Investment
Vornado Speeds Up JBG Smith Spin-Off
Common shares of the new REIT—which will trade on the New York Stock Exchange under the symbol JBGS—will be available starting July 18.
Flagship Healthcare Nabs First Louisiana Property
The 55,000-square-foot medical office building in the New Orleans metro area was 72 percent occupied at the time of the transaction and is part of the campus of Lakeview Regional Medical Center.
Investors Revamp Playbook to Capture Yield: PGIM
While investors have largely focused on putting their capital in core assets in primary markets since 2010, they are starting to target markets offering more attractive yields and stronger growth opportunities, according to PGIM Real Estate’s 2017 Global Outlook.
Hanley Closes Inland Empire Retail 1031 Exchange
The firm negotiated the sale of a 33,708-square-foot pad building occupied by T.J. Maxx and ULTA Beauty in La Quinta, Calif. for around $8.9 million.
JV Scores Prime Boston-Area Office Portfolio for $270M
Longfellow Real Estate Partners has teamed up with Morgan Stanley to acquire three Class A office and tech properties totaling 605,873 square feet in Cambridge, Mass. Longfellow will handle the building operations on behalf of the joint venture.
AHIP Closes $407M Hotel Portfolio Purchase
The Canadian REIT is the new owner of the Eastern Seaboard Portfolio, a collection of 18 Marriott and Hilton properties in Maryland, New Jersey, New York, Connecticut and Pennsylvania.
CBRE Trades Charlotte Office Building
Known as 401 McCullough, the property changed hands for $12.3 million. Tempus Realty Partners acquired the vacant building from LNR Partners.
Waverly Lands 4 New Tenants
Fab’rik, Scout and Molly’s Boutique, Babalu Tapas & Tacos and DeSano Pizza Bakery signed leases at the master-planned community developed by Crosland Southeast, Childress Klein and the B. Frank Matthews II family in Charlotte, N.C.
FCA Goes Shopping in The Triangle
The company acquired Celebration at Six Forks, a 125,000-square-foot shopping center in Raleigh, N.C., for $19.1 million. FCA intends to make capital improvements to the property.
Suburban Philly Office Buildings Sell for $36M
The seven assets are located in Exton, West Chester and Newtown Square, Pa., and total more than 229,000 square feet of office/flex space. The properties changed hands through like-kind exchanges.