News
Two DC Office Buildings Sell for $259M
Westbrook Partners and TIER REIT sold the two buildings to UNIZO Holdings after completing significant repositionings of the buildings. The transaction reflects TIER REIT’s continuing strategy of exiting non-target markets.
West Roxbury Retail Asset Changes Hands
The four buildings, which are occupied by Party City and Lumber Liquidators, are located along VFW Parkway, between Dedham Mall and the Fisher House Boston medical center.
Baum Realty Group Brokers Sale of Chicago Retail Center
The disposition of 4600 Plaza in Harwood Heights, Ill. brought $7 million to the seller, an affiliate of Next Realty LLC.
Allentown to Harbor Tallest Building in Lehigh Valley
Five City Center will break ground in 2018 and will include a 24-story office tower, two residential buildings totaling 225 apartments and a 1.7-acre park.
Cancer Center Underway in Riverside
HFF has arranged financing for a 27,000-square-foot medical office building to be developed by Pacific Medical Buildings. The property will be leased in full to RadNet Management Inc.
Partnership Brings New Charter School to South Bronx
The building represents the first newly constructed facility in the Classical Charter Schools portfolio. The school is scheduled to open during the 2017-2018 academic year.
Jewel-Osco to Open in Chicago’s Woodlawn
The full-service grocery store is scheduled to open in the second half of 2018. The project belongs to a joint venture between Terraco and DL3 Realty.
NGKF Taps New Global Corporate Services CEO
Robinson will lead the firm’s integrated offering and solutions for occupier clients around the globe. Prior to NGKF, he held positions at Colliers International, Cassidy Turley, CBRE and Trammell Crow.
Economy Watch: Commercial Property Valuations Gain in April
The commercial real estate industry saw its strongest price growth since the election, according to Ten-X’s latest Commercial Real Estate Nowcast. CRE pricing has risen 9.6 percent in the last 12 months, the strongest annual growth rate since early 2016.
Lee & Associates Facilitates 35 KSF Lease to Well-Known Car Dealer
Maryland’s largest independent car dealership, Carbiz, leased 35,000 square feet at 8751 Freestate Drive in Laurel, Md. for its second business location.