Deals
Feil Organization Inks 70 KSF NYC Office Lease
Cornell University will lease space on four floors at 570 Lexington Ave., totaling 15 percent of the building’s total gross leasable area and bringing the asset’s occupancy to 96 percent.
LakePharma Buys 69 KSF Building in MA
The property is located in Hopkinton, 35 miles east of downtown Boston. LakePharma will remodel the existing infrastructure to accommodate its manufacturing needs.
ESRT Signs Full-Floor Lease at Manhattan High-Rise
The firm’s high-rise features more than half a million square feet of office space above nearly 20,000 square feet of street-level retail.
Hyatt to Shed 3 Properties in $1B Deal
The sale of Grand Hyatt San Francisco and two resorts to Host Hotels is tied to the company’s sell-down and asset-recycling programs. Hyatt will continue to manage all three assets.
Sterling Bay Buys Chicago Office Tower for $510M
In its largest purchase ever, the REIT snapped up the 1.6 million-square-foot 600 W. Chicago Ave., home to Groupon’s headquarters, from Equity Commonwealth.
Strategic Storage Growth Trust Expands FL Portfolio
The firm has purchased a 695-unit storage facility in Review, Fla. Marcus & Millichap brokered the sale of on behalf of both parties.
Oil Manufacturer Inks 55 KSF CA Lease
The firm, Sunset Olive Oil, will create 20 jobs through at its facility in Montebello, Calif. DAUM Commercial has arranged the leasing transaction on behalf of the landlord, Emery Investments.
Bellomy & Co. Completes Sale of Dallas Storage Facility
The firm represented the seller, Platinum Storage Group, and procured the buyer. The facility comprises a total of 1,111 units.
Hersha Sells 2 Suburban Hotels in MD, NY
The hotels are located on the outskirts of New York City and Washington, D.C. Hyatt House in Gaithersburg, Md. and Holiday Inn Express in Chester, N.Y. traded for a total of $27.4 million.
JV Acquires Phoenix Office Asset
Totaling more than 250,000 square feet, the three buildings in the city’s Black Canyon Corridor submarket fetched a sale price of nearly $35 million.