Regions
Hines to Renovate Phoenix Office Campus
The company plans to invest up to $1 million to upgrade the exterior of 24th at Camelback, a 627,000-square-foot office complex. The refurbishment is scheduled for completion by the end of the year.
Gramercy JV Buys 280 KSF Inland Empire Office Building
Working on behalf of Founders Properties, NKF brokered the sale of Northpointe in San Bernardino. TPG Capital teamed up with Gramercy Property to purchase the five-story asset.
Piper Jaffray Renews Lease, Relocates to AZ Camelback Esplanade
Lee & Associates brokered the 3,900-square-foot renewal, relocation and expansion for the lessee. CBRE worked on behalf of LBA Realty, the landlord.
Phoenix Industrial Asset Trades for $7M
The 86,000-square-foot distribution building is situated near Interstate-10 and Route 202. Axus Technologies occupies 23,000 square feet at the facility.
The Benefits of Investing in Contaminated Sites
Developing on environmentally contaminated sites might seem like a complicated investment strategy, but the high rate of return can make it worthwhile. Winefield & Associates’ Matt Winefield and Partner Engineering and Science’s Frank Romeo share their insights on how to make these projects successful.
Mack-Cali Sells NJ Flex/Industrial Park for $66M
Heritage Capital Group acquired the 13-building Totowa Commerce Center in Totowa, N.J., as part of a 1031 exchange. Natixis Real Estate Capital provided acquisition financing for the deal.
New York Life Secures NJ Retail Refi
EDENS’ 208,337-square-foot Closter Plaza in Closter, N.J., is home to big names such as Whole Foods and Target, and is the only shopping center within a 5-mile radius.
Economy Watch: Tech Sector Driving Office Demand
So far in 2017, the top 10 cities for office absorption include several tech-focused markets, including Brooklyn, Seattle and Santa Clara, Calif., according to a new Cushman & Wakefield report.
Hawaii’s Largest Office-Industrial Park Lands $165M Financing
Working on behalf of AIPA Properties, Sonnenblick-Eichner secured the 15-year, fixed-rate loan for Airport Industrial Park, a 1.3 million-square-foot mixed-use complex in Honolulu.
Pollack Realty Lands $26M for CA Boutique Hotel
HALL Structured Finance secured the first lien construction loan for the Park James Hotel in Menlo Park, Calif. The 61-key boutique hotel is scheduled for completion in May 2018.