Paramount Global Seeking Partner, Not Buyer, To Redevelop CBS Broadcast Center

On the heels of a challenging year for life sciences, Alexandria Real Estate Equities is pushing forward with plans to sell some of its properties, the continuation of a strategy that has helped the firm narrow its focus on its so-called megacampuses and the revenue they generate.

Alexandria will continue its extensive property sales and asset recycling program, which yielded $1.4B in 2023 as well as $461M in total impairment charges. Among the sales will be a 42nd Street asset in New York City, acquired in 2018 and leased to Pfizer through mid-2024, Chairman Joel Marcus said during the company’s Q4 earnings call Tuesday. 

Pfizer moved to another HQ site in New York, and ARE decided to forgo a contemplated redevelopment of the building, due in part to “an abundance of prudence,” a series of “challenging state and local governmental policies,” and the state of the city’s life sciences market, Marcus said. The statement,…

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The planned $82M sale of a Miami Beach office building owned by Nightingale Properties has failed to close, sparking a court battle between the embattled developer and the planned buyers.

The dispute rose to the surface just as CEO Elie Schwartz began repaying $53M in funds he misappropriated from two crowdfunding campaigns, including one at the Miami Beach building at 1601 Washington Ave. The sale was a key cog in his plan to repay investors.

Nightingale filed suit earlier this month in the 11th Judicial Circuit Court for Miami-Dade County, alleging that it is entitled to a $2M deposit because the Miami-based buyers, Black Lion Partners and Massa Investment Group, failed to close on the deal by the contractual deadline.  Black Lion and Massa filed a…

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When McDonald’s opened the first location of CosMc’s in suburban Chicago in December, 22-year-old food TikToker Nicole Ludwig was one of the first to grab a phone and document the new concept restaurant aimed squarely at young Americans for the masses. 

Ludwig, whose more than 175,000 TikTok followers enjoy her daily food content, is a part of an ecosystem of young influencers tapped into the latest food trends and driving conversation around them. The four videos Ludwig posted on TikTok, reviewing CosMc’s specialty beverages, coffees and snacks on Dec. 12, have over 2 million combined views.

"I posted and a lot of people were like 'I want to try this,'" Ludwig said. "A lot of people actually didn't even know about it."

Largely fueled by social media, CosMc's is a hit. Lines are reportedly two to three hours long for specialties like the Sour Cherry Energy Burst, Turmeric Spiced Latte, S’Mores Cold Brew and Creamy Avocado Tomatillo sandwiches, and McDonald’s plans to roll out the drive-thru-only concept to nine more markets this year, starting with…

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