Deals
Life Storage Acquires 3-State, 18-Asset Portfolio
The investment trust acquired 1.5 million square feet of self-storage space in Arizona, Nevada and Tennessee. Since the beginning of 2017, Life Storage has purchased 25 assets.
Manhattan’s GM Building Lands $2.3B Refi
Boston Properties has completed a $2.3 billion refinancing of the 50-story, 2 million-square-foot trophy tower. The financing includes interest-only payments and matures in 2027.
Chicago’s Blackstone Hotel Joins Autograph Collection
The Blackstone has found a new home in the Autograph Collection Hotels, given its rich history, exceptional design and iconic reputation. Known as the “Hotel of Presidents” for more than 100 years, the property has hosted U.S. presidents, foreign dignitaries, actors and more than a dozen movie productions.
Friedman Negotiates Illinois Flex Space Lease
Crystal Chem leased the 5,673-square-foot facility in Regent O’Hare business park, close to its main office in Downers Grove.
Las Colinas Mixed-Use Asset Changes Hands
A family trust from North Texas sold a two-building property in Las Colinas, Texas, to Gretzinger Investment Group LLC. Younger Partners negotiated the sale on behalf of the buyer, while Bradford Commercial Real Estate Services represented the seller.
Barclays Nabs Revitalized NJ Office Campus
Long-term tenant Barclays Capital acquired the three-building The Crossings at Jefferson Park in Whippany, N.J, from a joint venture. The complex underwent a three-year multimillion-dollar renovation and features The Powerhouse, an 11,000-square-foot, stand-alone amenities center.
Int’l Recruitment Firm Coming to Philly
Frank Recruitment Group will occupy 21,300 square feet of space at 1801 Market St. where it will establish its regional Pennsylvania headquarters. The company will create 250 jobs for the new office.
Westwood Sells Phoenix-Area Retail Center
Tatum Plaza, a retail center shadow-anchored by Fry’s Food & Drugs, traded for $9.5 million. Westwood acquired the property in 2014 and increased the asset’s net operating income by filling the center with high-profile tenants.
German Fund Enters US Market With Boston Buy
The fund was advised by Northwood Investors. Newmark Knight Franks Boston-based debt team oversaw financing for the transaction and NKF has also been retained as the exclusive leasing and management arm for the property.
PAC Nabs GA Grocery-Anchored Shopping Center
The company’s wholly owned subsidiary, New Market Properties LLC, purchased Rockbridge Village, a roughly 102,432-square-foot retail center in Stone Mountain, Ga.