News:
Brokerage
Posted: January 27, 2009
COMIDA approves financial assistance to Nixon Peabody
Monroe County executive Maggie Brooks said that the County of Monroe Industrial Development Agency (COMIDA) approved assistance for Nixon Peabody, LLP.
Nixon Peabody is a full-service, international law firm with 825 attorneys in 19 locations worldwide. Nixon Peabody has been a tenant in the 1100 Clinton Sq. Building since 1990 and will be signing a long-term lease extension to remain in the city. Nixon Peabody considered other locations outside Monroe County. Nixon Peabody currently leases the 4th and 9th - 14th floors and is proposing $7.4 million in renovations to update and improve space and accommodate Nixon Peabody's new "Global Operations Center" servicing all Nixon locations. The city is supportive of the project and has requested assistance through COMIDA. Nixon Peabody currently employs 373 FTE in Monroe County and expects to create 20 new FTE within three years. The applicant seeks approval of Special PILOT proposed by the city.
COMIDA is a not-for-profit, public benefit corporation and governmental agency. Its purpose is to actively promote, encourage, attract and develop job opportunities in the community.
Tags:
Brokerage
MORE FROM Brokerage
SABRE coordinates sale of six properties totaling 199,845 s/f
Huntington, NY SABRE Real Estate Advisors has completed the sale of six commercial properties across Long Island and Northern New Jersey, further underscoring the firm’s strength as a trusted partner in complex real estate transactions. The deals were led by executive vice presidents Jimmy Aug and Stu Fagen, whose combined expertise continues to drive exceptional results for clients across the region.
.jpg)
Quick Hits
.gif)
Columns and Thought Leadership
Strategic pause - by Shallini Mehra and Chirag Doshi
Many investors are in a period of strategic pause as New York City’s mayoral race approaches. A major inflection point came with the Democratic primary victory of Zohran Mamdani, a staunch tenant advocate, with a progressive housing platform which supports rent freezes for rent
Lower interest rates and more loan restructuring can help negate any negative trending of NOI on some CRE projects - by Michael Zysman
Lower interest rates and an increased number of loan restructurings will be well received by the commercial real estate industry. Over the past 12 months there has been a negative trend for NOI for many properties across the country.
Lasting effects of eminent domain on commercial development - by Sebastian Jablonski
The state has the authority to seize all or part of privately owned commercial real estate for public use by the power of eminent domain. Although the state is constitutionally required to provide just compensation to the property owner, it frequently fails to account
Behind the post: Why reels, stories, and shorts work for CRE (and how to use them) - by Kimberly Zar Bloorian
Let’s be real: if you’re still only posting photos of properties, you’re missing out. Reels, Stories, and Shorts are where attention lives, and in commercial real estate, attention is currency.
.gif)