News
On the Market: 5 Small-Business Listings for May
This month’s listings span the country, from historic converted lofts in Grand Rapids, Mich., to a mixed-use condo/retail asset in Brooklyn.
Int’l Recruitment Firm to Open Dallas Office
Frank Recruitment Group will occupy 12,000 square feet on the 24th floor of Ross Tower. The company plans to hire 150 people at first and more than 300 in the following years. In the past six months, FRG opened branches in Berlin and Philadelphia.
Neiman Marcus-Anchored Shopping Center to Open This Fall
Louis Vuitton, Burberry and Tiffany & Co. will join the upcoming Shops at Clearfork, after Neiman Marcus opened its 90,000-square-foot store on the premises. Simon teamed up with Cassco Development Co. to develop the southwest Fort Worth, Texas, shopping center.
NYC’s Chinatown Welcomes New Luxury Hotel
Chu Enterprises developed the 229-key property at 50 Bowery, which marks the first-ever Joie de Vivre getaway in Manhattan.
Premier Independent Inks New Lease in Ohio
The health-care service provider will operate from a new, 15,000-square-foot office in Centerville, approximately 20 miles from Dayton, Ohio.
NorthStar, CRL to Buy $390M London Office Asset
The eight-story trophy building located midway between Saint Paul’s Cathedral and Bank of England marks China Resources Land’s first real estate investment in Europe.
Foreign Investor Acquires Long Island Shopping Center
Servicers LNR Partners, a subsidiary of Starwood Property Trust, and C-III Asset Management sold The Mall at the Source and the adjoining Fortunoff Building for $92 million.
Historic Atlanta Hotel Lands $16M Refi
Formerly known as Cox-Carlton, the 140-key property operated under the Days Inn franchise between 1985 and 2004. Ashford Trust acquired the asset in 2015 for $26 million.
Midwest Industrial Acquires Warehouse, Plans Renovation
The 71,000-square-foot building is located in Huntley, Ill., and is fully leased by a single tenant. The site features an additional 3 acres which can be used for further development.
China Life Invests $950M in ElmTree Portfolio
The majority of the assets are recently constructed, build-to-suit industrial, office and health-care properties in secondary and tertiary markets.