Investment
Economy Watch: GDP Sluggish in the First Quarter
The BEA reported that U.S. GDP increased just 0.5 percent in 1Q 2016, largely due to a decline in nonresidential fixed investment and a decline in consumer spending.
HFF Facilitates Sale of Fort Lauderdale-Area Retail Asset
A 16.20-acre grocery-anchored retail center has changed hands in Plantation, Fla.
Mack Real Estate Group Sells 1411 Fourth in Seattle CBD
As the seller pivots towards a multifamily-centric strategy, assets such as 1411 Fourth have to be traded.
Gramercy Extends Portfolio with 12 Industrial Buildings in U.S. and Canada
The 12 industrial assets are located in major markets and were acquired for $115.2 million. Gramercy assumed four mortgages for the transaction.
Equity Commonwealth to Sell Hoboken Office Asset for Tidy Sum
Equity Commonwealth will sell the 13-story tower to Mack-Cali Realty Corp.
IKEA to Build 1st of 2 Illinois Distribution Centers as Part of Chicagoland Project Boom
IKEA’s future Joliet, Ill., distribution center is one of many industrial projects planned to take shape in the Windy City MSA this year.
Lone Star Closes Fifth CRE Fund with Money to Spare
The Dallas-based company closed its fifth commercial real estate fund with $5.5 billion in commitments.
Pontus Capital Secures $109M Loan for National Retail Portfolio
HFF managed to secure a $109 million acquisition loan for Pontus Capital to purchase a 61-asset retail portfolio in the Eastern U.S. and Northern California.
Economy Watch: Consumer Confidence Drops Modestly in April
Consumers’ inclination to spend declined slightly in April, indicating that their expectations for economic growth to gain momentum anytime soon are lower.
North Boston Office Asset Commands $22M
The new owner plans to turn the four-story building at 200 Exchange St. into a mixed-use facility featuring retail, a data center, and almost 200,000 square feet of creative office space.