News
MIG Buys $13 Million Asset as Office Investment Shows a Pulse
With the housing sector and the dealings of the Downtown Project at the forefront of the city’s real estate market during recent months, reporting on an office deal might come as a surprise.
ASB, Blatteis & Schnur Buy Trio of Gaslamp Retail Properties for $15.3M
A trio of buildings recently traded hands in the city’s famed Gaslamp Quarter after ASB Real Estate Investments shelled out a fee of $15.25 million for the properties. The move is part of the company’s strategy to acquire investment-worthy properties in the country’s best shopping corridor. ASB purchased the three buildings in joint venture with Blatteis & Schnur on behalf of the company’s Allegiance Fund, from Federal Realty Investment Trust. The JV also partners in a number of other Californian properties in Los Angeles and San Francisco.
Garrison, Westmount Expand Industrial Footprint With 10-Building Deal
Garrison Investment Group has purchased 10 industrial properties located in Columbus in late June 2013. According to the Columbus Business First, the 2 million square foot portfolio traded for $23.6 million.
TOD Gallery: Top Projects
A new wrinkle is emerging in transit-oriented development. With the expansion of rail networks in metropolitan areas like Salt Lake City, Dallas and Los Angeles, developers are recognizing the potential created by transit hubs. Meanwhile, projects also continue to move forward in locations with a history of transit-oriented development, like New York City and San Francisco. These images offer a sampling of projects in the pipeline around the country. Ranging widely by property category and geography, they reflect the variety of today’s transit-oriented development. An update on the latest advances in TODs, “All Aboard,” appears in the August issue of…
TCC, Clarion Break Ground on 700 KSF Industrial Project in Lehigh Valley
Trammell Crow Co. and Clarion Partners are one big step closer to bringing 677,000 square feet of Class A industrial space to one of the top industrial markets in the country: Pennsylvania’s Lehigh Valley.
JLL Adds Beers, Ficke to the Fold
Jones Lang LaSalle has bolstered its global corporate solutions team by adding seasoned real estate executives Jessica Beers, MCR, and Bruce Ficke, who will advise real estate outsourcing teams serving the world’s top corporations on emerging real estate strategies with JLL’s Corporate Solutions group.
C&W Reps St. John’s University in Sale of 101 Murray St. in Lower Manhattan
St. John’s University “had their pick of offers” after it put its prime Lower Manhattan campus at 101 Murray St. up for sale and the result was a record-setting $223 million deal between the university and The Witkoff Group, Fisher Brothers and Vector Group.
Economy Watch: Housing Indexes, Truck Hauling, Coincident Indexes Up
House price appreciation continued in May, rising 0.7 percent from the previous month. The American Trucking Associations’ For-Hire Truck Tonnage Index, which is an indirect measurement of economic activity nationwide, edged 0.1 percent higher in June after surging 2.1 percent in May. And coincident indexes increased in 29 states.
Economy Watch Weekly: Detroit Hits the Rocks; Bernanke Talks Tapering Before Congress
CPE’s economic analyst, Dees Stribling, gives his update for the week ending July 19.
400-Unit M-F Asset in Hawaii Gets $59M in Financing
The Bascom Group and Morgan Stanley Real Estate Investing have landed approximately $59 million for the refinancing of Oasis at Waipahu, a 406-unit apartment property in Waipahu, on the island of Oahu, Hawaii.
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