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Top 5 Office Portfolio Transactions of 2017
Throughout the past year, the U.S. office transaction volumes softened, but this didn’t stop institutional investors such as Duke Realty, BlackRock or JPMorgan to trade massive portfolios at high prices, Yardi Matrix data shows.
Multiplex Delivers $225M Learning Space to Australia’s Monash U
The company completed the project in March, adding 314,600 square feet of new world-class education space to the Clayton campus. Designed by John Wardle Architects, the development features a four-level building and a new regional transport interchange.
Rockwood Capital Buys Bay Area Office Park
NKF Capital Markets represented Invesco in the sale of Growers Square, a three-building, 195,372-square-foot Class A development in downtown Walnut Creek.
Seattle Marriott Lands New Management
The property, which opened in August of 2017, includes 234 guestrooms in downtown Bellevue, half a mile from Interstate 405.
Hersha Sells Manhattan Hotel for $32M
The firm traded the 81-key Hampton Inn Financial District as part of its capital recycling program. Solid Rock Advisors advised Hersha on the sale.
The Hampshire Cos. Opens NJ Storage Facility
The new 81,745-square-foot Extra Space Storage marks the company’s 38th facility in total and the seventh in Carteret, N.J.
1788 Holdings Acquires PA Industrial Asset
Riverside Business Center in Whitehall comprises 423,900 square feet and was 87 percent leased to 11 tenants at the time of sale.
Carver Bank Relocates Manhattan HQ
Following the sale of its previous location, the bank has signed a 20,000-square-foot lease in a recently refurbished historic building in Harlem, maintaining its 70-year presence in the neighborhood.
Calida Grows Vegas Portfolio With 180 Units
New ownership will use part of the loan received from PCCP LLC to renovate the community. Hampton Garden is located in the Summerlin/Spring Valley area, a top-performing submarket.
Red Roof Gets New Ohio HQ
The company will relocate from downtown Columbus to a new 43,000-square-foot office in New Albany, Ohio, to accommodate its growing corporate team.