The hedge fund wants to sublet about 30,000 sq. ft. of its 50,000-sq.-ft. offices at the NYC skyscraper.
The REIT plans to transfer the branding and management of the 103 hotels to Sonesta International Hotels Corp. by December.
Even in a market partially paralyzed by the pandemic, places with outdoor space are getting more looks than those without.
In order for any firm to be successful, they will need to work within the current parameters of communication.
And in spite of significant changes to the bankruptcy code since GGP went through the process, filing now will be more arduous.
Their argument: It’s safe, and the eateries and shops that make Manhattan special can’t hold out much longer.
KBS CEO Chuck Schreiber discusses how the pandemic is changing tenant needs and what that means for office owners.
The constant presence of the pandemic has crystallized the values and attributes that define true leadership.