Investment
Premier NJ Office Building Sells for $36M
Hartz Mountain Industries disposed of the 118,000-square-foot property. The American subsidiary of a Japanese pharmaceutical company occupies the three-story asset.
JV Acquires Raleigh-Area Power Center for $53M
Collett Capital and Long Warf Capital purchased the 321,000-square-foot retail asset. HFF arranged acquisition financing on behalf of the borrower, which plans to upgrade the property.
“Darth Vader Building” in Downtown WPB Sells for $98M
CBRE brokered the sale of the Class A, 294,000-square-foot office tower that last traded in 2016. Northbridge Centre underwent complete renovations worth $15 million.
Investcorp JV Sells Seattle Office Tower for $305M
The Bahrain-based firm, along with Schnitzer West, sold the Class A asset in the city center to Vanbarton Group after three years of ownership. The 41-story building is fully occupied.
National Storage Affiliates Buys Texas Portfolio
The company has purchased nine properties totaling nearly 5,000 units in the Houston, San Antonio and Austin markets.
Inland Empire Manufacturing Facility Changes Hands
Precision Screen & Security acquired the former Watson Laboratories facility in Corona. The Class A industrial asset traded for $26.5 million.
SVN Chicago Brokers Retail Asset Deal
Huntley Shops, home to national and regional tenants such as Dunkin Donuts, Papa Saverio’s Pizza, Hair Cuttery and H&R Block, sold for $3.1 million in an off-market transaction.
Hammes Partners Pays $409 Per SQFT for AZ Medical Building
Spectrum Medical Commons, developed by Irgens in 2017, is adjacent to Mercy Gilbert Medical Center. JLL brokered the $17.8 million transaction.
BOMA International Conference & Expo 2019 Coverage
Sessions ranged from energy efficiency and financing to tenant engagement and the shifting workforce at this year’s BOMA International Conference & Expo, which took place in Salt Lake City from June 22-25.
Upbeat Outlook for Office Investment: Report
The Mid-Year Office Investor Sentiment Report by Real Capital Markets finds investors are looking to make deals, with $200 billion in dry power yet to be deployed in commercial real estate.