The following is a selection of media placements for Great Ink clients and a summary of each.
Client
Waterton
Date
January 9, 2019
Apartment portfolio spanning from Raleigh to Charlotte sells for $169M
By Ben Graham
summary
Waterton, a Chicago-based real estate investment firm, acquired an apartment portfolio that includes 1,148 units across four complexes in Raleigh, Charlotte and Cary, North Carolina. They include Atria at Crabtree Valley in Raleigh, Audubon Parc in Cary, and Ashford Green and the Retreat at McAlpine Creek – both in Charlotte. The firm plans upgrades totaling between $20-$30 million that will provide more returns in the future. Waterton purchased the multifamily complexes for $169 million from an investment group led by the Bainbridge Companies.
Client
CBRE New Jersey
Date
January 8, 2019
CBRE Negotiates $13.3 million sale of office building in Springfield, NJ
By David Cohen
summary
The CBRE team of Elli Klapper, Charles Berger and Mark Silverman represented the seller of 966 South Springfield Avenue in New Jersey in the $13.3 million sale. The 60,000 SF property is the HQ for the watch and jewelry divisions of luxury brand of LVMH Moët Hennessy Louis Vuitton SE, a French multinational luxury goods conglomerate headquartered in Paris.
Client
Savanna
Date
January 8, 2019
Under Construction: 31-00 47th Avenue, Long Island City
By Rebecca Baird-Remba
summary
The Falchi Building at 31-00 47th Avenue in Long Island City is featured in the Commercial Observer‘s Under Construction column. It showcases the $20 million renovation of the infrastructure and systems by the owner, Savanna, which purchased the property in 2016 from Jamestown. The Falchi Building was built in 1922 as a warehouse for the Gimbel’s department store, and benefits from a large floor plate and expansive windows. Current tenants at the 736,000 SF building include Uber, Lyft and the NYC Taxi and Limo Commission. Food vendors like Juice Press are in the lobby. Savanna is marketing 150,000 SF of office space.
Client
GFP Real Estate
Date
January 7, 2019
GFP Real Estate has big plans and a tenant to match for FiDi office tower
By Rich Bockmann
summary
GFP Real Estate purchased the 900,000 SF 7 Hanover Square in FiDi for about $300 million about a year ago. The real estate firm is also putting $250 million into the modernization of the building and welcomed the building’s first tenant. NYC Health and Hospitals signed a 527,000 SF lease at the property, which GFP is rebranding as 50 Water Street. NYC Health and Hospitals will consolidate its 2,600 employees working in six offices around the five boroughs. The company is a nonprofit that operates the city’s public hospitals and health care facilities.
Client
The Praedium Group
Date
January 7, 2019
Arlington apartments sell to New York investment company
By Zack Maxwell
summary
The Praedium Group acquired the 353-unit Arlington Commons apartments in North Arlington, Texas from The Nehemia Company for an undisclosed price. The company saw a lot of growth potential in Arlington, and the building is still experiencing strong leasing activity.
Client
Avison Young
Date
January 4, 2019
Avison Young: Security firm sells HQ, relocates along Route 46
By Joshua Burd
summary
Autoclear, a security inspection systems firm sold its 42,000 SF Fairfield, NJ headquarters at 2 Gardner Road and relocated to 22,000 SF at 10A Bloomfield Avenue in Pine Brook. Matthew C. Turse, Tim J. Cardigan and John Recchia of Avison Young represented Autoclear in its sale to Third Wayne LLC, as well as in its relocation to Pine Brook.
Client
Waterton
Date
January 4, 2019
2019 Apartment Outlook
By Chris Wood
summary
Client
Simone Development Companies
Date
January 3, 2019
Deals bring Simone Development Cos. Hackensack property to near full
By Linda Lindner
summary
Two new medical deals at 385 Prospect Avenue in Hackensack, NJ bring the property up to more than 90% leased, according to James MacDonald of Simone Metro Properties who arranged the leases. Tenants who have taken occupancy at the property include NJ Imaging Network, Metro Vein, Garden State Dental and Quest Diagnosis, as well as Hackensack University Medical Center. Simone took ownership in 2017 and underwent a multi-million dollar renovation.
Client
CBRE
Date
January 3, 2019
The surge in online-shopping returns has boosted the warehouse sector
By Diana Olick
summary
Spencer Levy, Chairman of Americas Research at CBRE appears on CNBC’s Nightly Business Report with Diana Olick on January 3. He talks about reverse logistics, which is now the number one new user of warehouse space, occupying 700 million nationally. Reverse logistics is a term for the “hangover” of returns that come after the holidays and how it’s handled. The warehouse space provides an area for retailers to sort through the merchandise and make plans for the best way to manage the returns. Levy predicts the demand for warehouse space for reverse logistics will increase during 2019.