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WEST PALM BEACH, FL-Hart Advisers Inc. sold the 423,323-rentable-sf Phillips Point for $330 per sf. The company bought the property in 1996 for almost $88.8 million. Company goals were exceeded with the sale, a Hart Advisers representative says.
MILAN, ITALY-The London-based independent private equity fund manager sells the renovated 355,080-sf building for upward of $86 million to one of the leading German open-end funds.
MONTREAL-Through its Moncon Management Inc. subsidiary, the Chicago-based hotel company is handed the management for a 607-room former Wyndham-branded hotel in Downtown Montreal that was recently acquired by CNL Hospitality Properties Inc.
MARIETTA, GA-Atlanta-based Spectrum Realty Advisors lined up the Charlotte, NC-based department store chain which has broken ground on a 7.7-acre, $5.8-million store across the street from Cousins Properties Inc.'s recently completed the Avenue West Cobb retail center in this suburb.
KING OF PRUSSIA, PA-Approximately 25,000 sf of office/flex space at 600 Clark Ave. here is offered at $11.25 per sf. In nearby Malvern, a 12,400-sf industrial/flex property offers a blended rate of $10 per sf.
BOSTON-The last major section of the Big Dig--the massive highway project going on in the heart of the city--is scheduled to open at the end of this week.
CHICAGO-Electrical and telecommunications infrastructure to support Bank of America's trading floor are key factors in keeping the fifth-largest tenant in place at 233 S. Wacker Dr. through 2015.
ORLANDO-It took eight months to do the 57,044-sf deal but through research and networking, Realty Capital senior vice president Thomas E. Hankins met the requirements set by buyer FFVA Mutual Insurance Co. and its affiliate, Florida Fruit & Vegetable Association.
LITTLETON, CO-Southview Place Tower has been acquired by family-owned Hudson Ideal Co., which controls 3,500 apartment units through management and/or ownership. It has been operating since 1947.
BOSTON-Edwards Day puts 2 Liberty Square on the market. The Atlanta-based real estate advisor acquired the 68,000-sf, 11-story building in December, 2000 for $12 million. It is currently fully leased to Putnam Investments.