Business Specialties
Pop-Up Shops Going Global
The effects of e-commerce on brick-and-mortar are on the rise and players from both sides of the line are increasingly turning to popup space. CPE talked to Patrick Burkert, co-founder & CMO of Go—PopUp, about the niche’s relationship with classic real estate and about the future of the field.
Allianz, Columbia Team Up on $421M DC Purchase
HFF represented seller PGIM Real Estate and procured the buyer. The 10-story, LEED Gold-certified 1800 M St., N.W., is currently 94 percent leased to 34 tenants and features below-grade parking and ground-floor retail.
EU Green Building Spendings to Reach $112B by 2026
According to Navigant Research’s new report, Europe will invest a great deal in intelligent digital building technologies to remain successful in reaching efficiency goals. Examining eight commercial building types, the study covers seven product categories.
Columbia Expands NYC Portfolio With $514M Office Buy
Neither of the buildings in the portfolio has any near-term capital needs, both being fully and attractively renovated in recent years. 245-249 W. 17th St. and 218 W. 18th St. house the headquarters of Twitter and Red Bull, along with several other tenants.
Grander Capital Buys into MA Office Campus
A joint venture between Grander Capital Partners and North Colony Asset Management purchased Heritage Point, a 160,912-square-foot building located within the Heritage Landing office campus in Quincy, Mass.
Howard Hughes Unveils Las Vegas Ballpark Plan
The company will develop the stadium at its Summerlin master-planned community. The venue will serve as the home of the Las Vegas 51s baseball team, which is also owned by HHC.
Dropbox Inks Largest Single Office Lease in San Francisco
Kilroy Realty signed the global collaboration platform company to the 750,000-square-foot development, the largest deal of its kind ever executed in the Bay Area.
Phoenix Ritz-Carlton Hotel and Residences Lands $282M
HFF arranged a $210 million senior land and construction loan with Bank of the Ozarks, as well as $72 million in mezzanine financing with Starwood Property Trust Inc.
CIT to Leave Reverse Mortgage Business
The sale of Financial Freedom, CIT’s reverse mortgage servicing business, and its $900 million portfolio is expected to close in the second quarter of 2018.
TA Realty Snaps Up Ft. Lauderdale-Area Facility
The business park is close to major Florida thoroughfares and is 100 percent leased to a mix of notable tenants.