Regions
CIM Group to Expand With Purchase of Cole Capital
VEREIT may receive as much as $200 million, composed of $120 million in cash at closing and as much as $80 million in fees to be paid under a six-year service agreement based on Cole’s future revenues.
JV Unveils $2.5B NJ Mixed-Use Waterfront Project
North American Properties and PGIM Real Estate will create Riverton, a 418-acre, shovel-ready waterfront redevelopment on the Raritan River. This is considered the largest mixed-use project in New Jersey history.
Lee & Associates Principal Receives SIOR Designation
McDougall has completed over 400 transactions in the Phoenix area, valued in excess of $100 million. He has over a decade of experience.
Sunstone Refinances $220M Loan for Hilton SD Bayfront
The interest-only loan offers a three-year initial term and three one-year extension options. The loan replaces the original, which was scheduled to end in August 2019 and had a higher interest rate.
Economy Watch Weekly: Industrial Outperforms
What has contributed to the industrial sector’s stellar performance in 2017? Economy Editor Dees Stribling discusses a recent Morningstar report that offers some revealing data.
Mixed-Use Center Sells for $13M in Chicago Suburbs
Marcus & Millichap brokered the sale of Metropolitan Square, a grocery-anchored lifestyle center, in Des Plaines, Ill. The firm represented the seller and procured the buyer.
Westover Buys Suburban Philly Retail Center
Gilbertsville Shopping Center is located in an area with good exposure. The Weis-anchored asset was 95 percent leased at the time of the transaction.
Hilton Opens Dual-Branded Hotel in Tempe, AZ
The 228-key property is situated along Route 101, close to the Arizona State University Research Park, which hosts companies such as Amazon, Digital Realty and GoDaddy.
Empire State Inks Full-Floor Lease at NYC Property
CBRE represented Universal Music Group in the lease negotiation for 26,150 square feet at 250 West 57th St. in Manhattan.
Waldorf Astoria NY to Undergo Major Renovation
The upgraded hotel will feature restored public and event spaces, 350 new guestrooms and suites, as well as 350 residences. Architectural firm Skidmore, Owings & Merrill and interior designer Pierre Yves Rochon were tapped to design the new space.