Business Specialties
Faris Lee Secures Buyer for OC Mixed-Use Asset
Raintree Evergreen LLC acquired the 14,900-square-foot retail and office property in Dana Point, Calif., for $6.6 million, which represents a 5.5 percent cap rate.
LandCap Plans Mixed-Use Project for San Diego’s Mission Valley
Latitude 33 and Tucker Sadler Architects have received the approval for the development of 319 units over two stories of parking and six retail units. The project is slated for completion in mid-2019.
Glimcher Group Expands Ohio Footprint
The company purchased the 95,446-square-foot North Olmsted Towne Center for $15.9 million from Norcar Co. LLC. The retail center comprises four buildings, with tenants such as David’s Bridal and Party City.
Avison Young to Lease Thor Equities’ NYC Office Portfolio
A five-broker team fronted by Avison Young’s Arthur Mirante II and John Ryan III will co-handle leasing and marketing operations for the Class A and B properties.
Mizuho Consolidates NYC Offices on Avenue of the Americas
The Japanese bank will relocate its U.S. headquarters to the Rockefeller Group’s recently redeveloped 1271 Avenue of the Americas in Manhattan. The firm plans to occupy 148,000 square feet on the building’s below-grade, second and third floors.
Premier Redevelops Chicago Freezer Facility
The 110,439-square-foot space is an expansion to an existing cold storage facility part of a 55-acre business park in Northlake, Ill.
Newmark Secures $68M Financing for Silicon Valley Assets
The recent long-term financing for two office properties and a big-box retail center brings the firm’s debt transaction volume in these submarkets to $157 million in 2017.
Natixis Scores $39M Loan for Hyatt Acquisition
The Excel Group received a $39 million loan for the acquisition of 200-key Hyatt Place Washington DC/US Capitol, located in the NoMa neighborhood of Washington, D.C.
Aldi Plans $3.4B Growth Spurt
The German discount grocery chain intends to open 900 additional locations in the U.S., increasing its footprint to 2,500 stores by 2022.
CBRE Secures 1031 Exchange Buyer for LA MOB
The 18,984 square-foot property changed hands for $5.4 million and is fully leased on a long-term basis to Avanti Hospitals.