Mid-Atlantic
LED Upgrade Will Be Latest Environmental Step for SL Green
SL Green Realty Corp. is nearing completion on an extensive, and apparently quite profitable, $2.5 million LED lighting retrofit involving 21 office buildings totaling 7 million square feet.
Brennan Investment Grabs National Industrial Portfolio for $155M
In a joint venture with London-based Gatehouse Bank plc, the private real estate investment firm acquired a national industrial portfolio from an affiliate of AIC Ventures.
Federal Realty Breaks Ground on 3.4 MSF Mixed-Use TOD in Rockville
The REIT is investing $250 million in the project’s first phase, a Federal Realty spokesperson told Commercial Property Executive.
Blackstone Sells DiamondRock Hotels, Wins Stake in Hotel Company
DiamondRock Hospitality Co. has agreed to buy four hotels from The Blackstone Group for $495 million in an off-market deal that also calls for Blackstone to take a $75 million stake in DiamondRock.
Vornado Buys, Sells–and Pulls Back Its Veil
Vornado had a busy 4th of July week, with nearly $1.3 billion in deals. But in announcing its array of purchases and dispositions, it has also been pursuing a new “transparency” strategy. What remains to be seen is how the market will react to everything it’s doing.
The Winners: CPE’s 2012 Distinguished Achievement Awards
CPE is pleased to announce the winners of the second-annual Distinguished Achievement Awards, recognized for their ability to complete deals and projects in the face of last year’s recovering economy.
Avison Young Picks Pittsburgh For U.S. Office No. 15
Canada’s largest independent commercial real estate services company has now opened seven U.S. offices in just the last three months and 15 altogether.
Savanna Sells $158M Senior Note Secured by D.C. Office Properties
Savanna wrapped up the sale to Apollo Global Real Estate of a majority interest in a $157.7 million note collateralized by a 1.4 million-square-foot office portfolio in Rosslyn, Va.
St. John Properties Acquires 1 MSF Pennsylvania Shopping Mall
St. John acquired a 1 million-square-foot distressed regional retail center in Harrisburg, Pa., from TD Bank, with plans to redevelop the mall.
Hull Storey Gibson Picks Up 434 KSF Retail Mall in Virginia
With an eye toward expanding its presence in the South, Hull Storey Gibson Cos. has just purchased Liberty Fair Mall in Martinsville, Va. The transaction adds 434,300 square feet to the retail property owner’s portfolio.