Cushman & Wakefield has arranged the sale of 721 U.S. Highway 202/206, a four-story office building on a nearly 16-acre site with over 200 feet of frontage along Route 202/206 in Bridgewater, NJ. A local developer purchased the 192,741-square-foot asset from Mack-Cali Realty Corporation. The capital markets team of Gary Gabriel, Andrew Merin, David Bernhaut, Brian Whitmer and Frank DiTommaso arranged the sale. …
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El Paso billionaire Paul Foster is buying the 37,000-acre KC7 Ranch near Balmorhea, TX for $32.5 million through a bankruptcy sale. A federal bankruptcy court judge in Fort Worth has approved selling the ranch to Foster, who also acquired the former Kress department store in El Paso at auction this month. The owner, KC7 Ranch Ltd., is …
Professional services firm AlphaSights has renewed and extended its lease by an additional 17,690 square feet for a total of 63,832 square feet at RFR Realty’s 350 Madison Ave. Additionally, Burford Capital LLC, a global finance firm focused on law, signed a new 10-year, 19,516-square-foot lease at the office tower. AlphaSights’ lease expansion was negotiated …
NAI Partners recently arranged a 19,865-square-foot office lease for U.S. Well Services at BHP Billiton Tower (pictured) in Houston. U.S. Well Services provides high-pressure, hydraulic fracturing services in unconventional oil and natural gas basins. Dan Boyles and Liz Westcott-Brown of NAI Partners represented the tenant in the transaction. Morgan Relyea Colt with Cushman & Wakefield …
Avison Young has arranged a seven-year, 5,743-square-foot lease for the entire fourth floor of Thor Equities’ 139 Fifth Ave. in the Flatiron District. The space will serve as an office/showroom for Schlage Lock Company. An Avison Young team of Arthur Mirante (pictured), John D. Ryan III, Patrick Steffens and Dominic Perkovic, along with Thor Equities’ …
Developers interested in project opportunities along the Chicago River will be expected to have greater participation in providing both riverfront amenities and environmental improvements. The Chicago Plan Commission has approved updated guidelines on the city’s requirements for development along the river. “Chicago’s industrial legacy will likely remain a strong feature of development along the Chicago …
Construction activity has leveled off following New York’s historic development boom, according to the city’s Department of Buildings. DOB issued a total of 165,988 construction permits in 2018, down from 168,243 in 2017, the first year-over-year decline since 2009. Although DOB Commissioner Rick Chandler said “the building boom may have finally hit its peak,” DOB …
GFI Realty Services has been tapped to sell 47 Withers St., a fully-renovated walk-up apartment building in Brooklyn’s Williamsburg section. The firm’s Yehoshua Shamel will oversee marketing of the property; pricing is targeted at $5.3 million. The property, which is located near the G and L subway lines, recently underwent an Alt-1 renovation, and now features six …
The Armani Group and SL Green plan to redevelop the Giorgio Armani boutique at 760 Madison Ave. on Manhattan’s Upper East Side. The redesigned 97,000-square-foot building will contain a new flagship Armani retail boutique and 19 Armani-designed residences, one of which will be occupied by the designer. SL Green Realty Corp., which took control of 760 Madison in 2012, …
Already home to Lululemon and Bluemercury, Tucker Development’s 10-building 900 West in the Fulton Market District will add three more tenants to its retail roster. Tucker will bring in Kinton Ramen, Jeni’s Splendid Ice Creams and upscale menswear boutique Independence later this year, Crain’s Chicago Business reported. Independence, owned by Oak Street Bootmakers founder George Vlagos, …
Salesforce will consolidate from several Dallas locations into RED Development’s The Union in Uptown. The lease will bring the mixed-use project’s 420,000-square-foot office component, which opened in October, to more than 90% leased, the Dallas Morning News reported. Lease terms weren’t disclosed. However, the Morning News reported that the space is believed to be more …
A hundred years ago, one of music’s big hits was “How Ya Gonna Keep ‘em Down on the Farm (After They’ve Seen Paree)?” In 2019, urbanites no longer have to make that distinction: they can see Paree—or New York or Tokyo—while still engaging in agriculture. The implications go far beyond the tiny flower beds or …
A $100-million home? That’s pretty quaint, if you’re Citadel’s Ken Griffin. The hedge fund billionaire has reportedly broken the U.S. record for home pricing, closing on a $238-million penthouse at Vornado Realty Trust’s 220 Central Park South residential condominium project in Manhattan. Citadel’s founder went into contract on the 24,000-square-foot penthouse in 2015, the Wall …
S. D. Malkin Properties received $155 million in construction financing for the ground-up development of two oceanfront hotels in Oceanside, CA. The properties will be developed over a 2.75-acre, two-block site located along Mission Avenue and North Pacific Street. One hotel will be operated by Destination Resort, and will have 226 rooms, a signature restaurant, …
Newport Beach, CA-based Bixby Land Company, in joint venture with AXA Investment Managers – Real Assets, acting on behalf of clients, acquired a vacant, 340,000 square foot, Class A, industrial building in San Bernardino, CA for $33 million. Located at 4982 Hallmark Parkway, this newly-built, Class A property is situated in one of the preeminent …
Charleston, SC-based Greystar and University Enterprises, Inc., received final approval for a $164-million Public-Private Partnership student housing project at California State University, Sacramento from the Trustees of the California State University. The new housing project will include roughly 360,000 square feet of space, with 284 apartment-style units for a total of 1,100 beds. The plan includes …
In common with other industries, commercial real estate is adapting to today’s “data everywhere” world, and making investments to create value through data and analytics, says Altus Group. In particular, over the past two years, the CRE universe of owner-operators and investors has experienced “a significant acceleration from awareness to adoption of both emerging technology …
Los Angeles-based Harridge Development Group received an approval from the L.A. City Council on Crossroads Hollywood, a $1-billion, mixed-use development in Hollywood. The proposed 1.4-million-square-foot project would include 950 residential units, 190,000 square feet of commercial space and a 308-room hotel. Envisioned for a trio of towers, one rising 32 stories, the developer plans to …
The second annual 2019 Cathay Bank, UCLA Anderson Forecast U.S.-China Economic Report provides insights on the U.S. and China economies as well as a forecast of what may be on the horizon. The new report focuses on the complementary and competitive trade approaches of the U.S. and China, including economic facts relating to trade tensions …
American Industrial Center (AIC), an 820,000-square-foot industrial park in Longwood, FL, has been sold to a joint venture between Blue Vista Capital Management LLC and Logistics Investment Management. AIC is located in Central Florida, near Orlando. Douglas K. Mandel and Nicholas Hanson represented the buyer. The seller is an unnamed private family. Mandel says, “AIC …