Eastdil Secured

DPC HoldCo, a Hill City Capital affiliate, won Spirit Airlines' Dania Beach HQ campus for $93.25M cash, above its $88M stalking-horse floor.

Tishman Speyer is asking $450M, or $584/sf, for 6 Grand Central. Its last office trade, CitySpire, closed six months ago at $364/sf.

Delray Beach's Redfearn Capital and TPG AG paid $628M for a 53-building, 5.4M-square-foot industrial portfolio, a new basis print for shallow-bay logistics.

A lender turned owner taking hotel product back to market is a live read on where hospitality basis is resetting.

Related Ross's twin CityPlace office towers are climbing out of the ground, with steel and slab now visible above downtown West Palm Beach's skyline.

The joint venture's own release confirms the price, footprint and lender group. Our math on that release puts the basis at about $169 a square foot.

An owner-user, not a fund, set the benchmark at $215 a foot. That is the trophy-office recovery, such as it is.