National
SL Green Sells Stake in SoCal Office Portfolio as Los Angeles Office Market Shifts Away from Downtown
The ownership structure of a major office portfolio recently suffered some changes after New York City-based SL Green Realty Corp. announced that it had sold its stake in a Southern California portfolio to an affiliate of its joint venture partner. SL received $100 million from an entity linked to Blackstone Real Estate Partners VII for its 43.74 percent interest. The properties that comprise the portfolio are located across Southern California in major markets including Los Angeles, Orange County and San Diego.
Office Tower In Baltimore’s CBD Is Now For Sale
A Baltimore skyscraper located right in the heart of the city’s Central Business District is looking for new owners. The 22-story building at 2 Hopkins Plaza is up for sale. Transwestern is marketing the Class B office tower together with the 3-story pavilion building at 10 Hopkins Plaza.
Penn’s South Bank Master Plan To Include 200,000 Sq. Ft. Innovation Center
The University of Pennsylvania (Penn) revealed plans for a research park anchored by a new innovation center that will be built on the former DuPont Marchall Research Laboratories site, a large industrial property along the Schuylkill River that will house the planned South bank campus.
$11.4 Million Renovation Plan Promises New Life to U-M’s Former Nuclear Building
Ten years after beginning to decommission the Ford Nuclear Reactor, the University of Michigan (U-M) is preparing for a multi-million dollar renovation and expansion of the four-story building that is now entirely free of radiation.
Boston Firm Acquires Landmark Union Trust Building in Downtown Pittsburgh
The Davis Companies, a real estate investment and development firm based in Boston, has acquired the historic Union Trust Building in downtown Pittsburgh. According to the Pittsburgh Post-Gazette, the company purchased the property for $14 million at a recent sheriff sale.
Luxury Assisted Living Project Proposed for Franklin
Atlanta-based Medical Development Corp., a family-owned development and management company specialized in senior housing and hospitality, is eyeing Franklin for a luxury hotel-style assisted living center
Liberty Signs Power-One for 105 KSF, Brings Sky Harbor Center to Full Occupancy
Power-One Renewable Energy Solutions has signed a long term lease with Liberty Property Trust to occupy 105,000 square feet of space at Liberty Sky Harbor Center in Phoenix. The agreement brings the complex, which opened last year after a complete makeover and re-branding, to 100 percent occupancy.
Richmond’s Short Pump Submarket Gears Up for Robust 2014
By Adrian Maties, Associate Editor Cushman & Wakefield | Thalhimer projects that 2014 will be a good year for the Richmond retail market. As retailers and restaurants plan to grow and expand, a trend that started in 2013 and is expected to continue in 2014, the market will see stepped-up activity. It ended 2013 with […]
JH Real Estate Partners Buys San Carlos Shopping Center for $35 Million
A San Diego County retail property recently traded hands in a transaction worth a total of $35 million. The acquisition was perfected between buyer JH Real Estate Partners and an unnamed entity from the East Coast, who had owned the property since the last transaction, in 2006. The San Carlos Shopping Center was the property in question, in the Lake Murray area of San Diego.
Siegel Group Buys 119-Unit M-F Property Near Strip, Expanding Flexible-Stay Portfolio
The Siegel Group Nevada, Inc. recently expanded its local apartment portfolio with a purchase near the Las Vegas Strip. The commercial real estate and business development company has completed a deal worth approximately $4.2 million for the apartment property known as Solana Square. The Siegel Group plans to add the newly acquired asset to its Siegel Suites Brand, which currently offers a number of flexible stay residential communities throughout the state of Nevada. With the addition of Solana Square, Siegel Group now operates 23 such communities in the Silver State.