Northeast
Seagis Property Group Expands NYC Portfolio
The company acquired three warehouses totaling 135,000 square feet. This purchase marks Seagis Property Group’s entry into the Brooklyn submarket.
Empire State Inks 108 KSF Lease at 1400 Broadway
The company secured international law firm Fragomen, Del Rey, Bernsen & Loewy to lease floors eight through 10 at the iconic 37-story high-rise. Members of NKF represented both Fragomen and the landlord.
Madison International Buys Forest City Retail Stake for $1B
The company, which already owns a 49 percent stake in the New York City properties, is acquiring the remaining 51 percent interest from Forest City Realty Trust.
Philly-Area Gateway at Greenway Park Tops Out
The mixed-use project in Bethlehem, Pa., will include a 600-space parking, office and retail space. St. Luke’s University Health Network and Lehigh University are among the building’s anchor tenants.
Metro Commercial Hires New EVP
Jim Savard stepped up as the company’s newest executive vice president of leasing, after occupying various executive roles at Core Realty and JLL.
Monday Properties Hires New SVP
Wes Machowsky is the firm’s newest senior vice president of acquisitions, bringing vast real estate capital markets and leasing experience to the position.
CIM Group Snags Boston Office Property
The company has partnered with longtime owner and manager Nordblom to acquire 1000 Washington St., a 242,000-square-foot building and adjacent parking garage in the city’s South End.
GTJ REIT Snags FedEx-Leased NY Facility
The 43-acre, 248,370-square-foot property, located in a major logistics hub, is leased and occupied by FedEx Ground for a 10-year term.
Fitch: More U.S. Lodging Consolidation Is Expected
The growing power of industry leaders will drive more lodging consolidation, with Hyatt and La Quinta as desirable targets, per the rating agency’s most recent report on hospitality. Such growth strategies are also a way to balance the competitive environment disrupted by alternative accommodation operators.
NJ Shopping Center Changes Hands
The Hampshire Cos. sold Towne Shopping Center, a retail center anchored by ShopRite. The firm acquired the property in 2012, increasing its net operating income by creating a stabilized tenant roster.