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Commercial Real Estate News & Analysis
Manhattan Tower Sells for $1B
Silverstein Properties and the California State Teachers’ Retirement System (CalSTRS) have joined together to purchase the Manhattan Tower located at 1177 Avenue of the Americas for just over $1 billion. The 47-story tower consists of just over one million square feet, making the sale about $1000 per square foot.
The art deco tower was designed by Swanke [...]
280 Park Avenue Sold For $1.28B
Broadway Partners and Investcorp Real Estate have joined together to purchase 280 Park Avenue Istithmar for $1.28B. The Property consists of two towers totaling 1,237,000 square feet, making the sale just over $1000 per square foot.
The Dubai based firm Istithmar purchased the towers in June 2006 for $1.2B. The towers stand tall at 31 and 43 stories, bridged together by a [...]
Germans buy the Rookery for $73M
An unknown wealthy German family purchases the Rookery for $73.4M from Broadway Partners. The 285,706 square foot building is located at 209 South LaSalle Street, Chicago.
The twelve story building was constructed in 1888 and renovated in 1991. The building is a National Historical Landmark and has received numerous design awards. At the time of sale it was reported [...]
Professional Packaging Systems Leases 104,000SF
Professional Packaging Systems LLP will occupy 104,000 square feet of industrial space in Grand Prairie, Texas. The property is located at 2002 Avenue R, just south of the North Carrier Parkway and East of the Great Southwest Parkway. The property is owned by ML Realty Partners headquartered in Addison, Texas.
Professional Packaging Systems is a national discount supplier [...]
Surface Guard Leases 107,000SF
Surface Guard Inc. renewed a lease of 107,000SF in Aurora. The lease is comprised of two buildings, located at 515 and 615 Enterprise Street. The two buildings are owned and managed by Duke Realty. No information was made available regarding the lease rate.
Surface Guard specializes in the manufacturing of surface protection films.
Surface Guard was represented by [...]
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