Property Management
Economic Development Coup as Aurora Lands New Distribution Center
By Gabriel Circiog, Associate Editor Following a new 10-year agreement, Aurora has managed to land a new $45 million distribution center for United Natural Foods, which will ensure the addition of 75 new jobs and the retaining of 475 existing … Continue reading →
Ventas Set to Buy 16 Seniors Communities for $362M
Ventas has entered into a definitive agreement to acquire 16 private-pay communities from affiliates of Sunrise Senior Living and its institutional joint venture partner for $362 million.
Kennedy Wilson Sells Two Multi-Family Properties for $154M
Kennedy Wilson has shed two multi-family assets — 360 Residences in San Jose and Arbor Creek Apartment Homes in Beaverton, Ore. — for a total of $154 million to two separate buyers.
TIAA-CREF Picks JLL as Leasing Manager for 475 Fifth Avenue in NYC
The Manhattan office building at 475 Fifth Ave. came under new ownership last fall when TIAA-CREF acquired it for $144 million, and now it has come under new management. Jones Lang LaSalle has been chosen to serve as the exclusive property manager and leasing agent for the 280,000-square-foot asset.
NKF Brokers 916 KSF Chicago Industrial Lease
Following the trend of positive industrial fundamentals in the Chicagoland area, supply-chain firm M. Block & Sons has signed a 915,645-square-foot lease at 18801 Oak Park Ave. in Tinley Park, Ill. Newmark Knight Frank Epic represented the tenant in the lease transaction.
American Realty Advisors Picks Up More Than 900 KSF Across Five Assets
American Realty Advisors’ commercial real estate purchasing activity has just swelled by approximately 900,000 square feet — and then some — with the recent addition of five properties spanning the industrial, multi-family, office and retail sectors.
Best Buy to Shutter 50 Stores
Over the weekend, the giant electronics retailer Best Buy said that it will close about 50 stores out of its total of around 1,100. The announcement came not long after the sudden resignation of CEO Brian Dunn, for as-yet unclear but possibly scandalous reasons, though it seems unlikely that the two events are directly related.
Miami's 4.2 MSF Flagler Station Sold to AEW for $340M
The industrial portfolio of Flagler Station, South Florida’s largest business park at approximately 4.2 million square feet, has been sold by its developer to AEW Capital Management for a reported $340 million.
KBS Legacy Partners Acquires 255-Unit Multi-Family Property Outside Baltimore for $65M
KBS Legacy Partners Apartment REIT has just completed the purchase of the 255-unit The Residence at Waterstone in Pikesville, Md., taking it off the hands of Avalon Village Green Associates for $64.7 million.
Pru Nets $568M in Capital for Seniors-Housing Fund
Prudential Real Estate Investors is set to make a big impression in the seniors-housing sector, having raised $568 million for its newest and largest seniors-housing fund.