Deals
Madison International Buys Forest City Retail Stake for $1B
The company, which already owns a 49 percent stake in the New York City properties, is acquiring the remaining 51 percent interest from Forest City Realty Trust.
Philly-Area Gateway at Greenway Park Tops Out
The mixed-use project in Bethlehem, Pa., will include a 600-space parking, office and retail space. St. Luke’s University Health Network and Lehigh University are among the building’s anchor tenants.
San Diego Office Property Gets New Owner After 60 Years
Kennedy Wilson represented the seller of the leasehold interest in the property and the buyer of the fee interest in the land. The Little Italy asset traded hands for the first time in 63 years.
Starwood, Trinity, Vanderbilt Sell Big in NC
The JV purchased a seven-property portfolio completed in the 1990s and early 2000s which is currently about 91 percent leased to a STEM-heavy tenant roster. HFF marketed the offering on behalf of the seller and procured the buyer.
Life Storage Picks Up 3 Atlanta Self-Storage Facilities
The Space Shop Self Storage sold by Stein Investment includes a redevelopment in Cumming, Ga., and creative infill in the Old Fourth Ward District in Atlanta.
Newport Beach Office Tower Trades for $76M
American Realty Advisors sold 4100 Newport, a 190,400-square-foot office tower in Orange County, Calif., to Olen Properties in a transaction that’s been deemed the area’s largest office sale by price per square foot.
Cushman & Wakefield Arranges New Leases at FL Business Center
The new tenants of Port 95 Business Center in Dania Beach, Fla., will boost the building’s occupancy to 92 percent. The leases total 47,182 square feet.
InvenTrust Acquires $115M LA Shopping Center
The 275,000-square-foot River Oaks shopping plaza features tenants such as Target, buybuyBaby, Total Women Gym & Spa, Big 5 Sporting Goods, Sprouts, ULTA and Pier 1 Imports.
Foreign Investor Gets Hospitable in Houston via CBRE
Canadian investment group Prime Developments closed its second value-add hotel acquisition in the Houston area, with the purchase of Holiday Inn Express & Suites Houston East in Baytown, Texas.
CIM Group Snags Boston Office Property
The company has partnered with longtime owner and manager Nordblom to acquire 1000 Washington St., a 242,000-square-foot building and adjacent parking garage in the city’s South End.