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“New ownership has the opportunity to renovate and reposition the property in the near term for additional value creation," says Marcus & Millichap's Stephen Lieberman. "Considering the current and future outlook for office space demand in downtown Evanston, ownership should prove to be successful.”
CT Realty recently sold the newly built 1.12 million-square-foot industrial building, NorCal Logistics Center, to Bentall Kennedy (US) Limited Partnership on behalf of its US core fund for $105.3 million.
TSG Group, a boutique, real estate development and investment company, and Linéaire Group, a Miami-based investment and design firm, acquired the 30,000-square-foot land parcel at 1765 North Miami Ave. for $5.9 million.
The labor shortage in construction is one of the biggest drivers of construction costs, and NKBA is recruiting the next generation to help close the gap.
"Jeremy's reputation as a meticulous professional with keen leadership qualities is well-deserved. With his guidance, the firm will continue our out-of-the-box thinking," says founder Malcolm McLaren.
The joint venture is acquiring a class-A trophy property in Philadelphia's central business district that is one of the city's most iconic office developments.
While the retail pharmacy sector is active with mergers and acquisitions, the chances are pretty good we won't see a Burger King-McDonald's alliance anytime soon.