News
Stan Johnson Completes $62.7M, 20-Property Portfolio Sale
Tulsa, Okla.-based net lease brokerage firm Stan Johnson Company has completed the $62.7 million sale of a 20-property retail portfolio fully occupied by CVS/pharmacies.
Tiffany & Co. to Consolidate in 260,000 SF at 200 Fifth Avenue
Tiffany & Co. just signed a deal to occupy 260,000 square feet of office space in the jewel of a building at 200 Fifth Avenue in Manhattan’s Flatiron District. The new 15-year lease agreement with property owner L&L Holding Co. will allow Tiffany to unite employees at the company’s three headquarters locations under one roof.
Economy Watch: The Greek Contagion Expands Like… Ebola?
The eyes of the financial chattering classes are on Greece, whose problems have lately been compared by Angel Gurria, secretary general for the Organization for Economic Cooperation and Development, to (of all things) the fast-spreading, all-consuming viral disease Ebola.
Astellas Breaks Ground on New 425,000 SF Headquarters
Japanese pharmaceutical firm Astellas US Holding, Inc. today broke ground on its new 425,000 square-foot, two-building U.S. headquarters in Glenview, Ill. The acquisition of the eight-acre former Culligan Water site was done last year, with MB Real Estate’s Corporate Services and Tenant Advisory team representing Astellas.
Ireland Sees Its First–and Costliest–Hotel Transaction in Two Years
In a cash transaction that marks the first hotel sale in Ireland in two years, the 73-room Chief O’Neill’s Hotel has just come under the ownership of an international company seeking entry into the city.
NewMark Merrill Wraps up 385,712 SF in SoCal Property Management Contracts
Retail development and property management firm NewMark Merrill Companies has expanded its portfolio by 385,712 square feet. The Woodland Hills, Calif.-based firm has inked five new property management contracts, all on shopping centers in Southern California.
JLL Squeaks past the Postive in First-Quarter Earnings
Jones Lang LaSalle has reported net income of $0.2 million for the first quarter – a marked improvement from a net loss of $61 million a year earlier.
Economy Watch: More Maneuvering by Simon in Quest for GGP
General Growth Properties is on the balcony on a moonlit night while suitor Simon Property Group Inc. tries to serenade GGP with ever-sweeter melodies. As of Wednesday, the new verse in that sweeter song was about Simon agreeing to accept a lower percentage voting stake in its erstwhile mall rival, according to unnamed sources cited by Reuters.
Premier 163,000-SF Office Building in Houston’s Energy Corridor Changes Hands
A bevy of eager investors took a great deal of interest in acquiring One Park 10 Plaza in Houston’s desirable Energy Corridor, but it was Beacon Investment Properties Inc. that emerged victorious.
Rockefeller to Build on 23.6-Acre Southern California Site
Rockefeller Group Development Corporation has received entitlements for the construction of the Rockefeller Group Professional Center on an approximately 23.6-acre site in Torrance, Calif.