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PHILADELPHIA, PA—Dramatic port capacity expansion in Asian countries is outstripping the capabilities of US ports like Philadelphia, and having an impact on how industrial properties are developed, according to transportation consultant John Vickerman and Bill Hankowsky, chairman, president and CEO of Liberty Property Trust.
OWINGS MILLS, MD—Inland Real Estate Group, Inc. of Oak Brook, IL has purchased the Giant Foods anchored New Town Village Center here for $31.68 million.
HARRISON, NJ—The Riverbend District, a 35-acre redevelopment project by Advance Realty, is getting an 85,000 square foot, European styled, 150-room AC Hotel by Marriott, Advance says.
Prism Capital Partners has repositioned a former corporate headquarters in Parsippany as a multi-tenant office building, while just down the road, Lee & Associates renewed the Social Security Administration's lease on Route 10. Elsewhere, a couple of NJ firms picked up professional honors. It's all in this week's deal-tracker roundup.
SOUTH SAN FRANCISCO, CA– South San Francisco Business Center located at 800-890 Dubuque Ave., was purchased this week by Buchanan Street Partners, a real estate investment management firm, from an affiliate of Irvine-based LBA Realty.
DALLAS—An interest rate increase is not likely to put a dent in refinancing activity, the Butler Burgher Group CEO tells GlobeSt.com; there's too much maturing debt for that to occur.