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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.
Demand on the Rise in Phoenix
At midyear, Phoenix’s office inventory totaled 108 million square feet. Transaction volume for the 12 months ending in July totaled $1.2 billion, corresponding to the more than 11 million square feet that changed ownership.
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.
Hillwood to Deliver 1.7 MSF Kentucky Industrial Project
Hillwood and Al. Neyer plan to develop two speculative buildings, totaling more than 1.7 million square feet, in Erlanger, Ky. The construction of Building 1 will start in 2018.
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.
Ridgeline, USAA Team Up in Nashville
The joint venture is developing Park 840 East Building 100, a 558,600-square-foot distribution and logistics facility in Lebanon, Tenn. The project is scheduled for delivery by mid-2018.
Wonderful Spec Project Underway in Central Valley
The 1 million-square-foot building, which will sit within the 1,600-acre Wonderful Industrial Park in Shafter, Calif., is one of only a few developments of its kind in the market.
Barnett Capital Sells 2 MSF Industrial Portfolio
Located predominantly in the Midwest, the properties netted Barnett Capital $84 million, a tidy sum for snapping up assets in the Chicago area, the company’s target market.