Northeast
780 KSF of Bronx Retail, Courtesy of Prestige Properties
In one of New York City’s larger projects this year, Prestige Properties has announced the development of a 780,000-square-foot retail center in the Bronx, to be anchored by a new Macy’s store.
Suffolk Construction Awarded Contract for 488 KSF Boston Residential Tower
Suffolk Construction recently received the contract for the 27-story Kensington residential tower in Boston from the building’s owners and partners, Kensington Investment Co. and National Development.
106 KSF Office Lease Signed at NYC’s 452 Fifth Ave.
Law firm Baker & McKenzie has inked a 15-year deal at 452 Fifth Ave., occupying seven floors of the trophy tower owned by IDB Group, for 105,803 square feet of space.
Gotham’s Full-City-Block, Four Building, $520M Groundbreaking in NYC
In one of the largest developments in New York City outside of the World Trade Center site, the Gotham Organization has begun construction on a $520 million residential project that will include more than 1,200 units and a school.
Vornado Makes Sales to “Focus on Core”
Vornado has entered into a $228 million deal to sell the 1.2 million-square-foot 350 West Mart Center office building in Chicago and signed a separate agreement to fork over ownership of four mixed-use retail assets in Manhattan for $78 million.
H&R REIT Picks up Two Gotham in Metro NYC for $415.5M
Canada-based H&R REIT has just made another marquee pickup, adding the newly constructed Two Gotham Center in Long Island City, N.Y., to its oversight for $415.5 million.
One Week, Nearly One Billion in Deals for Morrison & Foerster
Morrison & Foerster’s real estate group this week alone has represented three deals to the tune of nearly $1 billion and its chairman says Manhattan continues “bucking the trend” in CRE.
Sperry Van Ness Makes Entrée into NYC Market
SVN is opening a New York City office, to be called Sperry Van Ness | RealSite Group, and will be headed by managing director Anthony Casalena.
WRIT Completes Final, $70.6M Phase of Industrial Sale
Washington Real Estate Investment Trust has made its exit from the industrial real estate sector with the disposition of Dulles Business Park in Chantilly, Va., and 6100 Columbia Park Rd. in Landover Md.
UDR Completes Acquisition of NYC’s 21 Chelsea
UDR Inc. has just closed on the purchase of 21 Chelsea in New York City. The multi-family REIT acquired the 210-unit luxury apartment property for $138.9 million, including the assumption of $31 million of existing debt.