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Boston-based private-equity firm Rockpoint Group acquired the 12-story AT&T Building at 177 E. Colorado Blvd. in Pasadena from Saunders Property Co. for $161.5 million, or about $538 per square foot. The 300,000-square-foot office building, completed in 1973 as the regional headquarters of Pacific Bell, sold for roughly twice the $81 million that Saunders paid AT&T in April 2014. The telecommunications giant leased back 40% of the property and...
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Pension fund advisor TA Realty sold the 10-building Centerpointe La Palma business park at 1-30 Centerpointe Dr. in La Palma, CA for $106.1 million, or about $202 per square foot, to a joint-venture partnership between Greenlaw Partners and Westbrook Partners. The seller acquired a majority of the buildings in September 2008 for approximately $100 million ($219 /SF) from GE Real Estate, according to CoStar data. See CoStar COMPS #1595999. Built...
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It's time to update those contact managers with CoStar's People of Note, reporting news on significant new CRE hires and promotions. This week's issue includes the following markets: Silicon Valley, Houston, Richmond / Hampton Roads, Los Angeles, New York City, San Diego, Atlanta, Dallas / Ft. Worth, Boston, Northern New Jersey, Philadelphia, Chicago, Cincinnati, South Carolina and East Bay. SILICON VALLEY Kelly Joins NKF as Executive Managing...
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Pearl River Mart, once a casualty of skyrocketing retail rents, is planning to open another 3,500 square-foot store at Chelsea Market in Manhattan.
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Ferrero, Italian manufacturer of sweets and chocolates, is setting up an innovation outpost at Cornell University’s technology campus on Roosevelt Island in New York City.
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Businesses are beginning to design offices spaces that are increasing the amount of square footage per employee when shared work settings are taken into account.
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