Business Specialties
Clarion Sells 50% Stake in IN Retail Fund to Inland
Inland Real Estate Corp. acquired the 50 percent ownership stake in IN Retail Fund held by its JV partner, New York State Teachers Retirement System, for $121 million in cash, making it the sole owner of the 2.3 million-square-foot Midwest retail center portfolio.
Federal Capital Partners Buys 240 KSF Durham Office Building in NC
Federal Capital Partners has acquired Erwin Square Plaza, a 238,800-square-foot office and retail building in downtown Durham, N.C.
Pru Lends $73M for Hines’ Purchase of London Office
Prudential Mortgage Capital Co. has provided $73 million in financing for Hines Global REIT’s recent purchase of One Westferry Circus, an office building in London’s Canary Wharf district.
Erwin Square Plaza in Downtown Durham Changes Hands
In a $37.5 million deal, Federal Capital Partners of Maryland has acquired the 10-story Erwin Square Plaza office building in downtown Durham from National Asset Services, Inc. of Los Angeles. Ben Kilgore at CBRE represented the seller in the transaction.
Liberty Property Trust Obtains LEED Certification for Property in Jacksonville
Liberty Property Trust has proudly announced that its 7259 Salisbury Road building has earned LEED certification from the U.S. Green Building Council (USGBC) under the New Construction™ rating system.
Linthicum Finalizes Redevelopment of 95,000-Sq.-Ft. Hotel in Downtown Tucson
Linthicum recently completed the 10-month renovation of the Aloft Tucson University hotel in downtown Tucson, a former Four Points by Sheraton property.
8.4K SF Medical Office Center Nears Completion
A new medical complex is nearing completion on an 8,470-square-foot phase one. Mark Edwards, the leasing agent of the project and president of Edwards Commercial Realty, said the end date for it should be the end of June. Phase two consists of a development of about 7,300 square feet.
JLL Secures $112M in Non-Recourse Financing for Office Complex in Suburban DC
With the assistance of Jones Lang LaSalle’s Capital Markets division, the California State Teachers Retirement System has landed $112 million in financing for Lincoln Place, a 503,800-square-foot office complex in Arlington, Va.
14-Story Office Tower Sold; Energy-Efficient Affordable Housing Opens
Dean Tower, formerly known as the Republic Tower, located on Florida Boulevard at Cloud Drive, has been sold.