Office
BMO Harris Bank: Midwest CRE to Improve in 2012
According to a new report by BMO Harris Bank, the Midwest is set for a recovery in its CRE markets during the rest of the year.
NorthMarq Arranges $59M in Financing for Chicago's 400 S. Jefferson Building
In an effort to help push along the schedule for Chicago’s 400 S. Jefferson building, NorthMarq has arranged $58.5 million in acquisition and renovation financing for the property.
MRA Group Sells 800 KSF Pennsylvania Tech Park
MRA Group has sold TEK Park, an 800,000-square-foot technology campus in Pennsylvania’s Lehigh Valley, to a New York-based investment group for more than $50 million.
Plano Retail Sites Trade; Trammell Crow Plans Furniture Store Redevelopment
By Camelia Bulea, Associate Editor Trammell Crow Co. reportedly has plans to redevelop the former Robb & Stucky Furniture retail site, at the southeast corner of the Dallas North Tollway and Legacy Drive, and transform it into two Class A office towers. The towers will together total between 400,000 and 500,000 square feet. The Dallas Morning […]
Opus Group Named Contractor for 165 KSF Build-to-Suit Office HQ in Colorado
Opus Development has won the bid for the 165,000-square-foot build-to-suit contract for TriZetto Group Inc.’s new $110 million global headquarters in metropolitan Denver.
CBRE Unit Acquires Historic Seattle Office Tower by Foreclosure
Smith Tower, an iconic 42-story office building in Seattle, and the adjacent Florence Building, a 6,000-square-foot retail-and-mixed-use building, have been acquired by CBRE Capital Partners following a foreclosure.
New Tishman JV Acquires Stakes in Office Portfolio in Deal Estimated at $1.6B
A joint venture between Tishman Speyer and an unidentified large pension fund has acquired the assets of Tishman Speyer Office Fund, an Australian listed property trust/REIT, in a deal worth a reported $1.6 billion.
Canadian REIT Acquires Westfield Business Park in Elgin
By Gabriel Circiog, Associate Editor Westfield Business Park, a 513,313-square-foot office complex located in Elgin, has been acquired by a newly formed Canadian real estate investment trust, Chicagorealestatedaily.com reports. In February, Commercial Property Executive reported on the intensified activities of Canadian REITs in the U.S. market after Vancouver, B.C.-based Onni Group agreed on a deal […]
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.”