Business Specialties
MetLife Sells 50% Stake in Houston’s Wells Fargo Plaza to NY Fund
In a move to “diversify its portfolio,” MetLife Inc. announced that it has completed the sale of a 50 percent interest in Wells Fargo Plaza to New York State Common Retirement Fund.
780 KSF of Bronx Retail, Courtesy of Prestige Properties
In one of New York City’s larger projects this year, Prestige Properties has announced the development of a 780,000-square-foot retail center in the Bronx, to be anchored by a new Macy’s store.
Cleveland State, Co-Developers Break Ground on $50M Mixed-Use
In conjunction with partners Polaris Real Estate Equities and Buckingham, Cleveland State University has begun a $50 million residential project, the largest single such development in the city for more than three decades.
CoreNet Global Special Report: The Office of the Future
The picture of the future that emerged at last week’s CoreNet sessions in Atlanta had a few key themes — mobility, flexibility, technology — and CRE professionals grappled with an industry changing at the speed of light.
DivcoWest, Stockbridge Capital JV on $47M San Diego Office
In a $47 million transaction, DivcoWest and Stockbridge Capital have teamed up to acquire the 160,000-square-foot Genessee Executive Plaza in the University Town Center submarket in San Diego.
Suffolk Construction Awarded Contract for 488 KSF Boston Residential Tower
Suffolk Construction recently received the contract for the 27-story Kensington residential tower in Boston from the building’s owners and partners, Kensington Investment Co. and National Development.
Vornado’s Latest D.C. Deal to Support More Focused Strategy
Vornado Realty Trust has entered into an agreement to acquire Washington, D.C.’s Executive Tower, an 11-story, 130,000-square-foot Class A trophy office building in which it already owns a 2.5 percent stake.
106 KSF Office Lease Signed at NYC’s 452 Fifth Ave.
Law firm Baker & McKenzie has inked a 15-year deal at 452 Fifth Ave., occupying seven floors of the trophy tower owned by IDB Group, for 105,803 square feet of space.
Skanska Begins Construction on LEED Platinum, 302 KSF Houston Office
Skanska will immediately begin construction on a Class A office building in Houston’s Uptown submarket that will be a 20-story, 302,000-square-foot podium design designed to LEED Platinum specifications.
Gotham’s Full-City-Block, Four Building, $520M Groundbreaking in NYC
In one of the largest developments in New York City outside of the World Trade Center site, the Gotham Organization has begun construction on a $520 million residential project that will include more than 1,200 units and a school.