Regions
Turnaround Titan: VEREIT’s Glenn Rufrano Thrives on the Industry’s Toughest Cases
At a stage in his career when executives often look to lessen their workloads, Glenn Rufrano decided to take on one of the biggest challenges of his professional life: becoming the CEO of the net-lease REIT American Realty Capital Properties Inc. (ARCP).
NoVA Distribution Facility Lands $18M in Financing
The 487,897-square-foot asset is fully leased to CVS Caremark Corp. and consists of three buildings: a main building housing a warehouse and offices, an aerosol storage facility and a truck repair facility.
NJ Retail Centers Trade for $34M
The two properties total 110,000 square feet and were sold to an affiliate of Urstadt Biddle Properties Inc. and The Klein Group LLC, in a transaction brokered by Gebroe-Hammer Associates.
Pair of NJ Office Buildings Trade for $21M
Alma Realty acquired the buildings out of REO through a sale arranged by CBRE, after the previous owner defaulted on a $24.1 million loan. The assets are 77 percent leased and offer 41,400 square feet of vacant space.
London Mixed-Use Building Commands $237M
Tishman Speyer sold 100 New Oxford St., an office and retail building totaling more than 106,000 square feet, to a joint venture between Thor Equities and AEW.
Toyota, Mazda Alliance to Yield $1.6B North America Plant
The two car giants’ new agreement calls for the joint development of a manufacturing facility that would begin producing vehicles in the U.S. in 2021.
Panama Canal Expansion Lifts Coastal Markets: JLL
The $5 billion development has provided a boost to the nation’s ports, where vacancy rates for industrial space are at record lows and rents are climbing, according to a new JLL report that notes the majority of new construction will be at East Coast and West Coast seaports.
Hyatt Centric Expands in Latin America
The company is set to open two hotels in Peru and Chile in 2018, which will mark the introduction of the Hyatt Centric brand in these countries.
San Jose Office Building Trades for $50M
Menlo Equities sold a 180,000-square-foot building in Milpitas, Calif., to Nazareth Enterprises. At the time of sale, the asset was fully leased to Johnson & Johnson Vision.
Massive 4.5GW TuNur Solar Project Could Power the EU
If the solar project receives the required authorization, it would generate sufficient electricity to power more than five million European homes or fuel more than seven million electric vehicles.