Regions
AVR Snags $72M VA Hotel
SVN|Hamm & Co. represented the buyer in its purchase of Residence Inn Alexandria Old Town/Duke Street in Alexandria, which features 240 guestrooms across 257,000 square feet.
Forest City Sheds 1.2 MSF Shopping Mall
The company sold the Los Angeles-area asset to QIC as part of a 10-mall portfolio transaction expected to close this year.
DC-Area Retail Plaza Sells for $20M
Fortuna Center Plaza is a nearly 105,000-square-foot, grocery-anchored shopping center located in Northern Virginia. The more than $20 million deal was arranged by NKF Capital Markets.
Friendly Hills Marketplace in CA Sells for $40M
CBRE and NRP-West brokered the sale on behalf of the seller, Oppidan Inc. CBRE has also arranged an acquisition loan for the buyer.
Food Hall Opens at St. Louis Office High-Rise
Following a $2.5 million renovation of One Metropolitan Square’s ground floor, three restaurants have begun operations at the 1 million-square-foot office tower.
Economy Watch: US GDP Slows in 4Q
GDP growth was slower than in the second and third quarters of 2017, but still finished off the year above 2 percent.
ASB Fund Sells DC Trophy Building for $144M
Masaveu Real Estate US, an affiliate of internationally diversified Spanish conglomerate Corporacion Masaveu S.A., is the new owner of the 900 G St., N.W., office property in the city’s East End.
Large-Scale Industrial Project Breaks Ground in Phoenix
Irwin G. Pasternack AIA + Associates celebrated the start of construction for TEN Distribution Center 1, which is part of a planned $300 million, 3.6 million-square-foot industrial park.
Prologis, Norges Buy 1, Sell More
The joint venture partners wrapped up the acquisition of a San Francisco-area industrial property and the disposition of a 3.1 million-square-foot national logistics portfolio, which was picked up by a Blackstone affiliate. Together, the transactions involved a total of $310 million.
The ‘Coming of Age’ for Self-Storage
The property type has gone through significant changes over the last decade, gaining more access to capital and attraction from investors, notes a new report from Newmark Knight Frank’s Self-Storage Group.