Wednesday, April 10, 2013

MetLife Leases Pair of Charlotte Buildings for Retail Business HQ

National Commercial Real Estate News From CoStar Group

MetLife Leases Pair of Charlotte Buildings for Retail Business HQ

MetLife will lease 340,000 square feet in Ballantyne Corporate Park in the Gragg and Woodward buildings in Charlotte, NC, where the insurance giant is establishing a headquarters for its U.S. retail business.

The insurer announced plans last month to bring 2,600 jobs to Charlotte and Cary, NC, by the end of 2015.

The MetLife move is part of a national trend among insurance companies targeting fast-growing growing Southern and Southwestern markets...

Airbus Brings First Major Aircraft Assembly Operation to U.S.

Airbus will build the only aircraft assembly site in the Western Hemisphere in Mobile, AL; a $600 milllion project called Brookley Aeroplex expected to create 1,000 jobs.

Officials for the Europe-based manufacturer attended a groundbreaking ceremony for the project in the Gulf Coast community yesterday.

“It represents the real transformation of Airbus into a truly global company,” said Airbus President and CEO Fabrice Brégier in his remarks...

Ivanhoé Cambridge Buys Into $1.5B Apartment Portfolio Transaction

Continuing a series of high-profile acquisitions in the U.S., deep-pocketed Canadian institutional real estate manager and investor Ivanhoé Cambridge has made its largest investment to date in multifamily property, joining a partnership of Goldman, Sachs & Co., Greystar Real Estate Partners and others which acquired an apartment portfolio of more than 8,000 units acquired from Equity Residential (NYSE: EQR).

Equity Residential agreed to sell the...

Investcorp Buys 5 Office Bldgs. for $200 Million

Investcorp purchased more than 1 million square feet of office space in metro Washington, DC, Denver and Houston last quarter for $200 million.

The five buildings have a combined vacancy rate of less than 6 percent and were built between 1982 and 2002.

The assets include:
Tysons Commerce Center, an eight-story, 183,792-square-foot office building in Vienna, VA. TA Associates Realty was the seller.
Westmoor Place, a three-building portfolio...

In The Pipeline: CoStar Development & Construction News for April 8 - 14

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.
Airbus Brings First Major Aircraft Assembly Operation to U.S.


AppNexus Expands to 220,000 SF in Chelsea

AppNexus has renewed and expanded its lease to a total of 220,000 square feet in a long-term deal signed at 28-40 W. 23rd St. in New York City.

The interconnected, 561,271-square-foot office buildings were originally built in 1911 on 1.5 acres in the Chelsea submarket of Manhattan, between Fifth and Sixth Avenues, in the heart of the Flatiron digital and media epicenter. The cast-iron building features 54,000 square feet of retail, and new lobbies...

Equity Residential Closes $322.3M Sale of VA Multifamily

Equity Residential completed its trade of Archstone Crystal Towers in Arlington, VA, to Dweck Properties for $322.25 million or $353,344 per unit.

The transaction broke the record for the largest sale of a single multifamily property in the Washington, DC, region. The second highest was Mack-Cali Realty's $262.5 million purchase of the Crystal House in Arlington last month followed by Home Properties' 2011 acquisition of Newport Village in Alexandria

Simpson Thacher & Bartlett Renews 595,000-SF Lease

International law firm Simpson Thacher & Bartlett LLP has renewed its lease for 595,000 square feet at 425 Lexington Ave. in New York City. The lease, totaling 26 floors in the 31-story office tower, will keep the tenant there until 2033.

The 748,985-square-foot, class A office property was built in 1987 on nine-tenths of an acre in Midtown Manhattan's Grand Central submarket, between 43rd and 44th Streets, across from Grand Central Terminal and...

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