Regions
Pennsylvania Offices Trade for $23M
Brookwood Financial Partners LLC disposed of three office buildings totaling 150,000 square feet located in suburban Philadelphia and the Lehigh Valley area. The properties are part of a 29-asset portfolio that the firm purchased in 2015.
Meridian Provides Tenant Buildout at Illinois Mixed-Use Facility
The project added 10,601 square feet of office space and warehouse improvements to a 112,288-square-foot industrial property in Glendale Heights, Ill.
Celebrating 30: Kelo v. City of New London
We’re celebrating our 30th anniversary by highlighting some of the most significant events in commercial real estate’s history. Stay tuned for our weekly posts and follow along with us on social media using the hashtag #CPETurns30.
Economy Watch Weekly: Interest Rates Rise While Retail Sales Dip
In a unanimous vote, the Federal Reserve decided to raise interest rates for the second time in 2017, indicating their optimism about the U.S. economy and the ability to handle more expensive real estate financing. But some sectors, such as retail, aren’t performing as well as others in recent months. Economy Editor Dees Stribling has the latest.
Denver Office Building Trades for $37M
Amstar purchased a seven-story, 131,000-square-foot property in the Cherry Creek submarket of Denver. The company is planning to invest nearly $2 million in various upgrades.
Newly Renovated Baker Center Opens Doors
The new features of the four-building complex in downtown Minneapolis include a large media wall, a two-story entry atrium, a new amenity floor and a panoramic rooftop deck.
Cullinan Properties Expands Illinois’ Levee District
The new multi-tenant retail building will be located between Panda Express and McDonald’s and will be home to T-Mobile starting this fall.
Finmarc Nabs VA Shopping Center
Festival at Manassas, an 117,000-square-foot shopping center in Manassas, Va., traded for $20 million. Bill Kent of CBRE represented the seller, Katz Properties.
CBRE Arranges Sale of San Diego Office Building
Washington Capital Management sold a 40,000-square-foot office building in San Diego for $12.5 million. At the time of sale, the property was fully leased by the University of Southern California.
Ashford Prime Extends Ground Lease for San Diego Hilton
The company has extended the lease at the 394-key property by 24 years, with a new expiration date in 2067. The agreement also provides for a further extension opportunity.