Monday, April 1, 2013

AR Capital Closes on $112M NYC Office Buy

National Commercial Real Estate News From CoStar Group

AR Capital Closes on $112M NYC Office Buy

American Realty Capital NY Recovery REIT, Inc. has closed on its previously-announced acquisition of 218 W. 18th St. in New York City for $112 million, or about $668 per square foot, excluding closing costs.

The 12-story, 167,670-square-foot office building was originally built in 1912 on a quarter-acre in the Chelsea submarket of Manhattan, between Seventh and Eighth Avenues in Midtown South's "Silicon Alley." It was renovated in 1984 and offers...

Equity Office Sells Two Portfolios in South Bay

Equity Office Properties has sold two business complexes located in San Jose and Sunnyvale, CA this week to two separate institutional investors. The portfolio totals nearly 1 million square feet of space that traded for an estimated $359 million.

KBS REIT II, Inc. acquired the eight-building, 610,686-square-foot Corporate Technology Center at 200-475 Holger Way in San Jose for a reported $240 million, or about $393 per square foot.

The two...

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