News
Faris Lee Secures Buyer for OC Mixed-Use Asset
Raintree Evergreen LLC acquired the 14,900-square-foot retail and office property in Dana Point, Calif., for $6.6 million, which represents a 5.5 percent cap rate.
LandCap Plans Mixed-Use Project for San Diego’s Mission Valley
Latitude 33 and Tucker Sadler Architects have received the approval for the development of 319 units over two stories of parking and six retail units. The project is slated for completion in mid-2019.
Glimcher Group Expands Ohio Footprint
The company purchased the 95,446-square-foot North Olmsted Towne Center for $15.9 million from Norcar Co. LLC. The retail center comprises four buildings, with tenants such as David’s Bridal and Party City.
Avison Young to Lease Thor Equities’ NYC Office Portfolio
A five-broker team fronted by Avison Young’s Arthur Mirante II and John Ryan III will co-handle leasing and marketing operations for the Class A and B properties.
Transwestern Appoints New EVP
George Vogelei will step up as the firm’s executive vice president of agency leasing, after spending more than three years at NKF.
Mizuho Consolidates NYC Offices on Avenue of the Americas
The Japanese bank will relocate its U.S. headquarters to the Rockefeller Group’s recently redeveloped 1271 Avenue of the Americas in Manhattan. The firm plans to occupy 148,000 square feet on the building’s below-grade, second and third floors.
Premier Redevelops Chicago Freezer Facility
The 110,439-square-foot space is an expansion to an existing cold storage facility part of a 55-acre business park in Northlake, Ill.
Baum Realty Tapped to Market Downtown Chicago Site
The 12,759-square-foot, mixed-use building is very close to the heart of the Bucktown/Wicker Park and features 139 feet of frontage retail space on Damen Avenue as well as an additional 3,885-square-foot parcel to the north.
Newmark Secures $68M Financing for Silicon Valley Assets
The recent long-term financing for two office properties and a big-box retail center brings the firm’s debt transaction volume in these submarkets to $157 million in 2017.
Economy Watch: Fed Sure of Economy, Raises Rates, Promises Asset Sell-Off
The Federal Reserve unanimously decided to raise rates for the second time in 2017, signaling its belief that the U.S. economy is strong enough to handle more expensive financing.