News
Lone Star Funds Acquires 6 MSF Commercial Portfolio
Global private equity firm Lone Star Funds has acquired State Farm’s 23 existing operations centers consisting of 6.2 million square feet in 16 states, through a sale-leaseback agreement.
Apple Acquires 1.3 MSF Manufacturing Facility in Mesa for Supplier
In a $113.57 million deal, Apple Inc. has purchased a brand-new, 1.3 million-square-foot industrial property on an 83-acre site in Mesa, the Phoenix Business Journal reported.
Buchanan Street Buys $52.6M Portfolio; Hines’ Camelback II Earns State’s 1st LEED Platinum for Existing Buildings
In a $52.6 million deal, Buchanan Street Partners has acquired a 10-building portfolio totaling 446,000 square feet in metropolitan Phoenix from Carlson Real Estate Co. The sale price equates to $118 per square foot.
Lee & Associates Taps Rinkov as Board President & Chairman
It’s been a whirlwind promotion for Jeffrey Rinkov of Lee & Associates. In the last 30 days, he has been catapulted from his position as president of the Central Los Angeles location to running the whole show as the newly named interim president and chairman of the board for one of the largest broker-owned commercial real estate firms in the country.
Reis 3Q Briefing Gives Reason for Optimism
“All indicators are pointing toward another year of recovery” was the optimistic bottom line of Wednesday’s Q3 2013 Capital Markets Briefing from Reis Inc., hosted by Reis senior economist Ryan Severino.
50-Story Tower Proposed as Part of NYC Seaport Redevelopment
One month after breaking ground on an upscale mall at Pier 17 at Manhattan’s historic South Street Seaport, The Howard Hughes Corp. is proposing more redevelopment at the site, including a new marina and a mixed-use 50-story hotel and apartment tower.
Economy Watch: Fed Mulls Tapering in Near Future; Inflation Still Nonexistent; Existing Home Sales See Downtick
According to the Fed, tapering will kick in in a matter of months, albeit gradually. Inflation is not in the cards as a result of QE3. And total existing-home sales dropped in October by 3.2 percent compared with September.
Javits Center Completes $465 Million Make-Over, Boasts Largest Green Roof in the Northeast
By Veronica Grecu, Associate Editor The expansion and revitalization process of the iconic Jacob K. Javits Convention Center has reached completion after a four-year-long process. Considered the country’s largest and busiest venue for conventions, trade shows and large-scale events (in 2012 alone it hosted more than 140 events that generated nearly $1.5 billion for New […]
Executive Spotlight: Mukang Cho, In-Rel Properties
Mukang Cho, CEO of In-Rel Properties, has doubled its portfolio of mostly distressed assets since joining the privately held firm in 2010.
Two Landmark Buildings are Acquired as CIM Group Expands and Credit Suisse Enters Local Market
As the final weeks of 2013 come to a close, the San Francisco office market seems to be heating up with investors eager to tie up their big money deals before the end of the fourth quarter.