Investment
Hanley Investment Brokers Sale of LA-Area Shopping Center
President Ed Hanley handled the $29.5 million transaction on behalf of both parties. The roughly 53,000-square-foot The Crossroads @ Firestone was fully leased at the time of sale.
CIM Sells Salt Lake City Retail Asset for $48M
Newmark Knight Frank has arranged the disposition of The Family Center at Riverdale, a 427,800-square-foot shopping destination in Riverdale, Utah.
Charlotte CBD Office Building Sells for $41M
Anchored by Bank of America, the 10-story property constructed in 1987 last changed hands less than three years ago. CBRE brokered the latest transaction.
Downtown Miami’s Hotel Sector Shines On
The area’s beaches have long been a hospitality magnet, but the city core is lately emerging as a powerful contender.
TN Industrial Distribution Facility Trades for $24M
Superior 3rd Party Logistics Inc. already inked a 237,000-square-foot lease at the Couchville Pike Business Center I in Mt. Juliet with the new owner, a Fortress Investment Group-lead joint venture.
DAD Acquires San Diego Hotel for $86M
The purchase of the 353-key Marriott Mission Valley marks the company’s first California foray. The owner also plans to develop a second property on the same site.
Uptick in M&A Activity Boosts Capital Flow to US
The CBRE study found that inbound capital rose 79 percent over the previous year, with the retail sector taking up the lion’s share.
London Hotel Portfolio Changes Hands for $1.3B
Queensgate Investments acquired the four upscale properties from Grange Hotels and has an agreement with Fattal Hotel Group, which will reposition and run the properties.
Copra Holdings Buys Houston-Area Storage
The company expanded its portfolio with 256 storage units in Magnolia, Texas. Bellomy & Co. represented the buyer in the transaction.
Georgetown University Buys Downtown DC Office Asset
In a nimble change of strategy, Office Properties Income Trust sold 500 First St. for $70 million rather than proceeding with a planned renovation of the soon-to-be-vacant building.