Investment
Brandywine Breaks Ground on $3.5B Philly Project
The firm will begin construction on the first phase, which will comprise educational facilities, research laboratories, corporate offices and more. Brandywine is partnering with Drexel University on the master-planned project.
SOMA Office Building Commands $27M
Situated in a growing tech hub in San Francisco, 945 Bryant Street boasts open floor plates, 15-foot ceilings and plenty of natural light. The transaction is Bridgeton Holdings’ fifth in the city and second this year.
Midcoast Properties Brokers NC Self-Storage Facility Sale
The 20,000-square-foot, four-building asset, Alcom Mini Storage, is in Cherryville, N.C. Midcoast Properties represented the seller.
SoCal MOB Lands $25M Loan
The approximately 40,000-square-foot asset was subject to a fixed-rate construction loan. Keystone Mortgage Corporation will oversee financing.
TN Plastic Manufacturer Plans $42M Expansion
M&M Industries intends to expand its current Chattanooga plant and also acquire a new industrial building in the county. The investment is expected to create 110 new jobs.
ShopOne Enters CA Retail Market
The company acquired McKinley Crossroads, a 202,134-square-foot retail center in Corona, Calif. Plans include the renovation of the center.
Inland Empire Retail Center Sells for $32M
Cushman & Wakefield brokered the sale of Upland Town Square, a 100,350-square-foot retail center. The property was approximately 88 percent leased at the time of the acquisition.
JV to Develop 802 KSF Distribution Facility in Ohio
PCCP and The Pizzuti Cos. intend to build a speculative industrial building in Columbus. Rickenbacker West I is anticipated to be completed by the summer of 2018.
Apollo Commercial Provides $250M for Manhattan Office Project
The finance REIT’s loan is part of the $479 million construction financing package backing Cove Property Group’s Hudson Commons, a 700,000-square-foot office redevelopment and repositioning endeavor in the Hudson Yards/Penn Station submarket.
CBRE: Mideast CRE Spending Tops $10B
The U.S. was the top destination year-over-year as of the second quarter, with volume reaching $3.9 billion.