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Lawmakers reach sweeping housing deal with “good cause eviction,” new 421aLawmakers reach sweeping housing deal with “good cause eviction,” new 421a“Investing before the ‘all clear’ sign”: Jon Gray on Blackstone’s $10B apartment deal“Investing before the ‘all clear’ sign”: Jon Gray on Blackstone’s $10B apartment dealSL Green, Vornado kick in $100M to extend 280 Park loanSL Green, Vornado kick in $100M to extend 280 Park loanMacerich faces “imminent” default on $300M Santa Monica Place loanMacerich faces “imminent” default on $300M Santa Monica Place loan
South Florida

Office developers looking to Miami

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Miami saw the addition of more new office space last year than any other
city in the United States other than the nation’s capital, according to Jones Lang LaSalle. But the vacancy
rate in Miami’s central business district is 22 percent, nearly twice
that of Washington, D.C. One tower, 600 Brickell, is on the way
after a strategic slowdown. “The last generation of buildings are being
left with big open spaces,” said Robert Kaplan, principal of Asentus
Real Estate. “The question is how do these get backfilled?” Loretta
Cockrum, CEO of Foram, the developer of 600 Brickell, said she hoped to
bring new industries to Miami. “It doesn’t help the city to move a
tenant from building A to building B,” she said. “We believe we are
going to attract a lot of out-of-market businesses and tenants.” [NYT]

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