Deals
BB&T, SunTrust Take Big Lease at Charlotte Trophy Tower
With a merger in the works, the financial institutions commit to more than half of Cousins Properties’ 970,000-square-foot Hearst Tower. Also included in the deal: an option to buy the property.
Magnolia Capital JV Buys Nashville Office Portfolio
The two Class B properties traded for $32 million. The buildings add up to more than 125,000 square feet and are located in the Brentwood submarket.
WeWork Takes 89 KSF at Florida’s Tallest Office Building
The lease encompasses four floors at Miami’s Southeast Financial Center and increases the coworking giant’s footprint of existing and planned locations in the city to 750,000 square feet.
Credit Suisse Acquires Austin Office Tower
A partnership of TIER REIT, Invesco and Cielo sold the Class AA asset located in the downtown area. The 29-story property came online earlier this year.
PA Self Storage Asset Trades for $13M
Cushman & Wakefield represented the seller, Vertical Fields, in the disposition of an 82,116-square-foot asset in Clifton Heights. CubeSmart was tapped to manage the facility.
Prime Silicon Beach Office Building Recapitalized
Olive Hill Group has partnered with Artemis Real Estate Partners on a roughly 113,000-square-foot creative office asset in downtown Santa Monica, Calif.
Armada Hoffler to Buy Baltimore Asset for $101M
The REIT will acquire Thames Street Wharf, a trophy office tower along the waterfront in the city’s popular Harbor Point development, from KBS.
HBC Plans $1.5B Sale of German Retail Holdings to JV Partner
The deal comes as HBC and other shareholders, including WeWork Property Advisors, offered a plan to take the Canadian-based retail company private.
DivcoWest JV Sells San Jose Office Asset for $230M
Completed in 1989, the 350,000-square-foot Class A tower last changed hands in late 2015, when it traded for $165.5 million.
Stos Partners Sells Brandywine Distribution Center in San Diego
KKR and Alpha Industrial Properties acquired the 170,011-square-foot multi-tenant asset for $24.4 million. Cushman & Wakefield facilitated the transaction on behalf of the seller.