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AVON, MA-Exel Logistics Inc., a global transportation company, leases 55,431 sf of industrial space at 57 Littlefield St. The deal is indicative of a market that is experiencing some vacancies but generally in older space.
SHORT HILLS, NJ-The company will shift its offices currently located in Iselin, NJ to just over 14,000 sf at the newly repositioned 101 JFK Parkway within Reckson Office Center.
LAFAYETTE, LA-With the existing credit enhancement expiring, the owner of the 300-unit Emberwood Apartments here secures a new loan through Fannie Mae's floating rate credit enhancement program for tax-exempt and taxable bonds.
ORLANDO-Wells Real Estate LP Fund XIII and Fund XIV of Atlanta jointly pay the Alter Group of Chicago $11.7 million, or $142.37 per sf, for two one-year-old, 100%-leased assets totaling 82,175 sf in the 400-acre Quadrangle Corporate Center adjacent to the University of Central Florida.
FORT LAUDERDALE, FL-Bank of America, represented by Tom Streit of Akerman Senterfitt, is the lead bank in the syndicated loan. The luxury waterfront condominium project, which will feature two 22-story towers, a seven-story parking garage and a common area, recently broke ground here on the New River.
NEW YORK CITY-The road show has begun on the first floating rate securitization co-sold by JPM and CIBC. The pool is made up of some 15 mortgages, including 277 Park Ave. and a mix of other office, hotel, retail, multifamily and manufactured housing assets.
DALLAS-Neiman Marcus exchanges space in another Pinnacle Park development for 202,500 sf in the recently built Pinnacle Park West I to double the size of its catalogue operation. A 90% tax abatement from the city solidified the transaction.
LONDON-Punch Taverns has agreed to pay pounds 1,193 million ($2 billion) for the Pubmaster portfolio of over 3,110 leased and tenanted pubs. The deals brings the Punch portfolio to over 7,400 pubs.
TEMPE, AZ-An 11.2-acre parcel near the junction of the Loops 101 and 202 will be developed into a 95,000-sf distribution center for Federal Express next year. The Tempe site changed hands in a $4.4 million transaction.