Caterpillar to Relocate Global Headquarters from Deerfield, Illinois, to Irving, Texas

IRVING, TEXAS — Caterpillar Inc. (NYSE: CAT) will relocate its global headquarters from Deerfield, Ill., to Irving. Beginning later this year, the construction and mining equipment manufacturer will begin moving its employees from the metro Chicago area to its existing office within the Dallas-Forth metroplex. According to Fox Business, Caterpillar employs about 107,000 people globally, and about 230 people from the existing headquarters office will transition to Texas. The move comes roughly …

Prologis Agrees to Acquire Duke Realty in $26B All-Stock Transaction

SAN FRANCISCO AND INDIANAPOLIS — San Francisco-based industrial giant Prologis Inc. (NYSE: PLD) has agreed to acquire Indianapolis-based Duke Realty (NYSE: DRE) for $26 billion in an all-stock transaction, including debt.The mega-merger of these two REITs is scheduled to close in the fourth quarter. The board of directors for each company has already unanimously approved the transaction.In May, Prologis offered to acquire Duke in an all-cash transaction for $61.68 per share, a …

Lee & Associates Expands Downtown Los Angeles Presence With New Office

LOS ANGELES — Lee & Associates has grown its Southern California presence with the opening of a new office in downtown Los Angeles. The office will specialize in industrial, office and investment brokerage, with plans to strategically recruit teams that will grow its capabilities in multifamily and retail.Led by Jack R. Cline Jr., Lee & Associates Los Angeles – Downtown consists of 13 brokerage professionals, including Doug Cline, Tony Naples, Evans Jurgensen, Matt Eddy, Miles …

Kohl’s Begins Negotiations with Franchise Group Regarding Potential Sale

MENOMONEE FALLS, WIS. — The board of directors of Kohl’s Corp. (NYSE: KSS) has entered into exclusive negotiations with Franchise Group Inc. (FRG) for a period of three weeks in relation to FRG’s proposal to acquire Kohl’s for $60 per share. The purpose of the exclusive period is to enable FRG and its financing partners to finalize due diligence and financing arrangements and for the parties to complete the negotiation of binding documentation. The transaction remains subject to …

Colliers Relocates Office in Parsippany, New Jersey

PARSIPPANY, N.J. — Colliers has relocated its office in the Northern New Jersey community of Parsippany. The space spans 7,500 square feet and is located within Northpoint, a 225,000-square-foot development that is owned by Vision Real Estate Partners. The building underwent a multimillion-dollar renovation program in 2020. Colliers employs some 50 brokers and 25 dozen support team members across its four New Jersey

Kohl’s Bets on Brick-and-Mortar with Plans to Open 100 Smaller-Format Stores, Revitalize Existing Locations

MENOMONEE FALLS, WIS. — Kohl’s (NYSE: KSS) has announced plans to increase its investment in brick-and-mortar with the addition of 100 new, smaller-format locations over the next four years in previously untapped markets. This expansion follows the pilot of 20 stores featuring the company's smaller-format design, which averages around 35,000 square feet versus the traditional 80,000-square-foot iteration. In June, the Menomonee Falls-based company will be opening a smaller-format shop …

Cushman & Wakefield Acquires Cresa Partners of Los Angeles

LOS ANGELES — Cushman & Wakefield has acquired Cresa Partners of Los Angeles Inc., whose operations comprise three Los Angeles County offices located in West Los Angeles, Woodland Hills and Westlake Village.Representing tenants, the Cresa team provides commercial real estate services to clients in diverse industries, including entertainment, technology, interactive entertainment, professional services, biotech and transportation. The team comprises 40 professionals, made up of tenant …

Prologis Offers to Acquire Duke Realty in $23.7B Deal, Duke Realty Rejects Offer

INDIANAPOLIS — In a letter sent May 10 to Indianapolis-based Duke Realty Corp. (NYSE: DRE), San Francisco-based Prologis Inc. (NYSE: PLD) offered to acquire the firm in an all-stock transaction valued at $61.68 per share, which equates to about $23.7 billion. Under the terms of the proposal, Duke Realty stockholders would receive 0.466 shares of Prologis common stock for each share of Duke Realty common stock they own. The $61.68 figure is based on Prologis' closing price on May 9, and …

Boeing Moves Global Headquarters to Arlington, Plans to Build Research Campus

ARLINGTON, VA. — Boeing (NYSE: BA) has chosen Arlington as the site for its new global headquarters due to the city’s proximity to Washington, D.C., and strong client and talent base in the region. The aerospace and defense giant is moving its headquarters from Chicago, where the firm plans to maintain a significant office presence. In addition to the corporate relocation, Boeing plans to develop a research and tech hub in Arlington to support and train Boeing employees in the areas of …

Brookfield Agrees to Acquire Watermark Lodging Trust for $3.8B

NEW YORK CITY AND CHICAGO — Private real estate funds managed by Brookfield Asset Management (NYSE: BAM) have agreed to acquire Chicago-based hospitality REIT Watermark Lodging Trust for $3.8 billion.Watermark’s portfolio was constructed over the past decade and currently consists of 25 luxury hotels and resorts totaling 8,100 rooms across 14 states. The properties are primarily located in Sun Belt markets.Under the terms of the deal, Brookfield will acquire all outstanding shares …

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