Retail
AREA Property Partners, Commonwealth Ventures Plan $225M Office Project in Boston
An 11-story Class A office building along the South Boston waterfront is moving closer to construction now that the Boston Redevelopment Authority has approved the approximately 500,000-square-foot, $225 million project planned by AREA Property Partners and Commonwealth Ventures.
Nine-Property Net-Leased Walgreens Portfolio Sells for $69M
Investors can’t seem to get enough of the net-lease market: An unidentified institutional investment firm beat eight others in a bidding war, acquiring a 117,600-square-foot portfolio of nine Walgreens stores on the East Coast for $68.7 million.
Penzance, Invesco Get $94M Construction Financing for 280 KSF D.C. Development
Ground has broken on the trophy office project at 3001-3003 Washington Blvd. in suburban Washington, D.C., and Penzance and Invesco Real Estate have just gotten their hands on $94 million in construction financing for the 280,000-square-foot destination.
Marcus & Millichap: Net-Leased Retailers Expand Reach, See Investor Interest
Certain property types are well-positioned to take advantage of the fact that Americans’ personal incomes continue to stagnate, and net-leased properties – including discount retailers, drugstores, quick-service restaurants and even big-box chains – are seeing renewed investor interest in response.
$65M Mixed-Use Dover Landing Project in New Hampshire Moves Forward
Dickinson Development Corp.’s Dover Landing, an upscale mixed-use project that will sit along the Cocheco River in Dover, N.H., has been given the thumbs-up on the revised plans for the $65 million endeavor.
PREA: 2012 CRE Returns Will Rise to Nearly 10 Percent
Commercial real estate firms expect the future of the U.S. commercial real estate market to continue to shine, as indicated by the results of the Pension Real Estate Association’s latest Consensus Forecast Survey: Survey participants in May anticipate full-year 2012 returns of 9.6 percent.
Invesco Spends $141M on NYC’s 130 Prince St.
Waterman Interests has turned a nearly $30 million profit on its asset at 130 Prince St. in New York City, selling the building for $140.5 million to Invesco after purchasing the property in 2007 for $112 million.
O&S Holdings Sells 603 KSF Mixed-Use Bridge Street Town Centre in Alabama
Five years after developing Bridge Street Town Centre as part of the mixed-use Bridge Street development in Huntsville, Ala., O&S Holdings has sold the 600,000-square-foot lifestyle center to Miller Capital Advisory.
Boyd Keeps Echelon Place Alive After 2 Years of Limbo
By Alex Girda, Associate Editor Since financing shortfalls forced Boyd Gaming to halt construction of the $4.8 billion Echelon Place project two years ago, the mixed-use project has stood as a cautionary tale of overreach. Recently, the developers recently took steps to keep the incomplete project alive, petitioning Clark County to extend several key deadlines. […]
Eastpoint Mall Auctioned for $30M
By Adrian Maties, Associate Editor The Eastpoint Mall in Dundalk, MD sold May 29 at auction for $30.3 million, barely one-quarter of the asking price it commanded in 2006. LNR Property LLC, a Miami Beach, Fla.-based real estate investment firm, submitted the winning bid. Tidewater Auctions LLC of Towson handled the sale at the Circuit […]