News

Preferred Office Properties has purchased CAPTRUST Tower, joining previous part-owner, Kane Realty Corporation.

True believers and detractors are watching the flexible office space provider, following its obtaining a loan facility that would bolster its initial public offering.

The hotel investment and management firm has acquired and will operate the 127-room Courtyard by Marriott Madison East, the 130-room Fairfield Inn & Suites Madison East and the 115-room Hampton Inn Madison East Towne Mall Area.

Brechner joins Colliers with more than 35 years of experience leading companies with revenues in excess of $10 million. For the past 20 years he led ventures within the analytical laboratory and quality assurance industry.

Constructed in 1987, Morristown North Commerce Center is a two-story property that spans 14 acres. It currently has 32,997 square feet of office/lab/cleanroom space and 14,322 square feet of office space available for lease.

“Our residential platform will continue to grow in D.C., and across the US, from both acquisition and development as we look to establish a platform that exceeds 10,000 units by 2023,” says Oxford's Jeff Turkanis.

Washington Prime was able to arbitrage the unproductive land component of the properties by securing 30-year capital while still maintaining control, according to CEO Lou Conforti.

Olive Tree Management sold the property located at 1 Overlook Drive in historic Monroe Township, according to brokerage firm Gebroe-Hammer Associates.