News
NAI Hiffman Brokers Illinois Office Sale
Heidner Property Inc. bought the 37,500-square-foot property in Hoffman Estates, Ill., for $3.2 million and will relocate to the new address from Glendale Heights, Ill.
NAI Hiffman Arranges Chicago Warehouse Lease
Sunbelt Rentals is the new tenant of a 29,000-square-foot warehouse in Chicago’s Logan Square neighborhood. The facility was formerly occupied by ComEd.
Kraft Heinz Inks 261 KSF Lease in Garland, TX
With the new lease, The Kraft Heinz Co. becomes the largest tenant at Logistics Pointe Distribution Center. The lease includes 90,000 square feet of cold-storage.
Amazon to Open First Oregon Facility
The retailer will invest $178.4 million in an 855,000-square-foot fulfilment center in eastern Hillsborough County. The facility will create more than 1,500 full-time jobs.
Morgans Hotel NYC Fetches $41M
The acquisition is scheduled for completion in July, when the new owners—a joint venture of The Kash Group and Shel Capital—will execute a residential conversion of the the 90-year-old Midtown Manhattan property.
Economy Watch Weekly: Fitch Details Upbeat CRE Outlook
Multifamily fundamentals should lead the pack during the second half of 2017, with strong showings from the industrial sector and tech-focused office markets, Fitch’s U.S. Equity REITs handbook concludes. Meanwhile, Pew Research reports that Americans are increasingly upbeat about the economy.
Economy Watch: Closings Loom for Fashion Retailer
More than 250 stores will close by 2019 and another 400 closings could follow unless landlords grant rent relief, says the owner of such fashion brands as Ann Taylor, Dressbarn and Maurices.
CBRE to Lease INQ@2401 in Charlotte
The joint venture ownership selected CBRE’s Joe Franco and Stephanie Spivey to lead marketing efforts at the redeveloped office property.
CBRE Secures Financing for Cupertino Office Building
Harbor Group International LLC is set to acquire an 88,580-square-foot asset in the heart of Cupertino, Calif. CBRE’s Shawn Rosenthal secured a ten-year interest-only loan provided by JP Morgan.
Baltimore-Area Office Asset Completes First Sale
A joint venture between Feldman Bergin Development and Kenwood Management Co. acquired 1334 Ashton Road in Hanover, Md. for $2.3 million. The building is part of the Commons Corporate Center office park.