Regions
Madison International Buys Forest City Retail Stake for $1B
The company, which already owns a 49 percent stake in the New York City properties, is acquiring the remaining 51 percent interest from Forest City Realty Trust.
Philly-Area Gateway at Greenway Park Tops Out
The mixed-use project in Bethlehem, Pa., will include a 600-space parking, office and retail space. St. Luke’s University Health Network and Lehigh University are among the building’s anchor tenants.
Metro Commercial Hires New EVP
Jim Savard stepped up as the company’s newest executive vice president of leasing, after occupying various executive roles at Core Realty and JLL.
Economy Watch: Fed to Begin Divesting Balance Sheet
The Federal Reserve will start reducing its $4.5 trillion in holdings next month, including $1.8 billion in mortgage-backed securities.
Brandon Wang Joins Lincoln Property Company as EVP
Wang has extensive experience in Northern California real estate and he will manage the company’s West unit. He will oversee several operations, including purchases, development, asset and property management.
San Diego Office Property Gets New Owner After 60 Years
Kennedy Wilson represented the seller of the leasehold interest in the property and the buyer of the fee interest in the land. The Little Italy asset traded hands for the first time in 63 years.
Demand on the Rise in Phoenix
At midyear, Phoenix’s office inventory totaled 108 million square feet. Transaction volume for the 12 months ending in July totaled $1.2 billion, corresponding to the more than 11 million square feet that changed ownership.
Newport Beach Office Tower Trades for $76M
American Realty Advisors sold 4100 Newport, a 190,400-square-foot office tower in Orange County, Calif., to Olen Properties in a transaction that’s been deemed the area’s largest office sale by price per square foot.
Hillwood to Deliver 1.7 MSF Kentucky Industrial Project
Hillwood and Al. Neyer plan to develop two speculative buildings, totaling more than 1.7 million square feet, in Erlanger, Ky. The construction of Building 1 will start in 2018.
Enerkem Begins Commercial Production of Cellulosic Ethanol
The company’s facility in Canada is the first commercial-scale plant in the world to produce cellulosic ethanol made from non-recyclable, non-compostable mixed municipal solid waste.