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Commercial Real Estate News & Analysis
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- Edgemark Completes Chili’s Land Lease
Chili’s Bar & Grill leased a 15,461-square-foot parcel within the North Riverside Plaza in North Riverside, IL. Chili’s leased the land for construction of a 5,874-square-foot outlot building near North Riverside Mall, and plans to open the new location in early 2008. North Riverside Plaza is home to several prominent tenants such as Best Buy, Khol’s, [...]
Wed, 12 Sep 2007 00:18:54 +0000 - ADF Sells Lincoln Park Property
An undisclosed investor purchased the commercial property at 1983 N Clybourn Avenue in Chicago for $2.75 million, or approximately $865 per square foot. Allison TenHoor, CCIM of ADF Capital arranged for the acquisition of the property by the firm last year. The 3,179-square-foot brick building sits on a 7,320-square foot lot and is currently home to [...]
Mon, 10 Sep 2007 23:23:07 +0000 - BCBS Renews 214,400 SF
In one of the biggest lease transactions in Chicago this year, Blue Cross Blue Shield Association renewed its lease on 214,400 SF of office space at 225 N Michigan Ave for an additional 12 years. As the largest tenant in the building, BCBSA occupies all of floors two through six, and parts of floors eight [...]
Sun, 09 Sep 2007 19:37:04 +0000 - Jays Foods Leases 84,000 SF
Jays Foods, Inc. leased 84,000 square feet of industrial space at 17111 Wallace St. in South Holland, Illinois from ProLogis. The move is part of the firm’s expansion and relocation of operations from Chicago. The facility features close proximity to I-80 and I-294, and will better position Jays Foods to serve their Illinois and Indiana clients. [...]
Fri, 07 Sep 2007 00:11:03 +0000 - Edgemark Closes $27.7M in Sales
Edgemark Commercial Real Estate Services, LLC recently announced that its senior vice president Jeffrey J. Kowal closed sales on four shopping centers totaling $27,7 million. A private investor purchased 1024-1048 Sibley Road in Dolton. The center is anchored by Walgreens, and was 100% leased at the time of sale. The property sits on a 4.8 [...]
Thu, 06 Sep 2007 02:09:48 +0000 - Atrium Center Sold for $31.6M
South Loop 2600 LLC purchased the Atrium Corporate Center in Houston for $31.6 million, or almost $84 per square foot. The property was the up-leg in a 1031 exchange, and averaged 81.6% occupancy at the time of sale. The corporate center includes 2600, 2616, 2626, and 2656 South Loop Freeway West, and totals more than 378,127 [...]
Tue, 04 Sep 2007 23:42:03 +0000 - Lafayette 148 Leases 47,800 SF
Lafayette 148, Inc. signed a 10-year lease for 47,800 square feet of office space at 148 Lafayette St. in Manhattan’s Soho District. The women’s clothing retailer will occupy floors two through five. The 12-story building has 155,353 square feet of rentable building area, and features LEED-certified office space. The property sits less than two blocks from [...]
Tue, 04 Sep 2007 00:56:29 +0000 - 14 Penn Plaza Sold for $350M
Dakota Realty Group LLC purchased the office tower at 225 W. 34th Street in New York from Pennsylvania Building Company for $350 million, or $630 per square foot. Delivered in 1925, the 558,000-square-foot building stands 22 stories high and is in close proximity to Penn Station. The building was 92% occupied at the time of sale. Dakota [...]
Wed, 29 Aug 2007 01:47:12 +0000 - WRIT Acquires CentreMed I & II
Washington Real Estate Investment Trust purchased CentreMed I & II in Centreville, VA from INOVA Health System for $15.3 million, or $294 per square foot. The properties were 100% leased at the time of sale. The medical office buildings are located at 6201 and 6211 Centerville Road in the Route-28 Corridor South submarket of Fairfax County. [...]
Tue, 28 Aug 2007 01:27:06 +0000 - Porteous Leases 95,000 SF
Porteous Fastener Company signed a long-term lease for 95,000 square feet of industrial space in the Fullerton Commerce Center located at 410 - 420 Fullerton Ave. in Carol Stream. Panattoni Development listed the asking rate at $6.15/SF/Yr, but the actual rate agreed upon was undisclosed. The property has 95,000 square feet of rentable building area, sits [...]
Sun, 26 Aug 2007 16:43:48 +0000
