1. 1301 Sixth Ave. signed leases with Piper Sandler and Adler & Stachenfeld. 2. Paramount’s New York portfolio is 88.1% leased, highest since early 2022. 3. Paramount is spending $250 million to modernize vacant 60 Wall St. 4. Showtime Networks will vacate 260,000 square feet next year at 1633 Broadway. 5. Asking rents at 1633 Broadway are expected between $70 to $90 per square foot.
The significant lease agreements with high starting rents suggest robust demand for office space, potentially improving PGRE's overall valuation. Additionally, the high occupancy rate in Paramount's portfolio signifies strong market recovery.
The article showcases strong leasing agreements and occupancy trends that could influence investor perception and stock performance for PGRE positively.
Immediate leasing activity at 1301 Sixth Ave. and 1633 Broadway can lead to quick revenue increases for PGRE, especially with positive market sentiment around commercial real estate.