The property is currently the largest hotel under the Tru brand. It is owned by the United Brotherhood of Carpenters and managed by Prism Hotels & Resorts.

Tru by Hilton has opened a new location in Las Vegas, near McCarran International Airport. The 166-key hotel is currently the largest to operate under Hilton’s Tru brand and is the eighth one to open in the U.S.

While the separate versions of tax reform put forth by the U.S. House of Representatives and the U.S. Senate have not yet been reconciled, the report concludes that neither proposal, or any combination of the two, would cause anything close to shockwaves in the commercial real estate industry.

Tax reform legislation that is currently in the hands of the U.S. Congress is not quite in its final form yet; however, as is, the proposed changes are not expected to have any notable negative impact on investment in the commercial real estate industry, according to a new tax plan report by real estate investment services firm Marcus & Millichap. On the other hand, there is likely to be some upside…

Hines, along with Bear Properties, were tapped to redevelop part of Canagra’s Nebraska campus. Four buildings and the corresponding parking lots are not included in the project.

Conagra Brands has selected Hines to redevelop part of its Omaha, Neb. campus. The redevelopment, expected to occur over the next decade, will include residential units, a hotel, restaurants, office and green spaces. Hines expects to break ground around early summer 2019 and selected Bear Properties to assist with the project.

The company acquired Oak Park Commons, a 139,717-square-foot grocery-anchored shopping center in South Plainfield, N.J., continuing its plan to diversify the geographic makeup of its portfolio.

ShopOne Centers REIT Inc. has acquired Oak Park Commons, a 139,717-square-foot grocery-anchored shopping center in South Plainfield, N.J., marking its initial entry in the New York City MSA. The price was not disclosed.

“For us, we were looking to find something in a really strong demographic market, finding our first deal in the New York metro area and then honing in on that exact trade area,” Michael Carroll, ShopOne Centers REIT’s CEO, told Commercial Property Executive.“It’s really strong, with over 100,000 people within a three-mile radius of the site, and a preeminent location.”…

The partnership acquired the five-building Marina Heights campus from State Farm Automobile Insurance Co. in a sale-leaseback deal valued at $928 million, which could mark the largest-ever CRE sale in metro Phoenix.

A partnership between Transwestern Investment Group and JDM Partners LLC, called Corporate Properties Trust III LP, has completed its acquisition of a five-building, 2-million-square-foot Class A office campus in Tempe, Ariz., in a sale-leaseback with State Farm Automobile Insurance Co.

Financials on the deal were not disclosed, but a Phoenix-area outlet reported the deal as valued at $928 million, a big enough sum to make it the largest-ever CRE sale in metro Phoenix…

HFF represented Stockbridge Capital Group in the sale of the properties, while also arranging acquisition financing for the buyer, through a fixed-rate loan with Global Atlantic Financial Group.

ATCAP Fund I LP acquired a four-property light industrial portfolio in Houston, Texas, from Stockbridge Capital Group.

HFF represented the seller in the deal, and also arranged acquisition financing for the buyer, securing a five-year, fixed-rate loan with Global Atlantic Financial Group. The transaction price was not disclosed…

ATCAP Snaps Up 16-Building Industrial Portfolio in Houston

Expected to open in August 2018, I-595 Business Center will feature approximately four high-dock doors per bay, built-to-suit offices and ample parking.

Cushman & Wakefield has negotiated a long-term lease with Johnstone Supply at I-595 Business Center, a 150,000-square-foot industrial facility currently under construction in Dania Beach, Fla. The tenant will occupy 32,400 square feet at the property scheduled for delivery in August 2018.

Located at 3200 SW 30^th Ave., the Class A building will feature 32-foot clear heights, T-5 lighting, built-to-suit offices, four dock-high doors per bay, ESRF fire safety system and 183 parking spaces. Johnstone Supply, a subsidiary of The Ware Group, is a wholesaler, distributor, contractor and supplier of HVAC/R equipment. The company is relocating its Dania Beach operations from Broward International Commerce Center at 329 N. Bryan Road…

Governors Park Lofts LLC has acquired the freestanding retail property for $6.1 million. The transaction closed at a 6.5 percent cap rate.

Faris Lee Investments has arranged the sale of a 14,990-square-foot, freestanding retail property in Northglenn, Colo. for $6.1 million. The retail space is triple-net leased to Walgreens. Faris Lee Investments worked on behalf of the seller, Northglenn LLC. and Pinnacle Real Estate Advisors represented the buyer Governors Park Lofts LLC. The transaction closed at a 6.5 percent cap rate.

The Graduate Minnesota was formerly known as The Commons Hotel and marks the only lodging in the Minnesota-area. The property is close to the Minneapolis-Saint Paul International Airport.

AJ Capital Partners has opened the Graduate Minnesota, a 304-key hotel—formerly known as The Commons Hotel—located on the East Bank campus of the University of Minnesota. This hotel marks the only on-campus lodging in the area.

Located at 615 Southwest Washington Ave., between Coffman Memorial Union and Gopher’s stadium, the boutique hotel offers convenient access to various shopping, dining and entertainment venues such as TCF Bank Stadium, Mill City Museum, Walgreens and Minneapolis Institute of Art. Additionally, the Minneapolis-Saint Paul International Airport is six miles away. Graduate Minnesota features common area amenities such as:

The seller, Republic West Remodeling, will continue to occupy part of the building, while the remaining space will be leased out to a new tenant.

ORION Investment Real Estate facilitated the sale of an office property at 8101 E. McDowell Road in Scottsdale, Ariz. The building, containing 18,000 square feet of office and industrial space, sold for $2.2 million to local real estate investors and restaurant franchise owners Chad Burge and Tiffany Oder. The new owners plan for a new tenant to initially move into a small part of the property. The building is currently occupied by previous owner Republic West Remodeling, who has inked a leaseback deal to remain at the property…

Stanford Children’s Health’s pediatric hospital campus will more than double its size by adding nearly 150 beds in its latest sustainably designed building.

Stanford Children’s Health has opened the new main building of the Lucile Packard Children’s Hospital Stanford in Palo Alto, Calif., more than doubling the hospital in size. The 521,000-square-foot structure will add 149 beds to the hospital’s campus, greatly expanding the capacity of the facility.

The City of Oaks’ economy and lodging industry continues to see strong growth, as the area remains a premier destination for business and tourism. Consulting firm HVS’ research pointed out that Raleigh’s hotel industry is performing well, making Raleigh one of the top hospitality markets in the country.

Population gains and steady rent growth are luring investors and developers to the Research Triangle and the hospitality industry is one of the largest beneficiaries. HVS Senior Vice President Janet Snyder and Project Manager with the firm’s Detroit office Michael Bendert have carried out a report regarding Raleigh’s hotel landscape. The city was named among the top 12 destinations in the world to visit in 2017 by Forbes Travel Guide, a designation that helped boost an already strong hotel and tourism industry…

The assets total 92,000 square feet and previously changed hands when M&T Bank purchased them through the acquisition of Hudson City Savings Bank in 2015.

M&T Bank has disposed of two office buildings in Paramus, N.J. Two different entities purchased the 92,000-square-foot assets, which are strategically located immediately off of routes 17 and 80.

The first building is located at 80 W. Century Road and comprises 70,000 square feet on 3.5 acres. Amenities include 15,000-square-foot flexible floor plates and an on-site M&T bank branch, which will continue to operate despite the change in ownership. The new owner plans to occupy part of the building, while the remaining portion will be marketed for lease.

Meritex has begun development of an 80,000-square-foot warehouse next to its 11-building CLT Logistics Center. Construction is anticipated to wrap up early next year.

The Meritex Co. has begun construction work on its latest development near Charlotte Douglas International Airport in Charlotte, N.C. The building, expected to deliver in the first quarter of 2018, is the first of three to be built next to the company’s 11-building CLT Logistics Center, which it acquired last year.

The West Hotel Curio Collection by Hilton comprises 182 guestrooms and was designed by Fitzpatrick + Partners, with interiors by Wood Bagot.

Multiplex has completed construction of West Hotel, Curio Collection by Hilton, which marks Australia’s first Curio hotel.

Located at 65 Sussex St. in Sydney, the 182-key hotel was designed by Fitzpatrick + Partners, with interiors by Wood Bagot. The property features spacious suites, a restaurant, open air garden atrium, private meeting and dining room, bar and fully-equipped fitness center. West Hotel features a botanical theme throughout with a three-story internal garden atrium courtyard, white flower motif in the lobby and floral-inspired carpet design in the guest rooms. A signature feature of the hotel is its geometric façade with 333 individual panels of glass used for its construction, the first of its kind in Australia. Construction began in October of 2016 and was completed in less than 13 months…

Miramar Capital purchased a 124,000-square-foot office building in Redondo Beach, Calif., from Gramercy Property Trust. At the time of sale, the asset was 58 percent occupied.

Gramercy Property Trust sold Redondo Beach Business Court to Miramar Capital. The 124,400-square-foot office building in Redondo Beach, Calif., changed hands for $36.7 million.

The two-building asset, located at 3701 Doolittle Drive, was completed in 1985 and underwent cosmetic renovation in 1989. The building offers more than 200 parking spaces and convenient access to interstates 105 and 405. Redondo Beach Business Court was 58 percent occupied at the time of sale, with less than two years remaining on the lease term for its tenant Northrop Grumman. The property is situated near multiple restaurants and hotels, including Annapurna Indian Restaurant, Spires Restaurant and SpringHill Suites by Marriott…

NKF Capital Markets arranged the acquisition financing on behalf of Lane Partners for HQ@first, a 603,666-square-foot, three-property creative office tower.

Lane Partners has secured $200 million for the acquisition of HQ@first, a three-property creative office tower in San Jose. NKF Capital Markets arranged the financing placed with Blackstone Mortgage Trust.

Located at 110, 120 and 130 Holger Way, the 603,666-square-foot, Class A asset was constructed in 2010 and is situated on just under 10 acres. The LEED Gold certified property features landscaped paths, views of the bay and hills, patio areas, a fitness center with locker rooms, executive business center, natural light, outdoor barbecue, basketball court, game room and 300-plus seat cafeteria…

No major office project has come online since 2008, but market dynamics are poised to shift, with substantial new commercial developments planned for the coming years.

West Palm Beach is currently in the middle of an economic surge. Area employment grew at a swift pace and roughly 18,200 jobs were added in the 12 months ending in July. Companies willing to relocate into the metro are lured by the strong local economy and the lack of a state income tax. Moreover, the city of West Palm Beach has been attracting employers through incentive packages offering firms more than 10-year tax breaks for creating new, high-paying jobs.

The market’s total office inventory encompasses more than 25 million square feet, and roughly 6 million square feet is under various phases of development. No major office project has come online since 2008, but market dynamics are poised to shift, with substantial new commercial developments planned for the coming years. In the aftermath of Hurricane Irma, Florida’s prime office markets reported minimal impact…

The M1 portfolio encompasses 12 retail assets totaling 4.8 million square feet across 620 stores. The properties are all single level, fully-leased and grocery-anchored.

Echo Polska Properties has acquired 12 major shopping centers and retail parks in Poland, in three tranches, in the course of three years. The purchase, from a consortium with 25 percent owned by Redefine Properties, totals €692 million or around $818 million. This acquisition is part of a larger 28-property portfolio that was taken over by the consortium.

North American Properties plans to transform a 418-acre brownfield site on the Raritan River in Sayreville, N.J., into the state’s “next great hometown.” The firm’s Managing Partner Mark Toro discusses what to expect from the project and how it will impact the community.

The brownfield redevelopment trend continues to emerge throughout the northeastern U.S. as a profitable strategy for developers. North American Properties (NAP) has revealed its plans for Riverton, a $2.5 billion riverfront project in Sayreville, N.J., which will offer a mix of retail, restaurants, office space, hotels with resort-inspired services, parks and a marina, complemented by open gathering spaces, all on a 418-acre site.

The 52-acre, 1.3 million-square-foot Bayshore Town Center is located in a suburb of Milwaukee and features retail, office and residential space.

Cypress Equities will handle property leasing and management services for Bayshore Town Center in Glendale, Wis., a suburb of Milwaukee. The 52-acre, open-air mixed-use development boasts 1.3 million square feet of retail, office and residential space. The change in management and leasing comes after the sale of Bayshore to AIG Global Real Estate Services.

The company negotiated five retail and office leases, as well as the $1.4 million sale of a warehouse and land parcel.

Divaris Real Estate’s Richmond office completed six new deals in the metropolitan area, totaling 63,842 square feet. The transactions included a sale and five leases.

The sale comprised a 2.1-acre plot of land and a 28,300-square-foot warehouse building,  which Bloxton Investment Group acquired for $1.4 million from SKS Associates. Vice Presidents Peter Vick and Harrison Hall represented the buyer in the transaction. The asset is located at 2800 Ackley Ave. in Henrico, Va. The location provides access to distribution routes, such as Route 33 and Interstate 295…

Office leasing activity was solid in all submarkets, with nearly 1.5 million square feet leased across the metro. Roughly 200,000 square feet of space is scheduled to come online by year-end.

The Inland Empire’s economy is strong, fueled by port activity and a bustling housing market, but that doesn’t translate into significant growth for the office sector. Although office-using jobs have grown by about 17 percent during the last decade, they account for only a small share (14 percent) of total employment. As a result, lease rates and development are increasing at moderate levels.

Although underperforming in the current cycle, the area’s multifamily market is on sound footing, mainly due to the city’s thriving core.

Although underperforming in the current cycle, the Cleveland multifamily market is on sound footing, mainly due to the city’s thriving core. Many central areas are also growing, but the suburbs continue to face the effects of the last downturn.

Forman Mills is the newest tenant at Forestville Plaza Shopping Center, bringing the occupancy of the recently remodeled mall to nearly 100 percent.

Forman Mills, a big-box retailer specializing in off-price apparel, has signed a lease for more than 38,500 square feet at Forestville Plaza Shopping Center in Prince George’s County. MacKenzie Commercial Real Estate Services LLC arranged the lease, which lowered the remaining leasing area of the mall to 2,000 square feet.

Forestville Plaza Shopping Center is located east of downtown Washington, D.C., at the intersection of Pennsylvania Avenue and Forestville Road and comprises 218,000 square feet. Anchor tenants include Roses, Save-a-Lot, Price Busters Furniture and Shoe Show. The shopping center was recently redeveloped, receiving an upgraded exterior facade, parking lot resurfacing and lighting fixtures…

The Huntington Beach, Calif., facility was purchased by a family-owned electronic vaping business. DAUM Commercial represented the buyer and JLL worked on behalf of the seller.

DAUM Commercial Real Estate Services has arranged the sale of a 40,532-square-foot industrial facility in Huntington Beach, Calif. The facility was acquired by a family-owned electronic vaping business for $7.2 million. DAUM Commercial worked on behalf of the buyer and JLL represented the seller, Carol Watson Trust, in the deal.

The sale of the properties will provide affordable housing opportunities, while the headquarters’ relocation aims to solve the traffic congestion issue present at the current main office.

The Austin Independent School District is advancing with the sale of several buildings, including the district’s headquarters building—the Carruth Administration Center located at 111 W. Sixth St. Approval from the district’s trustees is pending.

The board had started soliciting bids for a number of properties through an open, public process…

AISD to Finalize Sale of Austin Assets, Relocate HQ

Swiss pension fund AFIAA has reached full occupancy at 125 W. 25th St., a Manhattan office property the firm acquired last year for $150 million.

Swiss pension fund AFIAA has signed a 15-year lease with WeWork at one of its office buildings in Manhattan. The tenant will occupy 45,000 square feet of space, bringing the asset’s office occupancy rate to 100 percent.

The pharmaceuticals company will occupy 100,000 square feet at the upcoming The Gateway lifestyle and entertainment center in the heart of Salt Lake City.

Recursion Pharmaceuticals will relocate its headquarters to The Gateway, a mixed-use downtown lifestyle and entertainment district located in the heart of Salt Lake City. Located along 400 West, between 200 South and South Temple, The Gateway is currently managed by Vestar, a privately held real estate company specializing in the development and administration of shopping and entertainment destinations. Since its founding in 2013, Recursion Pharmaceuticals has been based in Research Park near the University of Utah.

With the addition of seven new tenants, Pembroke Point 880 is nearing full occupancy roughly two years after its completion.

Cushman & Wakefield has negotiated seven new leases totaling 59,130 square feet at Pembroke Pointe 880, a Class A office building in Pembroke Pines, Fla.

Located at 880 SW 145^th Ave., Pembroke Point 880 was completed in 2015 and is part of a planned four-building office campus spanning across 36 acres. Encompassing 143,355 square feet, the property features 36,111-square-foot floor plates, ample parking and is currently 86 percent occupied…

C&W Closes Broward County Office Leases

Union Investment sold the 20-story Millennium Tower, which also includes high-end condo residences. The property last traded in 2003, for $64.8 million.

A property fund managed by TH Real Estate has purchased Millennium Tower, a 20-story, 201,371-square-foot office building in downtown Seattle, it was announced on Friday by the seller, Union Investment, of Hamburg, Germany.

The property located at 719 Second Ave. is reportedly fully occupied and had been a part of Union Investment’s portfolio since 2003, about two years after it was completed. According to Yardi Matrix data, Union Investment paid roughly $64.8 million to Beacon Capital Partners for the asset 14 years ago…

Brennan Investment Group sold the two assets for $17 million. The new owners plan to reposition the properties to increase occupancies and revenue growth.

A partnership between Denholtz Associates and Militello Capital has purchased two industrial/flex portfolios in Orlando, Fla.,  for $17 million from Brennan Investment Group. The Silver Star Portfolio is an eight-building, 254,915-square-foot portfolio acquired for $12 million, while the Parkway Commerce Center is a two-building, 91,500-square-foot property bought for $5 million.

The company secured Tudor Investment Group as its newest tenant at 200 Elm St., a Class A office property which last traded in 2012.

Tudor Investment Corp. has signed a lease for 24,000 square feet of space at 200 Elm St., a Class A office asset in Stamford, Conn. The property is owned by Building and Land Technology and Tudor will occupy space in the B wing, being expected to move in April of 2018. Brian Carcaterra of CBRE Connecticut represented Tudor in the transaction.

The environmental services firm will move its local branch to Union Hills Office Plaza by the end of the year. Waste Management selected Perkins+Will to design its new location.

Waste Management Inc. will relocate its Phoenix office from 221 N. 48th Ave. to a full floor of the Union Hills Office Plaza. The environmental services company is set to occupy more than 47,000 square feet by the end of the year.

The owner is developing a collaborative environment that features a fitness center, tenant lounge, conference facility, café and game area.

BRIDGE Commercial Real Estate has revealed that its $5 million capital improvement plan at BayView Corporate Tower in downtown Fort Lauderdale, Fla., is nearing completion. The final phase of the repositioning project is scheduled for completion during the first quarter of 2018.

Located at 6451 N. Federal Highway, BayView Corporate Tower encompasses 412,520 square feet and is Broward County’s largest office building. The 12-story tower features an on-site café, floor plates of up to 33,500 square feet, on-site security and management, outdoor picnic area and ample parking…

The new Charlestown campus responds to the college’s need for a cohesive location and provides 108,000 square feet of modern educational space.

Callahan Construction Managers, a full-service construction management company, has completed Cambridge College’s campus relocation project in Boston’s Charlestown neighborhood. The school chose the new location to create a more unified campus that is more accessible to students. Wilson Architects designed the facility, which includes additional support spaces for the college…

Regency Centers revealed its plans to develop a GreenWise Market in Indigo Square, scheduled to open in the fourth quarter of 2018.

Regency Centers Corp. has acquired Indigo Square, an eight-acre site in  Mount Pleasant, S.C., for the development of a 51,000-square-foot retail project. The company purchased the property from Johnson Development Group. Regency Center’s retail project is scheduled to open in the fourth quarter of 2018.

Located at 1640 James Nelson Road, Indigo Square is the retail component of a master development that includes the 456-unit Haven at Indigo Square, a CubeSmart self-storage facility and a Home2Suites hotel. The Haven at Indigo Square, Cube Smart and Home2Suites are already open and operating…

Hancock Whitney Bank, Novum Energy and Regency Centers will be tenants at 3200 Kirby, a new 186,000-square-foot Class A office building and luxury mixed-use development.

Thor Equities has secured new leases with Hancock Whitney Bank, Novum Energy and Regency Centers for a combined 36,775 square feet in 3200 Kirby, a component of the Kirby Collection, a new 186,000-square-foot Class A office building and luxury mixed-use development in Houston.

“We are pleased to welcome Hancock Whitney Bank, Novum Energy and Regency Centers to Kirby Collection,” Joseph Sitt, Thor Equities’ CEO, said in a prepared release. “All three tenants were attracted to the project’s highly desirable location, attractive amenities and modern design.”

Following the path of other Midwestern metros, the city is slowly transforming from an industrial center into a modern city with solid job gains in the health-care, business and technology sectors.

Following the path of other Midwestern metros, St. Louis is slowly transforming from an industrial center into a modern city with solid job gains in the health-care, business and technology sectors. This, in turn, has pushed up demand for both suburban office space and highly amenitized urban apartments, benefiting the multifamily market.

St. Louis added 21,100 jobs in the 12 months ending in July, more than 70 percent of which were in high-paying sectors. Local authorities, investors and the city’s creative, skilled workforce built a vibrant startup ecosystem that drew in more than $72 million in venture capital in the third quarter alone, according to data from PitchBook and the National Venture Capital Association. Meanwhile, the hospitality sector is adapting to the metro’s growing accommodation needs. Several historic buildings in downtown St. Louis will reopen as hotels, while Loews Hotels & Co. announced plans to develop its first property in the metro as part of the $260 million Ballpark Village expansion. The mixed-use development located in the city’s core will also include residential and office components…

The Cushman & Wakefield team of Executive Director Wayne Ramoski and Director Gian Rodriguez worked on behalf of the landlord in the lease negotiations.

Cushman & Wakefield has negotiated a long-term lease at Miami Industrial Logistics Center, a three-building warehouse and distribution center in the Hialeah Gardens submarket of Miami. Pro Intermodal LLC will occupy a total of 104,616 square feet, including 2,500 square feet of spec office space.

The new REIT, listed on the Singapore Stock Exchange, will focus on office real estate in key U.S. growth markets.

KBS Strategic Opportunity REIT Inc., a non-traded REIT based in Newport Beach, Calif., sold 11 properties totaling a net leasable area of about 3.2 million square feet to subsidiaries of Keppel-KBS US REIT for $804 million, the seller announced Tuesday. The buyer is a newly formed Singaporean REIT that recently listed on the Singapore Stock Exchange.

The new REIT and its underlying properties will be externally managed by a joint venture between Keppel Capital Holdings Pte. Ltd. and an entity in which KBS Capital Advisors Co-Founders Keith D. Hall and Peter McMillan III have an indirect ownership interest…

The two fully leased properties in the booming Inland Empire industrial market add to the company’s growing industrial footprint in the region.

Westcore Properties has acquired two class A industrial buildings totaling more than one million square feet in San Bernardino, Calif., from Bentall Kennedy. Westcore took over management of the property upon closing.

Located at 7776 E. Tippecanoe Ave. and 927 E. 9th St., both buildings were constructed in 2009 by Higgins Development Partners. The assets are cross-dock facilities with 30 feet of clear height and large, secured truck courts…

Westcore Properties Nabs Industrial Portfolio in San Bernardino, CA

Solid employment gains are producing a high demand for apartments across the metro, which continues to attract investors and developers alike.

Salt Lake City’s multifamily market continues to be one of the strongest in the country. Thanks to solid employment gains that are producing high demand across asset classes, the city remains attractive to investors and developers alike.

The company acted on behalf of both borrower Catalyst HRE and investor Charter Realty Group. 100 percent leased, the portfolio comprises six medical office buildings totaling 68,000 square feet in FL and NC.

HFF— acting by and through Holliday GP Corp.—has secured a $26.6 million recapitalization and financing of a six-property medical office building portfolio on behalf of Catalyst HRE. HFF has also procured the investor, Charter Realty Group. The team—Director Anthony Frogameni, Senior Director Ben Appel and Analyst Matt DiCesare, all of HFF, arranged fixed-rate senior financing through Capital One. HFF’s national medical office building team, comprising Managing Director Evan Kovac, Director Andrew Milne and Associate Zack Drozda, also assisted in the transaction.

PPH Real Estate LLC bought a specialty medical office building located at 5109 Medical Drive on the CHRISTUS Santa Rosa medical center campus.

Stream Realty Partners has sold an 80,000-square-foot specialty medical office building in San Antonio. PPH Real Estate LLC—a partnership between local physicians and investors—purchased the asset. Scott Herbold of CBRE’s Capital Markets arranged the transaction.

Located at 5109 Medical Drive on the CHRISTUS Santa Rosa medical center campus, the four-story building was built in 2008 on a long-term ground lease with CHRISTUS Health. It was planned and assembled for intensive clinical research studies for pharmaceutical R&D. The new owner is planning to bring further services to the medical center campus…

JLL’s Capital Markets represented California State Teachers’ Retirement System and Panattoni Development Co. in the sale of a 423,001-square-foot Class A industrial property to LBA Realty.

LBA Realty has acquired the Mary’s Gone Crackers Manufacturing and Distribution Center in Reno, Nev., from CP Logistics NVCC Building A2 LLC, a partnership between California State Teachers’ Retirement System and Panattoni Development Co., for $29 million.

JLL represented the joint venture in the sale of the 423,001-square-foot Class A industrial asset…

Reno Distribution Center Changes Hands

The joint venture partners plan to redevelop the former printing plant/office property into a creative office destination featuring a high-end public market.

The 24-acre former L.A. Times printing facility in Orange County, Calif., gets a new owner and a new future. In their first joint venture, SteelWave and Invesco Real Estate recently acquired The Press from Tribune Media and Kearny Real Estate Co. in an approximately $65 million transaction.

Located at 500 N. Michigan Ave., the 326,000-square-foot tower features 24 floors and last underwent cosmetic renovations in 2009. The property is situated adjacent to Macerich’s The Shops at North Bridge.

The Macerich Co. has completed the sale of an office building in Chicago for $86.4 million. The asset was unencumbered and wholly-owned by Macerich.

Located at 500 N. Michigan Ave., the 326,000-square-foot tower features 24 floors. Originally completed in 1967, the building underwent cosmetic renovations in 2009. The asset offers 55 parking spaces, floor plates ranging from 13,435 to 13,900 square feet, seven passenger elevators and 2,000 square feet of first floor retail…

Griffin Capital sold One Century Place to an entity owned by Syed Shamim of Bahrain. Transwestern will continue as property manager for the Class A building, which comprises more than 530,000 square feet.

In the largest office transaction this year in Nashville, Tenn., One Century Place, an eight-story, 538,790-square-foot, Class A office building, changed hands for $100 million. Griffin Capital Co. sold the asset to an entity owned by Syed Shamim of Bahrain.

The first phase of the former LTV Steel site redevelopment in Hazelwood, Pittsburgh comprises 94,000 square feet and will house mostly R&D and office spaces.

Formerly known as the Almono site, Hazelwood Green is one of the largest redevelopment projects in Pittsburgh. One year after the Pittsburgh Planning Commission approved the redevelopment of the 178-acre brownfield site in Pittsburgh’s Hazelwood neighborhood, construction commenced on the first advanced manufacturing facility. The adaptive reuse project of the old Mill 19 building is the anchor development on the site, encompassing 265,000 square feet…

The Parc 17 property, consisting of three buildings, is located within a few minutes of several major routes, including Interstate 20 and Loop 202.

Lee & Associates Arizona completed two leasing transactions at Parc 17, a 177,770-square-foot industrial park in Phoenix. Earlier this year, the company also facilitated the property’s $16 million, all-cash sale to Colony NorthStar Inc. Upon closing, the complex was 24 percent occupied. Since then, Lee & Associates signed two new tenants, bringing the buildings to 75 percent occupancy…

The 30,000-square-foot multi-tenant property is part of a business park located in Wheeling, Ill. It consists of 10 units and is fully leased.

Millennium Properties R/E has negotiated the sale of a 30,000-square-foot warehouse located in Wheeling, Ill. The transaction closed at $1.5 million. The brokers in charge of the deal highlighted that smaller warehouses in the greater Chicago area, such as this one, often command a higher price per square foot as they are in limited supply…