Northeast
Skanska Awarded $87M NYC Subway Construction Contract
Skanska USA’s civil infrastructure division, Skanska USA Civil, in a joint venture with RailWorks subsidiary LK Comstock and Co., has secured an $87 million contract with the Metropolitan Transportation Authority to provide construction services for the Second Avenue Subway systems project in New York City.
Chartres, Apollo Global JV Buys Times Square Novotel in $212M Deal
Under a sale and management-back agreement, a subsidiary of Accor Business and Leisure Management has sold the 480-room Times Square Novotel in New York to a joint venture of Chartres Lodging Group and Apollo Global Real Estate Management.
Leadership & Learning: Patience, Restraint Pay Off in Response to Occupy Wall Street
Brookfield faced challenges on multiple fronts with the Occupy Wall Street protests and it walked a fine line to deal with the problem. By Paul Rosta.
Silverstein, CalSTRS Tap JLL for Leasing at 1177 Avenue of the Americas
In order to best take advantage of its trophy property at 1177 Avenue of the Americas in Manhattan, the partnership of Silverstein Properties and California State Teachers’ Retirement System has chosen Jones Lang LaSalle Inc. as its leasing agent for the Class A, 1 million-square-foot office tower.
Pearson Signs 200 KSF Office Lease on Hoboken Waterfront
After signing Pearson to a 200,000-square-foot lease at the Hoboken Corporate Center across from New York City, SJP Properties will commence construction of a 500,000-square-foot building to complete its mixed-use complex.
Liberty Property Trust Builds 1.2 MSF Big-Box Industrial Space in Eastern Pa.
Capitalizing on the need for big-box industrial spaces, Liberty Property Trust is constructing a 1.2 million-square-foot speculative distribution property in Bethlehem, Pa., and has named Cushman & Wakefield Inc. as the exclusive leasing agent for the $62 million project.
BioMed Realty Trust Takes Cambridge Place for $119M
BioMed Realty Trust Inc.’s presence in the Boston/Cambridge life sciences market will soon surpass 3 million square feet, now that the life sciences real estate REIT has entered into an agreement to purchase the 287,000-square-foot Cambridge Place in for $119 million.
TIAA-CREF Spends $58M on Grocery-Anchored Connecticut Retail
TIAA-CREF picked up Kings Crossing Shopping Center in Fairfield, Conn., from previous owner HH East Parcel L.L.C., an entity led by Summit Development.
Wells Core REIT Acquires 201 KSF Maryland Office Building
Wells Core Income REIT has acquired the Franklin Center, a 200,600-square-foot office building in the Baltimore submarket of Columbia, Md., from Principal Real Estate Investors.
SL Green Completes Pieces of $416M Transaction Announced in October
In two separate transactions, SL Green finalized previously announced deals in its prime hunting ground, Midtown New York City.