News
GE Taps Consigli Construction for Historic Boston Asset Renovations
The company will rehabilitate the two, six-story assets that total 95,000 square feet. The campus will be built under the LEED v4 rating, with features including rain water treatment and a vegetated rooftop terrace.
Pepper Construction to Build IKEA’s First WI Store
The Swedish home furnishings retailer has secured contractors for the upcoming location in Oak Creek, Wis. The 291,000-square-foot IKEA store is due to open next summer, with 250 full-time employees.
Bridge, Premier Team Up to Build Distribution Facilities
The two buildings which will replace Schiller Park’s former bakery are slated for completion by the end of this year’s second quarter.
H.I.G. Closes $600M Real Estate Fund
The fund’s general partner and related parties were among the list of contributors, as was a $52 million co-investment vehicle. Fund III, launched in June 2015, has so far amassed a portfolio of eight assets accounting for 20 percent of the commitments.
HTA Grabs Multi-State MOB Portfolio for $150M
Already the largest owner and operator of medical office buildings in the U.S., Healthcare Trust added 592,000 square feet of space in Arizona and Southern California.
Newark Lands First Spec Office in 30 Years
Development of Ironside Newark is expected to last about 18 months, with opening targeted for fall 2018. Perkins Eastman is the architect, and Hollister Construction the construction manager.
Morrison Raises $200M for Mezzanine Debt
The fund provides small-balance mezzanine capital, with investment balances typically ranging from $2 million to $10 million, to CRE market participants across diverse property types in the top 100 MSAs nationwide.
New York Office Asset Changes Hands in $25M Deal
One Lincoln Center underwent a $10 million renovation in 2016 and was 86 percent leased at the time of the transaction. The 17-story asset was built in 1970 and is the tallest building in Syracuse.
Arup Announces New Director of Its Chicago Office
Cierine Nicolas, who joined Arup as associate principal last year in November, completed the transition to the role of director and is expected to lead the company’s team of engineers on a variety of projects.
Mohr Partners Appoints New CFO
With more than 30 years of experience leading finance organizations, Eric Karl worked for General Electric, 1A Smart Start and Sumitomo Corp. of America.