Nicholas Ziegler
DivcoWest Grabs 170 KSF Class A Building in San Francisco
DivcoWest continues its office property-shopping spree, picking up the 170,200-square-foot building at 701 Gateway Blvd. in South San Francisco. The real estate investment and management firm purchased the Class A property from Broadway Partners.
PCCP Provides $73M in Senior Loans to Three Properties
PCCP has provided approximately $73 million in senior loans, including $46 million to KHP Fund II L.P., a real estate private equity fund sponsored by Kimpton Hotels & Restaurants, to finance the repositioning of two hotels and $27.4 to refinance Millbrae Paradise, a residential development in Millbrae, Calif.
Dorel Renews 528 KSF Industrial Lease in California's Inland Empire
In a deal brokered by services firm Cushman & Wakefield, Dorel Juvenile Group has re-signed for 528,000 square feet of industrial warehouse and distribution space in Fontana, Calif., renewing an arrangement that goes back to 2006.
Inland Buys Shopping Centers in Missouri, Tennessee for $74M
Inland Real Estate Acquisitions has picked up two shopping centers — one located in Branson, Mo., and the other in metro Knoxville, Tenn. — for a combined total of $74 million.
Economy Watch: Construction Falls in February, Rises During Last 12 Months
Domestic construction spending was down slightly in February, but is up 5.8 percent in the last 12 months. The U.S. manufacturing sector expanded in March for the 32nd consecutive month. And while the euro zone suffers with high unemployment, China’s economy saw some encouraging signs.
Lowe to Begin $70M Redevelopment of 13-Story Office Building in D.C. Suburb
Four years after acquiring the property formerly known as 1411 Jefferson Davis Highway in Crystal City, Va., Lowe Enterprises has kicked off a $70 million redevelopment of the building in an endeavor that will become the 308,000-square-foot 1400 Crystal Drive.
BPG's $83M Spend Nets Two Virginia Multi-Family Properties
BPG Properties has made an $83.4 million investment to acquire two multi-family communities in Fredericksburg, Va. Together, the two properties — Greens at Falls Run and Manor at England Run — total 676 units and are 95 percent occupied.
O'Connor Capital, Wafra Purchase Two Retail Centers Totaling 332 KSF
O’Connor Capital Partners and Wafra Investment Advisory Group have joined forces, acquiring The Promenade at Chenal in Little Rock, Ark., and Phase II of Settlers Ridge in metropolitan Pittsburgh, Pa.
KBS REIT Picks Up 522 KSF, Three-Building Dallas Office Complex
In yet another example of REITs getting back in the game, KBS Real Estate Investment Trust III has purchased Town Center Office Park, a 522,043-square-foot, three-building office complex in Dallas’ Plano submarket.
Economy Watch: Consumers Feeling Pretty Good
U.S. consumers were feeling peppy in February, according to the Reuters/University of Michigan consumer sentiment index — and figures from the Bureau of Economic Analysis showed consumers increased spending during the month by 0.8 percent. And Wall Street turned in terrific first-quarter results overall.