Property Type

Adler Industrial Sells 141,360 SF Warehouse Building Near Boise to Carter Exchange

by Amy Works June 30, 2022

MERIDIAN, IDAHO — Alder Industrial and its institutional partner have completed the disposition of a warehouse/distribution facility situated on 30.3 acres at 2316 W. Franklin Road in Meridian. Completed in early 2022, a Fortune 10 global e-commerce company leases the 141,360-square-foot building. Designed as a last-mile delivery station with top-shelf functionality, the Class A property features 33-foot clear heights, 9.7 percent office space, 15 dock doors and six drive-in doors, 50-foot by 50-foot column spacing with speed bays, 228-foot building depth, 208-foot truck court and an abundance of car, van and trailer parking. Will Strong, Jeff Chiate, Kirk Kuller, Greer Oliver and Connor Nebeker-Hay of Cushman & Wakefield’s National Industrial Advisory Group represented the seller in the transaction.

June 30, 2022

Development Life Sciences Massachusetts Northeast

Bayer Opens $140M Research, Innovation Center in Boston’s Kendall Square

by Taylor Williams June 30, 2022

BOSTON — German pharmaceutical giant Bayer has opened a $140 million research and innovation center within Kendall Square, located on the Boston-Cambridge border. About 100 employees will work at the two-story, 61,200-square-foot facility, which houses a molecular oncology research center with labs and offices. In addition, the center employs a newly established research team focused on leveraging chemical biology techniques to further propel the company’s oncology drug development process.

June 30, 2022

Acquisitions Massachusetts Multifamily Northeast

CBRE Brokers $59.2M Sale of Orchard Apartments in Marlborough, Massachusetts

by Taylor Williams June 30, 2022

MARLBOROUGH, MASS. — CBRE has brokered the $59.2 million sale of The Orchard Apartments, a 156-unit multifamily community located in the western Boston suburb of Marlborough. Built in 2002, the property comprises 17 two- and three-story buildings that house lofts, one- and two-bedroom units with an average size of 1,121 square feet. Amenities include a pool, fitness center and a clubhouse. Simon Butler, Biria St. John and John McLaughlin of CBRE represented the seller, an affiliate of metro Boston-based National Development, in the transaction. The team also procured the buyer, an affiliate of global investment management firm Nuveen Real Estate.

June 30, 2022

Development Northeast Office Pennsylvania

KBS Completes Renovation of 205,424 SF Office Building in Metro Philadelphia

by Taylor Williams June 30, 2022

KING OF PRUSSIA, PA. — California-based development and investment firm KBS has completed the renovation of 1000 Continental, a 205,424-square-foot office building located in the northern Philadelphia suburb of King of Prussia. The building was originally constructed in 2007. Renovations included the addition of a conference center with casual gathering spaces, as well as upgrades to the elevators, lobbies and common corridors. KBS plans to implement further improvements to 1000 Continental as part of a strategic multi-year plan. Avison Young provided construction management services for the project.

June 30, 2022

Acquisitions Northeast Office Pennsylvania

Colliers Negotiates Sale of 98,555 SF Office Building in Wilkes-Barre, Pennsylvania

by Taylor Williams June 30, 2022

WILKES-BARRE, PA. — Colliers has negotiated the sale of 2 Public Square, a 98,555-square-foot office building in the downtown area of Wilkes-Barre, located south of Scranton. At the time of sale, the six-story building was 99 percent leased to tenants such as The Pennsylvania Department of Environmental Protection and Luzerne County Community College. Jeff Algatt of Colliers represented the locally based private seller in the transaction. The buyer and sales price were not disclosed.

June 30, 2022

Leasing Activity New York Northeast Office

XOMOX Jewelry Signs 13,500 SF Office Lease in Midtown Manhattan

by Taylor Williams June 30, 2022

NEW YORK CITY — XOMOX Jewelry has signed a 13,500-square-foot office lease at 240 W. 40th St. in Midtown Manhattan. The fine jewelry manufacturer is expanding from a 6,500-square-foot space at 151 W. 46th St. and will occupy the entire ninth floor of the building for a term of 10 years. Michael Nazarian and Matt Kashani of Norman Bobrow & Co. represented the tenant in the lease negotiations. Daniel Lolai, Joel Kubie and Eric Siegel of LSL Advisors represented the landlord, The Sioni Group.

June 30, 2022

Arizona Florida Georgia Industrial Kentucky Midwest Missouri North Carolina South Carolina Southeast Tennessee Texas Top Stories Virginia Western

MDH Partners Sells 58-Property Sunbelt Logistics Portfolio Located Across 10 States for $1.3B

by Katie Sloan June 30, 2022

ATLANTA — MDH Partners has sold its 58-property Sunbelt Logistics Portfolio to an undisclosed global institutional investor for $1.3 billion. MDH will retain an ownership stake in the portfolio and will continue to operate the properties. The portfolio spans 9.7 million square feet of industrial space across 10 states, including 11 properties in Georgia; 10 properties in Florida; eight properties in Texas; seven properties each in Arizona and Missouri; four properties each in Tennessee and North Carolina; two properties each in South Carolina and Virginia; and one property in Kentucky. The final two properties include nearly 675,000 square feet of newly constructed buildings in Nashville and Charlotte that were constructed with CarbonCure, a technology for the concrete industry that introduces recycled carbon dioxide into fresh concrete to reduce its carbon footprint. The portfolio consists of modern, state-of-the-art industrial and bulk distribution properties with an average size of 169,000 square feet. The properties feature average clear heights of 30 feet with 130-foot truck courts. The portfolio was 97 percent occupied at the time of sale by more than 100 regional, national and international tenants with an average remaining lease term of 5.7 years. “This diversified portfolio provides immediate scale and operating …

June 30, 2022

Iowa Market Reports Midwest Midwest Market Reports Office

Collaboration, Creativity and Coffee: Reasons Why the Office Still Matters

by Kristin Harlow June 30, 2022

By Chris Curran and Alexa Strickler, R&R Realty Group It’s no secret that the past couple of years have been dramatically different for us all. We’ve had to adjust to new routines, new practices and new ways of getting work done. Some of these new things will be here to stay while others have already receded into memory. No matter the amount of change though, one thing remains the same. That’s the need for human connections and relationships. And, ultimately, that’s what physical office space provides. It seems many organizations are starting to understand just how valuable this connection truly is. Across various submarkets within the Des Moines metro area, companies large and small are returning to in-person work. And it’s not just existing customers returning to their spaces. There has been a marked uptick in office leasing activity in locations ranging from downtown to the western suburbs. From advertising agencies to accounting firms and more, the vacancy rate across the entirety of central Iowa is beginning to be chipped away. Why are so many companies across a wide variety of industries heading back to the office? Well, like we mentioned earlier, there’s a sense of connection and an ability …

June 30, 2022

Development Florida Office Southeast

OKO Group, Cain Top Off 55-Story 830 Brickell Office Tower in Miami

by John Nelson June 29, 2022

MIAMI — OKO Group and Cain International have topped off construction at 830 Brickell, a 55-story office tower underway in Miami’s Brickell Financial District. The 724-foot building is the first standalone office tower to break ground in Brickell in over a decade, according to the developers. Project partners include general contractor Civic Construction, architectural firm Adrian Smith + Gordon Gill and interior designer Iosa Ghini Associati. 830 Brickell will include a rooftop bar/lounge and restaurant, as well as a health and wellness center, conferencing facilities, an outdoor terrace, cafés and street-level retail space. 830 Brickell is more than 60 percent preleased ahead of its projected completion later this year. Cushman & Wakefield has executed leases with Microsoft, Thoma Bravo, A-CAP, CI Financial, Marsh Insurance, AerCap and WeWork.

June 29, 2022

Development Kentucky Retail Southeast

Skilken Gold Breaks Ground on First Kentucky Publix Grocery Store in Louisville

by John Nelson June 29, 2022

LOUISVILLE, KY. — Skilken Gold has broken ground on Terra Crossing, a shopping center located on 10 acres at 2500 Terra Crossing Blvd. in Louisville. The grocery anchor, a 55,071-square-foot Publix, represents the first Publix location in Kentucky, the Lakeland, Fla.-based grocer’s eighth state of operation. The adjacent 3,200-square-foot Publix Liquors store at Terra Crossing is also the first location outside the state of Florida. Publix plans to open a second Publix grocery store and Publix Liquors store in Louisville in early 2024 at the northeast corner of Ballardsville and Brownsboro roads. In addition to the Terra Crossing groundbreaking, Publix announced it has signed a lease to anchor The Fountains at Palomar shopping center in Lexington, marking the third location announced in Kentucky for Publix. The 55,701-square-foot Publix store and 3,200-square-foot Publix Liquors store are set to open in late 2024.

June 29, 2022

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