Investment
Liquidation of New York REIT Accelerates
In a $520 million deal, the company sold 1440 Broadway, a LEED Gold-certified office building in Manhattan, to CIM Group. The transaction is accompanied by plans to sell three more buildings, soon after the announcement of yet another disposition, as the company winds down.
Greater-LA Office Building Commands $117M
Olive Hill Group is the new owner of 520 Broadway, a rare Class A asset situated in an extremely supply-constrained area of downtown Santa Monica, where demand and rents will continue to rise over the next several years.
C&W Arranges Sale of AZ Retail Center
Sarofim Realty Advisors acquired The Plant, a nearly 57,000-square-foot shopping center in suburban Phoenix, from Common Bond Development Group. The property changed hands for $25.8 million.
Montecito Medical Acquires VA Medical Campus
The Clearfield Portfolio comprises two attached buildings totaling 86,377 square feet. Both structures are 100 percent leased to tenants providing urology services.
McCraney to Build 610 KSF Spec Building near Charlotte Airport
The company acquired a 54-acre parcel less than one mile from the airport as part of its 2 million-square-foot industrial expansion throughout the Southeast U.S.
Atlanta’s Top 10 Office Deals in 2017
Atlanta has emerged as one of the most important economic clusters in the Southeast, appealing to investors through its strong market fundamentals. As 2017 is coming to an end, Yardi Matrix compiled a list of the 10 biggest office deals of the year.
HFF Brokers Northwest Austin Office Sale
The Parkcrest office building recently underwent a series of renovations and offers visibility and direct access to Austin’s major roadways.
CBRE Arranges Sale of Greenville-Area Facility
The buyer revealed its plans to upgrade the property’s exterior and interior features as well as the parking and truck court surfaces.
Choice Hotels to Buy WoodSpring Suites for $231M
The company will become the brand’s franchisor, strengthening its leadership in the extended-stay segment with the acquisition of 240 hotels in 35 states.
Jernigan Invests in 2nd NJ Facility
The firm has invested $10.6 million in a proposed self-storage facility in Dover. Construction will begin in 2018, with completion slated for 2019.