Lee & Associates NYC completed a new office lease for Jones Jones LLC at 44 Wall St. in Manhattan’s Financial District.  The law firm signed a 10-year, nine-month lease for 5,311 square feet.

Jones Jones will relocate from its former office at 5 Hanover Square amid the growing number of residential conversions taking place throughout the Financial District, including the planned conversion of 5 Hanover. The firm selected 44 Wall St. to remain in Lower Manhattan, citing the neighborhood’s accessibility, extensive transportation options, dining and retail amenities and strong value proposition for office tenants. 

The landlord was represented by George Comfort & Sons’ Alexander Bermingham.  Tenant representation was handled by Todd Korren and Noah Caspi of Lee NYC. 

“Lower Manhattan continues to attract tenants seeking quality office space at a strong value, particularly as older office properties throughout the neighborhood undergo residential conversions,” said Korren.  “Jones Jones was focused on remaining in the Financial District, and 44 Wall St. offered an ideal combination of location, accessibility and efficiency for the firm’s next chapter.”

Westwood Financial acquired Eastway Square, a 130,156-square-foot grocery-anchored neighborhood center in Charlotte. In addition to Eastway Square, Westwood Financial owns several top-performing grocery-anchored properties in Charlotte, including Prosperity Village Square, Steele Creek Crossing, Steelecroft Shopping Center, and The Arbors at Mallard Creek.

Eastway Square is anchored by Food Lion. Other tenants include Ross, America’s Best, Papa Johns, Subway, WingStop, Rainbow, Dental Works, Hibbett Sports, Showmars, and more. Berkley Capital Advisors facilitated the sale.

Westwood’s Juyuan Wei added, “Grocery-anchored retail continues to thrive, and we’re eager to pursue additional opportunities that strengthen our portfolio.”

As Westwood Financial manages over 125 properties with a dominant presence in the Sunbelt region. Grocers and leading service and experiential-based operators primarily anchor the centers.

The global financial sector is anticipated to grow, not just in 2025 but through 2030. In addition, banks and other institutions plan to boost their workforces by looking for talent with skills in data analytics, AI, cybersecurity, and software engineering. To attract those employees, these companies will upgrade their office designs to improve the workplace experience.

This is one development found in JLL’s just-released “Financial Services Real Estate Trends to Watch” for 2025. Other things to look for include the following.

The Impact of AI and Technology

• According to research, 65% of financial firms have a strategy for AI integration; these companies are developing AI use cases for real estate management. Additionally:

• 67% plan to increase CRE technology spending by 2030

• 62% anticipate their office spaces will be tech-enabled by 2030

The report said that areas likely to see automation include daily occupancy planning, workplace design and fit-out, project design and construction workplace strategy and lease administration.

Changing Demographics and Wealth Management

The report estimates that by 2045, over $84 billion in assets could be transferred from baby boomers to millennials. This means that wealth management firms need to “reimagine spaces for younger clientele. “

Additionally, wealth management centers are blending digital and in-person experiences and expanding into urban cores and suburban markets. The trend also demonstrates ground-floor stand-alone spaces and co-locations with retail branches.

Greater Alignment with Business Demands

“The role of CRE leaders in financial services is evolving from operational tasks to strategic business partnering,” the report explained. As a result, commercial real estate strategies should align with business objectives, including company growth plans, talent strategies and client needs.

Additionally, CRE functions are shifting reporting structures closer to that of operations and human resources. “By successfully navigating challenges like talent shortages and technology implementation, CRE leaders can position themselves as key drivers of innovation and growth,” according to the report.

A Focus on Premium Assets

Anticipated talent growth will likely mean higher portfolio utilization by 203. This will increase the focus on design and employee experience and the demand for high-quality assets in key locations.

However, “firms are encountering difficulties in finding suitable space in gateway markets due to limited supply,” the report said. Because of this, expansions might take place in non-traditional financial hubs.