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Office leases top 100,000 sq ft as KeyBank and Havas expand
KeyBank signed a 15-year renewal and expansion at 1301 Avenue of the Americas, adding to its 112,924 square feet, while Havas Health expanded to 254,118 square feet at 200 Madison Avenue.
Commercial Observer says recent office leasing activity included multiple deals that surpassed the 100,000-square-foot threshold, highlighting continued demand for larger spaces. In New York, the outlet reports KeyBank signed a 15-year renewal and expansion at Elecor Properties' 1301 Avenue of the Americas, bringing the total to 112,924 square feet. It also reports that Havas Health renewed its footprint at George Comfort & Sons' 200 Madison Avenue, adding 64,657 square feet to reach 254,118 square feet.
Elsewhere, Commercial Observer points to additional large transactions beyond New York City. In Washington, D.C., the law firm Sheppard took 107,224 square feet at In-Rel Properties' 2033 K Street NW, and in Chantilly, Va., the outlet says Meridian Group, Harrison Street Asset Management, and HLM Associates paid about $67 million for a five-building office portfolio totaling roughly 431,000 square feet.
The outlet also cites financing and project activity, including Wells Fargo providing $53.5 million in financing for a Doral, Fla., office complex, and Rockpoint and Urby receiving $277 million in construction financing for Phase 2 of 201 Hudson in Jersey City. Commercial Observer adds that Hawkins Way Capital spent $51.5 million for Loeb Hall, a 268-bed dormitory building for the New School, and notes that Kinsmen Property Group outlined plans for new senior housing and a mixed-use project in Lower Manhattan.