Mid-Atlantic
NY Survey: Hurricane Sandy Still Dampens Lower Manhattan Real Estate
Nine months after Hurricane Sandy struck the Northeast, a majority of commercial real estate executives surveyed by accounting firm Marks Paneth & Shron think lingering concerns over future flooding in Lower Manhattan could limit interest in commercial properties in the area.
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.
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.
Mack-Cali to Sell Suburban Philly Office, Land Assets for $233M
Keeping in line with its diversification strategy into multi-family projects and its retreat from non-core office assets, Mack-Cali has struck a deal to dispose of its nearly 1.7 million-square-foot office portfolio and three land parcels in suburban Philadelphia.
Meridian Arranges $230M Loan for JDS’s Purchase of NYC’s Steinway Hall
Plans for a hotel and luxury condo project on West 57th Street in Manhattan are moving forward now that a joint venture led by JDS Development Group and Property Markets Group has acquired Steinway Hall at 109-113 West 57th St.
Meridian Arranges $155M in Financing for Purchase of Manhattan M-F Property
Meridian Capital Group negotiated $155 million in acquisition financing on behalf of Cammeby’s International for the purchase of the Monterey multi-family property on Manhattan’s Upper East Side.
Behringer, Wood Partners Kick Off $191M Suburban Boston M-F Project
Behringer Harvard and Wood Partners have commenced construction of 22 Water St., a luxury apartment community in Cambridge, Mass., just outside of downtown Boston.
Silverman Buys Third NJ Office, Rebrands Trio as Corporate Campus
Call it the opportunistic office park. Having just purchased the 133,000-square-foot office building at 106 Allen Road in Basking Ridge, N.J., The Silverman Group will now rebrand that building, and two adjacent ones it bought in the last few years, into The Offices at Liberty Corner, a 525,000-square-foot Class A corporate campus.
NewMarket Corp. Sells 311 KSF Office Building in Richmond, Va., for $144M
The world headquarters of paper, packaging and specialty chemical manufacturer MeadWestvaco, a nine-story trophy office building in Richmond, has been purchased by Select Income REIT for $144 million, excluding transaction costs.
C&W Wins WTC Site-Wide Property Management Contract
Cushman & Wakefield just landed one of the most coveted real estate assignments in Manhattan, if not the entire country. The commercial real estate services firm has been selected by the Port Authority of New York and New Jersey to serve as site-wide property manager for the new World Trade Center site under a seven-year contract.