Office
Hines, New York Retirement Fund Create $1B Office JV
Hines and the New York State Common Retirement Fund have formed a joint venture, Hines Corporate Properties II, that has been capitalized with $500 million of equity and will allow for the investment of more than $1 billion.
USAA, RXR, Broadway Partners JV for 750 KSF NYC Recap
The U.S. Republic Core Fund, an affiliate of USAA Real Estate Co., along with RXR Realty and Broadway Partners, announced the recapitalization of 340 Madison Ave.
Update: Creating the Big Picture for the WTC Site
At a reception hosted by CoreNet and Silverstein, preeminent developers, tenants and property managers of the WTC site discussed future plans, current signings and past successes on the leasing and development sides.
224 KSF Silicon Valley Office Campus Commands $45.8M
Great America Place has come under new ownership now that DJM Capital Partners has sold the Silicon Valley property to Newcastle Partners in a $45.8 million transaction.
JLL Brokers 110 KSF Deal of Office Space on Manhattan’s Third Avenue
The busy transactions in the Manhattan commercial market continue as JLL signs 110,000 square feet on Third Avenue for Cerberus Capital Management.
Savanna Signs 60 KSF New Leases on 40th Street in Manhattan
Savanna announced the signing of more than 60,000 square feet of new leases at 104 West 40th Street, representing nearly 30 percent of the building’s 210,000-square-foot capacity.
D.C.’s Capitol Plaza Sells for $150M to Principal Real Estate Investors
One of the brightest spots in D.C., the NoMa district, has just seen its Capitol Plaza office building change hands to Principal Real Estate Investors, L.L.C., for $149.5 million.
Transwestern’s Management Portfolio Increases by 1.6 MSF with Sumitomo Deal
Transwestern has increased its management responsibilities by approximately 1.6 million square feet after being chosen by Sumitomo to act as exclusive property manager.
Dundee REIT Picks up $832M Portfolio Across Four Canadian Cities
Dundee REIT announced it purchased a portfolio of office properties worth $831.8 million from affiliates of Blackstone Real Estate Advisors LP and Slate Properties Inc.
CBRE Wins Exclusive Rights to 300 MSF USPS Contract
Clearly, CB Richard Ellis Inc. didn’t mail it in when bidding for a big contract with the U.S. Postal Service, because the commercial real estate services firm is now the solutions provider for the entire Postal Service and its 300 million-square-foot portfolio.