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HFF Nails Down $35.4M Acquisition Financing for Tampa’s Fountain Square
Fountain Square I encompasses 135,666 square feet and has a 708-space garage as well as a retail bank branch. Fountain Square III has 176,150 square feet as well as a 912-space garage, a cafeteria, training rooms and a daycare facility.
Skype Takes 90,700 SF at Stanford Research Park in Silicon Valley
Formed nearly six decades ago by Stanford University, Stanford Research Park encompasses 10 million square feet of space adjacent to the school’s campus, and is known the world over as a leading research and technology compound. The sprawling Silicon Valley property is located about 30 miles outside of San Francisco.
Pebblebrook Spends More IPO Cash with $105M Purchase of InterContinental Buckhead Atlanta
The 24-story InterContinental sits in Atlanta’s tony Buckhead community and, in addition to its upscale guestrooms, features a 5,000-square-foot wellness spa and 31,000 square feet of meeting space, making the hotel the site of the largest meeting space in Buckhead.
Bayonne Medical Center to Get New 50,000 SF Building
Slated to break ground in 2011, the building is touted as transforming unused land into revenue-generating space. It will house a surgery center, nursing school, hospital pharmacy, and doctors’ offices.
Legacy Wraps Up $264M Mixed-Use Project at Hollywood and Vine
The 12-story community features 375 apartments, 297 market-rate, 78 affordable, as well as 32,595 square feet of ground-floor retail including Trader Joe’s, Wells Fargo Bank, Café Entourage and Bubbles dry cleaners. It also has a 215-space on-site public parking lot.
Economy Watch: Job Creation Positive, But Tepid
The ADP National Employment Report, which always comes ahead of the U.S. Department of Commerce’s employment numbers and doesn’t always jibe with them, noted on Wednesday that nonfarm private employment increased 13,000 from May to June 2010 on a seasonally adjusted basis.
Ventas to Buy Lillibridge, Expanding MOB Portfolio to 8.4M SF
Buying an entire company is a good way to expand a portfolio in one fell swoop and Ventas Inc. is about to do just that. The Chicago-headquartered healthcare REIT has signed a definitive agreement to acquire Lillibridge Healthcare Services Inc., also based in Chicago, in a transaction valued at $300 million to $400 million.
New REIT Grabs San Francisco’s Sir Francis Drake Hotel in $90M Deal
Located downtown in the center of San Francisco’s bustling Union Square, the 23-story Sir Francis Drake was originally developed in 1928. The upper upscale hotel features 18,000 square feet of meeting space and is home to a famed bistro, a Starbucks store, a bar and a nightclub.
Economy Watch: New Home Sales Crater; Disney Unveils Posh Plans
The pace of existing home sales slacked off after the federal tax credit expired at the end of April, but it’s the sale of new houses that have truly taken a tumble.
Crossbeam Re-Ups Massachusetts Space
Per the lease, tech company Crossbeam Systems, Inc. will keep its corporate headquarters at the property. Crossbeam provides security platforms for high-performance networks; it occupies the first and second floors of the building.