CBRE Group Inc. has entered into an agreement to acquire a majority interest in Caledon Capital Management Inc., of Toronto, an investment manager specializing in private infrastructure and private equity investments.

Once the transaction is closed, Caledon will be renamed CBRE Caledon Capital Management Inc. and operate as a separate business unit under CBRE’s independently operated investment management subsidiary, CBRE Global Investors…

Lionstone Investments selected Cushman & Wakefield to lease and manage 271 17^th St., a Class A, 541,870-square-foot office tower in Atlanta’s Midtown submarket. Also known as BB&T Tower and completed in 2009, the 25-story asset is the newest office building constructed at Atlantic Station.

Gramor Development Inc. has secured a $42.5 million construction loan to build the next phase of the $1.5 billion Waterfront Vancouver development on the Columbia River in Vancouver, Wash.

Boston Properties, which owns 60 percent of the General Motors Building at 767 Fifth Ave. in Manhattan, said its consolidated joint venture entity has completed a $2.3 billion refinancing of the 50-story, 2 million-square-foot trophy tower that replaces $1.6 billion in debt that was maturing in October.

The REIT did not identify the sources of the refinancing, only describing it as a group of lenders during the firm’s late April first-quarter 2017 earnings call with analysts. At that time, CFO Michael LaBelle called it “the most significant financing that we plan to complete this year.”…

Gretzinger Investment Group LLC has acquired a two-building, 103,000-square-foot asset in Las Colinas, Texas, in an off-market transaction. The property consists of a 22,154-square-foot office building and an 80,900-square-foot warehouse. Las Colinas Distribution Center 4 and 5 were previously owned by a North Texas family trust…

Las Colinas Industrial Asset Changes Hands

City Office REIT Inc. has embarked on an extensive multi-million-dollar renovation of Park Tower, a Class A, 475,000-square-foot office building in Downtown Tampa, Fla. Completion of the project is anticipated in the first quarter of 2018.

The modernization process will include a dramatic change of the 36-story tower’s façade. In addition to painting the exterior a lighter color that will transform the building’s overall look, amenities will be upgraded with a new lobby and the entrance will feature a “light box” on the corner of Tampa and Madison streets. Renovation plans also include the addition of new tenant amenities:

Orda Management Corp. has closed on $430 million in debt financing on 225-233 Park Avenue South in Manhattan. Newmark Knight Frank Capital Markets was Orda’s exclusive advisor in the debt placement.

The loan was structured as a 10-year, fixed-rate, interest-only loan. Barclays provided the financing, which replaced a previous $217 million loan from the New York State Teachers’ Retirement System. The funding reportedly allowed ownership to recapture equity spent on a recent $135 million, 18-month capital improvement plan…

Lincoln Property Co. and Foundry Commercial has completed the first phase of repositioning at 121 West Trade, a Class A, 329,930-square-foot office tower in Uptown Charlotte, N.C. The modernization process began in late 2015 when the asset changed hands and the new owner, Lincoln Property Co., selected Foundry Commercial as leasing manager.

BenefitMall, a provider of employee benefits, HR and payroll products and services, is set to relocate its headquarters from Miramar, Fla., to a new corporate facility situated in the heart of Dallas’ Park Central neighborhood. The company recently signed a lease for nearly 43,000 square feet of space at Red River Asset Management’s Hidden Grove office building.

Bentall Kennedy is serving as the real estate advisor for Warba Bank K.S.C.P., and has acquired a Class A, 280,000-square-foot office building in Milwaukee, Wis., from The Brewery Works Inc…

Bentall Kennedy Teams Up With Warba Bank

Robinson Weeks Properties broke ground on a new building in the Gillem Logistics Center, a 1,168-acre state-of-the-art, regional distribution and e-commerce logistics campus in Forest Park, Ga.

The plan is to build a 1-million-square-foot logistics building, which could be expanded to 1.4 million. The building will offer 40-foot clear heights, cross dock loading and abundant truck trailer storage…

New Logistics Property Coming to Metro Atlanta

Alexander’s Inc., a Vornado Realty Trust affiliate, completed a $500 million refinancing of the office portion of 731 Lexington Ave. in Manhattan.

The interest-only loan is at LIBOR plus 0.9 percent (currently 1.95 percent) and matures in June 2024, as extended. The Paramus, N.J.–based REIT realized net proceeds of about $188 million after repaying the existing $300 million mortgage and closing costs…

Alexander’s Cashes Out Nearly $200M in Manhattan Refi

BLT Enterprises has purchased a 60,000-square-foot industrial building in the North San Diego submarket of Carlsbad, Calif., for $9 million. Ron Jacobson of SD Realty Partners represented BLT Enterprises and David Steffy of Palomar Commercial worked on behalf of the seller, El Cedro LLC, which leased back the entire property for three years.

MVP REIT Inc. and MVP REIT II Inc., of Las Vegas, have agreed to merge, with MVP I merging with and into a wholly owned merger subsidiary of MVP II. The merger subsidiary will continue as the surviving entity, the companies announced Tuesday.

The merger agreement was negotiated and recommended for approval by independent special committees of each REIT’s board of directors, both committees comprising only independent directors. The transaction remains subject to various approvals and other conditions, including the approval of MVP I’s stockholders, and also is subject to a 45-day go-shop period…

Longtime strategic partners Ivanhoé Cambridge and Callahan Capital Properties made their first Downtown Manhattan purchase, acquiring 85 Broad St., a 30-story office tower, from a joint venture of MetLife Real Estate and Beacon Capital Partners for approximately $650 million.

“We believe downtown offers tremendous long-term growth potential given the immense public and private investment that continues to attract a broad array of businesses and residents,” Tim Callahan, CEO of Callahan Capital Partners, said in a prepared statement…

Friedman Integrated Real Estate Solutions has facilitated another commercial real estate sale in Michigan, this time a retail property in Southfield, Mich., a northern suburb of Detroit. The asset is a 2,586-square-foot Wendy’s restaurant, sold by SCR Holdings LLC to a West Coast investor.

Steven Silverman, an associate with Friedman, represented both the seller and the buyer in the transaction. The price remains undisclosed, but according to Silverman, “This acquisition provided the West Coast buyer an opportunity to purchase an investment grade asset at a higher yield than comparable assets are trading for in other areas of the country.”..

Friedman Integrated Real Estate Solutions, on behalf of SRC Holdings LLC, has sold a 2,586-square-foot retail investment property in Southfield, Mich. Steven Silverman, associate at Friedman, also represented the buyer, a California-based investor.

The building is located at 20066 E 8 Mile Road, in the northern suburb of Detroit. Situated along a strong retail corridor, the asset currently serves as a drive-through Wendy’s restaurant…

Paragon Commercial Group has acquired Northridge Plaza Shopping Center, a roughly 235,000-square-foot asset in Northridge, Calif., from NLSR LP, for $54.7 million, or roughly $233 per square foot.

Greg De Rubeis of LBPM negotiated on behalf of the seller, while Yubin Tao of Investment Real Estate Association represented the buyer…

Paragon Closes Largest LA County Retail Deal of 2017

Barrister Executive Suites Inc., an executive suite provider, has renewed its 18,657-square-foot master lease at the third building of The Torrey Reserve office park in San Diego’s Carmel Valley. Rich Porreco, managing principal at Cresa, negotiated the renewal on behalf of Barrister.

Daikin Industries Ltd., one of the largest heating, ventilating and air conditioning manufacturers in the world, has completed its $417 million state-of-the-art business campus on 500 acres outside Houston, where it is expected to eventually employ about 4,000 people.

Daikin Texas Technology Park in Waller County, about 40 miles from Houston, features a 4.2 million-square-foot building, the largest tilt-wall structure in the world and the second largest manufacturing facility in North America. The 90-year-old Japanese company began construction in March 2015. The plant will support the design, engineering and assembly of a wide variety of heating and cooling products for residential and commercial use that carry the Daikin, Goodman and Amana brand names…

Cushman & Wakefield has been awarded the exclusive leasing assignment of Aventura Corporate Center, a Class A, three-building office park in Aventura, Fla. Senior Director John O’Neil will lead the marketing efforts on behalf the owner.

Lincoln Property Co. Southeast arranged three leases at Northwoods Business Center, a 110,343-square-foot office park in Norcross, Ga. These new deals bring the occupancy rate to 92 percent at the three-building campus that also includes warehouse space.

Boston Mountain Rural Health Center leased 4,300 square feet of office and clinical space at The Park Shopping Center, Holiday Island, Ark., according to Lovely County Citizen. This marks the second medical facility in the area and provides affordable family medicine, pediatric care, women’s health, behavioral health and nutrition services.

Chicago-based Zeller Realty Group has purchased downtown Atlanta’s 100 Peachtree. CBRE represented the sellers, Five Mile Capital Partners, of Stamford, Conn., and Equitable Real Estate Partners. The purchase price was not disclosed.

The 33-story, 622,000-square-foot, Class A building was developed by Equitable Life Insurance Co. in 1969 as its Southeast headquarters. Designed by Skidmore, Owings & Merrill, the tower is currently 82 percent leased to tenants that include Accenture, Koch Industries, Georgia’s Own Credit Union, law firm McGuireWoods and software maker CallRail…

Rexford Industrial Realty Inc. acquired Safari Business Center in Ontario, Calif., for $141.2 million and completed the disposition of an industrial property in San Diego for $40.1 million.

The 52.2-acre Safari Business Center comprises 16 buildings totaling roughly 1.1 million square feet. The campus is currently 97 percent leased to 75 tenants, with spaces ranging from 7,000 to 36,000 square feet. Features include dock-high loading, 171 parking spaces, sky lights, low-finish floor plans and showrooms. The property is adjacent to the Ontario Airport within the Inland Empire West submarket…

The corporate parent of First National Bank will relocate into a new mixed-use tower that’s set for development in downtown Raleigh.

Dubbed FNB Tower to honor the anchor tenant, the office and residential high-rise developed by Dominion Realty Partners at 501 Fayetteville St. will be fronting City Plaza. Construction at the site is scheduled to begin in December, with delivery anticipated in mid-2019. Once completed, the new office tower is expected to attain LEED Platinum certification…

Lincoln Property Co. Southeast has closed a series of leasing agreements at Executive Park, a five-building office campus in Atlanta that totals 321,000 square feet. The company secured two new leases, two renewals, one relocation and one expansion, bringing occupancy to 91 percent. The leasing advisory team led by Vice President Jeff Hanson and Associate George Gwaltney represented the landlord, Emory Healthcare.

IKEA has started the process of opening a location in Nashville, Tenn., providing plans to the Metropolitan Government of Nashville and Davidson County for a proposed 341,000-square-foot store.

If approved, the store would be the second in the state for the Swedish-based company, following one in Memphis that opened last year…

IKEA Lands in Nashville

NAI Hiffman facilitated the sale of a 39,267-square-foot office building in McHenry, Ill. to the Alexander Center for Autism (ALCA). Senior Vice President of Office Services Jason Wurtz and Vice President of Office Services Aubrey Reken led the team of brokers on behalf of the seller, Pioneer Center for Human Services, a non-profit organization which moved to 4031 Dayton St. in McHenry.

Kennedy Wilson Real Estate Fund V has acquired 400 and 450 N. Brand Blvd., a two-building, 437,000-square-foot office campus in Glendale, Calif., for $144 million. The transaction was paid for with $50 million in equity from Fund V and a five-year interest-only loan of $94 million.

JLL’s Executive Vice President Tom Bohlinger and Senior Vice President Jon Lange represented the seller, a venture of MetLife Inc. and Beacon Capital Partners, as well as the buyer. JLL’s Managing Director Brian Halpern and Senior Associate Alex Kane led the team on the financing…

Cushman & Wakefield negotiated the sale of Executive University Courts, a 97,125-square-foot office campus in Lauderhill, Fla. The property commanded $9.3 million.

The advisory team led by Managing Director Dominic Montazemi, Senior Associate Greg Miller and Executive Director Scott O’Donnell represented the seller, Kas University LLC, an affiliate of Miami-based SF Partners. According to public records, MYP Executive LLC purchased the property, receiving nearly $7 million in acquisition financing from Atlantic Coastal Bank…

Midwest Industrial Funds, which has recently acquired a warehouse in Huntley, Ill., has also traded one of its industrial properties—a 76,000-square-foot building in Cary, Ill. The buyer is an affiliate of Illinois Lift Equipment, which is expanding and moving its operations from West Chicago.

Principals & Co-Founders of Entre Commercial Realty, Daniel Jones and Daniel Benassi, together with Michael DeSerto, a broker with the company, facilitated the sale on behalf of Midwest Industrial. Steve Morken, president & owner of Morken & Associates, represented the buyer…

Docutech, a document and compliance technology company for the mortgage, home equity and consumer lending industries, has opened a new office in downtown Scottsdale, Ariz. The new branch will be located in the north building of the Lincoln Towne Centre. Additionally, the company appointed Amy Brandt as president & COO. She will lead operations for Docutech in Scottsdale.

Newmark Grubb ACRES arranged the sale of two industrial buildings in Decker Lake Industrial Park in West Valley City, Utah. NGA Vice President Greg Ratliff represented the buyer, a nationwide investor with multiple multifamily properties in Salt Lake City. NGA’s Executive Vice President Bryce Blanchard and Senior Vice President Lucas Burbank represented the seller, First Industrial.