Brokerage
RXR Signs NNN Lease for Manhattan’s 75 Rockefeller Plaza
Big plans are in the works for 75 Rockefeller Plaza in Midtown Manhattan, now that owner 75 Plaza has turned over a leasehold interest to RXR Realty under a 99-year, triple-net-lease agreement, the financial terms of which have not been disclosed.
Digital Realty Acquires Three-Property Data Center Portfolio in Paris for $80M
Digital Realty Trust has acquired a three-property data center portfolio in the Paris area for $80 million. The seller was Bouygues Telecom, France’s third largest telecommunications operator.
Team Gemini Advances $300M Process Complex in Grove City
By Adrian Maties, Associate Editor Team Gemini plans to invest at least $312 million in industrial processing and research facilities near the Franklin County Sanitary Landfill in Grove City, Ohio. The Orlando-based sustainable project design and development company signed 99-year leases with the Solid Waste Authority of Central Ohio on Jan. 8 for two parcels […]
Tishman Speyer Snags 575 KSF Office Lease with French Government
Two French government agencies have signed a lease with Tishman Speyer for the entire 575,000-square-foot, 36-story Tour Esplanade office high-rise in the La Defense district just west of Paris.
Drexel University Signs 185 KSF Lease in Philly
In downtown Philadelphia’s largest office expansion deal of 2012, Drexel University has graduated from 67,000 square feet to 186,000 square feet at Three Parkway.
JV Picks Up 1 MSF Chicago Office Tower in $350M Sale-Leaseback
In what’s being touted by industry leaders as Chicago’s largest office sale in 2012, the 1 million-square-foot office building at 540 W. Madison St. came under new ownership in a $350 million sale-leaseback transaction.
Microsoft Takes 200 KSF at 11 Times Square
Microsoft has committed to a big chunk of space at 11 Times Square with the signing of a new lease for 200,000 square feet at the state-of-the-art, 1.1 million-square-foot office and retail skyscraper.
Caruso Targets a Host of Properties in Central Pacific Palisades for Renovation and Rebranding
The central properties seem to have cost Caruso a total amount in the $40-$50 million range. However, the financial terms of the transaction were not disclosed to the media and an accurate number is currently not available. Most of the properties are currently tenant-free and are 50-60 years old, making them perfect for a complete overhaul. The Times points out that even the tenants in place have clauses in their short-term contracts that stipulate that the owner has the right to modify the property and redevelop the site. Continue reading →
Steelbridge Capital, Apollo Global JV Buys Miami Office Tower
In a JV, Steelbridge Capital and a real estate investment fund managed and advised by affiliates of Apollo Global Real Estate Management have acquired Concorde Centre II, the largest office purchase in Aventura, Fla. this year.
Culver City Creative Office Campus Development Breaks Ground
A new Culver City office campus officially broke ground recently when developer Hackman Capital Partners LLC kicked off the construction of its WorkScapes at the Hayden Tract facility. The project includes the renovation and conversion of three different industrial buildings, operation for which the company has also recently secured a senior loan from Deutsche Bank. The space will be turned into creative offices that would match current market standards for facilities in the Westside. Continue reading →