Monday, December 31, 2012

RFR Acquires Y&R Headquarters At 285 Madison




National Commercial Real Estate News From CoStar Group





RFR Acquires Y&R Headquarters At 285 Madison



RFR Holding, in partnership with an undisclosed real estate investment fund, has acquired the property known as 285 Madison Avenue, a 26-story office building in Midtown Manhattan’s Grand Central district.

Advertising and communications agency Young & Rubicam, which is relocating, sold the 1929-vintage property for a reported $189 million. RFR, a privately held Manhattan-based owner and developer, will invest $50 million in a full repositioning...






CoStar's Top CRE News in 2012




National Commercial Real Estate News From CoStar Group





CoStar's Top CRE News in 2012



Throughout 2012, CoStar News covered the biggest stories in commercial real estate, featuring insightful and timely reporting on the trends and transactions that shaped our industry, with a particular focus on the changes sweeping through the brokerage business. On the last day of the year, we checked our records and identified the most viewed stories over the past 12 months.

By far the single biggest commercial real estate story of the year was...









RFR Acquires Y&R Headquarters At 285 Madison



RFR Holding, in partnership with an undisclosed real estate investment fund, has acquired the property known as 285 Madison Avenue, a 26-story office building in Midtown Manhattan’s Grand Central district.

Advertising and communications agency Young & Rubicam, which is relocating, sold the 1929-vintage property for a reported $189 million. RFR, a privately held Manhattan-based owner and developer, will invest $50 million in a full repositioning...






RFR Acquires Y&R Headquarters At 285 Madison




National Commercial Real Estate News From CoStar Group





RFR Acquires Y&R Headquarters At 285 Madison



RFR Holding, in partnership with an undisclosed real estate investment fund, has acquired the property known as 285 Madison Avenue, a 26-story office building in Midtown Manhattan’s Grand Central district.

Advertising and communications agency Young & Rubicam, which is relocating, sold the 1929-vintage property for a reported $189 million. RFR, a privately held Manhattan-based owner and developer, will invest $50 million in a full repositioning...






RFR Acquires Y&R Headquarters At 285 Madison




National Commercial Real Estate News From CoStar Group





RFR Acquires Y&R Headquarters At 285 Madison



RFR Holding, in partnership with an undisclosed real estate investment fund, has acquired the property known as 285 Madison Avenue, a 26-story office building in Midtown Manhattan’s Grand Central district.

Advertising and communications agency Young & Rubicam, which is relocating, sold the 1929-vintage property for a reported $189 million. RFR, a privately held Manhattan-based owner and developer, will invest $50 million in a full repositioning...






RFR Acquires Y&R Headquarters At 285 Madison




National Commercial Real Estate News From CoStar Group





RFR Acquires Y&R Headquarters At 285 Madison



RFR Holding, in partnership with an undisclosed real estate investment fund, has acquired the property known as 285 Madison Avenue, a 26-story office building in Midtown Manhattan’s Grand Central district.

Advertising and communications agency Young & Rubicam, which is relocating, sold the 1929-vintage property for a reported $189 million. RFR, a privately held Manhattan-based owner and developer, will invest $50 million in a full repositioning...






RFR Acquires Y&R Headquarters At 285 Madison




National Commercial Real Estate News From CoStar Group





RFR Acquires Y&R Headquarters At 285 Madison



RFR Holding, in partnership with an undisclosed real estate investment fund, has acquired the property known as 285 Madison Avenue, a 26-story office building in Midtown Manhattan’s Grand Central district.

Advertising and communications agency Young & Rubicam, which is relocating, sold the 1929-vintage property for a reported $189 million. RFR, a privately held Manhattan-based owner and developer, will invest $50 million in a full repositioning...






RFR Acquires Y&R Headquarters At 285 Madison




National Commercial Real Estate News From CoStar Group





RFR Acquires Y&R Headquarters At 285 Madison



RFR Holding, in partnership with an undisclosed real estate investment fund, has acquired the property known as 285 Madison Avenue, a 26-story office building in Midtown Manhattan’s Grand Central district.

Advertising and communications agency Young & Rubicam, which is relocating, sold the 1929-vintage property for a reported $189 million. RFR, a privately held Manhattan-based owner and developer, will invest $50 million in a full repositioning...






RFR Acquires Y&R Headquarters At 285 Madison




National Commercial Real Estate News From CoStar Group





RFR Acquires Y&R Headquarters At 285 Madison



RFR Holding, in partnership with an undisclosed real estate investment fund, has acquired the property known as 285 Madison Avenue, a 26-story office building in Midtown Manhattan’s Grand Central district.

Advertising and communications agency Young & Rubicam, which is relocating, sold the 1929-vintage property for a reported $189 million. RFR, a privately held Manhattan-based owner and developer, will invest $50 million in a full repositioning...






RFR Acquires Y&R Headquarters At 285 Madison




National Commercial Real Estate News From CoStar Group





RFR Acquires Y&R Headquarters At 285 Madison



RFR Holding, in partnership with an undisclosed real estate investment fund, has acquired the property known as 285 Madison Avenue, a 26-story office building in Midtown Manhattan’s Grand Central district.

Advertising and communications agency Young & Rubicam, which is relocating, sold the 1929-vintage property for a reported $189 million. RFR, a privately held Manhattan-based owner and developer, will invest $50 million in a full repositioning...






RFR Acquires Y&R Headquarters At 285 Madison




National Commercial Real Estate News From CoStar Group





RFR Acquires Y&R Headquarters At 285 Madison



RFR Holding, in partnership with an undisclosed real estate investment fund, has acquired the property known as 285 Madison Avenue, a 26-story office building in Midtown Manhattan’s Grand Central district.

Advertising and communications agency Young & Rubicam, which is relocating, sold the 1929-vintage property for a reported $189 million. RFR, a privately held Manhattan-based owner and developer, will invest $50 million in a full repositioning...






RFR Acquires Y&R Headquarters At 285 Madison




National Commercial Real Estate News From CoStar Group





RFR Acquires Y&R Headquarters At 285 Madison



RFR Holding, in partnership with an undisclosed real estate investment fund, has acquired the property known as 285 Madison Avenue, a 26-story office building in Midtown Manhattan’s Grand Central district.

Advertising and communications agency Young & Rubicam, which is relocating, sold the 1929-vintage property for a reported $189 million. RFR, a privately held Manhattan-based owner and developer, will invest $50 million in a full repositioning...






RFR Acquires Y&R Headquarters At 285 Madison




National Commercial Real Estate News From CoStar Group





RFR Acquires Y&R Headquarters At 285 Madison



RFR Holding, in partnership with an undisclosed real estate investment fund, has acquired the property known as 285 Madison Avenue, a 26-story office building in Midtown Manhattan’s Grand Central district.

Advertising and communications agency Young & Rubicam, which is relocating, sold the 1929-vintage property for a reported $189 million. RFR, a privately held Manhattan-based owner and developer, will invest $50 million in a full repositioning...






Sunday, December 30, 2012

RFR Acquires Y&R Headquarters At 285 Madison




National Commercial Real Estate News From CoStar Group





RFR Acquires Y&R Headquarters At 285 Madison



RFR Holding, in partnership with an undisclosed real estate investment fund, has acquired the property known as 285 Madison Avenue, a 26-story office building in Midtown Manhattan’s Grand Central district.

Advertising and communications agency Young & Rubicam, which is relocating, sold the 1929-vintage property for a reported $189 million. RFR, a privately held Manhattan-based owner and developer, will invest $50 million in a full repositioning...






RFR Acquires Y&R Headquarters At 285 Madison




National Commercial Real Estate News From CoStar Group





RFR Acquires Y&R Headquarters At 285 Madison



RFR Holding, in partnership with an undisclosed real estate investment fund, has acquired the property known as 285 Madison Avenue, a 26-story office building in Midtown Manhattan’s Grand Central district.

Advertising and communications agency Young & Rubicam, which is relocating, sold the 1929-vintage property for a reported $189 million. RFR, a privately held Manhattan-based owner and developer, will invest $50 million in a full repositioning...






RFR Acquires Y&R Headquarters At 285 Madison




National Commercial Real Estate News From CoStar Group





RFR Acquires Y&R Headquarters At 285 Madison



RFR Holding, in partnership with an undisclosed real estate investment fund, has acquired the property known as 285 Madison Avenue, a 26-story office building in Midtown Manhattan’s Grand Central district.

Advertising and communications agency Young & Rubicam, which is relocating, sold the 1929-vintage property for a reported $189 million. RFR, a privately held Manhattan-based owner and developer, will invest $50 million in a full repositioning...






RFR Acquires Y&R Headquarters At 285 Madison




National Commercial Real Estate News From CoStar Group





RFR Acquires Y&R Headquarters At 285 Madison



RFR Holding, in partnership with an undisclosed real estate investment fund, has acquired the property known as 285 Madison Avenue, a 26-story office building in Midtown Manhattan’s Grand Central district.

Advertising and communications agency Young & Rubicam, which is relocating, sold the 1929-vintage property for a reported $189 million. RFR, a privately held Manhattan-based owner and developer, will invest $50 million in a full repositioning...






RFR Acquires Y&R Headquarters At 285 Madison




National Commercial Real Estate News From CoStar Group





RFR Acquires Y&R Headquarters At 285 Madison



RFR Holding, in partnership with an undisclosed real estate investment fund, has acquired the property known as 285 Madison Avenue, a 26-story office building in Midtown Manhattan’s Grand Central district.

Advertising and communications agency Young & Rubicam, which is relocating, sold the 1929-vintage property for a reported $189 million. RFR, a privately held Manhattan-based owner and developer, will invest $50 million in a full repositioning...






RFR Acquires Y&R Headquarters At 285 Madison




National Commercial Real Estate News From CoStar Group





RFR Acquires Y&R Headquarters At 285 Madison



RFR Holding, in partnership with an undisclosed real estate investment fund, has acquired the property known as 285 Madison Avenue, a 26-story office building in Midtown Manhattan’s Grand Central district.

Advertising and communications agency Young & Rubicam, which is relocating, sold the 1929-vintage property for a reported $189 million. RFR, a privately held Manhattan-based owner and developer, will invest $50 million in a full repositioning...






RFR Acquires Y&R Headquarters At 285 Madison




National Commercial Real Estate News From CoStar Group





RFR Acquires Y&R Headquarters At 285 Madison



RFR Holding, in partnership with an undisclosed real estate investment fund, has acquired the property known as 285 Madison Avenue, a 26-story office building in Midtown Manhattan’s Grand Central district.

Advertising and communications agency Young & Rubicam, which is relocating, sold the 1929-vintage property for a reported $189 million. RFR, a privately held Manhattan-based owner and developer, will invest $50 million in a full repositioning...






RFR Acquires Y&R Headquarters At 285 Madison




National Commercial Real Estate News From CoStar Group





RFR Acquires Y&R Headquarters At 285 Madison



RFR Holding, in partnership with an undisclosed real estate investment fund, has acquired the property known as 285 Madison Avenue, a 26-story office building in Midtown Manhattan’s Grand Central district.

Advertising and communications agency Young & Rubicam, which is relocating, sold the 1929-vintage property for a reported $189 million. RFR, a privately held Manhattan-based owner and developer, will invest $50 million in a full repositioning...






RFR Acquires Y&R Headquarters At 285 Madison




National Commercial Real Estate News From CoStar Group





RFR Acquires Y&R Headquarters At 285 Madison



RFR Holding, in partnership with an undisclosed real estate investment fund, has acquired the property known as 285 Madison Avenue, a 26-story office building in Midtown Manhattan’s Grand Central district.

Advertising and communications agency Young & Rubicam, which is relocating, sold the 1929-vintage property for a reported $189 million. RFR, a privately held Manhattan-based owner and developer, will invest $50 million in a full repositioning...






RFR Acquires Y&R Headquarters At 285 Madison




National Commercial Real Estate News From CoStar Group





RFR Acquires Y&R Headquarters At 285 Madison



RFR Holding, in partnership with an undisclosed real estate investment fund, has acquired the property known as 285 Madison Avenue, a 26-story office building in Midtown Manhattan’s Grand Central district.

Advertising and communications agency Young & Rubicam, which is relocating, sold the 1929-vintage property for a reported $189 million. RFR, a privately held Manhattan-based owner and developer, will invest $50 million in a full repositioning...






RFR Acquires Y&R Headquarters At 285 Madison




National Commercial Real Estate News From CoStar Group





RFR Acquires Y&R Headquarters At 285 Madison



RFR Holding, in partnership with an undisclosed real estate investment fund, has acquired the property known as 285 Madison Avenue, a 26-story office building in Midtown Manhattan’s Grand Central district.

Advertising and communications agency Young & Rubicam, which is relocating, sold the 1929-vintage property for a reported $189 million. RFR, a privately held Manhattan-based owner and developer, will invest $50 million in a full repositioning...






RFR Acquires Y&R Headquarters At 285 Madison




National Commercial Real Estate News From CoStar Group





RFR Acquires Y&R Headquarters At 285 Madison



RFR Holding, in partnership with an undisclosed real estate investment fund, has acquired the property known as 285 Madison Avenue, a 26-story office building in Midtown Manhattan’s Grand Central district.

Advertising and communications agency Young & Rubicam, which is relocating, sold the 1929-vintage property for a reported $189 million. RFR, a privately held Manhattan-based owner and developer, will invest $50 million in a full repositioning...






RFR Acquires Y&R Headquarters At 285 Madison




National Commercial Real Estate News From CoStar Group





RFR Acquires Y&R Headquarters At 285 Madison



RFR Holding, in partnership with an undisclosed real estate investment fund, has acquired the property known as 285 Madison Avenue, a 26-story office building in Midtown Manhattan’s Grand Central district.

Advertising and communications agency Young & Rubicam, which is relocating, sold the 1929-vintage property for a reported $189 million. RFR, a privately held Manhattan-based owner and developer, will invest $50 million in a full repositioning...






RFR Acquires Y&R Headquarters At 285 Madison




National Commercial Real Estate News From CoStar Group





RFR Acquires Y&R Headquarters At 285 Madison



RFR Holding, in partnership with an undisclosed real estate investment fund, has acquired the property known as 285 Madison Avenue, a 26-story office building in Midtown Manhattan’s Grand Central district.

Advertising and communications agency Young & Rubicam, which is relocating, sold the 1929-vintage property for a reported $189 million. RFR, a privately held Manhattan-based owner and developer, will invest $50 million in a full repositioning...






RFR Acquires Y&R Headquarters At 285 Madison




National Commercial Real Estate News From CoStar Group





RFR Acquires Y&R Headquarters At 285 Madison



RFR Holding, in partnership with an undisclosed real estate investment fund, has acquired the property known as 285 Madison Avenue, a 26-story office building in Midtown Manhattan’s Grand Central district.

Advertising and communications agency Young & Rubicam, which is relocating, sold the 1929-vintage property for a reported $189 million. RFR, a privately held Manhattan-based owner and developer, will invest $50 million in a full repositioning...






RFR Acquires Y&R Headquarters At 285 Madison




National Commercial Real Estate News From CoStar Group





RFR Acquires Y&R Headquarters At 285 Madison



RFR Holding, in partnership with an undisclosed real estate investment fund, has acquired the property known as 285 Madison Avenue, a 26-story office building in Midtown Manhattan’s Grand Central district.

Advertising and communications agency Young & Rubicam, which is relocating, sold the 1929-vintage property for a reported $189 million. RFR, a privately held Manhattan-based owner and developer, will invest $50 million in a full repositioning...






RFR Acquires Y&R Headquarters At 285 Madison




National Commercial Real Estate News From CoStar Group





RFR Acquires Y&R Headquarters At 285 Madison



RFR Holding, in partnership with an undisclosed real estate investment fund, has acquired the property known as 285 Madison Avenue, a 26-story office building in Midtown Manhattan’s Grand Central district.

Advertising and communications agency Young & Rubicam, which is relocating, sold the 1929-vintage property for a reported $189 million. RFR, a privately held Manhattan-based owner and developer, will invest $50 million in a full repositioning...






RFR Acquires Y&R Headquarters At 285 Madison




National Commercial Real Estate News From CoStar Group





RFR Acquires Y&R Headquarters At 285 Madison



RFR Holding, in partnership with an undisclosed real estate investment fund, has acquired the property known as 285 Madison Avenue, a 26-story office building in Midtown Manhattan’s Grand Central district.

Advertising and communications agency Young & Rubicam, which is relocating, sold the 1929-vintage property for a reported $189 million. RFR, a privately held Manhattan-based owner and developer, will invest $50 million in a full repositioning...






Saturday, December 29, 2012

RFR Acquires Y&R Headquarters At 285 Madison




National Commercial Real Estate News From CoStar Group





RFR Acquires Y&R Headquarters At 285 Madison



RFR Holding, in partnership with an undisclosed real estate investment fund, has acquired the property known as 285 Madison Avenue, a 26-story office building in Midtown Manhattan’s Grand Central district.

Advertising and communications agency Young & Rubicam, which is relocating, sold the 1929-vintage property for a reported $189 million. RFR, a privately held Manhattan-based owner and developer, will invest $50 million in a full repositioning...






RFR Acquires Y&R Headquarters At 285 Madison




National Commercial Real Estate News From CoStar Group





RFR Acquires Y&R Headquarters At 285 Madison



RFR Holding, in partnership with an undisclosed real estate investment fund, has acquired the property known as 285 Madison Avenue, a 26-story office building in Midtown Manhattan’s Grand Central district.

Advertising and communications agency Young & Rubicam, which is relocating, sold the 1929-vintage property for a reported $189 million. RFR, a privately held Manhattan-based owner and developer, will invest $50 million in a full repositioning...






RFR Acquires Y&R Headquarters At 285 Madison




National Commercial Real Estate News From CoStar Group





RFR Acquires Y&R Headquarters At 285 Madison



RFR Holding, in partnership with an undisclosed real estate investment fund, has acquired the property known as 285 Madison Avenue, a 26-story office building in Midtown Manhattan’s Grand Central district.

Advertising and communications agency Young & Rubicam, which is relocating, sold the 1929-vintage property for a reported $189 million. RFR, a privately held Manhattan-based owner and developer, will invest $50 million in a full repositioning...






RFR Acquires Y&R Headquarters At 285 Madison




National Commercial Real Estate News From CoStar Group





RFR Acquires Y&R Headquarters At 285 Madison



RFR Holding, in partnership with an undisclosed real estate investment fund, has acquired the property known as 285 Madison Avenue, a 26-story office building in Midtown Manhattan’s Grand Central district.

Advertising and communications agency Young & Rubicam, which is relocating, sold the 1929-vintage property for a reported $189 million. RFR, a privately held Manhattan-based owner and developer, will invest $50 million in a full repositioning...






RFR Acquires Y&R Headquarters At 285 Madison




National Commercial Real Estate News From CoStar Group





RFR Acquires Y&R Headquarters At 285 Madison



RFR Holding, in partnership with an undisclosed real estate investment fund, has acquired the property known as 285 Madison Avenue, a 26-story office building in Midtown Manhattan’s Grand Central district.

Advertising and communications agency Young & Rubicam, which is relocating, sold the 1929-vintage property for a reported $189 million. RFR, a privately held Manhattan-based owner and developer, will invest $50 million in a full repositioning...






RFR Acquires Y&R Headquarters At 285 Madison




National Commercial Real Estate News From CoStar Group





RFR Acquires Y&R Headquarters At 285 Madison



RFR Holding, in partnership with an undisclosed real estate investment fund, has acquired the property known as 285 Madison Avenue, a 26-story office building in Midtown Manhattan’s Grand Central district.

Advertising and communications agency Young & Rubicam, which is relocating, sold the 1929-vintage property for a reported $189 million. RFR, a privately held Manhattan-based owner and developer, will invest $50 million in a full repositioning...






RFR Acquires Y&R Headquarters At 285 Madison




National Commercial Real Estate News From CoStar Group





RFR Acquires Y&R Headquarters At 285 Madison



RFR Holding, in partnership with an undisclosed real estate investment fund, has acquired the property known as 285 Madison Avenue, a 26-story office building in Midtown Manhattan’s Grand Central district.

Advertising and communications agency Young & Rubicam, which is relocating, sold the 1929-vintage property for a reported $189 million. RFR, a privately held Manhattan-based owner and developer, will invest $50 million in a full repositioning...






RFR Acquires Y&R Headquarters At 285 Madison




National Commercial Real Estate News From CoStar Group





RFR Acquires Y&R Headquarters At 285 Madison



RFR Holding, in partnership with an undisclosed real estate investment fund, has acquired the property known as 285 Madison Avenue, a 26-story office building in Midtown Manhattan’s Grand Central district.

Advertising and communications agency Young & Rubicam, which is relocating, sold the 1929-vintage property for a reported $189 million. RFR, a privately held Manhattan-based owner and developer, will invest $50 million in a full repositioning...






RFR Acquires Y&R Headquarters At 285 Madison




National Commercial Real Estate News From CoStar Group





RFR Acquires Y&R Headquarters At 285 Madison



RFR Holding, in partnership with an undisclosed real estate investment fund, has acquired the property known as 285 Madison Avenue, a 26-story office building in Midtown Manhattan’s Grand Central district.

Advertising and communications agency Young & Rubicam, which is relocating, sold the 1929-vintage property for a reported $189 million. RFR, a privately held Manhattan-based owner and developer, will invest $50 million in a full repositioning...






RFR Acquires Y&R Headquarters At 285 Madison




National Commercial Real Estate News From CoStar Group





RFR Acquires Y&R Headquarters At 285 Madison



RFR Holding, in partnership with an undisclosed real estate investment fund, has acquired the property known as 285 Madison Avenue, a 26-story office building in Midtown Manhattan’s Grand Central district.

Advertising and communications agency Young & Rubicam, which is relocating, sold the 1929-vintage property for a reported $189 million. RFR, a privately held Manhattan-based owner and developer, will invest $50 million in a full repositioning...






RFR Acquires Y&R Headquarters At 285 Madison




National Commercial Real Estate News From CoStar Group





RFR Acquires Y&R Headquarters At 285 Madison



RFR Holding, in partnership with an undisclosed real estate investment fund, has acquired the property known as 285 Madison Avenue, a 26-story office building in Midtown Manhattan’s Grand Central district.

Advertising and communications agency Young & Rubicam, which is relocating, sold the 1929-vintage property for a reported $189 million. RFR, a privately held Manhattan-based owner and developer, will invest $50 million in a full repositioning...






RFR Acquires Y&R Headquarters At 285 Madison




National Commercial Real Estate News From CoStar Group





RFR Acquires Y&R Headquarters At 285 Madison



RFR Holding, in partnership with an undisclosed real estate investment fund, has acquired the property known as 285 Madison Avenue, a 26-story office building in Midtown Manhattan’s Grand Central district.

Advertising and communications agency Young & Rubicam, which is relocating, sold the 1929-vintage property for a reported $189 million. RFR, a privately held Manhattan-based owner and developer, will invest $50 million in a full repositioning...






RFR Acquires Y&R Headquarters At 285 Madison




National Commercial Real Estate News From CoStar Group





RFR Acquires Y&R Headquarters At 285 Madison



RFR Holding, in partnership with an undisclosed real estate investment fund, has acquired the property known as 285 Madison Avenue, a 26-story office building in Midtown Manhattan’s Grand Central district.

Advertising and communications agency Young & Rubicam, which is relocating, sold the 1929-vintage property for a reported $189 million. RFR, a privately held Manhattan-based owner and developer, will invest $50 million in a full repositioning...






Friday, December 28, 2012

RFR Acquires Y&R Headquarters At 285 Madison




National Commercial Real Estate News From CoStar Group





RFR Acquires Y&R Headquarters At 285 Madison



RFR Holding, in partnership with an undisclosed real estate investment fund, has acquired the property known as 285 Madison Avenue, a 26-story office building in Midtown Manhattan’s Grand Central district.

Advertising and communications agency Young & Rubicam, which is relocating, sold the 1929-vintage property for a reported $189 million. RFR, a privately held Manhattan-based owner and developer, will invest $50 million in a full repositioning...






RFR Acquires Y&R Headquarters At 285 Madison




National Commercial Real Estate News From CoStar Group





RFR Acquires Y&R Headquarters At 285 Madison



RFR Holding, in partnership with an undisclosed real estate investment fund, has acquired the property known as 285 Madison Avenue, a 26-story office building in Midtown Manhattan’s Grand Central district.

Advertising and communications agency Young & Rubicam, which is relocating, sold the 1929-vintage property for a reported $189 million. RFR, a privately held Manhattan-based owner and developer, will invest $50 million in a full repositioning...






RFR Acquires Y&R Headquarters At 285 Madison




National Commercial Real Estate News From CoStar Group





RFR Acquires Y&R Headquarters At 285 Madison



RFR Holding, in partnership with an undisclosed real estate investment fund, has acquired the property known as 285 Madison Avenue, a 26-story office building in Midtown Manhattan’s Grand Central district.

Advertising and communications agency Young & Rubicam, which is relocating, sold the 1929-vintage property for a reported $189 million. RFR, a privately held Manhattan-based owner and developer, will invest $50 million in a full repositioning...






RFR Acquires Y&R Headquarters At 285 Madison




National Commercial Real Estate News From CoStar Group





RFR Acquires Y&R Headquarters At 285 Madison



RFR Holding, in partnership with an undisclosed real estate investment fund, has acquired the property known as 285 Madison Avenue, a 26-story office building in Midtown Manhattan’s Grand Central district.

Advertising and communications agency Young & Rubicam, which is relocating, sold the 1929-vintage property for a reported $189 million. RFR, a privately held Manhattan-based owner and developer, will invest $50 million in a full repositioning...






RFR Acquires Y&R Headquarters At 285 Madison




National Commercial Real Estate News From CoStar Group





RFR Acquires Y&R Headquarters At 285 Madison



RFR Holding, in partnership with an undisclosed real estate investment fund, has acquired the property known as 285 Madison Avenue, a 26-story office building in Midtown Manhattan’s Grand Central district.

Advertising and communications agency Young & Rubicam, which is relocating, sold the 1929-vintage property for a reported $189 million. RFR, a privately held Manhattan-based owner and developer, will invest $50 million in a full repositioning...






CoStar's People of Note (Dec. 23-29)




National Commercial Real Estate News From CoStar Group





CoStar's People of Note (Dec. 23-29)



This week's People of Note includes the following markets: Kansas City, New York City, Northern New Jersey and Raleigh.

NEW YORK CITY
Stribling-Kivlan Named President of Stribling Assoc.
By Carol T. Peterson

Stribling & Associates promoted Elizabeth Ann Stribling-Kivlan to president in its New York office. Her new responsibilities will include supervision of all the day-to-day operations and business expansion and devel






Moghadam Ready to Take ProLogis Reins




National





Moghadam Ready to Take ProLogis Reins



SAN FRANCISCO-Walt Rakowich steps down on Monday, all in keeping with the succession plan mapped out at the time of the ProLogis, AMB merger.








Five Mile Closes on Prime Group Buy




National





Five Mile Closes on Prime Group Buy



NEW YORK CITY-The previously announced merger has closed, with Five Mile taking the remainder of Prime’s B preferred shares.








Thursday, December 27, 2012

Mission West Completes $1.3B Disposal Of Its Portfolio




National Commercial Real Estate News From CoStar Group





Mission West Completes $1.3B Disposal Of Its Portfolio



Mission West Properties, Inc. has completed its previously announced agreements to sell all of its real estate assets for about $1.3 billion.

The Cupertino, CA-based company sold certain assets to a joint venture sponsored by affiliates of Divco West and TPG Real Estate for about $400 million in cash and $398 million in assumed mortgage debts and other obligations.

Additionally, Mission West completed a separate transaction in which certain...






Young Broker Learns How to Work His Leads




National





Young Broker Learns How to Work His Leads



NEW YORK CITY-Marcus & Millichap broker Jason M. Byrne says you need to err on the side of aggressiveness . . . and think in terms of what your clients need, not what’s in it for you.











Report: Affordable Sees 'Critical' Shortage



NEW YORK CITY-“There is no room at the inn,” says CohnReznick’s Copeman, citing an imbalance between supply and demand of affordable rental apartments in most markets across the country.








Wednesday, December 26, 2012

Has CMBS Mended Its Ways?




National





Has CMBS Mended Its Ways?



NEW YORK CITY--The sector is on its way back, but there are questions about the wisdom of regulatory oversight.








NYC Investor Picks Up 10 Baltimore Area Hotels




National Commercial Real Estate News From CoStar Group





NYC Investor Picks Up 10 Baltimore Area Hotels



New York City-based MCR Development LLC, an owner and operator of limited-service hospitality properties, purchased 10 hotels in the Baltimore, MD, area. The price was undisclosed.

Skye Hospitality LLC, the seller, is a family-owned firm that developed and operated each location under franchise agreements with Hilton and Marriott.

The 1,294-room portfolio consists of:
Hampton Inn and Suites Arundel Mills, 130 rooms at 7027 Arundel Mills...






Monday, December 24, 2012

Kilroy Realty Pays $315M for Future LinkedIn Campus




National Commercial Real Estate News From CoStar Group





Kilroy Realty Pays $315M for Future LinkedIn Campus



Kilroy Realty Corp., a Los Angeles-based commercial real estate investment firm, acquired a fully entitled 12-acre site in Sunnyvale, CA, which will be the future home of LinkedIn Corp. JP DiNapoli Cos. was the seller.

Kilroy will develop, own and manage the four-building project, which is expected to be completed in late 2014. The sales price of $315 million included development costs.

The new LinkedIn campus will consist of two six-story...






Friday, December 21, 2012

Ares Co-Originates $50M First Mortgage Loan




California





Ares Co-Originates $50M First Mortgage Loan



SACRAMENTO-The proceeds were used to finance the acquisition of a multifamily property here by a Northern California-based private investment group.









400,000-SF Galleria Tower Goes to KBS



HOUSTON-The California investor snags 1800 West Loop South, which hit the market in September for $68 million.









Foreclosure Stock Falls, Apt. Vacancy to Rise Slightly



IRVINE, CA-The national foreclosure inventory drops 9% year-to-date, while the multifamily vacancy rate is expected to increase "modestly" in 2013, according to industry research.









Decline In Availability of US Industrial Space To Continue



LOS ANGELES-Modest economic growth and increased global trade through the US will help sustain demand improvements for warehouse and distribution space, CBRE Group Inc. tells GlobeSt.com.









UCLA Forecast Shows Growth, Housing Leads Way



LOS ANGELES-For California, UCLA Anderson Forecast senior economist Jerry Nickelsburg, says Proposition 30 creates some risk, but the State's outlook still shows a growth rate that exceeds the nation's rate.









Spear Street Capital Plans to Expand Santa Clara Office Campus



SANTA CLARA, CA-John Grassi, president of San Francisco-based Spear Street Capital, has big plans for a three-building office campus in Santa Clara.






Multi-State Portfolio Moves for $600M




National





Multi-State Portfolio Moves for $600M



SAN DIEGO-Locally based Westcore Properties a fund managed by DRA Advisors LLC buy the 11.1-million-square-foot portfolio of industrial in California and the Midwest.











San Francisco Tops Zillow's Ranking of "Seller's Markets"



SAN FRANCISCO-Potential home sellers in many Western metro areas, including the Bay Area, Las Vegas and Phoenix, are well-positioned to take advantage of locally strong demand, says Zillow.











OPINION-What's on Your Commercial Real Estate Wishlist for 2013?



NEW YORK CITY-Brokers, traders and industry professionals alike are making their lists, checking them twice – and maybe three times – and starting to look towards 2013.











Industry Calls for Real Fiscal Reform



NEW YORK CITY-Elected officials are coming to a meeting of minds on the Cliff. But it’s not enough.











Champion To Triple Acquisition Volume



LOS ANGELES-The firm adds Alex Saunders to serve as a partner of Champion-Saunders Multi-Family Investments, a multifamily platform that will target value-add through the Western US.








AECOM Signs 90,000-SF Lease at 125 Broad




National Commercial Real Estate News From CoStar Group





AECOM Signs 90,000-SF Lease at 125 Broad



AECOM, a leading provider of professional technical and management support services for a wide range of public and private clients around the world, has signed a new lease for 90,000 square feet at 125 Broad St. in New York City.

The 40-story, 1.46 million-square-foot, class A office tower was built by Kahn Associates in 1970 on 1.3 acres between Water and South Streets in Lower Manhattan's Financial District submarket. The waterfront property...






MacFarlane Buys Mid-Market Site for New Apartment Building




California





MacFarlane Buys Mid-Market Site for New Apartment Building



SAN FRANCISCO-MacFarlane Partners, based in San Francisco, has grabbed the last remaining development site in Mid-Market with plans to construct a 12-story residential building there.









Polidev Buys Office Building in Jackson Square for $25M



SAN FRANCISCO-Turkish investment company Polidev has bought 747 Front St. in San Francisco's Jackson Square neighborhood for $25 million.









Oceanside Residential and Retail Building Under New Ownership



OCEANSIDE, CA-James and Linda Ritch have picked up a mixed-use building in Oceanside.









Westcore Pays $600M for Joe Benvenuti's Industrial Properties



SACRAMENTO-A San Diego-based investment company has purchased almost all of the industrial properties of the late Joe Benvenuti.






Terranova Corp, Acadia Pay $139M for South Beach Retail Portfolio




National Commercial Real Estate News From CoStar Group





Terranova Corp, Acadia Pay $139M for South Beach Retail Portfolio



A joint venture of Terranova Corporation and Acadia Realty Trust acquired a retail portfolio on Lincoln Road in Miami Beach, FL from South Beach Tristar Capital for $139 million, or more than $2,600 per square foot.

The portfolio totals 53,260 square feet and spans 719 - 838 Lincoln Rd. in the heart of Miami's famed South Beach retail corridor. The center is fully leased to credit tenants including Aldo, Solstice, Tiramesu, Fossil, Kiehl's, SOBE...






San Francisco Tops Zillow's Ranking of "Seller's Markets"




California





San Francisco Tops Zillow's Ranking of "Seller's Markets"



SAN FRANCISCO-Potential home sellers in many Western metro areas, including the Bay Area, Las Vegas and Phoenix, are well-positioned to take advantage of locally strong demand, says Zillow.






Thursday, December 20, 2012

Another Monster NorCal Deal for Kilroy




California





Another Monster NorCal Deal for Kilroy



SUNNYVALE, CA-And the deals keep coming from Kilroy Realty…this time, the L.A. company buys JP DiNapoli Cos. acreage for the new LinkedIn's Sunnyvale campus. It will invest $315-million in the process.






ICE Acquires NYSE Euronext in $8.2B Deal




National





ICE Acquires NYSE Euronext in $8.2B Deal



NEW YORK CITY-The iconic New York Stock Exchange in Lower Manhattan will serve as one of two headquarters for the combined company; NYSE Euronext's Niederauer will serve as president.








$665M Gateway Pacific Terminal Gains Support




National





$665M Gateway Pacific Terminal Gains Support



SEATTLE-The terminal will create 4,400 jobs at full capacity during the construction phase, and 1,250 permanent jobs and $140 million a year in economic benefits from operations.









California





Metrovation Gets Loan on Oakland Mixed-Use



SAN FRANCISCO-Proceeds are used to both refinance a maturing bank loan and to provide the funds for portion of costs associated with converting two spaces to meet tenant needs, GlobeSt.com has learned.









Hines Picks Up Irvine Corporate Center



SANTA ANA, CA-Sunamerica Life Insurance Co. sells the office building within the Irvine Business Complex, and Hines plans extensive improvements.






Wednesday, December 19, 2012

Survey Finds CRE Investors Refocusing On Strategy as Fog of Uncertainty Begins to Lift




National Commercial Real Estate News From CoStar Group





Survey Finds CRE Investors Refocusing On Strategy as Fog of Uncertainty Begins to Lift



With the distraction of the U.S. elections disappearing in the rear-view mirror, more investors are again ready to focus on the opportunities they see in commercial real estate, even though uncertainty remains about the looming fiscal cliff and the political solution to address the nation's rapidly growing debt.

According to the fourth-quarter 2012 PwC Real Estate Investor Survey, investors expect to see an uptick in sales activity in 2013 as property...






Panama Canal Expansion Expected to Bring Rising Tide of Warehouse Investment to Nation’s Seaports




National Commercial Real Estate News From CoStar Group





Panama Canal Expansion Expected to Bring Rising Tide of Warehouse Investment to Nation’s Seaports



As the eight-year, $5.25 billion project to expand the Panama Canal moves toward a 2015 completion, seaports all over the U.S. are gearing up to compete for the lucrative import trade.

Developers, investors and supply chain executives are generally bullish on port markets, encouraged by global trade shifts and events such as the canal expansion, which is widely expected to be a boon to East Coast and Gulf Coast ports.

"Capital is being poured...






Year-End Scramble To Close Deals Takes On Added Urgency




National Commercial Real Estate News From CoStar Group





Year-End Scramble To Close Deals Takes On Added Urgency



December typically sees a rush among investors to close property sales transactions by year-end. But this year, the wave of property sales has been much larger than usual, with an inordinately high number of deals closing since the national elections in early November.

CoStar Group has processed 2,040 more property sale transactions in the five weeks since the election than in the same period last year - 8,365 vs. 6,325 -- with half of that additional...









Dollar Stores Add Up To Big Bucks for Net Leased Investors



Dollar stores continue to expand aggressively throughout the U.S. And the popular stores are single-handedly changing the net lease investment market, which has traditionally been dominated by drug store, fast food and automotive retail concepts, according to the latest net leased retail research.

“They have always proven to be popular with investors because of the minimal property management involved, (triple net leases typically pass all expenses...









HUD Expanding Distressed Loan Sale Program



The U.S. Department of Housing and Urban Development (HUD) is accelerating loan sales under its expanded Distressed Asset Stabilization Program (DASP).

The program enjoys strong nonprofit community support and has attracted major investors such as the Blackstone Group and residential loan servicing firms, such as Bayview Finance and Selene Finance.

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HUD’s next scheduled sale, which will take place...









BOOKED: Prison Operator Sets Date To Become a REIT



The board of Boca Raton-based GEO Group Inc. unanimously authorized the correctional facilities company to take all necessary steps, including the divestiture of certain health care assets, in order to faciliate the company to operate as a REIT beginning Jan. 1, 2013.

"Based on our extensive work over the past few months, our board and our management team strongly believe that positioning GEO for a REIT conversion will maximize our company’s ability...









Carter's Takes 222,730 SF at Phipps Tower



Carter's, Inc. (NYSE: CRI), the baby and children’s clothing marketer of the Carter’s and OshKosh B’gosh brand, signed a long-term lease for 222,730 square feet of office space at Phipps Tower in the Upper Buckhead submarket of Atlanta.

The office building will serve as the company’s new headquarters when it moves from The Proscenium at 1170 Peachtree St. in Midtown.

Phipps Tower is a 20-story, 472,267-square-foot, Class A property that was...









Harvard To Sell Arsenal St. Complex in Boston to Athenahealth



Harvard University agreed to sell Arsenal on the Charles, an 11-building complex on Arsenal Street in Boston’s Waltham/Watertown submarket, to local health care IT firm Athenahealth (Nasdaq: ATHN) for approximately $222 per square foot or $169 million.

The trade of the 29-acre, 760,000-square-foot complex is scheduled to close mid-2013.

O'Neill Properties Group and Prudential Real Estate Investors sold the portfolio to Harvard in 2001 for $162...









Salesforce Preleases 445,000 SF at San Fran Development



Salesforce.com, the cloud computing company, agreed to take the entire 445,000-square-foot office building at 350 Mission St. in San Francisco before construction has even started on the South of Market high rise.

Kilroy Realty Corp. purchased the financial district development site from GLL Real Estate Partners this quarter for $52 million, and intends to begin construction early next year. The 27-story, Class A property will be built according...






AllCells Inks 30,000-SF Lease




California





AllCells Inks 30,000-SF Lease



ALAMEDA, CA-Blood-related human tissue provider, AllCells LLC has leased a 30,000-square-foot space at 1301 Harbor Bay Parkway for its headquarters relocation.









Salesforce Fully Leases New San Francisco Tower



SAN FRANCISCO-Salesforce has signed a lease to occupy the entire 400,000-square-foot office tower to be developed at 50 Mission Street in San Francisco by Kilroy Realty Corp early next year.









Tahoe Ritz-Carlton Gets New Owners



TRUCKEE, CA-Kennedy Wilson and partners have become the new owners of the Ritz-Carlton Lake Tahoe and Ritz-Carlton Residences Lake Tahoe.






Computer Giant Signs Huge Office Tower Lease




California





Computer Giant Signs Huge Office Tower Lease



SAN FRANCISCO-Salesforce.com will take up 100% of Kilroy Realty's 445,00-square-foot building now under construction at 350 Mission St. Legal counsel tells GlobeSt.com the deal was "extremely complicated."







National





Is That a Fiscal Cliff Resolution Ahead?



WASHINGTON, DC-Even if it is, the commercial real estate industry is rushing to close deals in 2012, Larry Selevan, CEO of Chesterfield Faring Ltd. tells GlobeSt.com.








Tuesday, December 18, 2012

Kilroy Ditches Industrial Portfolio for $355M




California





Kilroy Ditches Industrial Portfolio for $355M



LOS ANGELES-Institutional buyers purchased the portfolio and two small office projects, which total approximately 3.7 million square feet.






Friedland Properties Pays $141.5M for Madison Avenue Retail




National Commercial Real Estate News From CoStar Group





Friedland Properties Pays $141.5M for Madison Avenue Retail



Friedland Properties has purchased a 19,100-square-foot premier retail site located at 706 Madison Ave. in New York City from the Bank of New York Mellon Corp. for $141.5 million, representing a price tag of more than $10,000 per square foot for the above-grade space.

The storefront features 80 feet of frontage on famed Madison Avenue at the corner of 63rd Street in the Plaza District on Manhattan's Upper East Side. The property is a pre-war colonial...






Apartment Operator Refinances Southern California Properties




California





Apartment Operator Refinances Southern California Properties



SAN DIEGO-Universe Holdings Development Co. has secured more than $56 million in refinancing for nine multifamily properties in Southern California.









Woodland Rite Aid and Sacramento Walgreens Change Hands



SACRAMENTO-A Northern California family trust has paid over $16 million to acquire a Rite Aid store in Woodland and a Walgreens store in Sacramento in 1031 exchange transactions.









Ellis Partners Acquires Roseville Office Properties



ROSEVILLE, CA-Hines U.S. Core Office Fund has sold a nine-office building portfolio located along Douglas Boulevard in Roseville to Ellis Partners for an undisclosed price.









Kilroy Closes Sale of Industrial and Office Properties



LOS ANGELES-Kilroy Realty Corp., a real estate investment trust based in Los Angeles, has sold its two small office projects and entire industrial portfolio for a total price of $355 million.







National





San Jose Retail Trophy Asset Goes to NY Buyer



SAN JOSE-The property, located at 635 W. Capitol Expressway, is said to have set a new national sales record for the big-box retailer-occupied property with an aggressively low closing cap rate of 4.68%.








In The Pipeline: CoStar Development & Construction News for Dec. 16 - 22




National Commercial Real Estate News From CoStar Group





In The Pipeline: CoStar Development & Construction News for Dec. 16 - 22



In The Pipeline is a column on significant acquisitions of commercial land for sale, and other transactions and trends affecting office, industrial, flex, multifamily, mixed-use, hotel and public works developers. Send us news leads about your new commercial real estate project -- and sign up to be added to our distribution list to receive future In the Pipeline columns by e-mail.
Atlantic Yards' B2 Residential Tower Breaks Ground

B2, slated...






$15M San Francisco Site Changes Hands




California





$15M San Francisco Site Changes Hands



SAN FRANCISCO-The buyer, the City and County of San Francisco, will use the site for its Public Utilities Commission, which is responsible for the city's waste water and sewer system.









BH Returns to Aggressive Buying Mode



LOS ANGELES-GlobeSt.com exclusively learns that the 15-year-old firm is bullish on acquisitions and plans to buy even more in 2013.









Redesign Demonstrates "Open" Office Trend



IRVINE, CA-H. Hendy Associates' redesign of Network Capital's office space here reflects 'transparent leadership' and a 'culture of trust and open communication among employees.'