Deals
TEI Goes Shopping in Tenn.
Spanning more than 700,000 square feet in total, Time Equities Inc. expanded its southeastern retail footprint with the $53.5 million acquisition of College Square Mall and Foothills Mall.
CIP Sells EconoLodge Hotel
Hotel Brokers International’s member Crystal Investment Property closed the sale of a 44-key motel near Nye Beach in Newport, Ore. The final price was not disclosed.
Global Medical REIT to Buy 2 Hospitals in Sherman, TX
The company will pay $26 million to acquire two medical facilities totaling 81,352 combined square feet, with plans to lease them to current owner SDB Partners.
Atlanta-Area Medical Office Buildings Trade for $17M
Developed in 2007, the identical properties are 98.5 percent occupied, with approximately 87 percent of the rentable square footage leased to St. Mary’s Health Care System Inc.
NorthStar, CRL to Buy $390M London Office Asset
The eight-story trophy building located midway between Saint Paul’s Cathedral and Bank of England marks China Resources Land’s first real estate investment in Europe.
Foreign Investor Acquires Long Island Shopping Center
Servicers LNR Partners, a subsidiary of Starwood Property Trust, and C-III Asset Management sold The Mall at the Source and the adjoining Fortunoff Building for $92 million.
Midwest Industrial Acquires Warehouse, Plans Renovation
The 71,000-square-foot building is located in Huntley, Ill., and is fully leased by a single tenant. The site features an additional 3 acres which can be used for further development.
HFF Closes $26M Sale of Phoenix-Area Property
The company represented the seller, a partnership between AEW Capital Management and The Muller Co., and procured the buyer, Arizona Partners.
Wilson & Stonaker Acquires Texas Industrial Park
The 334,082-square-foot, four-building industrial park in Fort Worth has 20,000 to 56,000 square feet of space currently available for lease. Transwestern Principals Jeff Givens and Sarah LanCarte represented the seller and will be leasing the property.
Long Island Medical Office Portfolio Hits the Market
Cushman & Wakefield is marketing the sale of two medical office buildings located in Great Neck and Manhasset, N.Y. The assets total 70,167 square feet of space and are 88 percent leased to multiple tenants.