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PHILADELPHIA-Cleveland, OH-based Developers Diversified Realty pays $11.5 million for The State Teachers Retirement System of Ohio's 50%-interest in the 230,000-sf Phase I of Belden Park Crossings shopping center in Canton, OH. DDR now owns both phases, totaling 461,000 sf.
SAN FRANCISCO-While each of 100 cities in the Bay Area is required by state law to provide adequate affordable housing plans, only 12 of them are in compliance with the state guidelines. Surprisingly, despite the high cost of living in San Francisco, this city is considered to have one of the best strategies.
NEW YORK CITY-Year-old investment partnership Miller Global Fund IV, an affiliate of Denver-based Miller Global Properties LLC, buys the 12-story, 174-room hotel from Dallas-based Olympus Real Estate. Miller Global president Jim Miller tells GlobeSt.com that now is a good time to buy into the hotel market in Manhattan.
CHICAGO-Chicago-based Equity Office Properties Trust manages two of the 13 The Office Building of the Year and Earth award winners handed out at the Building Owners and Managers Association's 95th convention, capped by TIAA Realty, Inc's 1.3-million-sf tower winning the award for buildings over 1 million sf.
CHANDLER, AZ-Nearly a year of construction wraps up as the build-to-suit occupant packs up for the move from Tempe to Chandler. Gold Circuit intends to occupy the 83,000-sf building before the end of June.
CHICAGO-The northwest corner of Chicago Avenue and Hudson Street is surrounded by the redevelopment of the former Montgomery Ward's headquarters by Centrurm Properties and Angelo Gordon, who are the sellers of the 33,000-sf site.
NEW YORK CITY-Michael G. Medzigian, former CEO of Lazard Freres, is heading up a new venture. Watermark Capital Partners will focus on value-added investing on behalf of institutional investors and company principals.
DENVER-CarrAmerica Realty Corp.'s three-story building in the campus-like Dry Creek Corporate Center draws the subsidiary of Liberty Mutual Corp. Expansion is possible, the insurance company says.
FARMINGTON HILLS, MI-The unique complex will be an education center for the public about oppression of the Jews during World War II. The building is considered an expansion of a nearby museum.