Office
Boston Properties to Sell Ownership Interest in Times Square Tower for $684M
Boston Properties has entered into a binding purchase and sale agreement to sell a 45 percent interest in the ground leasehold interest and related tax credits in New York City’s Times Square Tower to an affiliate of Norges Bank for a purchase price of $684 million in cash.
Connected Vehicle Research Center Planned on Old GM Industrial Site
The RACER Trust, Devon Industrial Group and Walbridge Development are teaming up to transform the former Willow Run Powertrain plant in Ypsilanti Township, Mich., into a technologically advanced connected vehicle research center.
World’s First Forbes-Branded Office Tower to Rise in Philippines
Forbes Media has chosen the Philippines as the site for the world’s first Forbes-branded office high-rise. The company has partnered with local developer Century Properties Group to build the approximately 646,000-square-foot Forbes Media Tower in Makati, a suburb of Manila.
Cornerstone Buys Boston Trophy Tower for $110M
Cornerstone Real Estate Advisers, a subsidiary of MassMutual Financial Group, has acquired 99 Summer St. in Boston from Normandy Real Estate Partners for $110 million on behalf of a Cornerstone-managed fund.
Clarion Gets $150M in Financing for 1.3 MSF Office Park in Norwalk, Conn.
An ownership entity managed by Clarion Partners has secured $150 million in financing for the 1.4 million-square-foot Merritt 7, an office park in Norwalk, Conn.
Parallel Discusses Strategy Behind Purchase of Landmark Dallas Towers
The purchase by Parallel Capital Partners of the 850,000-square-foot, two-building Urban Towers project in Irving, Texas, announced late Tuesday, marked the company’s re-entry into the Dallas–Fort Worth market.
Avison Young Buys Witherspoon & Carswell, L&W; Opens 5th Office in Florida
Avison Young has launched its fifth Florida office in the past year with the purchase of Tampa-based Lane Witherspoon & Carswell Commercial Real Estate Advisors and sister company L&W Commercial Property Management.
USAA Buys 262 KSF Office Building in San Antonio
USAA Real Estate has acquired One Riverwalk Place, an 18-story, multi-tenant office building located in the central business district of San Antonio, from Winthrop Realty, an affiliate of Apollo Real Estate Advisors.
CBRE Tapped to Manage London’s Gherkin
CBRE Group is taking over management of the 516,668-square-foot, 40-story skyscraper in central London known as The Gherkin. One of the world’s most iconic commercial buildings, the mixed-use high-rise is nearing its 10th anniversary.
Hines-Managed Coca-Cola Building in Rio de Janeiro Receives Brazil’s First LEED-EB Silver Certification
The 19-story office building that has housed the soft drink manufacturer’s Brazilian administrative HQ, since 2003 has become the first building in the country to obtain LEED-EB Silver certification.