Business Specialties
Manhattan Multi-Family Sales Jump in First Quarter
According to Ariel Property Advisors’ “Multi-Family Quarter in Review: New York City” report, New York multi-family sales increased 34 percent in the first quarter of 2012.
NYC's 530 Fifth Gets Upgrade, Shows Retail Demand Continues to Expand
The new owners of 530 Fifth Ave. in Manhattan are targeting fashion tenants as they upgrade and reconfigure the building’s retail spaces — and are riding the crest of a wave that shows the world-famous corridor is once again seeing rising rents for the sector.
Taubman Announces Construction of $315M, 880 KSF Mall in Sarasota
Taubman Centers, in conjunction with Benderson Development, will begin construction on the 880,000-square-foot Mall at University Town Center in Sarasota. The retail complex, which will cost an estimated $315 million, will feature Saks Fifth Avenue, Macy’s and Dillard’s among its approximately 115 stores.
Clarion Buys 1600 Seventh Ave. Tower in $137M Sale-Leaseback
By Alex Girda, Associate Editor In a $137 million sale-leaseback deal, Clarion Partners L.L.C. has taken ownership of 1600 Seventh Ave., a 598,000-square-foot office tower in Downtown Seattle. CenturyLink, the telecommunications company formerly known as Qwest Communications, sold the property it has occupied for 36 years and will remain in 260,000 square feet of the tower. A team from […]
StonebridgeCarras, PN Hoffman, Northwestern Mutual Begin Construction on $200M Mixed-Use Project in Maryland
Four months after StonebridgeCarras and PN Hoffman formed a joint venture with Northwestern Mutual to develop a $200 million mixed-use property on the 3.3-acre parcel known as Lot 31 in Bethesda, Md., the site has kicked off construction.
Downtown NYC Hotel Site Sells for $28M; $70M Development Planned
A 6,160-square-foot development site at 133-135 Greenwich St. in Downtown Manhattan has been purchased by Hidrock Realty for $28 million, and the new owner plans to develop a 28-floor, 300-room hotel at the cost of $70 million.
GlenStar, USAA Spend $152M for Chicago Board of Trade
Two of the three buildings that comprise the Chicago Board of Trade complex at 141 W. Jackson have been sold to a joint venture of GlenStar Properties L.L.C. and USAA Real Estate Co. for approximately $151.5 million.
Normandy Real Estate Partners Buys 280 KSF Times Square South Asset
In the most recent development for the Times Square submarket of Midtown Manhattan, Normandy Real Estate Partners has acquired the 280,000-square-foot, 17-story office building at 1370 Broadway for a reported $125 million.
Arrow Operating Acquisitions Purchases 700 KSF Suburban Chicago Retail Asset
Arrow Operating Acquisitions has just purchased The Streets of Woodfield, a 700,000-square-foot shopping center in Schaumburg, Ill., and the company was able to secure a $100 million loan to seal the $118 million deal.
Capri Capital Nabs '360 Residences' Mixed-Use Project in San Jose for $118M
360 Residences, a mixed-use apartment high-rise in downtown San Jose, has come under the ownership of Capri Capital, courtesy of a $118 million transaction. Capri purchased the upscale multi-family property from SJ Real Estate Partners, a subsidiary of Kennedy Wilson.