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LaSalle Acquires Three Hotels for $292.5M
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LaSalle Hotel Properties has completed the acquisition of two hotels in Philadelphia and one in San Francisco, while selling off an asset in New Jersey.
The Bethesda, MD-based hospitality REIT acquired the 294-room Westin Philadelphia and the 288-room...
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CoStar's People of Note (Aug. 29-Sept. 4)
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This week's People of Note includes the following markets: Atlanta, Inland Empire, Los Angeles, Milwaukee/Madison, New York City, Orange County and Washington, DC.
ATLANTA
Green Bldg. Expert Joins Grubb's Office Group
Grubb & Ellis Co. appointed...
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Deloitte Leases 166,435 SF in San Francisco
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Deloitte finalized its 15-year, 166,435-square-foot lease with Tishman Speyer at 555 Mission St. in San Francisco. The major international accounting and consulting firm will occupy nine full floors (four through seven and 10-15) with a move in date scheduled...
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CoStar's People of Note (Aug. 22-28)
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This week's People of Note includes the following markets: Atlanta, Denver, Hartford, New York City, Northern New Jersey, Retail, South Florida and Washington, DC.
ATLANTA
Brown Joins Cortland as Chief Acquisitions Officer
Cortland Partners recruited...
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Cornerstone, Kettler Sell Pentagon City Multifamily for $125M
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Cornerstone Real Estate Advisers LLC and Kettler sold the Metropolitan at Pentagon City, a 325-unit multifamily complex at 901 S. 15th St. in Arlington, VA, to Invesco for $125 million. Invesco paid $111.7 million, or about $343,700 per unit, for the...
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STG Leases 111,900 SF at Reston Town Center
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STG, a contractor that provides IT services to the U.S. government, signed a 10-year office lease for 111,896 square feet at 12011 Sunset Hills Road in Reston, VA.
The 12-story property totals 321,394 square feet in One Reston Overlook in the Reston...
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Eight Takeaways on the Current State of Distress Opportunities
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Since the start of 2009, buyers and sellers have transacted about $16.5 billion in distressed commercial real estate sales. Certainly more are expected to follow. Banks and CMBS special servicers are currently dealing with nearly $290 billion in distressed...
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InComm Expands to 186,000 SF in Downtown Atlanta
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InComm signed an expansion deal that nearly doubled its space from 95,000 square feet to 186,000 square feet at the American Cancer Society Center in Atlanta. The stored-value gift and prepaid products marketer and distributor, a 14-year tenant of the...
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Boston Properties to Acquire 510 Madison
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Boston Properties said Monday that it is acquiring 510 Madison Ave. from oft-troubled New York developer Harry Macklowe.
The REIT has agreed to a purchase price equal to the principal and accrued interest on the office tower's senior mortgage and...
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Regal Entertainment Buys Trio Portfolio for $29M
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Regal Entertainment Group acquired three movie theaters in Columbia, MD; Berkeley, CA; and Walled Lake, MI, from Westcore Properties for $29.14 million or $225.33 per square foot.
United Artist occupies all of the locations.
The assets include...
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