News
Industrial Property Trust Acquires $13M DC-Area Asset
The 98,653-square-foot warehouse contains state-of-the-art features including a 3,800-square-foot climate-controlled storage area designed to hold specialized valuables, such as fine art or antiques.
Staples Sells Corporate Office Building in Denver
Elevations Credit Union paid $16.5 million to acquire the property, which is part of the Interlocken Business Park in Broomfield, Colo.
HBW Group Completes Sale of Rockville Asset
ProMark Real Estate Services purchased the 37-year-old, 101,000-square-foot office building and has renovations planned for the property.
Kroger-Anchored TX Shopping Center Lands $19M Loan
Metropolitan Capital Advisors Ltd. has arranged a construction loan for the second phase of the Prosper, Texas, shopping center. The 70 percent loan-to-cost financing features a fixed rate of 4.5 percent.
Shops at Willow Bend Gets $125M Renovation, Expansion
The construction of the next phase began one year ago and will be completed in phases. The shopping center will introduce new restaurant and retail concepts, as well as a 200,000-square-foot office tower.
Oxford Property Group, Titan Real Estate Merge
To accommodate the influx of new employees, Oxford is expanding its 5,000-square-foot office located at 286 Fifth Ave. in Manhattan.
Boston’s Newmarket Center Trades for $9M
HFF arranged the sale of the recently redeveloped 55,000-square-foot office building situated in the city’s Roxbury submarket. Prior to the sale, the asset served as a warehouse. It last changed hands in 2013 for $1.27 million.
Zamir Equities Acquires Syracuse Office Asset
The 305,594-square-foot property, one of the city’s tallest buildings, was originally developed in 1970 and recently underwent a $10 million renovation.
Economy Watch: Hotel Pipeline Grows in April
Nearly 4,843 hotels were currently in process in the U.S. in April, according to a recent STR report, an increase of 15 percent from a year ago. Limited service hotels account for roughly two-thirds of all hotel construction in the country.
SL Development Secures $54M Loan for Williamsburg Warehouse Buy
Madison Realty Capital arranged the financing for the firm’s acquisition and upcoming development of a 90,000-square-foot mixed-use building in Brooklyn’s Williamsburg neighborhood. The redevelopment is slated for completion in July 2019.