News
Jersey City Office Building Sells for $20M
Rhodium Capital Advisors acquired 600 Pavonia Ave., an 85,000-square-foot office building situated in Jersey City’s Journal Square neighborhood. The asset is set to undergo $3 million renovations.
Office Evolution Debuts Business Center in Charleston
The business center features professional on-demand office and co-working space among several other amenities suitable for small businesses and entrepreneurs.
Commonwealth Commercial Names Carolinas Managing Director
Alex Crouch will serve the Virginia-based company as managing director of its North and South Carolina operations. He will relocate from Richmond, Va., to Charlotte, N.C.
Pennsylvania Offices Trade for $23M
Brookwood Financial Partners LLC disposed of three office buildings totaling 150,000 square feet located in suburban Philadelphia and the Lehigh Valley area. The properties are part of a 29-asset portfolio that the firm purchased in 2015.
Fort Lauderdale Office Asset Sells for $3M
The vacant property changed hands in an off-market deal. The new owner plans to renovate the building and bring it in line with Class A office standards.
SGPS Snaps Up Atlanta-Area Medical Office Portfolio
The strategic location and accessibility of the assets will help the new owner fill the properties’ remaining vacancies by attracting tenants focused on surgical and diagnostic specialty centers.
Meridian Provides Tenant Buildout at Illinois Mixed-Use Facility
The project added 10,601 square feet of office space and warehouse improvements to a 112,288-square-foot industrial property in Glendale Heights, Ill.
Celebrating 30: Kelo v. City of New London
We’re celebrating our 30th anniversary by highlighting some of the most significant events in commercial real estate’s history. Stay tuned for our weekly posts and follow along with us on social media using the hashtag #CPETurns30.
Economy Watch Weekly: Interest Rates Rise While Retail Sales Dip
In a unanimous vote, the Federal Reserve decided to raise interest rates for the second time in 2017, indicating their optimism about the U.S. economy and the ability to handle more expensive real estate financing. But some sectors, such as retail, aren’t performing as well as others in recent months. Economy Editor Dees Stribling has the latest.
Denver Office Building Trades for $37M
Amstar purchased a seven-story, 131,000-square-foot property in the Cherry Creek submarket of Denver. The company is planning to invest nearly $2 million in various upgrades.