Retail
JV Picks Up 1 MSF Chicago Office Tower in $350M Sale-Leaseback
In what’s being touted by industry leaders as Chicago’s largest office sale in 2012, the 1 million-square-foot office building at 540 W. Madison St. came under new ownership in a $350 million sale-leaseback transaction.
24-Property CRE Portfolio Reels in $607M in Financing
Acting on behalf of a pension fund advised by Invesco, RREEF Real Estate and TA Associates Realty, HFF has orchestrated financing totaling $607 million for a real estate portfolio encompassing 5 million square feet of commercial space and 3,499 multi-family units.
Clarion Completes Sale of Waterside Shops in Florida for $155M
Clarion Partners has completed the disposition of a 50 percent interest in Waterside Shops, a luxury retail destination in Naples, Fla., on behalf of the Oregon Public Employees Retirement Fund for approximately $155 million, less assumed debt.
Dermot Sells 14-Building Portfolio in NY for $191M
Dermot Property Associates has sold a 14-building portfolio in New York City consisting of 861 apartments and 41 retail units for $191 million.
Caruso Targets a Host of Properties in Central Pacific Palisades for Renovation and Rebranding
The central properties seem to have cost Caruso a total amount in the $40-$50 million range. However, the financial terms of the transaction were not disclosed to the media and an accurate number is currently not available. Most of the properties are currently tenant-free and are 50-60 years old, making them perfect for a complete overhaul. The Times points out that even the tenants in place have clauses in their short-term contracts that stipulate that the owner has the right to modify the property and redevelop the site. Continue reading →
Retail Opportunity Investments Acquires $114M Grocery Anchored Portfolio
Retail Opportunity Investments Corp. has closed on three shopping centers and has a binding contract to acquire a fourth in a $114 million acquisition encompassing approximately 444,000 square feet of gross leasable space in Southern Calif.
Suburban Philly, Oklahoma City Retail Assets Totaling 777 KSF Reel in $103M
Not all commercial real estate investors are in a San Francisco, Washington, D.C., or New York state of mind. Premier assets in non-premier locations like Deptford Landing in Deptford, N.J., and The Shops at Moore in Oklahoma City, Okla., have moved up higher on buyers’ radar.
Local Investors Purchase 190 KSF Building in Dallas’ Historic West End
A group of local investors headed by Slingshot Advertising CEO Owen Hannay has acquired 501 Elm Place, an approximately 190,000-square-foot landmark building in the heart of Dallas’ West End District, from a German investor group represented by International Capital.
South African Developer Secures Financing for Retail, Residential projects in Pretoria
Nedbank Corporate Property Finance, a Durban-based financial organization, has reportedly provided a Pretoria developer with crucial financing that will be used in the development of two properties.
Kaufman Coughs Up $56M for 120 KSF Office Building in Manhattan’s Midtown South
In Manhattan’s thriving Midtown South submarket, the office property at 27–35 West 24th St. has just come under new ownership.