Forestar's board continues to recommend a merger with Starwood Capital Group, while acknowledging that a counter-bid from D.R. Horton Inc. was potentially a “superior proposal.”

Despite the limited availability of available land, there is 7.3 million square feet of industrial development under construction, the highest in the history of the market.

The Attorney General charged that almost immediately after buying the building, “Melamed embarked on a campaign to rid it of rent stabilized tenants by cutting essential services such as heat, performing illegal construction and failing to contain and clean toxic lead dust.”

Phillips Realty Capital secured a $200 million permanent loan for an office tower in Tysons, while in Richmond, the Dori Foods Building has traded for $7.7 million.