Investment
1 + 3 Equals $2.3B Deal for Inland, ARC
Three REITs sponsored by AR Capital are the prospective buyers, for a total of nearly $2 billion, of a 16.5 million-square-foot portfolio of 294 largely net-leased retail, office and industrial properties to be sold by Inland American Real Estate Trust.
Transwestern, Cornerstone Sell 350 KSF Houston Office Property
Five years after acquiring 21 contiguous acres of land for the planned two-tower Eldridge Oaks office development in Houston, Transwestern and Cornerstone Real Estate Advisors have sold the site, along with the 350,000-square-foot trophy tower they developed at the location in 2009.
Fairway Market to be Anchor Food Market at Hudson Yards
Fairway Market has become the latest company to lease space in the South Tower of the Hudson Yards project, taking nearly 46,000 square feet on the ground floor of the first office high-rise to be built in the 28-acre mixed-use development on Manhattan’s West Side.
Feldman Equities JV Buys 187 KSF Office Tower in St. Petersburg, Fla.
St. Petersburg is looking good to Feldman Equities, Tower Realty Partners and Second City Capital Partners, so the JV team recently acquired the 187,000-square-foot office building formerly known as Wells Fargo Plaza.
Brookfield to Acquire U.S. Warehouse Business for $1B
Brookfield Property Partners has agreed to purchase Industrial Developments International (IDI) from Kajima of Japan for $1.1 billion, in a deal a company spokesperson said will close in the fourth quarter.
Chicago’s New Outlet Mall Setting a Trend
Developed by AWE Talisman and Macerich, the $250 million, 530,000-square-foot, two-level center is anchored by Bloomingdale’s The Outlet Store, Last Call by Neiman Marcus, Saks Fifth Avenue OFF 5th and Forever 21.
JLL to Expand in Metro Kansas City with Acquisition of Capital Realty
Jones Lang LaSalle has its eye on the blossoming industrial real estate market in metropolitan Kansas City, Mo., and the commercial real estate services firm will increase its platform in the market in one fell swoop with the acquisition of Capital Realty.
Morgan Stanley Fund Grabs 50% of Boston Trophy Building
In a deal that was first reported by Bisnow, a Morgan Stanley real estate fund has acquired the Blackstone Group’s 50 percent share of One Post Office Square, a 40-story office building in Boston’s financial district, for a reported $550 million.
Clarion Sells One Metro Center in DC to Jamestown for $307M
Clarion Partners has completed the sale of One Metro Center, a seven-story, 415,300-square-foot, trophy Class A building in the East End submarket of Washington, D.C., for $307 million to Jamestown Properties.
DeBartolo Grabs 132-Room Aqua Waikiki Pearl Hotel in Hawaii
DeBartolo Development just made its first tangible foray into the Hawaii hotel market with the acquisition of Aqua Waikiki Pearl, a 132-room hotel in the heart of Oahu, in Honolulu.