News
Stark Enterprises Enters NYC Market
In a joint venture with Sun Equity Partners, the firm purchased an asset leased long-term to Con Ed New York for $98 million.
ARA Adds New Senior Investment Experts
Meet Albert Pura and Rick Massa, American Realty Advisors’ most recent promotees. The former now acts as the firm’s senior director of investments and will continue to be based in the San Francisco office, while the latter—based in the Chicago office—will focus on the company’s portfolio management.
Balfour Beatty Lands $581M Contract in Texas
The company will advise the Texas Facilities Commission on construction of the first phase of the state office and promenade project in Austin.
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.
Kidder Mathews Makes New Hires
Sean McNamara has joined Kidder Mathews’ Portland, Ore., office, where he will specialize in sales and leasing of industrial properties.
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.
Redeveloping Malls: An $8B Trend
A recent study by JLL shows that mall owners are investing billions in renovating their assets to meet the needs of the modern consumer. While these projects come with risks, the report makes a case for their rewards.
Transwestern JV Buys Seattle-Area Office Park
Equity Office Properties Trust sold Redmond Hilltop, a 178,769-square-foot office campus in Redmond, Wash., to a joint venture between Transwestern and Diversified International Partners.