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The Terminal Stores building The Terminal Stores building/ Photo by Betsy Kim

NEW YORK CITY—L&L Holding Company, Normandy Real Estate Partners and an institutional investor advised by J.P. Morgan Asset Management have closed on an $880 million acquisition of Terminal Stores, a 1.2 million square-foot building on the far west side of Chelsea in Manhattan. In August, Bloomberg reported the California State Teachers’ Retirement System was one of the investors. Although CalSTRS declined to comment to GlobeSt.com, Real Capital Analytics also lists the pension fund as one of the buyers.

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Betsy Kim

Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.

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