Office

The firm reports it paid $42.85 million for the eight-story, 233,166-square-foot, Class-A office property at 1111 West 22nd St. Located in the East/West submarket, the building is 93% occupied.

The purchase increases Preferred’s multifamily portfolio to 33 multifamily communities across 10 states. The company financed the acquisition utilizing a non-recourse first mortgage loan from MetLife Investment Management on behalf of a client.

With this demand in mind, Lake Washington Partners entered the Southend submarket, which has a different price point compared to the suburban Bellevue submarket along with high-quality labor.

Celebrating its 30th anniversary in 2019, the CREW Network has commemorated the milestone throughout the year and GlobeSt.com looks forward to this year’s convention, which will celebrate the network’s past and hear more about the brand’s future.

Arroyo Energy Investors is moving from The Woodlands to 9,426 square feet on the fourth floor of CityPlace 1, which includes 122,500 square feet of office space and 27,000 square feet of retail.

SJP Properties has secured the firm to lease 47,892 square feet of retail space at 11 Times Square.

CBRE, which brokered the transaction, reports the 75,000-square-foot medical office building was sold by the Eye Institute of New Jersey to a private investor.

Construction will commence immediately on the speculative project with delivery expected in the second quarter of 2020. LPC is constructing two high p facilities totaling 274,855 square feet.