Regions
Taubman Breaks Ground on Luxury 450 KSF Open-Air Mall near St. Louis
The composition of the St. Louis-area retail market will soon undergo a notable change now that Taubman Centers Inc. has broken ground on a new outlet-shopping destination, the 450,000-square-foot Taubman Prestige Outlets Chesterfield, in Chesterfield, Mo.
Hard Rock Proposes $275M Entertainment Project in Northeast Ohio
Gambling that video lottery terminals at Ohio racetracks will soon be legal, Hard Rock International and Milstein Entertainment announced a joint venture to develop a $275 million gaming and entertainment center at Northfield Park, a northeast Ohio harness-racing track.
DDR Buys Out Partner's Ownership Stake in Two Retail Centers for $70M
Fourteen years after becoming a 50 percent owner of Portland’s Tanasbourne Town Center and Phoenix’s Arrowhead Crossing in a joint venture with DRA Advisors Inc., DDR Corp. has acquired its partner’s stake in the assets for $70 million.
Hines Global REIT Spends $131M on 1.8 MSF of Industrial Properties in Poland
With the purchase of a 1.8 million-square-foot logistics portfolio, Hines Global REIT has made its entrée into Poland. The REIT, sponsored by real estate investment firm Hines, acquired the group of four properties from ProLogis European Holdings for approximately $130.8 million.
Inland Real Estate Continues Midwest Retail Spree
Inland Real Estate Corp. has been busy in the last month. This week, the firm picked up seven single-tenant retail properties that feature 95,630 square feet of gross leasable area, as well as two grocery-anchored retail properties in Wisconsin, for an aggregate $78.3 million.
New Tishman JV Acquires Stakes in Office Portfolio in Deal Estimated at $1.6B
A joint venture between Tishman Speyer and an unidentified large pension fund has acquired the assets of Tishman Speyer Office Fund, an Australian listed property trust/REIT, in a deal worth a reported $1.6 billion.
Wood Partners, East West Partners Arrange $62M in Capital for Denver Multi-Family
The road has been paved for Wood Partners L.L.C. and East West Partners to commence construction of Alta City House, a luxury apartment project in Denver’s blossoming Union Station/Riverfront Park redevelopment, now that the developers have arranged capital from USAA Real Estate Company to move forward with the $62 million project.
Cushman: Landlord's Market Approaches as Manhattan Office Vacancy Falls to 9%
Despite a lull in first-quarter leasing volume, Manhattan’s tightening office market is on track to give landlords the upper hand in the near future, according to projections released yesterday by Cushman & Wakefield Inc.
885 KSF UnitedHealthcare Center in Hartford Sells for $99M
CityPlace has closed on the sale of UnitedHealthcare Center in Downtown Hartford, Conn., for $99 million. Services firm Jones Lang LaSalle, which brokered the transaction, calls the property “the tallest building in Connecticut and the only office tower in Hartford greater than 30 floors.”
Clarion Picks up Seattle's 32-Story Qwest Plaza for $137M
CenturyLink has sold 1600 Seventh Ave., a 32-story, downtown Seattle office building, to Clarion Partners for $137 million. The telecommunications giant will continue to have offices in the 598,000-square-foot tower but retailer Nordstrom will be leasing most of the space.