Business Specialties
42 KSF Self-Storage Facility Opens in MS
Hernando Self-Storage was built in January 2017 and features 329 climate-controlled units. The facility will be managed by Absolute Storage Management.
Summit to Buy Four Hotels for $164M
The company expects to spend approximately $7 million to $9 million in capital improvements over the next two years. This off-market transaction will bring Summit’s year-to-date acquisition activity to nearly $600 million.
Compass Planning 750 KSF NoVA Data Center
The 106-acre site is currently undeveloped, except for two agricultural buildings, a gravel parking area and gravel roads. True North Data is currently awaiting approval from the Loudoun County Board of Supervisors.
Portland’s Tallest Office Tower Changes Hands
Starwood Capital Group has extensive renovation plans for Wells Fargo Center to bring it back to its former status as one of the most iconic Class A office towers in Portland. CBRE and Kidder Mathews will lease the tower.
BoatUS Headquarters Sells in Alexandria, VA
Public Storage has purchased the building for $13.7 million. The firm plans to turn the building into a self-storage facility.
CBRE Adds Tenants to Atlanta Office Center
The latest tenants to join The Towers at Wildwood’s tenant roster are HITT Contracting and Primrose School. Other notable tenants include Thomas Horstemeyer, IBM, The Kellen Co. and General Electric.
Digital Realty to Develop 27mW Campus in Germany
The first of three planned buildings opened on Wilhelm-Fay Street, approximately three miles from downtown Frankfurt. The new site will be connected via dark fiber to Digital Realty’s existing facility in the city.
East Bay Industrial Business Park Changes Hands
Alex. Brown Realty Inc. together with CIP Real Estate have acquired Eden Landing in Hayward, Calif. The joint venture plans to invest $2 million in capital improvements.
Sonnenblick-Eichner Arranges $35M Financing for SoCal Hotels
Comprising 378 guestrooms, the three-asset portfolio was subject to 10-year, fixed-rate loans. Vista Investments previously completed renovations at the properties.
At Long Last, a Measure of Mezzanine Loans
Investors in high-yield real estate now have a way to compare their returns and performance against an industry-standard benchmark, thanks to John B. Levy & Co.’s creation of the first mezzanine loan index.