Retail
Stockholm’s Kista Galleria Shopping Center Sells for $700M
Citycon Oyj, a subsidiary of Gazit-Globe Group, and the Canada Pension Plan Investment Board (CPPIB) have entered into definitive agreements to acquire the Kista Galleria shopping center in Stockholm from DNB Livsforsikring ASA.
Skanska Closes Land Purchase for 455 KSF Boston Office Project
Boston remains high on Skanska USA Commercial Development’s radar and the company has just made another move toward increasing its presence in the city.
Hong Kong, NYC Close Q3 as Priciest Retail Markets
Hong Kong and New York City kicked off 2012 at the top of the list of the world’s most expensive retail markets. Barring any major developments, it appears the globally-coveted shopping metropolises are going to end the year without a threat to their respective first- and second-place positions, judging by CBRE Group Inc.’s third-quarter MarketView research report.
Friedland Properties Buys NYC’s 706 Madison Ave. for $142M
JLL represented BNY Mellon in the sale of 706 Madison Ave., a 19,100-square-foot, premier retail building that was sold to Friedland Properties for $142 million.
How Does Obama’s Second-Term Win Affect CRE?
With an acrimonious and seemingly endless presidential campaign finally completed, CRE experts are watching to see how newly re-elected President Barack Obama and Congress deal with a host of financial issues impacting the real estate market, including the budget deficit, debt and spending, tax rates, capital gains taxes and job creation.
PPG to Buy Leading Architectural Coatings Business for $1B
PPG Industries will double its architectural wood coatings presence in North America with the $1 billion acquisition of AkzoNobel’s North American architectural coatings business, in a deal expected to close in early second quarter 2013, subject to regulatory approvals.
Hines Opens Landmark Project in Milan
International real estate firm Hines has announced the opening of a new 161,400-square-foot public space at its 71-acre master-planned Porta Nuova project in Milan, Italy.
KDC Moves Ahead on $1.5B M-U Project in Metro Dallas
Rezoning has been approved for Dallas-based KDC’s $1.5 billion, master-planned, mixed-use project in Richardson, Texas, clearing the way for the company to acquire the needed 186 acres of land and move forward with the development.
Vintage Purchases 407 KSF Oregon Mall
Vintage Real Estate has acquired Heritage Mall in Albany, Ore., from a consortium of lenders, which removed $38 million in debt from the property.
Vornado Closes $707M Manhattan Retail Condo Purchase
The Manhattan retail market is on fire and Vornado just grabbed a coveted 114,000-square-foot piece of it.