Law Firm Proskauer Rose Expands to 478K SF at SJP’s 11 Times Square
Why this matters
Commercial real estate continues to digest a multi-year reset in cost of capital. Transaction velocity is below the 2019-2021 trend but improving, cap rates have stabilized across most stabilized property types, and the bid-ask gap has narrowed materially in the past two quarters. Sponsors with permanent capital and operating platforms have an advantage in the current execution environment. The next twelve months will continue to reward underwriting discipline and operational sophistication over balance-sheet aggression.
Editorial analysis · Real Estate Trail Editorial
Global law firm Proskauer Rose has added roughly 60,000 square feet to its more than 14-story footprint at 11 Times Square . The longtime anchor tenant’s expansion spans floors 31 and 32 of SJP Properties ’ 1.1 millio…
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