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Avison Young Acquires Hodges Management and Leasing Company
The acquisition not only expands Avison’s coverage in the Atlanta region, but also increases the company’s North American property management portfolio. The two companies’ combined portfolio totals 50 million square feet of retail, industrial and office properties in Canada and the U.S.
Strategic Continues Florida Expansion
The company has acquired a 1,040-unit self-storage facility in the Florida city of Davie and will rebrand it under the SmartStop Self Storage trade name.
Economy Watch: Deflation Around the Corner?
Consumer prices edged downward in June by 0.1 percent, according to the Bureau of Labor Statistics, following a 0.2 percent decline in May. That raises the specter of deflation (again), which is the bogeyman du jour for some economists.
Vulcan Completes Second Phase of Amazon’s South Lake Union HQ
Located on the east side of Boren Avenue North between Mercer and Republican streets, the building encompasses 158,000 square feet of office and 14,000 square feet of street-level retail space.
Cushman & Wakefield Arranges 220,000 SF Lease for PRG
The company will consolidate and expand its existing locations in Mt. Vernon, N.Y. and North Bergen, N.J., and will use the new space as its Northeast headquarters. The property is located at 915 Seacaucus Rd.
$687M in Financing Closes for Development of Government-Leased Research Complex in Kansas City
All told, the entire complex will cost the U.S. General Services Administration, the federal government’s real estate division, nearly $4.8 billion in completion and long-term occupancy costs.
Digital Realty Trust Wraps Up $725M Data Center Purchase from Rockwood Capital
Known as the Rockwood Capital/365 Main Portfolio, the group of five data center assets consists of buildings developed within the last 10 years and managed by data center developer and operator 365 Main Inc.
SK Properties Rebrands, Changes Name to Kushner Real Estate
With the retirement of one of its founders, one of New Jersey’s largest privately held diversified real estate companies has decided to take on some changes.
Economy Watch: Are Shoppers Snapping Shut Their Wallets and Pocketbooks?
The U.S. Department of Commerce reported on Wednesday that retail spending by U.S. consumers dropped 0.5 percent in June compared with May, which sounds like a large drop until automobiles, gasoline and building materials are removed from the equation. In that case, consumer spending actually rose 0.2 percent compared with May. Moreover, compared with June 2009, sales were up last month by 4.8 percent.
RioCan Moves Forward with $123.3M Purchase of Stake in Eight Inland Western Retail Properties
RioCan and Inland Western announced the formation of their institutional joint venture in May. The eight new format and grocery-anchored assets of which RioCan will now acquire 80 percent account for approximately 1.1 million square feet of retail space in the Houston, Dallas-Fort Worth and Austin markets.