News
Midtown East Rezoning: Not for the Faint-Hearted
The new plans approved by the New York City Council allow the construction of modern office space, reduce challenges for redevelopments and aim at upgrading the area’s transit and pedestrian infrastructure. Still, experts say only sophisticated developers will be able to take advantage of the approved regulations.
Trailer Manufacturer Strengthens PA Footprint
M.H. Eby purchased a 95,000-square-foot production plant in Ephrata for $3.3 million. Eby currently operates two other facilities in Lancaster County, but intends to move all Pennsylvania manufacturing operations in the Ephrata facility.
JV Sells 175 KSF Portland Asset
A real estate fund managed by Credit Suisse Asset Management acquired the former Oregonian Building in Portland, Ore. The previous owners recently renovated and restored the facility as part of a multi-million dollar program.
HFF Closes LAX Doubletree Sale and Financing
Umbrella Hotel Group purchased the 216-key hotel in El Segundo, Calif. HFF marketed the property on behalf of the seller and secured a mezzanine loan for the buyer.
Citrine Advisors Acquires Historic Portland Office Building
New Urban Properties sold a 27,500-square-foot property in Portland’s CBD. JLL negotiated the transaction on behalf of the seller, while CBRE represented the buyer and secured the acquisition financing.
Marcus & Millichap Division Sells 182 KSF Retail Center
Institutional Property Advisors brokered the sale of North Heights Plaza, a shopping center in Huber Heights, Ohio. The asset is anchored by Dick’s Sporting Goods and Big Lots.
Large Spec Warehouse Rises in NJ
Sitex Group selected NAI Hanson to market One Sharp Plaza, a 271,000-square-foot industrial project providing direct access to New York City via the Tappan Zee and George Washington bridges.
Tavistock Plans 155 KSF Office Building in Orlando
The six-story tower will sprout up at Lake Nona Town Center within the Lake Nona master-planned community, bringing the developer’s local pipeline to more than 1 million square feet.
Millenia Commons, Ayres Hotel Break Ground in SoCal
The 131,000-square-foot lifestyle center and 135-key boutique property will be part of a multibillion-dollar master-planned community in south San Diego County.
Electric Factory Building in Philly Trades for $20M
Callowhill Center, the two-building office complex that houses the iconic Electric Factory music venue, changed hands after being under the same ownership since 1986.