Latest news with #officeleasing
Yahoo
21 hours ago
- Business
- Yahoo
SL Green Realty Stock Up 12.7% in Three Months: Will the Trend Last?
SL Green Realty SLG shares have risen 12.7% in the past three months compared to the industry's fall of 0.1%. The company's high-quality portfolio is well-poised for growth, given tenants' solid demand for premier office spaces with class-apart amenities. With supply pressures easing and people returning to offices, SL Green is witnessing healthy leasing activity. Moreover, its long-term leases and diverse tenant base assure stable rental revenues. Its focus on an opportunistic investment policy to enhance portfolio quality is encouraging. Image Source: Zacks Investment Research SL Green has a mono-market strategy focus, with an enviable footprint in the large and high-barrier-to-entry New York real estate market. The companyis well-positioned to benefit from the growing demand for high-quality, well-amenitized office properties, given its well-located asset portfolio and the ability to offer top-notch amenities at its recently developed office buildings. In the first quarter of 2025, for its Manhattan portfolio, SL Green signed 45 office leases encompassing 0.6 million square feet of space. Additionally, the company maintains a diversified tenant base to hedge the risk associated with dependency on single-industry tenants. As of March 31, 2025, except for Paramount Global, which accounted for 5.4% of the company's share of annualized cash rent, no other tenant in the company's portfolio accounted for more than 5% of its share of annualized cash rent, including its share of joint venture annualized cash rent. Moreover, with long-term leases to tenants with strong credit profiles, the REIT is well-poised to generate stable rental revenues over the long term. SL Green has been following an opportunistic investment policy to enhance its overall portfolio quality. In the first quarter of 2025, the company closed on the sale of six Giorgio Armani Residences at 760 Madison Avenue, generating net proceeds of $93.3 million. Over the years, the large-scale suburban asset sale has helped it narrow its focus on the Manhattan market as well as retain premium and highest-growth assets in the portfolio. Solid dividend payouts are the biggest attraction for REIT investors, and SL Green is committed to boosting shareholder wealth. This office REIT has steadily been paying out monthly dividends. Given the company's solid operating platform, scope for growth and decent financial position compared to that of the industry, this dividend rate is expected to be sustainable over the long run. Amid macroeconomic uncertainty and high competition from developers, owners and operators of office properties, SL Green is offering free rents and concessions to lure tenants, impacting its revenue growth. Moreover, the majority of the company's property holdings consist of commercial office properties situated in midtown Manhattan. SLG also has retail properties and multifamily residential assets in New York City. Therefore, the performance of the company is susceptible to the condition of the New York City economy. Analysts seem bearish on this Zacks Rank #3 (Hold) company, with the Zacks Consensus Estimate for its 2025 FFO per share revised southward by 1.3% over the past month to $5.41. Some better-ranked stocks from the REIT sector are VICI Properties VICI and W.P. Carey WPC,each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. The Zacks Consensus Estimate for VICI Properties' 2025 FFO per share is pegged at $2.34, up 3.54% year over year. The Zacks Consensus Estimate for W.P. Carey's2025 FFO per share is pegged at $4.88, up 3.83% year over year. Note: Anything related to earnings presented in this write-up represents funds from operations (FFO), a widely used metric to gauge the performance of REITs. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report SL Green Realty Corporation (SLG) : Free Stock Analysis Report W.P. Carey Inc. (WPC) : Free Stock Analysis Report VICI Properties Inc. (VICI) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
National Post
a day ago
- Business
- National Post
Dream Office REIT Announces June 2025 Monthly Distribution
Article content TORONTO — DREAM OFFICE REIT (TSX: ('Dream Office' or the 'Trust') today announced its June 2025 monthly distribution of 8.333 cents ($1.00 annualized) per REIT Unit, Series A ('REIT A Units'). The June distribution will be payable on July 15, 2025 to unitholders of record as at June 30, 2025. Article content Dream Office REIT is an unincorporated, open-ended real estate investment trust. Dream Office REIT is a premier office landlord in downtown Toronto with over 3.5 million square feet owned and managed. We have carefully curated an investment portfolio of high-quality assets in irreplaceable locations in one of the finest office markets in the world. For more information, please visit our website at Article content Article content Article content Article content Article content Article content Contacts Article content For further information, please contact: Article content Michael J. Cooper Chairman and Chief Executive Officer (416) 365-5145 mcooper@
Zawya
3 days ago
- Business
- Zawya
Henderson Land Sets Record for Central's Largest Single Office Lease
New Central Harbourfront Site 3 Project Leases Over 70% of Phase 1 Office Premises HONG KONG SAR - Media OutReach Newswire - 18 June 2025 - Henderson Land Development Company Limited ("Henderson Land" or "The Group") (Stock code 12) is delighted to announce that, through its subsidiary, it has entered into an Agreement for Lease with Jane Street, a quantitative trading firm and liquidity provider, as the first anchor tenant of the Group's latest New Central Harbourfront flagship development project. Jane Street will occupy over 223,000 square feet across six floors, leasing over 70% of the development's Phase 1 premium office and ancillary space. The signing of the lease is nearly two years ahead of the anticipated handover in early 2027. This lease marks the largest single office leasing transaction for Hong Kong's Central Business District in decades. Chairman of Henderson Land, Dr. Martin Lee Ka-shing, said: "We are proud to welcome Jane Street to our New Central Harbourfront flagship development project." He added, "Deeply rooted in Hong Kong, our Group is committed to advancing the city's core districts, and this anchor tenancy reinforces Hong Kong's unrivalled position as an international financial powerhouse. This development will reinvent Central by connecting the multi-worlds of retail, culture and commerce with nature and entertainment. Fuelled by the passion of our talented teams, we are confident that this global development will connect Hong Kong to the world stage, forging a bold new chapter for the city's future." The New Central Harbourfront project spans over 1.6 million square feet of gross floor area. This transformative project will not only redefine the city's iconic skyline, but also elevate Central as a cutting edge, vibrant global district. The 400 meter-long development includes 700,000 square feet of office and ancillary space that offers the largest premium Grade-A Office floor plates in Central, 900,000 square feet of retail space and the first Broadway-calibre theatre in Central. Inspired by a concept of "The Bridge", this people-centric development is a superconnector that seamlessly bridges Hong Kong and the world, enhances connectivity in Central and fosters integration with its surroundings – strengthening synergies between urban and nature, commerce and culture. The development provides an unprecedented 300,000 square feet of green and open spaces, including a rooftop garden for public enjoyment. It links Central district's vibrancy to the waterfront and the iconic Victoria Harbour, forming the new heart of Central. The site will unfold in two phases, with Phase 1 set for completion in the fourth quarter of 2026, and Phase 2 in 2032. Two years ahead of its first phase opening, the project has earned the highest standard industry certifications for its sustainability-focused architectural design, including awards and accreditations from LEED, BEAM Plus, WiredScore, Construction Industrial Council (CIC), Green Business Certification Inc., The Hong Kong Institute of Surveyors and Hong Kong Green Building Council. Hashtag: #HendersonLand The issuer is solely responsible for the content of this announcement. About Henderson Land Group Founded in 1976 and listed in Hong Kong since 1981, Henderson Land Development Company Limited (Stock code: 12) is a leading property group, focusing on Hong Kong and mainland China. Henderson Land is carrying on its legacy into the future, curating a property portfolio that grows from strength to strength and encompasses award-winning landmark projects such as the International Finance Centre complex and The Henderson. In addition to its core business in property development and property investment, the Group holds strategic investments in two listed subsidiaries (namely, Miramar Hotel and Investment Company Limited and Henderson Investment Limited) and three listed associates (namely, The Hong Kong and China Gas Company Limited (which in turn has equity stakes in a listed subsidiary, Towngas Smart Energy Company Limited), Hong Kong Ferry (Holdings) Company Limited and Sunlight Real Estate Investment Trust). Henderson Land is dedicated to the long-term commitment of sustainability and is a pioneer in green building and sustainable practices, which harness innovation and technology to create new, smarter living. The Group is also a strong advocate of social responsibility and invests in a broad range of community causes and initiatives. For more information, please visit About Jane Street Jane Street is a global quantitative trading firm and liquidity provider with expertise in a wide range of financial products, including ETFs, equities, futures, commodities, options, bonds, and currencies. Founded in 2000, Jane Street has offices in New York, London, Hong Kong, Amsterdam, and Singapore. Jane Street's global footprint allows it to make markets continually on more than 200 electronic exchanges and other trading venues in more than 45 countries around the world. Henderson Land Development Company Limited
Malay Mail
3 days ago
- Business
- Malay Mail
Henderson Land Sets Record for Central's Largest Single Office Lease
New Central Harbourfront Site 3 Project Leases Over 70% of Phase 1 Office Premises Aerial view of the project from Connaught Road to the harbourfront HONG KONG SAR - Media OutReach Newswire - 18 June 2025 - Henderson Land Development Company Limited ("Henderson Land" or "The Group") (Stock code 12) is delighted to announce that, through its subsidiary, it has entered into an Agreement for Lease with Jane Street, a quantitative trading firm and liquidity provider, as the first anchor tenant of the Group's latest New Central Harbourfront flagship development project. Jane Street will occupy over 223,000 square feet across six floors, leasing over 70% of the development's Phase 1 premium office and ancillary space. The signing of the lease is nearly two years ahead of the anticipated handover in early 2027. This lease marks the largest single office leasing transaction for Hong Kong's Central Business District in of Henderson Land, Dr. Martin Lee Ka-shing, said: "We are proud to welcome Jane Street to our New Central Harbourfront flagship development project." He added, "Deeply rooted in Hong Kong, our Group is committed to advancing the city's core districts, and this anchor tenancy reinforces Hong Kong's unrivalled position as an international financial powerhouse. This development will reinvent Central by connecting the multi-worlds of retail, culture and commerce with nature and entertainment. Fuelled by the passion of our talented teams, we are confident that this global development will connect Hong Kong to the world stage, forging a bold new chapter for the city's future."The New Central Harbourfront project spans over 1.6 million square feet of gross floor area. This transformative project will not only redefine the city's iconic skyline, but also elevate Central as a cutting edge, vibrant global 400 meter-long development includes 700,000 square feet of office and ancillary space that offers the largest premium Grade-A Office floor plates in Central, 900,000 square feet of retail space and the first Broadway-calibre theatre in by a concept of "The Bridge", this people-centric development is a superconnector that seamlessly bridges Hong Kong and the world, enhances connectivity in Central and fosters integration with its surroundings – strengthening synergies between urban and nature, commerce and culture. The development provides an unprecedented 300,000 square feet of green and open spaces, including a rooftop garden for public enjoyment. It links Central district's vibrancy to the waterfront and the iconic Victoria Harbour, forming the new heart of Central. The site will unfold in two phases, with Phase 1 set for completion in the fourth quarter of 2026, and Phase 2 in years ahead of its first phase opening, the project has earned the highest standard industry certifications for its sustainability-focused architectural design, including awards and accreditations from LEED, BEAM Plus, WiredScore, Construction Industrial Council (CIC), Green Business Certification Inc., The Hong Kong Institute of Surveyors and Hong Kong Green Building #HendersonLand The issuer is solely responsible for the content of this announcement. About Henderson Land Group Founded in 1976 and listed in Hong Kong since 1981, Henderson Land Development Company Limited (Stock code: 12) is a leading property group, focusing on Hong Kong and mainland China. Henderson Land is carrying on its legacy into the future, curating a property portfolio that grows from strength to strength and encompasses award-winning landmark projects such as the International Finance Centre complex and The Henderson. In addition to its core business in property development and property investment, the Group holds strategic investments in two listed subsidiaries (namely, Miramar Hotel and Investment Company Limited and Henderson Investment Limited) and three listed associates (namely, The Hong Kong and China Gas Company Limited (which in turn has equity stakes in a listed subsidiary, Towngas Smart Energy Company Limited), Hong Kong Ferry (Holdings) Company Limited and Sunlight Real Estate Investment Trust). Henderson Land is dedicated to the long-term commitment of sustainability and is a pioneer in green building and sustainable practices, which harness innovation and technology to create new, smarter living. The Group is also a strong advocate of social responsibility and invests in a broad range of community causes and initiatives. For more information, please visit About Jane Street Jane Street is a global quantitative trading firm and liquidity provider with expertise in a wide range of financial products, including ETFs, equities, futures, commodities, options, bonds, and currencies. Founded in 2000, Jane Street has offices in New York, London, Hong Kong, Amsterdam, and Singapore. Jane Street's global footprint allows it to make markets continually on more than 200 electronic exchanges and other trading venues in more than 45 countries around the world.
Bloomberg
06-06-2025
- Business
- Bloomberg
HSBC's Desk Shortage Prompts Bank to Eye New Canary Wharf Office
By , Jack Sidders, and Natasha Voase Save HSBC Holdings Plc is in talks to lease several floors near its current headquarters in London's Canary Wharf as the bank grapples with a looming shortfall of several thousand desks in the offices it's moving into next year. The bank has put in an offer to take all of the empty space at 40 Bank Street in Canary Wharf, people with knowledge of the discussions said, asking not to be identified discussing non-public information. The bank has also considered retaining some satellite offices it had planned to give up in order to address the shortage.
