Business Specialties
JLLIPT Buys 442 KSF, Class A Industrial Building in Joliet, Ill.
A 442,484-square-foot, Class A industrial building in the I-80 corridor of Joliet, Ill., attracted numerous bidders when its institutional seller put it on the market, but Jones Lang LaSalle Income Property Trust came away with the fully leased distribution center at 3500 Corporate Drive.
JRK Buys 714-Unit M-F Property in Tacoma for $65M
JRK Investors has snapped up Tacoma, Washington’s largest apartment property, the 714-unit The Westridges, in a transaction valued at $64.5 million.
Chinese Developer Breaks Ground on World’s Tallest Building, Despite Skepticism Surrounding Project
One of the more puzzling high-profile development projects in recent years is reportedly still on track after China Broad Group held a groundbreaking event for its world’s tallest building plan.
$350M Phoenix-Area M-U Project to Combine Hotel, Office, Retail—Basketball?
A purpose-built entity of experienced players has been tapped as the developer of a $350 million mixed-use project on 10.5 acres of Arizona State University land adjacent to the school’s main campus in Tempe.
Hyatt to Partner with Playa Hotels & Resorts, Add All-Inclusive Resorts to Portfolio
A wholly owned Hyatt subsidiary intends to form a partnership agreement with Playa Hotels & Resorts B.V. and enter the all-inclusive resort segment.
Hudson’s Bay’s Saks Buy More About RE or Retailing?
When it raised the possibility of creating a REIT, assuming its proposed $2.9 billion merger with Saks Inc. goes through, Hudson’s Bay Co. also raised the question of whether the acquisition is more about the retailing or more about the real estate?
Eastdil Gets $100M in Financing for Meridian’s Purchase of 3 Class A Office Towers
Eastdil Secured arranged more than $100 million in financing for The Meridian Group’s acquisition of three Class A office towers owned by Science Applications International Corp. in the Northern Virginia submarket of Tysons Corner.
Shanghai Greenland to Buy Stake in M-U Downtown LA Project, Invest $1B
China-based Shanghai Greenland Group will acquire an interest in Metropolis from CalSTRS and invest $1 billion in the project, which is entitled for nearly 1.7 million square feet of mixed-use development.
Cobalt Sells 1.4 MSF Dallas Industrial Portfolio
Cobalt Capital Partners, advisor to Cobalt Industrial REIT, has sold a 14-building, 1.4 million-square-foot industrial portfolio in Dallas to a Greenfield Partners investment fund.
$3B Merger Saves Saks, Gives Canadian Co. Greater Growth in U.S.
Combined companies Saks Inc. and Hudson’s Bay will operate 320 stores, and possibly create a REIT.