commercial Real Estate Marks Big Leases, HQ Move and Major Capital Deals

Big-ticket commitments concentrate in newer assets, signaling a split market.

Overview

  • AT&T confirmed it will relocate its global headquarters from downtown Dallas to a 54-acre site at 5400 Legacy Drive in Plano, Texas.
  • PayPal signed a 261,000-square-foot, 10-year lease for a new flagship workplace at the connected 345 Hudson Street and 555 Greenwich Street buildings in Manhattan’s Hudson Square.
  • Deloitte is subleasing roughly 600,000 square feet at The Waterview in Rosslyn, Virginia, a 24-story office tower owned by Morgan Stanley Real Estate Investing.
  • TransMedics Group fully leased the 498,000-square-foot life-sciences building at 188 Assembly Park Drive in Somerville, Massachusetts, within BioMed Realty’s Assembly Innovation Park.
  • A Highwoods-led venture bought Raleigh’s 495,121-square-foot Bloc83 mixed-use project for $210.5 million, while lenders advanced large financings including Wells Fargo’s $250 million loan on a 456‑unit Brooklyn apartment property and Forbright Bank’s $694 million loan to Medcore for a San Antonio seniors-housing acquisition.