The new location will serve as Gilbane Building Co.’s seventh Florida office and allows the company to better serve clients and partners.

Gilbane Building Co. opened a new office at 100 South Ashley Drive, a Class A office tower in downtown Tampa, Fla. Tim Hensey, vice president of Gilbane’s Southwest Florida region, will lead the new Tampa office. This marks Gilbane’s seventh office in Florida, joining the company’s Sarasota, Fort Myers, Jacksonville, Orlando, Gainsville and Jupiter, Fla. locations.

Transwestern handled the sale of a 27,500-square-foot office/flex building located in Rockville, Md. The building last traded in 2000 for $4.3 million.

Jarher Investments LLC acquired Piccard Drive Health Center, an office/ flex building located at 1335 Piccard Drive in Rockville, Md. for $4.2 million. Transwestern Senior Vice Presidents Guy Copperthite and Jim Darby acted on behalf of the seller, 1335 Piccard LLC, an entity affiliated with Well Stone Corp., public records show. According to PropertyShark, the building last traded in 2000 for $4.3 million.

ScanlanKemperBard and Artemis Real Estate Partners acquired an 86,445-square-foot retail portfolio in the city’s Pearl District from Hoyt Street Properties. The properties are currently 94 percent leased.

ScanlanKemperBard (SKB), in a joint venture with Artemis Real Estate Partners acquired a nine-property, ground-floor retail portfolio located in Portland, Ore.’s Pearl District. Hoyt Street Properties was the seller.

The Pearl District portfolio comprises 86,445 square feet of retail condominiums in nine separate but adjoining blocks, which are 94 percent leased. The properties include Park Place, The Lexis, Bridgeport, The Streetcar Lofts, The Metropolitan, The Encore, Riverstone, Tanner Place and The Pinnacle…

Cushman & Wakefield’s advisory team facilitated the disposition of Seminole Springs Office Center, which was 65 percent leased at the time of the sale.

Cushman & Wakefield has completed the sale of Seminole Springs Office Center, a 32,975-square-foot office building in suburban Orlando, in a $4.1 million transaction.

Managing Director Damien Madsen and Senior Associate Tommy Pinel worked on behalf of the seller, Springs Equity Ltd. Seminole Springs Office Center LLC acquired the property, paying approximately $124.34 per square foot. According to public records, First Colony Bank of Florida provided $3.1 million in acquisition financing to facilitate the deal. The deal did not include 50 percent of the underlying land, subject to a ground lease and valued at $1.05 million.

• Says GSEs hold or guarantee 44 percent of multifamily loans
• Reducing GSE holdings could leave ‘significant imprint’

Plans by Republican lawmakers and the Trump administration to reform government-backed mortgage companies could lead to a “significant shock” to the market for multi-family commercial real estate, said Federal Reserve Bank of Boston President Eric Rosengren.

“Policy makers looking to reform the GSEs might look at the GSEs’ large and growing footprint in the market and ask whether this level of government-sponsored exposure is safe, and whether that level of government support is appropriate,” Rosengren told a conference Tuesday at New York University’s Stern School of Business, referring to government-sponsored enterprises, which include Fannie Mae and Freddie Mac…

The project, located in Glasscock County, Texas, will generate 197.6 megawatts of clean energy once the first phase is finalized. Upon completion, the project will total 380 megawatts.

Tri Global Energy, an originator and developer of utility-scale wind energy projects, announced the Bearkat Wind Energy Project has reached financial close and begun construction. Bearkat will be developed in phases, with the first one slated to bring online 197.6 megawatts of clean energy. Upon completion, the wind farm will total 380 megawatts.

After rebranding and redeveloping the former Hoffmann-La Roche North American headquarters campus as ON3, Prism Capital Partners gave the green light for leasing the two office buildings in Clifton, N.J.

Real estate developer Prism Capital Partners has selected Cushman & Wakefield to market and lease its latest historic redevelopment, ON3. The 116-acre campus is bordered by Nutley and Clifton, N.J., and last traded in 2016, when the Swiss multinational health care company Hoffman-La Roche decided to close its doors, after 80 years of activity within the community. The Cushman & Wakefield team handling the assignment will be Vice Chairman Robert Rudin, Senior Director Bill Brown and Associate Director Josh Cohen…

The development, which has an estimated cost of roughly $1.5 billion, will be a three-building public destination featuring the Museum, the Forum and the Library.

More details emerged on plans for the Obama Presidential Center, which will sprout up on approximately 21 acres in the historic Jackson Park on the South Side of Chicago. Members of the Obama Foundation unveiled the conceptual vision and site map of the 200,000 to 225,000-square-foot project at a recent event hosted by President and Mrs. Obama.

The firm plans to increase the property’s parking ratio and modernize the asset located in Kearny Mesa. The submarket had the lowest vacancy rate of all Central San Diego’s R&D and industrial submarkets last year.

BLT Enterprises’ latest addition to its San Diego portfolio is a two-story flex industrial building in the Kearny Mesa submarket. The company purchased the 71,862 square-foot asset from Apprentice and Journeymen Training Trust Fund of Southern California Plumbing and Piping Industry for $8.9 million. Magnum Properties and SD Realty Partners represented the buyer, while Commercial Properties Group and Voit Real Estate Services represented the seller…

The two facilities add a total of 105,672 square feet to Friedman’s property management portfolio and are located in Auburn Hills, Mich.

Friedman Integrated Real Estate Solutions has added two properties to its management and leasing portfolio, both comprising the office park at West Entrance Drive in Auburn Hills, Mich.: a three-story, 55,672-square-foot facility at 985 Entrance Drive and a three-story, 50,000-square-foot property at 1080 West Entrance Drive…

Friedman Wins Management of 2 Office Buildings

Building C at Miami International Tradeport, completed this year, is now 50 percent leased. Opening is scheduled for later this month.

Liberty Property Trust has secured a 79,590-square-foot lease at one of its recently completed properties in Medley, Fla., the Miami International Tradeport Building C. AMG Global Distribution Inc. is a long-term Liberty tenant and this move helps the company expand and consolidate its operations.

Peter Sheridan, director of leasing at Liberty Property Trust, represented the developer in the transaction, while Patrick O’Hare, president of Florida Corporate Realty Inc., worked on behalf of the tenant. AMG Global Distribution Inc. is consolidating operations from multiple locations and will approximately triple its space at Miami International Tradeport…

The 4,195-square-foot property at 7180 W. Grand Ave. in Elmwood Park, Ill., brought the seller, a private West Coast investor, $4.5 million.

The Baum Realty Group of Chicago has closed the sale of a 4,195-square-foot property at 7180 W. Grand Ave. in Elmwood Park, Ill..

A Baum Investment Sales team led by Patrick Forkin and Brad Teitelbaum, vice presidents, represented the seller, a private West Coast investor, who obtained approximately $4.5 million as a result of the transaction. The buyer was an institutional investor. According to real estate data provider PropertyShark, the seller bought the place for $3.3 million in 2007…

The company has expanded its portfolio of 150 meeting spaces throughout New York City with the addition of 3,707 square feet at 875 Washington St.

Thor Equities has inked a new lease at 875 Washington St. in Manhattan’s Meatpacking District. The owner was represented in-house by Adam Rappaport, vice president of leasing. The tenant, workspace network Breather, will occupy 3,707 square feet of office space on the building’s second floor. The expansion will add two new spaces for meetings and team off-sites, besides the approximately 150 spaces the company already operates throughout the city.

The 24-story Waterview tower in Arlington, Va., sold for $711 per square foot, a record-breaking price for suburban Washington.

One decade after acquiring the premier Waterview office tower in Arlington, Va., just outside Washington, D.C., Paramount Group has traded the 647,000-square-foot property in a head-turning transaction first announced in February. The company sold Waterview to Morgan Stanley Real Estate for $460 million, or roughly $711 per square foot—a deal that, according to a report by commercial real estate services firm NAI KLNB, “breaks the record for a suburban Washington office building sale [in] price per square foot.”

The company has inked a long-term lease for an entire floor at 1040 Ave. of the Americas. NGKF represented the owner, Skyline Developers, while CBC Advisors acted on behalf of the tenant.

Fortune 500 company Adecco has inked a 10-year lease to occupy 40,000 square feet on the entire 19^th floor at 1040 Ave. of the Americas in New York City. NGKF’s Executive Vice President William Cohen, Associate Director Andrew Weisz and JD Cohen arranged the transaction on behalf of the landlord, Garden Homes Development-owned Skyline Developers. CBC Advisors’ Peter Sabesan and Jonathan Bock represented the tenant.

Shrines are costly to maintain, and they occupy prime land.

Shinto elders at the centuries-old Unesco World Heritage Site of Shimogamo Shrine upset some neighbors when they bulldozed a swath of old Kyoto forest to build an apartment complex with units selling for more than $2 million apiece. “They should call it the Shimogamo Corporation,” says one angry parishioner, Akira Hitomi.

10 Federal, a company that acquires, develops, constructs and manages multifamily and self-storage properties in North Carolina, recently announced that its recently opened, fully automated self-storage facility at 3802 Angier Ave. in Durham, N.C., leased a record 77 units in a single month. The firm’s 2542 South Alston Ave. facility held the previous record with 48 leases in May 2016. The property includes 205 climate-controlled and ambient units. 10 Federal’s construction company built the facility in eight months, just in time for the spring leasing season.

Dealer Tire renewed at 3708 River Road in Franklin Park, while Crane Nuclear Inc. signed at 860 Remington Blvd. in Bolingbrook.

Dan Leahy, executive vice president with NAI Hiffman, has closed two leasing contracts on behalf of AEW Capital Management. The two buildings, both in the Chicago metro area, add more than 170,000 square feet to NAI Hiffman’s brokerage portfolio.

The first transaction, a lease renewal, involved the facility at 3708 River Road in Franklin Park, Ill. The 118,235-square-foot property has been leased by tire manufacturer Dealer Tire since 2007 and operates as one of the company’s many distribution centers. Tom Walrich of Lee & Associates represented Dealer Tire in the transaction.

The property, which is located in Whittier, Calif., sold for $25.3 million and generated an unleveraged internal rate of return of 14.5 percent.

Terreno Realty Corp. sold an industrial property in Whittier, Calif., for around $25.3 million. The company bought the asset from Sohnen Enterprises in 2012 for $16.1 million. The estimated unleveraged internal rate of return generated by the investment was 14.5 percent.

The 161,610-square-foot industrial development was built in 2004 on approximately 7.4 acres. Located at 12252 E. Whittier Blvd., the Class A property is close to Whittier Marketplace and PIH Health and has easy access to interstates 605 and 5. The one-story asset was managed and leased by CBRE and is fully leased to one tenant…

The company is managing the location selection process, building design and construction of a 230,000-square-foot facility for Biomerics in Salt Lake City.

Wasatch Commercial Management is managing the location selection process, building design and construction of a 230,000-square-foot headquarters for Biomerics. The medical device manufacturer catering to the cardiovascular market plans to relocate its corporate headquarters to a new facility in the International Center west of the Salt Lake City International Airport. The asset will include corporate and engineering offices, research & development labs and clean-room manufacturing.

An affiliate of The EMMES Group of Companies has acquired Main Plaza, two Class A, 12-story office towers in Irvine, Calif., marking the firm’s return to the Orange County commercial real estate scene. The development also includes two retail pads with restaurants El Torito Grill and McCormick & Schmick’s as tenants.

The privately owned real estate services advisory firm did not disclose the amount it paid for the 625,000-square-foot office development but Yardi Matrix data shows that the transaction closed in April for $220 million. The portfolio was sold by San Francisco-based Shorenstein, which had owned the property in the Airport Area submarket since 2008, when it bought the buildings from MPG Office Trust for $211 million, according to Yardi Matrix. The property was part of a $2.9 billion, 24-property portfolio MPG Office Trust acquired from Equity Office Properties Trust in April 2007…

The 462,888-square-foot office complex located at 800 S. Douglas Road received LEED Silver certification in 2009 and underwent a $7 million renovation in 2015.

CBRE has inked a 55,000-square-foot lease for the University of St. Augustine’s South Florida campus at Douglas Entrance, a five-building office park in Coral Gables, Fla. The leasing team represented owners Banyan Street Capital and Oaktree Capital Management in the transaction.

Senior vice presidents Diana Parker and Maggie Kurtz lead CBRE’s team, along with associates Jason Krieg and Kevin Gonzalez…

CBRE Brings New Tenant to Coral Gables Campus

The company’s Urban Property Group also secured the first tenant for the 3,044-square-foot, two-unit retail condominium in Bankers Hill—Brooklyn Bicycles.

Colliers International arranged the sale of a 3,044-square-foot, two-unit retail condominium located in San Diego’s Bankers Hill neighborhood. The Cohen Family Trust acquired the property for $1.3 million from CR 5th & Nutmeg LLC. Bill Shrader, David Maxwell and Joe Brady of Colliers International’s Urban Property Group represented both the seller and the buyer. The team also inked the first lease for the property with Brooklyn Bicycles.

The purchase of the Promenade Shopping Center in Palm Beach Gardens, Fla., marks the first acquisition for the company’s newly opened Miami office.

The company has acquired the Promenade Shopping Plaza, a 202,696-square-foot retail center in Palm Beach Gardens, Fla. The buyer is an affiliate of Nuveen, the investment management arm of TIAA.

Public records show that an affiliate of Dallas-based Lone Star Funds sold the property for approximately $49.3 million. The 97 percent occupied retail center is anchored by Publix, CVS, Bealls Outlet and Planet Fitness. Completed in 1972, the Promenade Shopping Plaza underwent redevelopment in 2015…

• New laws to tackle chronic building delays, restore confidence
• Property developers face three years jail for non-compliance

India’s notoriously unreliable property developers have been put on notice: clean up your act, or you could end up in jail.

Under laws that came into force Monday, developers have to use at least 70 percent of sale proceeds to complete residential projects, rather than funnel money to other jobs, and will no longer be allowed to start pre-selling apartments before all building approvals are obtained. Developers who don’t comply with the new laws face up to three years in jail…

CBRE Senior Vice President David Prioletti closed the sale of an 18,000-square-foot industrial property on behalf of the owner, production company Video Impressions. Senior Managing Director Corey Chase of NGFK represented the buyer, food analysis laboratory Certified Laboratories Inc.

The industrial/flex facility at 2505 Diehl Road in Aurora, Ill., sold to food testing company Certified Laboratories Inc. Corey Chase, senior managing director of NGKF, was the buyer’s broker while David Prioletti, CBRE’s senior vice president, represented the seller. The 18,000-square-foot property was initially built and customized to accommodate video and audio company Video Impressions.

Westbrook Partners and TIER REIT sold the two buildings to UNIZO Holdings after completing significant repositionings of the buildings. The transaction reflects TIER REIT’s continuing strategy of exiting non-target markets.

Westbrook Partners and TIER REIT recently sold 1325 and 1341 G St. (the Colorado Building), two Class A office buildings in Washington, D.C.’s East End submarket, to UNIZO Holdings Co. for $259 million.

HFF represented both parties in the 440,419-square-foot, off-market transaction…

Two DC Office Buildings Sell for $259M

The disposition of 4600 Plaza in Harwood Heights, Ill. brought $7 million to the seller, an affiliate of Next Realty LLC.

Baum Realty Group has found a buyer for the retail center at 4600 Plaza in Harwood Heights, Ill. The sales team made up of Danny Spitz and Greg Dietz, managing directors, closed the transaction in less than 50 days and brought the seller, an affiliate of Chicago-area company Next Realty LLC, $7 million. The buyer was an out-of-state investment group.

“The speed of the transaction can be attributed to 4600 Plaza fitting into a high demand investment category of retail properties in proven submarkets with high barriers to entry,” Dietz said in a prepared statement…