Business Specialties
Cole Real Estate Takes a Piece of Chattanooga-Area Shopping Center
Cole Real Estate Investments has purchased 153,000 square feet in the Cleveland Towne Center in Tennessee from a joint venture composed of Batson-Cook Development and Warren Commercial.
Digital Realty Trust Spends $148M on Data Centers in San Francisco, Atlanta
For a purchase price of $85 million, Digital Realty Trust Inc. has become the new owner of San Francisco’s 360 Spear St., and for an additional $63 million, the company picked up a data-center facility next to Atlanta’s Hartsfield-Jackson Airport.
LaSalle Hotel Properties Buys Park Central Hotel
Six months after announcing plans to purchase the Park Central Hotel in Midtown Manhattan, LaSalle Hotel Properties has wrapped up the acquisition of the 934-room property in a transaction valued at $396.2 million.
Vornado Nets $126M in 11 Penn Plaza Refi
Vornado Realty Trust rang out the old year by completing a $330 million refinance for 11 Penn Plaza, a 1.1-million square-foot office building in Manhattan.
Building and Land Technology Picks up 614 KSF Stamford Office Complex
Building and Land Technology, one of the largest property owners in Connecticut’s Fairfield County, has just acquired 695 E. Main St. in Stamford. The new owners will be renaming the 614,000-square-foot office complex the BLT Financial Center.
Covenant Retirement Communities Achieves $59.1M in Financing
Ziegler has facilitated a tax-exempt bank direct purchase on behalf of seniors housing company Covenant Retirement Communities. The direct purchase came in the form of two series of bonds totaling approximately $59.1 million and representing the first multi-state bond issuance by the Illinois Finance Authority.
Fashion Retailer Leases 218 KSF in Houston
Francesca’s Holdings Corp., the company behind the Francesca’s Collection fashion boutiques, has signed a lease for 218,000 square feet to consolidate its corporate headquarters and distribution facility “back under one roof” in Houston.
2012 Forecast: Partly Cloudy With a Chance of Improvement
CPE offers a snapshot of forecasts for the new year, portraying the likely trends that will shape commercial real estate in 2012.
Economy Watch: U.S. Still Tops with Foreign Investors; Markets Stay Calm
The United States remains the No. 1 choice for crossborder investors in commercial real estate, but its popularity has slipped somewhat. And markets worldwide took it easy yesterday.
CPE's Top 11 in '11
Taken as a whole, 2011 was something of a tumultuous year, but an interesting time for commercial real estate. CPE presents our top 11 stories from 2011.