Two well-located Tempe retail properties have been sold for a total of $22.2 million. JLL represented the seller and procured the buyer, Capstone Advisors. JLL also helped finance the sale. Built in 1998, the two properties total 38,896 square feet combined…
University Health has started work on University Health Palo Alto Hospital, a $470 million project that will anchor a $500 million medical campus. The San Antonio Business Journal reports the hospital, which will house 166 beds will be built on a…
Transwestern Real Estate Services (TRS) closed the sale of Hudson Medical Center to Hammes Partners, a private investment platform focused exclusively on healthcare real estate. The seller, Hudson Medical LLC, was represented by Transwestern’s Frank Richie, Mike Salmen, Erik Coglianese…
Altera Fund Advisors and Virtus Real Estate Capital acquired a four-property medical outpatient portfolio in Tucson from Healthcare Trust of America for $43.23 million ($201 PSF). The joint venture engaged Newmark to arrange financing for the deal. The portfolio’s four…
Elevate Research Properties, Taconic Partners’ life sciences subsidiary, and Silverstein Properties have leased a 10,000-square-foot lab suite at The Hudson Research Center to the Icahn School of Medicine at Mount Sinai. Located at 619 West 54th Street in Midtown…
Single-tenant net lease cap rates increased in the fourth quarter of 2023 for the seventh consecutive quarter to 6.58%, a seven-basis point increase compared to Q3, The Boulder Group reported. By sector, the increases were eight bps to 6.35% for…
1455 Lincoln Parkway is an 186,846-square-foot office building in Atlanta’s Central Perimeter submarket. Search firm Innova Solutions acquired the building and plans to relocate its headquarters there. The company plans to occupy the top two floors of the building, totaling…
Robinson Weeks Partners has broken ground on Charleston Global Crossing, a 635,328-square-foot industrial building in North Charleston, S.C. When completed, Commercial Search reports the development will be the largest speculative industrial building in the city. Project financing includes a $40.1 million…
The Trepp CMBS Special Servicing Rate dropped by six basis points in December 2023, falling to 6.78%. However, the long-term trend is still up: Trepp said the special servicing rate closed out 2023 with a total increase of 167 bps…
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