Northeast
Cushman: Landlord's Market Approaches as Manhattan Office Vacancy Falls to 9%
Despite a lull in first-quarter leasing volume, Manhattan’s tightening office market is on track to give landlords the upper hand in the near future, according to projections released yesterday by Cushman & Wakefield Inc.
885 KSF UnitedHealthcare Center in Hartford Sells for $99M
CityPlace has closed on the sale of UnitedHealthcare Center in Downtown Hartford, Conn., for $99 million. Services firm Jones Lang LaSalle, which brokered the transaction, calls the property “the tallest building in Connecticut and the only office tower in Hartford greater than 30 floors.”
BPG's $83M Spend Nets Two Virginia Multi-Family Properties
BPG Properties has made an $83.4 million investment to acquire two multi-family communities in Fredericksburg, Va. Together, the two properties — Greens at Falls Run and Manor at England Run — total 676 units and are 95 percent occupied.
Wilder Cos. Nabs 412 KSF Retail Management Contract for Two Properties
The Wilder Cos. has just added 412,000 square feet of shopping-center responsibilities to its plate. The retail real estate services firm won a contract to spearhead leasing and management at Suburban Philadelphia’s The Shops at Valley Square, and another assignment to provide the same services at Somerset Square, located just outside of Hartford, Conn.
Boston's New Longwood Life-Sciences Building Leases 154 KSF
Courtesy of a many-layered deal involving multiple joint-venture partners, Boston’s Longwood area will see the construction of a 413,536-square-foot life-sciences center — and Dana-Farber Cancer Institute has inked a 154,000-square-foot lease in the property.
Bostonia Partners Secures $72M in Financing for NOAA Weather Center in Maryland
A $72 million financing deal secured by Bostonia Partners L.L.C. helped complete construction on a new NOAA Center for Weather and Climate Prediction in Maryland after it was stalled for more than two years because the original developer went bankrupt.
Wheeler to Run JLL's Lower Manhattan Office
Jones Lang LaSalle Inc. sees big prospects blossoming in Lower Manhattan, and the commercial real estate services firm has just assigned managing director John Wheeler, a longtime JLL employee with nearly three decades of experience, the task of spearheading the office’s increasing penetration of the submarket.
AvalonBay Spends $63M on N.J. Multi-Family Complex
After a $63 million purchase, AvalonBay Communities Inc. is the proud owner of Windsor at Crystal Ridge, a 334-unit, Class A multi-family complex in central New Jersey.
Pru Delays $444M Newark Tower
The near-term fate of Prudential Financial’s proposed $444 million, 650,000-square-foot office-tower development in downtown Newark rests with the New Jersey Economic Development Authority and the Appellate Division of New Jersey’s Superior Court.
Boston Properties Completes Acquisition of 100 Federal St. in Boston
Boston Properties has completed the acquisition of 100 Federal St. in Boston from an affiliate of Bank of America with an aggregate investment of about $615 million — reportedly funded with available cash.