Office
400 KSF Long Island Office Portfolio Changes Hands
CenterSquare Investment Management Holdings, known as Urdang Capital Management until prior to July 1, and Ivy Realty have sold Crossroads Corporate Center and Crossroads Executive Center, two multi-building office parks on Long Island, N.Y.
NY Survey: Hurricane Sandy Still Dampens Lower Manhattan Real Estate
Nine months after Hurricane Sandy struck the Northeast, a majority of commercial real estate executives surveyed by accounting firm Marks Paneth & Shron think lingering concerns over future flooding in Lower Manhattan could limit interest in commercial properties in the area.
Hines Commences 300 KSF Spec Office Project in Denver
Who’s afraid of speculative development? Not Hines. The real estate firm has just broken ground on 1601 Wewatta, a 300,000-square-foot office tower that will sprout up in Denver’s burgeoning lower downtown district.
Brookfield’s Canadian REIT Grabs Bay Adelaide Centre East in Downtown Toronto
Brookfield Canada Office Properties announced plans to buy Bay Adelaide Centre East office tower in downtown Toronto from its parent company, Brookfield Office Properties.
Mack-Cali to Sell Suburban Philly Office, Land Assets for $233M
Keeping in line with its diversification strategy into multi-family projects and its retreat from non-core office assets, Mack-Cali has struck a deal to dispose of its nearly 1.7 million-square-foot office portfolio and three land parcels in suburban Philadelphia.
Colliers: Midyear, Uneven U.S. Economy Worrisome, but NYC Enjoys Banner First Half
Halfway through 2013, New York City’s office market continues to transcend the uneven national economy, even as economists limit their expectations for the rest of 2013.
CalPERS Fund Buys LA-Area Buildings from Hines for $550M
TechCore, a fund managed by GI Partners, has purchased One Wilshire, a 30-story Class A telecom and office building in downtown Los Angeles, as well as three buildings in the L.A. suburb of El Segundo, for a total of $550 million.
Meridian Arranges $230M Loan for JDS’s Purchase of NYC’s Steinway Hall
Plans for a hotel and luxury condo project on West 57th Street in Manhattan are moving forward now that a joint venture led by JDS Development Group and Property Markets Group has acquired Steinway Hall at 109-113 West 57th St.
Cielo Buys 243 KSF Texas Office Tower
Cielo Realty Partners has purchased Neuhaus Tower, a 17-story, 243,000-square-foot office tower in McAllen, Texas, from an affiliate of Brookfield Asset Management for an undisclosed amount.
Allegiance Sells 202 KSF, Two-Building Atlanta Office Park to Cornerstone
Allegiance Realty has sold the 202,000-square-foot The Park at Windward Concourse in Alpharetta, Ga., three years after buying it. Allegiance and Cornerstone Real Estate Advisers, the buyer of the Class A, suburban Atlanta property, are keeping mum on the dollar signs involved in the off-market transaction.