REBusinessOnline

Foodservice Distributor UNFI to Acquire Grocery Retailer Supervalu for $2.9B

PROVIDENCE, R.I. AND MINNEAPOLIS — Natural and organic products distributor United Natural Foods Inc. (NASDAQ: UNFI) has agreed to acquire grocery retailer Supervalu Inc. (NYSE: SVU) for $2.9 billion. UNFI, which distributes to Whole Foods Market and other grocery chains, will pay $32.50 per share in cash for Supervalu, according to a joint statement. The deal includes the assumption of outstanding debt and liabilities. Steve Spinner, UNFI’s current CEO, will lead the combined …

Acquisitions, Industrial, Midwest, Minnesota, Top Stories

German Elevator Maker to Build 420-Foot-Tall Headquarters Near Massive Shopping, Sports Complex in Atlanta

ATLANTA — Thyssenkrupp Elevator, one of the world’s largest elevator companies, has unveiled plans to build a new headquarters complex near The Battery Atlanta in Cobb County. The German company will develop the facility in collaboration with the Braves Development Co. (BDC). BDC is the owner and operator of The Battery, the 1.5 million-square-foot mixed-use development surrounding SunTrust Park, home ballpark of the Atlanta Braves. The Thyssenkrupp headquarters, dubbed The Innovation …

Development, Georgia, Office, Southeast, Top Stories

Equus Sells Office, Retail Complex in Downtown San Jose for $284M

SAN JOSE, CALIF. — Equus Capital Partners Ltd. has sold Cityview Plaza, a nine-building, 579,541-square-foot office and retail complex in downtown San Jose. Jay Paul Co., a privately held real estate development firm based in San Francisco, acquired the asset. The 11-acre property sold for $284 million, according to local media reports. Spanning an entire city block, Cityview Plaza is situated across from the Adobe Worldwide Headquarters, and near the planned 8 million-square-foot Google …

Acquisitions, California, Office, Retail, Top Stories, Western

JLL Arranges $235M Construction Loan for 34-Story Office Tower in Brooklyn

NEW YORK CITY — JLL Capital Markets has arranged a $235 million loan for the construction of One Willoughby Square, a 34-story, Class A office tower in downtown Brooklyn. One Willoughby Square will rise 560 feet above the future Willoughby Park, a one-acre public green space on top of a 700-space underground parking garage in Brooklyn's Tech Triangle. The building will feature column-free floor plates as well as 10-foot windows. The tower is the first ground-up office development in …

Development, Loans, New York, Northeast, Office, Top Stories

Highwoods to Build Asurion’s $285M Headquarters Campus in Nashville, Creating 400 New IT Jobs

NASHVILLE, TENN. — Highwoods Properties Inc. (NYSE: HIW) plans to build a new $285 million headquarters campus in Nashville’s central business district (CBD) for Asurion, a privately held tech solutions firm. The Nashville-based company specializes in providing insurance and warranty plans covering mobile devices and other consumer electronics. Asurion will consolidate four of its existing local offices into the new campus, as well as create 400 new information technology jobs, according …

Development, Leasing Activity, Office, Retail, Southeast, Tennessee, Top Stories

Boston Properties, CPPIB Acquire 47-Acre Business Park in Santa Monica for $627.5M

SANTA MONICA, CALIF. — A joint venture between Boston Properties Inc. (NYSE: BXP) and Canada Pension Plan Investment Board (CPPIB) has acquired the 47-acre Santa Monica Business Park for approximately $627.5 million. The seller was not disclosed. Santa Monica Business Park consists of 21 buildings totaling roughly 1.2 million square feet of office and retail space in Santa Monica, a coastal city just west of downtown Los Angeles. The property is located near Interstates 10 and 405 and …

Acquisitions, California, Office, Top Stories, Western

NP International to Construct 1.3 MSF Mixed-Use Development Near Miami

CORAL GABLES, FLA. — NP International (NPI) has selected Balfour Beatty to construct the 1.3 million-square-foot Gables Station mixed-use development in Coral Gables, a suburb of Miami. Comprised of three towers, the development will feature retail space, residential units, a hotel and a 1,000-car parking garage. The transit-oriented development is situated within a commercial corridor on U.S. Highway 1 and is adjacent to the Miami Metrorail, providing easy access to the Miami …

Development, Florida, Mixed-Use, Southeast, Top Stories

Big Rock, Kiawah Partners to Develop $125M Seniors Housing Community Near Charleston, South Carolina

KIAWAH ISLAND, S.C. — Big Rock Partners, in a joint venture with Kiawah Partners, has unveiled plans to develop a $125 million seniors housing community on Kiawah Island, a barrier island located 21 miles southwest of Charleston. The 200-unit community will be for residents ages 55 and older and will include independent living, assisted living and memory care units. The unnamed project will be built overlooking a lake next to the Freshfields Village shopping center. “There’s been …

Development, Multifamily, Seniors Housing, South Carolina, Southeast, Top Stories

Boylston Properties, The Wilder Cos. Secure $324M Construction Financing for Mixed-Use Redevelopment Near Boston

BOSTON — Developers Boylston Properties and The Wilder Cos. have secured $324 million in construction financing and joint venture equity for the development of Arsenal Yards, a six-building, mixed-use redevelopment of the former Arsenal Mall in Watertown. HFF worked on behalf of the developers to source institutional investors advised by JP Morgan Asset Management as joint venture equity partners, providing $102 million of equity. HFF also arranged a $222 million construction loan from …

Development, Massachusetts, Mixed-Use, Northeast, Top Stories

Atalaya Capital Closes $315M Construction Financing for New Ritz-Carlton Hotel in Manhattan

NEW YORK — Atalaya Capital Management, a private credit and alternative investment advisory firm, has recently closed $315 million in construction financing for The Ritz-Carlton’s new flagship hotel in Manhattan. Situated at the corner of 28th Street and Broadway, the 266-room hotel will span more than 50 stories and include 16 branded residences, 6,000 square feet of meeting space and high-end food and beverage options. This project will be the first ground-up hotel construction in …

Hospitality, Loans, New York, Northeast, Top Stories

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