Deals
Finmarc Nabs VA Shopping Center
Festival at Manassas, an 117,000-square-foot shopping center in Manassas, Va., traded for $20 million. Bill Kent of CBRE represented the seller, Katz Properties.
CBRE Arranges Sale of San Diego Office Building
Washington Capital Management sold a 40,000-square-foot office building in San Diego for $12.5 million. At the time of sale, the property was fully leased by the University of Southern California.
Ashford Prime Extends Ground Lease for San Diego Hilton
The company has extended the lease at the 394-key property by 24 years, with a new expiration date in 2067. The agreement also provides for a further extension opportunity.
Mountain Development Grabs Premier Office Building in NJ
The firm has expanded its local footprint with the acquisition of a 170,000-square-foot, Class A office asset in New Providence, N.J. , which was previously owned by Pitcaim Properties.
Everest Snags $58M Medical Office Portfolio
The real estate company partnered with a major pension fund to acquire four properties in Sugar Land and Richmond, Texas.
Hines, Henderson Park Enter Hotel Market in Greece
The joint venture paid $37 million to acquire Athens Ledra Hotel, an eight-story, 315-key property at 115 Syngrou Ave. in central Athens.
NAI Miami Secures Lease at Pinecrest Village Plaza
Edward Schmidt and Timothy Merriman represented the landlord in the lease negotiations. The new space provides the tenant with a new open showroom.
Missner Invests in Ill.-Based Corporate Grove Business Park
The company acquired a fully leased 121,000-square-foot industrial facility in Buffalo Grove, Ill., and plans to use it as investment property.
Summit Hotels Lands $53M Courtyard by Marriott in Charlotte
The acquisition marks the company’s first purchase in the Charlotte, N.C., market. Summit Hotels also entered into an agreement with OTO Development to manage the 118-key hotel.
Griffin Industrial Nabs First Charlotte-Area Property
The company purchased a 277,000-square-foot industrial building for $18.6 million. The Class A warehouse is currently 74 percent leased.