property type: Office
Atlanta REIT to Shed Office Portfolio, Target Multifamily and Grocery-Anchored Retail Properties
Preferred Apartment Communities Inc. is exiting the office sector and shifting its focus to multifamily properties and grocery-anchored shopping centers in the Sunbelt region. The Atlanta REIT already is under contract to sell a 1.95 million-square-foot office portfolio to Highwoods ...
Hillwood Urban to Build 38-Story Office Building in Downtown Dallas
Dallas Business Journal Hillwood Urban has filed plans to build the Field Street Tower, a 520,000-square-foot office building in downtown Dallas. The 38-story property is being planned for the southeast corner of Field Street and Woodall Rodgers Freeway. It will ...
Office Condominium Space in Brooklyn, N.Y., to Sell for $130Mln
Commercial Observer A venture of 60 Guilders and Davidson Kempner has agreed to pay $130 million, or $698.59/sf, for 186,088 square feet of office condominium space at 12 MetroTech Center in Brooklyn, N.Y. Brookfield Property Partners is selling the space, ...
500,000-SF Spec Office Building to Rise in Atlanta
Atlanta Business Chronicle Portman Holding is starting work early next year on a 500,000-square-foot office building in Atlanta. The 30-story project is being built on four acres at 1020 Spring St. The development site has been zoned for more than ...
Macy’s Proposes 1.5Mln-SF Office Space Above Manhattan Flagship Store
Crain's New York Business Macy's Inc. has proposed adding 1.5 million square feet of office space atop its flagship store at 151 West 34th St. in Manhattan. The retailer wants to invest $235 million in the area surrounding its store, ...
BPM Real Estate Lines Up $68Mln for Phoenix Office Buy
BPM Real Estate Group has lined up $68 million of financing for its purchase of PetSmart Inc.'s corporate headquarters in Phoenix. Mortgage lender 3650 REIT provided the seven-year loan, which was arranged by Newmark. As reported, the Portland, Ore., company bought ...
Savanna Lines Up $264Mln of Financing for Brooklyn, N.Y., Office Project
Savanna has secured $264 million of construction financing for 141 Willoughby St., a 400,000-square-foot office project in downtown Brooklyn, N.Y. PIMCO, a Newport Beach, Calif., investment management firm, provided senior debt, while funds managed by CarVal Investors of Minneapolis provided ...
Office Building Near Raleigh-Durham Airport Sells for $36Mln
Triangle Business Journal Northridge Capital has paid $36.8 million, or about $262.86/sf, for Innovation I, a four-story office building with about 140,000 square feet, near the Raleigh-Durham International Airport. The Washington, D.C., company bought the property from Scannell Properties of ...
Pointe at Redwood Shores
The property is 94 percent leased to tenants that are subject to leases with a weighted average remaining lease term of 4.8 years. GI Partners plans to convert the remainder of the property into life-sciences space as office leases roll.
