Retail
Retail Outlook: Tighter Markets, Robust Pipeline
California will lead the way for lowest retail vacancy this year, according to projections by Marcus & Millichap Real Estate Investment Services Inc.
Millennium Signs 125 KSF Lease, Jumpstarting $630M Boston Project
Millennium Partners has just landed a commitment that paves the way for the commencement of the Millennium Tower/Burnham Building project, the company’s $630 million redevelopment of the former Filene’s Department Store site in downtown Boston.
NY Developer Plans Boutique Gay-Friendly Hotel in Boystown
New York-based Parkview Developers LLC plans to open a gay-friendly hotel in the heart of Boystown. The approximately 112-room hotel would be located on the 3300 block of North Halsted Street and would be called Out Chicago, according to Ian Reisner, managing partner of the development firm.
AG-Metropolitan JV Sells BJ’s, LA Fitness Condo Units on Long Island for $66M
Entities controlled by The Hampshire Companies have purchased a BJ’s Wholesale Club and LA Fitness condominium units at Garden City Square in New York for nearly $66.3 million from AG-Metropolitan 711 Stewart Avenue, a joint venture of Metropolitan Realty Associates and Angelo, Gordon & Co.
Equus Sells 330-Unit Downtown Chicago Student Housing
Equus Capital Partners, a private equity real estate fund manager, has sold a 330-unit student housing facility in Chicago for $58.5 million to a JV of Atlas Real Estate Partners, Marc Real Residential and Angelo, Gordon and Co.
Interserve, Tiger Developments JV to Build $300M M-U Project in Edinburgh
Britain’s Interserve Plc has signed a joint venture deal with Scottish landowner Tiger Developments to construct and invest in the Haymarket area of Edinburgh.
Jamestown Acquires Retail/Office Portfolio in Downtown San Luis Obispo, Calif.
Jamestown has acquired more than 200,000 square feet of retail and office space in downtown San Luis Obispo, Calif., from Copeland Properties.
Fidelis Realty Buys Grocery-Anchored Center in Houston
A busy city has to eat, right? In yet another sign that Houston is surging upward again, Fidelis Realty Partners has purchased Willowchase Shopping Center, a 273,200-square-foot property anchored by a 92,800-square-foot Fiesta Market supermarket.
Phillips Edison–ARC Acquires Three-Property Portfolio
Phillips Edison-ARC Shopping Center REIT Inc. continues what appears to be a bit of a buying binge with the acquisition of a three-state, three-property portfolio of shopping centers totaling 276,000 square feet.
Vestar, UBS Global Pay $87M for LA Retail Center
Vestar, in a JV with a UBS Global Asset Management fund, has acquired Peninsula Center, a 300,000-square-foot retail center in Los Angeles County, from Principal Real Estate Investors for $87 million in an all-cash transaction.