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TH Real Estate, an affiliate of TIAA, provided debt financing of $110 million, which was arranged jointly by the New York City and Washington, DC offices of CBRE Capital Markets.
Duncan at the session said that one of the reasons Westchester is attractive to the firm is that there has been approximately six million square feet of outdated office space taken off the market in the last 10 years or so.
The newly launched Valuation Portfolio Services practice is aimed at firms seeking valuation solutions for multiple properties located across the United States or around the globe.
The acquisition of GRM China will expand Iron Mountain's presence in Beijing, Shanghai, Guangdong, Qingdao, Dalian, Chengdu and Wuhan (including more than 2.5 million cubic feet of storage).
Los Angeles-based Hudson Pacific will own a 55% interest in the joint venture and will serve as the managing member and day-to-day operator of the property, while Allianz will own 45% interest.
The property at 5401 Watson Drive is located in the Mesa del Sol community about eight miles outside of Albuquerque and is 100% leased to an affiliate of Fidelity Investments.
The new warehouse is strategically positioned to allow Overstock to offer two-day ground shipping to more than 99% of customers in the contiguous United States.
The four-story 139,431-square-foot building, estimated to cost approximately $56.3 million to complete, will be built on the southwest corner of Clark Avenue and 1st Street on a one-acre parcel.
The acquisition will add 300 highly skilled technology experts—many recruited, trained and certified through ValuD's unique university partnerships—to JLL's specialized technology solutions team around the world.