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NEWTON, MA-Hospitality Properties Trust purchases 16 Staybridge Suites hotels for $185 million from InterContinental Hotels Group PLC, the brand owner and franchisor of Staybridge Suites.
ORLANDO-Duke Properties Inc. of suburban Winter Park, FL, an industrial-focused firm, and Morbitzer Group, a Maitland, FL-based company specializing in retail management, are merging into Coldwell Banker Commercial NRT in Winter Park.
MIAMI-Principal Global Investors, no stranger to the South Florida retail market, has purchased the 350,000-sf retail plaza here for about $155.14 per sf. The seller was Flagler & 82nd Ltd., a local private partnership.
CARLSTADT, NJ-Wildcat International will take over part of the 102,000 sf of space vacated when GiftCertificates.com moved its fulfillment operations to Omaha last year.
NEW YORK CITY-The city has experienced a 24% jump in office leasing activity and sublease-space reductions this year, bringing confidence back to the market, according to Cushman & Wakefield.
PLYMOUTH MEETING, PA-Michael G. Mortimer, who joined the locally based retail REIT as property accountant in 1995 and was promoted to controller in 1999, has been named VP. He will continue to serve as controller, responsible for SEC compliance.
MCLEAN, VA-Sunrise Senior Living Inc. closes the books on a $311 million sale/long-term manage back transaction with investors counseled by Chicago-headquartered Macquarie Capital Partners LLC.
WUHAN, CHINA-Construction is underway on the 1.3-million-sf Wuhan City Plaza, which will include a nine-story department store; six stories of retail shopping; night clubs, movie theaters and other entertainment venues; numerous restaurants; and four stories of office space.
SCOTTSDALE, AZ-The Chicago-based multifamily owner secures its sixth Valley property as part of a one-day shopping spree that netted 33 deeds in the US. The Arizona purchase is the 644-unit, class A Scottsdale Greens.
DALLAS-The office vacancy, now 26.8%, is the highest in a decade and the 2.5-million-sf backslide on absorption hits a historical high, according to C&W's Q2 report. It's just a temporary "back step" until Corporate America gains some ground, says the team.