Retail
$34M of Financing in Place for NYC Office and Retail Portfolio
With the assistance of Meridian Capital Group L.L.C., Pi Capital Partners has obtained a loan for the refinancing of an office and retail portfolio in Manhattan and Queens.
CoStar Q2 Report: Slow Improvement in Office; Retail Slides
Fundamentals in most commercial real estate sectors improved or held steady during the second quarter, as per CoStar Group’s upcoming national report. But there’s always a surprise and the last three months were no exception.
Starwood Capital Closes $1B Purchase of Seven Westfield Malls
Starwood Capital Group is now 6.6 million square feet larger. The global private investment firm recently wrapped up its acquisition of a 90 percent stake in seven shopping centers from Sydney, Australia’s Westfield Group in a transaction valued at just over $1 billion. DDR’s Scott Wolstein will spearhead the new division.
Update: Nordstrom to Hit Manhattan–Finally
It’s been a long time coming. Nordstrom Inc. has had its eye on opening a store in Manhattan for yearsand years, and now the long-held plan is finally coming to fruition. The fashion specialty retailer joined New York City Mayor Michael Bloomberg and real estate owner Extell Development Co. this afternoon to announce Nordstrom’s 285,000-square-foot news.
Nordstrom to Hit Manhattan–Finally
It’s been a long time coming, but Nordstrom Inc. is finally entering Manhattan.
Regency Begins 280 KSF Shopping Center Outside Seattle
Regency Centers will break ground tomorrow on Grand Ridge Plaza in the master-planned development of Issaquah Highlands in Washington state.
Developers Detail L.A.’s $250M Playa Vista Town Center
Developers of Runway, a mixed-use project in Playa Vista, Calif., continue to prepare for takeoff with the debut of architectural firm Johnson Fain’s design for the $250 million endeavor.
American Realty Capital Closes Purchase of 21 Net-Leased Properties
American Realty Capital Properties Inc. has added 21 single-tenant properties to its rapidly growing portfolio of net-leased assets. The $26.2 million price landed an aggregate 300,000 square feet of office and retail space across 10 states.
Blackstone, DDR Wrap Up $1.4B Retail Purchase
The Blackstone Group and DDR Corp. have closed a $1.4 billion joint-venture retail purchase six months after announcing the plan to acquire the 46-property shopping center portfolio from EPN Group.
Michigan, Canada Officials Announce New Detroit-Windsor Bridge
By Veronica Grecu, Associate Editor On June 15 Michigan Gov. Rick Snyder and Canadian Prime Minister Stephen Harper announced plans for a new bridge linking Detroit and Windsor, Ontario. First proposed nearly ten years ago, work on the new six-lane bridge could start in 2013 or 2014 and it would take at least four years […]