Investment
Two Equity Commonwealth Office Assets Fetch $670M
In separate deals, the company has closed on the disposition of both 600 W. Chicago Ave. in Chicago and 1600 Market St. in Philadelphia.
Kiddar Capital Nabs Suburban DC Development Site
The nearly five-acre parcel, currently home to a 135,000-square-foot office building, will be the landing site of a new metro station.
Hyatt to Shed 3 Properties in $1B Deal
The sale of Grand Hyatt San Francisco and two resorts to Host Hotels is tied to the company’s sell-down and asset-recycling programs. Hyatt will continue to manage all three assets.
Sterling Bay Buys Chicago Office Tower for $510M
In its largest purchase ever, the REIT snapped up the 1.6 million-square-foot 600 W. Chicago Ave., home to Groupon’s headquarters, from Equity Commonwealth.
JV Acquires Phoenix Office Asset
Totaling more than 250,000 square feet, the three buildings in the city’s Black Canyon Corridor submarket fetched a sale price of nearly $35 million.
CBRE Global Investors Taps New Senior Managing Director
Scott Spalding will be responsible for business development with financial intermediaries and investment advisors who assist high net worth investors.
Calare Nabs R&D, Office Asset in CT
The 915,000-square-foot corporate campus in Wallingford is located halfway between Boston and New York City, and was recently renovated to achieve greater energy-efficiency.
TIER REIT Sheds Fort Worth Office Asset
The property, which includes two one-story buildings totaling more than 130,000 square feet, is located within five miles of DFW International Airport.
Bixby, AXA Look West for New Industrial Venture
The partnership is targeting leased properties in the $10 million to $40 million range in California and four other states.
LPC Offloads $125M CA Office Campus
The recently renovated campus in central Burbank, Calif. consists of three buildings totaling nearly 350,000 square feet and two parking structures.