Brookfield Property Partners LP, the $48 billion business being spun off by its Canadian parent, plans to pursue purchases beyond office and retail, the firm’s past areas of focus, as its access to capital improves.
Brookfield Office Properties Inc. rose the most in 17 months after the landlord said it is negotiating letters of intent with two potential tenants for space at lower Manhattan’s World Financial Center.
The drone of generators fills the silence of lower Manhattan on a weekday afternoon. A newsstand is open at the corner of Wall and Water streets, its main customers now cleanup crews rather than bankers, lawyers and other financial district office workers.
The availability of top-quality office space in Manhattan rose to the highest in almost two decades as a new skyscraper at the World Trade Center site neared completion, according to brokerage Studley Inc.
Deloitte LLP is negotiating with Brookfield Properties Corp. about moving into Merrill Lynch & Co.’s former headquarters building at lower Manhattan’s World Financial Center, two people familiar with the talks said.
Manhattan developers are planning the city’s biggest decade of office construction since the 1980s, betting on rising demand for modern space even with tenants unsigned and the availability of financing more limited.