The Cornerhold Journal

JLL Capital Markets arranged the Nov. 6 sale of a 5.42 acre industrial redevelopment site at 19701 Hamilton Avenue in Torrance from a Brookfield-backed fund to Cabot Properties, according to JLL.

The permit-ready parcel is approved for a 122,533 square foot Class A industrial building about 11 miles from the Ports of Los Angeles and Long Beach, and it sits in a federally designated Opportunity Zone. Brookfield's team secured the entitlements before selling.

An AllianceBernstein-led lender group recorded a notice of default on $59.1 million of debt tied to the 220-key Godfrey Hotel Hollywood at 1400 N. Cahuenga Blvd., after the loan matured this year unpaid, the Los Angeles Business Journal reported.

A 2022 recapitalization valued the five-year-old hotel at $114 million, or about $518,000 a key. Hollywood's pre-pandemic wave of new hotels is now running into loan maturities.

Michael Stern told The Real Deal he has an unnamed equity partner for the branded condo tower at 888 Brickell Avenue, The American Developer reported, and still needs a final equity piece before closing a roughly $640 million construction loan by year end.

JDS paid about $61.2 million for the half-acre site, financed with a $35.7 million loan from G4 Capital Partners. Newmark listed the project for sale last month as JDS sought a minority partner.

Dalfen Industrial borrowed $26 million from CIBC Bank USA to demolish the closed Sparez bowling alley at 5325 S. University Drive in Davie and build a 151,000 square foot warehouse with 35-foot clear height, Private Wealth Daily reported.

Dalfen bought the 16.2 acre site for $17.5 million in late 2025. The plan includes 292 parking spaces and 53 truck and trailer stalls.

AI cloud company Modal Labs signed a 156,763 square foot lease at 32 Avenue of the Americas in Tribeca, according to CBRE's October Manhattan office report, Commercial Observer reported. It plans to move from 233 Spring Street in mid-2027.

Term and rent were not disclosed. The Lower Manhattan average asking rent was $62.68 a square foot in October. Rudin has owned the former AT&T tower since 1999.

CBRE counted 3.46 million square feet of Manhattan office leasing in October, 61% above the five-year monthly average, with asking rents up 6% from a year earlier to $81.61 a square foot, the New York Post reported.

Cushman and Wakefield tallied 26.6 million square feet leased so far this year, and put sublease inventory at 9.9 million square feet, the first single digit reading since October 2019.

Manifold Development's 6th and Walsh project near downtown has grown to about 612,000 square feet across 10 stories with 188 homes, roughly double its earlier scope, the Austin Business Journal reported.

The plans, first filed in April, remain under city review and are not yet approved.

Hutto City Council voted unanimously to ask the state to change rules that let qualifying large data centers avoid sales tax, sending the resolution to the Texas Municipal League ahead of its conference, the Austin American-Statesman reported.

The Williamson County suburb of about 43,000 people hosts Skybox's planned PowerCampus of at least 600 MW and Colovore's 40 MW campus on 30 acres. The council also restarted a data center noise study.