News
ARCP Sues RCS for Canceling $700M Cole Deal
American Realty Capital Properties has fired the next shot in the battle with RCS Capital Corp. over its termination of the Cole Capital Partners $700 million deal by filing a lawsuit against RCS.
NASA Announces Lease Deal Turning Over Moffett Field to Google-Controlled Planetary Ventures
Moffett Field and the iconic Hangar One are set to be saved by Google, as the tech giant recently agreed to invest around $200 million at the property. Additionally, the airfield will be used in Google’s various ventures including space exploration research, aviation and robotics. The company’s subsidiary, Planetary Ventures, has signed an agreement with NASA that will let the company manage Moffett Federal Airfield(MFA) in Moffett Field, CA. The agreement was closed for a period of six decades and would mean that the Google-controlled entity will pay NASA a total of $1.16 billion in rent.
90 North Completes Purchase of The Reserve at Deer Park Office Building in Chicago
London-based 90 North Real Estate Partners recently announced it has arranged the sale of The Reserve at Deer Park, a 351,425-square-foot, Class A office building in suburban Chicago, RealEstateJournals.com reports.
Hershey Trust Trades 218 KSF Shopping Center in Central Pennsylvania
Hershey Trust Co. has traded Hershey Square Shopping Center in Hummelstown, Pa. to Heidenberg Property Group for an undisclosed amount.
Bucksbaum, Steiner Get $165M in Financing for Cincinnati Suburb Retail Center
A joint venture between Bucksbaum Retail Properties and Steiner + Associates, along with financial partner Mount Kellett Capital Management, received $165 million in construction financing for Liberty Center, a 626,791-square-foot retail town center development in Liberty Township, a northern Cincinnati suburb.
DRA Sells Fort Lauderdale’s Broward Financial Center for $112M, Reels in $61M in Financing
DRA Advisors has sold Broward Financial Center in Fort Lauderdale to AGS Property Corp., and HFF did double duty on the $112 million deal.
Heitman to Manage $440M Global Listed Property Investment Mandate for Australian Firm
Advance Asset Management, an Australian specialist asset management firm, has chosen Chicago-based Heitman to manage AUD$500 million in listed property investments globally.
Economy Watch: Recession Aftermath, European Economies
During the three years between 2009 and 2012, the U.S. economy began recovering from the recession, but for many major U.S. cities, the fiscal crisis persisted during those years. Retail sales dropped 1.3 percent in the eurozone.
Economy Watch Weekly: Strong Jobs Report for October
Economy writer Dees Stribling offers his weekly roundup of indicators for the week ended Nov. 7.
Howard Hughes Corp. Lands $600M for Nation’s Largest LEED-ND Platinum Project
Blackstone knows a good a project when it sees one. It doesn’t get much better than The Howard Hughes Corp.’s Ward Village, a mixed-use master-planned community that will rise on 60 acres situated directly between downtown Honolulu and Waikiki on Oahu.
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