Property Management
BioMed Realty Trust Expands San Diego Portfolio
By Gabriel Circiog, Associate Editor BioMed Realty Trust, Inc. has acquired two parcels of land totaling 28 acres in San Diego for approximately $47 million, excluding transaction costs. The locally based company announced that it has leased the two sites to Advanced BioHealing, Inc., a subsidiary of Shire plc, in a long term deal. Advanced […]
Stiles Realty Taps Industry Veteran Paul Marko as President
The CBRE alumnus’ new mission: enhancing the firm’s presence across Florida while strengthening its foothold in core South Florida markets.
Cushman Arranges 1.1 MSF Industrial Lease Re-Up in California
Conopco Inc., a subsidiary of Unilever, has decided to stay put in its 1.1 million-square-foot home at 305 W. Resource Dr. in Rialto, Calif., and has renewed its contract with property owner Prologis.
The Silverman Group Purchases 560 KSF of Industrial Space in North Carolina from W.P. Carey
The Silverman Group has added 560,000 square feet of space to its industrial portfolio with the acquisition of 10000 Twin Lakes Parkway, a Class A distribution center in Charlotte, N.C.
Nine-Property Net-Leased Walgreens Portfolio Sells for $69M
Investors can’t seem to get enough of the net-lease market: An unidentified institutional investment firm beat eight others in a bidding war, acquiring a 117,600-square-foot portfolio of nine Walgreens stores on the East Coast for $68.7 million.
Wharton Equity Partners Acquires 500-Unit Florida Multi-Family Portfolio for $50M
Wharton Equity Partners, in partnership with a consortium of real estate funds affiliated with Och-Ziff Capital Management Group, has just increased its holdings by an additional 900 units with the purchase of a stake in four properties in Central Florida.
Caliber Funding Selects NGKF as Portfolio Adviser for 100 Locations in 28 States
Newmark Grubb Knight Frank Global Corporate Services has secured a major outsourcing deal, the firm’s second in just over one month, as Caliber Funding chose the firm to manage the real estate mortgage lender and agency direct seller/servicer’s real estate transactions across the country.
Renovation Spree Hits Detroit Area Masonic and Hindu Temples
By Veronica Grecu, Associate Editor The Detroit Masonic Temple in the lower Midtown area and several blighted properties in the surrounding area could embark on a $38 million renovation project. According to The Detroit News, a team of state and local brokers is currently establishing the financial aspects of the investment, which could get the […]
Scalable Class A, 384 KSF Office Planned for Tempe Park
Metro Commercial Properties and USAA Real Estate have announced the next phase of high-rise office development in Tempe, Ariz., and the firms plan for a Class A office tower, dubbed Fountainhead Park Summit, of up to 14 stories and totaling up to 384,300 square feet.
Harbor Group Spends $100M on Florida Multi-Family Portfolio
Harbor Group International has made another multi-family purchase, snapping up a three-property apartment portfolio in three Florida markets for a total of $99.7 million – a purchase price of approximately $4,000 per unit.