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PHOENIX—IO announced a partnership with Carter Validus Mission Critical REIT, Inc. through which CVMC REIT acquired a 100% interest in the real estate containing the IO Phoenix and IO Scottsdale data centers.
PHILADELPHIA—Colliers International reports it has formed the Philadelphia Capital Markets Group and has hired a three-person team to run the operation from offices in Center City and Conshohocken, PA.
PITTSBURGH, PA—A new 20-story, multi-tenant office building in the heart of downtown Pittsburgh is demonstrating the evolution of Urban Genius design. Developed for two signature tenants in one distinctive building, 350 Fifth Avenue is pursuing LEED® Silver Certification and features wide-open floor plans that allow for utilization of almost 100 percent of floor space.
SADDLE BROOK, NJ——The New Jersey industrial market ended the second quarter of 2014 with positive momentum, and increased demand for large blocks of space continued to drive net absorption and kept vacancy rates low, Mindy Lissner and Matthew Corpuel of CBRE Group tell GlobeSt.com exclusively in a preview of their Q2 2014 New Jersey Industrial MarketView.
MIAMI—“This transaction shows that buyers are willing to get creative and take unique risks in order to make deals work in core areas," says Franklin Street's Deme Mekras.
WALTHAM, MA—Boston-based Intercontinental Real Estate Corp. has acquired the Watermill Center office building here from the New Boston Fund Inc. for a reported purchase price of $55 million.
CHATHAM, NJ–Cassidy Turley has negotiated the sale of 4000 Bordentown Ave. in Sayreville, NJ. Formerly home to the Keebler Bakery, the one-story, 900,000 square foot brick building on 50 acres is currently fully occupied with 10 long-term tenants.