Allison Landa
Grubb & Ellis Buys Parkway Medical Center
Grubb & Ellis Healthcare REIT II, Inc. on Wednesday announced that it has acquired Parkway Medical Center, an 88,000 square-foot, two-building medical office portfolio in the Cleveland suburb of Beachwood.
Simon Offers $2.5B to Match Brookfield Bid for General Growth
In a continuation of the bidding war for bankrupt retail REIT General Growth Properties, Simon Property Group, Inc. on Thursday sent a letter offering to invest $2.5 billion in a General Growth reorganization at the same per share price as the reorganization plan proposed by Brookfield Asset Management.
Economy Watch: Bankers Tell Congress They Don’t Like Mortgage Modifications
A variety of bankers–mortgage execs from Bank of America, Citigroup, JPMorgan Chase and Wells Fargo, for instance–put on their best Milton Drysdale faces on Tuesday and told the U.S. House Financial Services Committee that principal reduction for underwater mortgages is a bad idea.
Former Legg Mason Tower in Baltimore Gets New 94,200-SF Tenant
Law firm Ober|Kaler has just committed to 94,000 square feet at Legg Mason’s onetime home at 100 Light Street, soaking up a noteworthy chunk of the available space at the 520,000-square-foot, Class A office tower.
Richards Barry Joyce Brokers 100,000 SF Lease Renewal for TA Associates
Commercial real estate advisory firm Richards Barry Joyce & Partners LLC said Tuesday that it represented TA Associates Realty in a 100,884 square-foot lease renewal with Dynagraf, Inc. in Canton, Mass.
JV’s $300M Development of 23 Canadian Travel Centers Underway
Bethesda, Md.-headquartered HMSHost Corp., alongside joint venture partner Toronto, Ont.-based Kilmer Van Nostrand Co. Ltd., is developing 23 travel and service centers along two busy Canadian highways for the Province of Ontario.
Economy Watch: SF Unveils Green Loans for RE
The city of San Francisco kicked off a program on Monday to offer loans to both residential and commercial property owners to do green retrofits of various kinds.
Hotel Impresario Ian Schrager Grabs Chicago’s Landmark Ambassador East Hotel, Plans Extensive Renovations for Property
Celebrated boutique hotel inventor Ian Schrager plans to leave his indelible mark on the Chicago hospitality market with his recent acquisition and planned renovation of the historic Ambassador East Hotel.
Angelo, Gordon Completes $18.1M Sale-Leaseback with Claire’s Stores
As part of a slate of distressed-asset transactions currently taking place in the market, alternative investment firm Angelo, Gordon & Co.’s net lease group has acquired the headquarters and sole North American distribution center of fashion retailer Claire’s Stores, Inc.
Economy Watch: Retailers Anticipating Growth?
There’s some indication, including the strong retail numbers in March, that the retail industry is emerging from its coma.