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Net lease news – page 37
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Representative imageCohen Brothers Closes Nearly 96K SF in Leases at West Hollywood’s Pacific Design CenterCohen Brothers Realty Corporation of California has signed seven leases totaling nearly 96,000 square feet at the Pacific Design Center’s Red Building in West Hollywood, Calif., Commercial Observer can first report.
Representative imageShort-Term Rental Giant Airbnb Launches $250M Housing Construction FundAirbnb is joining the fight to alleviate America’s ongoing housing supply shortage. The online rental housing marketplace announced Monday that it plans to invest $250 million to fill financing gaps in the development of affordable and mixed-income multifamily projects.
Representative imageKKR Pays $608M for 51% Stake in Realty Income European Net-Lease PortfolioPrivate equity giant KKR is taking a substantial stake in a European net-lease portfolio run by a prominent U.S. real estate investment trust (REIT).
Representative imageLaw Firm Proskauer Rose Expands to 478K SF at SJP’s 11 Times SquareGlobal law firm Proskauer Rose has added roughly 60,000 square feet to its more than 14-story footprint at 11 Times Square.
Battersea Power Station Reveals Plans To Double Development AgainBattersea Power Station aims to double its development with new residential, commercial and leisure space.
PGIM Refis Manhattan Office-to-Storage Conversion With $57M LoanA joint venture between Mequity Companies and Flatiron Equities Real Estate has sealed a $57 million loan to refinance an office-to-storage conversion project in Midtown Manhattan, Commercial Observer has learned.
Katy Target to Open Next MonthDeveloper NewQuest announced that a 148,000-square-foot Target store at Texas Heritage Marketplace will open on October 11. It will be one of many popular outlets in the planned 800,000-square-foot retail center. Newquest says it’s investing over $400 million into the center.
PNC Bank Provides $92M Construction Loan for Luxury D.C. MultifamilyCarr Properties has secured $92 million of construction debt to build a 299-unit Class A multifamily complex in Downtown Washington, D.C., Commercial Observer can first report.
Malls Rebound to Become Top-Performing U.S. CRE SectorWidely considered an endangered property type following the COVID-19 pandemic, malls are now the top-performing sector in the U.S., the Wall Street Journal reported.
Investor Acquires Distressed Atlanta Apartment AssetLiquid Capital Real Estate Investment basically transferred ownership of a Midtown Atlanta apartment complex to Audubon Capital. Audubon picked up the remaining unpaid balance on the loan. The Crest at Midtown property was sold outright rather than a foreclosure.
Fifth Third Bank Expands to 32K SF at 50 Rockefeller PlazaFifth Third Bank is expanding its office footprint at Rockefeller Center.
Representative imagePark Aerospace to Open $65M Manufacturing Facility in Tulsa, Create 100 JobsTULSA, OKLA. — Park Aerospace Corp. (NYSE: PKE) will open a $65 million manufacturing facility in Tulsa, a project that is expected to add about 100 new jobs to the local economy. The square footage was not disclosed.
Endeavor Breaks Ground on 198,000 SF Office, Retail Project Near Downtown AustinAUSTIN, TEXAS — Endeavor Real Estate Group has broken ground on 5th & Walsh, a 198,000-square-foot office and retail project near downtown Austin.
Rich Properties Snags $38.5M Refi for West Palm Beach Rental AssetRich Properties obtained a $38.55 million refinancing for Tennis Towers Apartments, a 306-unit multifamily community in West Palm Beach that has been owned and operated by Rich Properties for more than 35 years.
CBRE Negotiates Sale of Two Industrial Buildings Leased to Tesla in Fort Worth AreaFORT WORTH AND FLOWER MOUND, TEXAS — CBRE has negotiated the sale of two newly constructed industrial buildings in the Fort Worth area that are both leased to Tesla.
Representative imageMarcus & Millichap Brokers Sale of 13,079 SF Retail Strip Center in Little Elm, TexasLITTLE ELM, TEXAS — Marcus & Millichap has brokered the sale ofIndia Bazaar Plaza, a 13,079-square-foot retail strip center in Little Elm, located in the northern-central part of the metroplex.
Representative imageBridgeInvest Provides $87.9M Acquisition Loan for Industrial Facility in San FranciscoSAN FRANCISCO — BridgeInvest, an investment manager specializing in senior-secured real estate credit, originated an $87.9 million first priority acquisition loan and lease-up of 300 Kansas Street, a six-story Class A research and development property in San Francisco’s Mission…
JV Offloads 254K-SF Hollywood MOBFox Ridge Capital, Jax Capital Investments and TKF Real Estate Investment sold the Venture Center, a professional and medical office complex located at 3440 Hollywood Boulevard and 200-300 S Park Road in Hollywood, Florida. The final sale price was $69 million.
Taylor Morrison Sells 424-Unit West End District Multifamily Property in Beaverton, OregonBEAVERTON, ORE. — Taylor Morrison has completed the sale of West End District, an apartment community in Beaverton, to Grand Peaks for $85.2 million. Joe Nydahl and Josh McDonald of CBRE represented the seller in the deal. Situated on 13.5 acres at 14700 S.W.
Sagard Real Estate Acquires 133,750 SF Industrial Property Near SeattleTUKWILA, WASH. — Sagard Real Estate has purchased 1100 Andover Park West, an industrial asset in Tukwila, approximately 12 miles south of Seattle.