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Chicago's 55 W. Monroe Sold to Hearn for $136M
In what Jones Lang LaSalle is calling “one of the Chicago market’s largest year-end transactions,” The Hearn Co. purchased 55 W. Monroe from LaSalle Investment Management for $136 million.
Economy Watch: Retail Sales Eke Out December Gain
The Census Bureau reported on Thursday that U.S. retail sales in December edged up only slightly compared with November. Americans are planning to travel more in 2012 and spend more doing it. And on Thursday, investors bought more than 10 billion euro of Spanish bonds.
Cushman: Manhattan Office Vacancies at Lowest Rate in Two Years
New York City’s year-over-year office-leasing activity for 2011 exceeded 2010’s volume by more than 16 percent, according to a new report by services firm Cushman & Wakefield.
Canadian REIT CANMARC Buys Three Properties for $213M
Less than two years after CANMARC Real Estate Investment Trust completed its initial public offering, there appears to be no end in sight to its shopping spree. The REIT has committed to the purchase of three commercial properties across Canada for a total $213 million investment.
MetLife Spends $125M on Chicago Luxury Multi-Family Tower
Amid a flurry of multi-family trades in Chicago, MetLife has bought EnV, a luxury high-rise tower, from LYND Development Partners for an estimated $125 million.
CBRE Grabs Office Building in Atlanta's Atlantic Station Mixed-Use Development
CBRE Global Investors has acquired 201 17th St., a 349,400-square-foot, 17-story, Class A, LEED Gold–certified office tower built in 2007. The Atlanta offices of CBRE will manage and lease the building, which is currently 48 percent leased.
Economy Watch: Euro-Nervousness Ahead of Debt Sales
The world doesn’t seem to have confidence in the euro zone ahead of the next European Central Bank meeting. And the Beige Book offered some optimism on the economy’s direction, but not much.
Swig Co. Purchases 12-Story Downtown L.A. Office Tower
The Swig Co. has just added a downtown Los Angeles office building to its portfolio with the acquisition of 617 W. 7th St. from a joint venture sponsored by Alliance Commercial Partners.
SL Green Adds to NYC Office Portfolio with $252M, 390 KSF Pickup
SL Green has made yet another pickup in Midtown New York City with its $252.5 million acquisition of 10 E. 53rd St. The 390,000-square-foot, 37-story office tower sits between 5th and Madison Avenues in the city’s Plaza District and is currently the headquarters of publishing company Harper Collins.
Starwood, South Street Partners Acquire 1 MSF North Beach Towers in Myrtle Beach
A Starwood Capital Group affiliate and South Street Partners have snapped up North Beach Towers, a two-tower, 1 million-square-foot condominium complex along the water in Myrtle Beach, S.C.