Nicholas Ziegler
Phillips Edison, CBRE JV to Purchase $200M of Grocery Assets
Phillips Edison, a shopping-center REIT, and CB Richard Ellis have jointly invested $102 million in equity for the purchase of grocery-anchored shopping centers nationwide.
MetLife Makes $550M in Loans for Class A Properties in San Fran, D.C.
MetLife has originated a $300 million loan for San Francisco’s Bank of America Center and an additional $250 million in loans for the Washington Square Building in Washington, D.C.
Economy Watch: GDP Revised Upward, Some Good News on Jobs
The Bureau of Economic Analysis announced the U.S. 2Q GDP was an annual increase of 1.3 percent. Jobless claims dropped last week, but housing numbers didn’t budge — and we’re not quite through the storm that has been 2011 yet.
Report: Demand for Tech Fueling Office Recovery
Reports by Jones Lang LaSalle and Cassidy Turley pinpoint one of the brightest spots in the CRE office space: High-tech firms, through venture capital, are creating better-than-average employment numbers.
Witkoff, Morgan Stanley Buy Manhattan’s 1107 Broadway for $191M; Plan Condos
The 305,000-square-foot former office building at 1107 Broadway in Manhattan, formerly the Toy Building North, has come under the ownership of Morgan Stanley Real Estate Investing and The Witkoff Group for $191 million.
Regency Nabs Austin’s 187 KSF Tech Ridge Center
Regency Centers has announced that it closed on the acquisition of Tech Ridge Center, a 187,529-square-foot, 93 percent-occupied shopping center anchored by grocery chain H-E-B.
Economy Watch: Ireland Not Doing Too Badly, Businesses Hungry for Capital Goods
The Irish economy posted a 1.6 percent GDP gain from the first to the second quarter of 2011. Orders for capital goods other than airplanes and military hardware rose by 1.1 percent in August. And Kansas City Fed president Thomas Hoenig retires.
MEPT Spends $217.5M for Chicago’s 200 W. Madison
Multi-Employer Property Trust has purchased Chicago’s 45-story 200 W. Madison Ave. from a joint venture that includes Tishman Speyer, Pearlmark Real Estate Advisors L.L.C. and a major U.S. pension plan for approximately $217.5 million.
DDR Spends $85M for 2 Charlotte Retail Centers
Cotswold Village and Terraces at SouthPark, two retail destinations accounting for an aggregate 291,200 square feet, have traded for an aggregate $85 million from the books of Bell Partners onto those of DDR Corp.
$147M Miami Central Station Project Kicks Off
Yesterday marked the groundbreaking of the $147 million, 16.5 acre Miami Central Station, the central hub of the project that is slated to link South Florida’s ground-transport system to the Miami International Airport.