News
Another Big One: Vornado Sells Manhattan’s 1740 Broadway for $605M
Manhattan continues to lead the pack as the town with the biggest big-ticket office transactions in the U.S., as the 600,000-square-foot building at 1740 Broadway fetches roughly $1,000 per square foot. Vornado Realty Trust was the seller.
Curbcut Urban Partners’ Joint Venture Throggs Neck Shopping Center Opens in the Bronx
A new shopping venue recently celebrated its grand opening in the Ferry point section of the Bronx, just in time for the holiday season.
Skanska to Build $101M Science Museum in Miami
Skanska USA will construct the $101 million Patricia & Phillip Frost Museum of Science, a 250,000-square-foot cultural anchor in Miami.
Pebblebrook Pays $260.4 Million for Revere Hotel, Adjacent Parking and Vacant Lot
Shortly after entering the Nashville, market by paying $52.3 million for the Union Station Hotel, Pebblebrook Hotel Trust made another acquisition, this time in The Hub.
South Hills Plaza in West Covina Acquired by Hong Kong-based Investor in $20 Million Deal
South Hills Plaza recently traded hands in a deal worth a reported $20.7 million. According to the official announcement of the transaction, the buyer was LT Global, acting as LT Holdings in the United States market, a Hong Kong-based publicly-traded investment company. The transaction was handled by CBRE Senior Vice President Philip D. Voorhees, along with a National Retail Investment Group – West team. The West Covina, CA retail center was sold by an L.A.-based partnership. The NRIG-West team consisted of Voorhees, Jimmy Slusher, Megan Read, Matt Burson, Brad Rable and John Read.
Beacon Partners and Morehead Properties Merge Office Holdings into $100M+ Portfolio
By Eliza Theiss, Associate Editor Beacon Partners and Morehead Properties, Inc. will merge their office portfolios in a move to meet the growing demand for urban infill office space. The merged entity will control office space valued at over $100 million. Expected to close in Q1 2015, the merger will create an office portfolio totaling […]
Loomis Armored US Signs Big Lease in the White Marsh Business Community, Plans to Install 200 Workers
Loomis Armored US is moving to White Marsh. The cash management and cash handling company has recently signed a lease with Hill Management Services, Inc. for 50,223 square feet of space in Baltimore County’s White Marsh Business Community.
The Howard Hughes Corporation Buys Six Downtown Columbia Office Buildings for $130M
The Howard Hughes Corporation is expanding its Maryland portfolio. In one of the largest transactions of the year, in the Greater Baltimore area, the Dallas-based company purchased six office buildings in Downtown Columbia from General Growth Properties, Inc. The sale price was $130 million.
Pierce-Eislen: M-F Rent Growth Still Strong in 2015
Rent growth at multi-family properties across the United States in 2015 is expected to increase 4.5 percent for Class A and B+ assets and 5.1 percent for Class B and C assets, with some technology-heavy Western markets seeing spikes as high as 9 percent.
APF Takes Full Ownership of Building on Manhattan’s ‘Club Row’
APF Properties has taken 100 percent ownership of The Club Row Building at 28 W. 44th St., buying out the 80 percent equity stake previously held by its joint venture partner, Prudential Real Estate Investors.