National Commercial Real Estate News From CoStar Group
ShopRite Leases 90,000 SF at Gateway Center
ShopRite has signed a lease for 90,000 square feet at Gateway Center Phase II, a suburban-style mixed-use retail project at 501 Gateway Dr. in Brooklyn, NY.
Set to open at the project's completion in fall of 2014, the ShopRite at Gateway Center will be the grocer's largest supermarket in the Tri-State region, bringing approximately 300 full- and part-time jobs to the community.
The store will be operated by an affiliate of Glass Gardens, and...
Goldman Sachs, Greystar Buying 27 Apt. Properties from EQR for $1.5 Billion
Equity Residential (NYSE:EQR) has begun selling some assets to raise money for its deal to buy Archstone for $16 billion in cash, stock and assumed debt with AvalonBay (NYSE: AVB).
This week, Chicago-based EQR agreed to sell a 27-property portfolio to a joint venture of Goldman, Sachs & Co. and Greystar Real Estate Partners for $1.5 billion in cash, which works out to approximately $187,000 per apartment unit and a capitalization rate in the mid...
Woodbridge Apt. Community Sells for $107.5 Million
Capri Capital Partners LLC traded Rolling Brook Village, a 732-unit garden apartment complex in Woodbridge, VA, for $107.5 million or $146,900 per unit. The Donaldson Group and its equity partner Angelo, Gordon & Co. were the purchasers. Freddie Mac provided the financing.
Rolling Brook consists of 53 buildings on 55 acres, about 24 miles south of Washington, DC. It is less than 23 minutes from the Marine Corps Base Quantico, Fort Belvoir and...
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...