News
Griffin Capital Spins Off Griffin Institutional Access RE Fund
Griffin Capital Corp. has launched Griffin Institutional Access Real Estate Fund, which is trading on NASDAQ as GIREX and includes several large private institutional real estate funds in its investment portfolio.
Economy Watch: Consumer Credit Still Growing; Job Openings Edge Up
U.S. consumer credit rose at an annualized 7.4 percent in May. There were 4.6 million U.S. job openings on the last business day of May, up from 4.5 million in April.
KBS REIT II Sells Chicago Office Building to Irvine Co. for $850M
In what CoStar called the largest single-building office transaction in Chicago history, KBS REIT II has sold 300 N. LaSalle to the Irvine Co. for $850 million.
CBRE: CRE Improves Strongly Across All Property Types in 2Q2014
Commercial real estate is back, and it’s going strong. According to CBRE Group Inc.’s most recent analysis, the market experienced strong improvement during the second quarter with office, industrial, retail and apartment all reporting positive numbers.
Economy Watch Weekly: A Solid Jobs Report for June
CPE‘s economic analyst, Dees Stribling, gives his update for the week ending July 4, 2014, Independence Day.
Glendale Office Complex Trades for $9M; Pacific Realty Advisors Plans Industrial Project in Mesa
Cassidy Turley recently announced that Select Healthcare Solutions, LLC, Phoenix Cyberknife and Radiation Oncology Center, LLC have acquired Zanjero Falls for $9.1 million, a 147,405 square foot office property situated at 7410 N. Zanjero Boulevard in Glendale.
Finmarc Management Acquires Two-Building, 150,000-SF Office Portfolio in Alexandria for $31.5M
Finmarc Management, Inc. continues its expansion in Northern Virginia with the acquisition of a two-building office portfolio in Alexandria. The Bethesda-based commercial real estate company paid $31.5 million to buy Waterfront Center I and II from Gates Hudson.
Inland Real Estate Corp., PGGM Buy Phase I of Newport Pavilion
Inland Real Estate Corporation is expending its presence in Cincinnati. In a joint venture with Dutch pension fund advisor PGGM, the real estate investment trust has acquired Phase I of Newport Pavilion, a 471,800-square-foot grocery-anchored power center in Newport, Kentucky. The retail property changed hands for $43.3 million in cash.
CBRE: London is World’s Highest Priced Office Market
The title of world’s highest priced office market is staying in the capital of the United Kingdom, while three of the top five markets in terms of office space are located on the Asian continent, according to the latest CBRE Global Research and Consulting survey.
Loews Hotels & Resorts Buys 255-Key Graves 601 Wyndham Grand in Minneapolis
Loews Hotels & Resorts has completed its acquisition from Graves Hospitality of the 21-story, 255-room Graves 601 Hotel Wyndham Grand in Minneapolis.
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