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Piedmont Strikes Deals to Sell 14 Office Buildings to Pair of Undisclosed Buyers

Piedmont Pointe II in Bethesda, MDAs part of its ongoing strategy to focus on owning Class A office properties in select submarkets primarily within eight major Eastern U.S. office markets, Piedmont Office Realty Trust (NYSE:PDM) said it is in the process of selling 14 office buildings across the country to two different buyers for a total minimum gross sales price of approximately $425.9 million.

The properties total 2.6 million square feet and…

CoStar’s People of Note (Nov. 17) – Levy Lands at Crow, DePizzol Departs for NKF, Burdette Joins JLL…

The following companies announced personnel moves this week: Crow Holdings, Newmark Knight Frank, JLL, Avison Young, Kidder Matthews, Transwestern, JAG and Cushman & Wakefield | Thalhimer.img.pon{display: block; padding: 5px; width: 25%; max-width:180px; max-height: 220px; float: right;} img.pontwo{display: block; padding: 5px; width: 45%; max-width:360px; max-height: 220px; float: right;} img.ponthree{display: block; padding: 5px; width: 60%; max…

TGM Completes Largest Multifamily Sale in Suburban Chicago Since 2014

TGM closed on the largest single multifamily sale in suburban Chicago in three years with the purchase of the 600-unit Crossings at Danada in Wheaton, IL from Atlanta-based independent investment management company, Invesco (NYSE: IVZ).

A fully integrated group of companies that solely focuses on multifamily investments, New York City-based TGM paid a reported $111 million, or approximately $185,000 per unit, to acquire the garden-style apartment…

Hines-Led Venture Plans New 270,000-SF Office Project on Goose Island

Houston-based international real estate firm Hines will partner with Chicago firms Diversified Real Estate Capital and Big Bay Realty to develop a new six-story, 270,000-square-foot office project on Chicago’s Goose Island, a longtime industrial and manufacturing hub being repositioned as a marketable office destination.

In July, the City Council approved the North Branch Framework, a land-use plan for 760 acres along the Chicago River between…

CenterPoint to Develop Additional 560,000 SF of Spec Space in Franklin Park

CenterPoint Properties has disclosed plans to develop two new speculative warehouse facilities totaling roughly 560,000 square feet within the company’s CenterPoint Logistics Center – O’Hare industrial park in Franklin Park, IL.

Located on a 33-acre site along Seymour Ave. directly across from O’Hare International Airport, the 225,891-square-foot CenterPoint O’Hare 1 facility will feature a 32-foot clear height, 50 exterior docks and parking for…

Singerman Real Estate Buys 468,000-SF The Shoppes at Grand Prairie in Peoria

Chicago-based real estate investment firm Singerman Real Estate has struck a deal with Skokie, IL-based Miller Capital Advisory to acquire The Shoppes at Grand Prairie, a 468,127-square-foot lifestyle center located in the southwest Chicago suburb of Peoria, IL.

Cullinan Properties developed The Shoppes at Grand Prairie in 2003 on 30.27 acres at 5201 W. War Memorial Dr. in North Peoria.

Currently 94% leased, the center is home to more than…

QRM Extends, Expands Global HQ to 107,000 SF at 181 Madison

Quantitative Risk Management (QRM) signed a renewal and expansion of its corporate headquarters at 181 W Madison in Chicago’s Central Loop.

The 30-year-old risk management consulting firm has been operating out of the 952,559-square-foot, 50-story Central Loop tower for over half of its lifespan. The company’s decision to renew its lease and expand by an additional 17,700 square feet brings the consulting firm’s total footprint at the tower to…

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