Regions

ProLogis has leased approximately 750,500 square feet near Chicago to Kimberly-Clark Corp., a leading global, health and hygiene company.ProLogis Park 55 is a distribution park located southwest of Chicago in Romeoville, Ill., off Interstate 55. ProLogis owns and operates six buildings in the industrial park, comprising more than 3.1 million square feet of class A distribution space. This transaction marks the third lease agreement between the two companies. Kimberly-Clark now occupies approximately 1.6 million square feet with ProLogis in various locations across North America.  “This is one of the largest lease agreements for ProLogis in the United States this year…

Lowe Enterprises, lead developer of CityVista, a $200 million mixed-use project in Washington, D.C., said the development team has sold the 116,000-square-foot retail portion of the site to Edens & Avant. Financial details of the transaction were not disclosed. “This is a strategic acquisition for the company to expand its presence within the Washington, D.C., city limits,” Jodie McLean, Edens & Avant president & Chief Investment Officer, told CPN. Lowe Enterprises, headquartered in Los Angeles, is building CityVista (pictured) at 5th and K streets, NW, in the Mount Vernon Triangle section of Washington, D.C. The ownership group also includes CIM…

ING Clarion Partners L.L.C., the North American investment management division of ING Real Estate, has leased 62,000 square feet at Metropolitan Center to travel retailer Hudson Group.  Hudson Group has been Metropolitan Center’s tenant since 1995 and has agreed to a 10-year, 31,000-square-foot expansion and extension of its current 31,000-square-foot premises. The company will now occupy the entire ninth and eleventh floors of the building.Cushman & Wakefield Inc. represented both the landlord, ING Clarion Partners, and the tenant in the transaction.Situated at Exit 16W off the New Jersey Turnpike at the junction of Routes 3 and 120, Metropolitan Center is…

Environmental remediation has been completed on the 132-acre Riverbend District, formerly known as Harrison MetroCentre, in Harrison, N.J., which will allow owner-developer Advance Realty Group to move forward with construction of infrastructure such as roads and utilities. Phase I of the Riverbend District will include more than 800,000 square feet of retail space, including an anchor grocery; a 16-screen cinema; restaurants; a 200-room hotel and a 350-room hotel with 25,000 square feet of conference space; a wellness center; 1.5 million square feet of office; and about 1,800 for-sale and rental residential units. Construction on these elements is expected to begin…

The Dallas office of Holliday Fenoglio Fowler L.P. has secured a $50.78 million loan through Freddie Mac for the owners of two Alabama multi-family properties with a total of 792 units. HFF director Brian Carlton arranged the 10-year, fixed-rate loan on behalf of the borrower, The Greens at Tuscaloosa, a limited partnership, and Lindsey Management Co. Proceeds were used to retire construction financing for The Links at Tuscaloosa, a 408-unit community, and The Greens at Tuscaloosa, a 384-unit development. The properties, located at 1800 Links Boulevard in Tuscaloosa, Ala., were completed in 2007 and are about 97 percent leased. Despite…

Viacom has decided to keep its global headquarters at 1515 Broadway in Times Square, renewing and extending its lease for 1.3 million square feet of space at the 54-story Midtown Manhattan skyscraper that is home to MTV studios and the Nokia Theater. SL Green, the commercial real estate firm that co-owns the building with SITQ of Canada, said Tuesday it is the third largest lease in Midtown Manhattan history. The lease renewal through 2015 includes 1.1 million square feet that was to expire in two years along with an extension of 170,000 square feet that was to expire in 2012…

New York City’s commercial real estate market isn’t immune to the fallout caused by the economic downturn. Transactions have plummeted 61 percent from the beginning of the year through October, according to data from Real Capital Analytics Inc. In the longer term, however, the outlook for the market remains strong.The credit crunch has been “very democratic” in terms of its impact on the commercial real estate landscape, touching all markets, investors and property types, according to Dan Fasulo, managing director & head of research for Real Capital Analytics. “The more that net operating income decreases for properties, the more pressure…

Grubb & Ellis Realty Investors L.L.C. has purchased Oak Park Office Center III, a 151,000-square-foot office building in Houston’s Westchase submarket, in a $34 million deal with Realty Associates Oak Park III L.P.The property with an approximately 151,000 square feet, is located within Oak Park at Westchase, a 225-acre master-planned office park.  Situated on more than 11 acres, the building is adjacent Sam Houston Parkway.  The building features a two-story atrium complete with marble walls, wood accents, and both cove and pendant lighting.  Additionally, it has open floor plans, card key access, two electric vehicle fueling stations and security cameras…

Group 24 L.L.C. has become a 50 percent partner with Turnberry Ltd. in the latter’s Turnberry Tower, a $300 million, 40-story luxury residential condo (pictured) in San Francisco’s Rincon Hill district. The project is Turnberry’s first venture in California, and this is also the first collaboration between the two companies. Turnberry chairman & CEO Jeffrey Soffer said in a prepared statement that he and Group 24 founder & chairman Mike Zoi had for some time been looking for a project on which to partner. “We find San Francisco’s high barrier to market entry, coupled with Turnberry’s internationally recognized brand and…

Flagler Real Estate has broken ground on the new 400,000-square-foot retail expansion at The Palms at Town & Country (pictured) in Miami. When completed, the 75-acre site located at 8268 Mills Drive and owned by TIAA-CREF, will house 700,000 square feet of mixed retail components in an open-air design and a 133,000-square-foot Professional Arts Center.Kohl’s was the first tenant to recently open in the Phase II of The Palms at Town & Country, occupying 88,800 square feet of the 397,800-square-foot retail center.  Phase I of The Palms at Town & Country, currently home to retailers such as New York &…