Archive for the ‘Business’ Category

USAA Real Estate buys I-85 Distribution Center

Source: The Business Journals USAA Real Estate Co. purchased a 744,000-square-foot warehouse in Union City, Ga. Financial terms of the transaction were not disclosed. The property, known as I-85 Distribution Center, is nine miles from Hartsfield-Jackson Atlanta International Airport. Ashley Furniture HomeStore and the American Red Cross are the warehouse’s anchor tenants. Read full story

CB Developers to pay $25M for site next to Murray Hill project

Source: The Real Deal Charles Blaichman’s CB Developers is in contract to acquire three adjacent five-story buildings for $25.2 million, or $420 per square foot, The Real Deal has learned. The rental buildings at 587-591 Third Avenue, near 39th Street, offer a combined 60,000 buildable square feet. They sit next door to an 18-story, 91-unit [...]

Former Helmsley Building could hit market for $1.5B

Source: Crain’s New York Business The ornately topped office building that boldly straddles Park Avenue and was once one of the crown jewels of the portfolio of New York’s most famous landlord may be up for grabs. Sources say that 230 Park Ave.—whose glistening crown, set alight at night by high-tech, multi-color LEDs, makes it [...]

Warner Music boss scores big with $35M Fifth Avenue PH sale

Source: The Real Deal Warner Music Group CEO Stephen Cooper netted a $15 million profit on the sale of his Fifth Avenue penthouse, according to public records. Cooper sold the duplex apartment at 1136 Fifth Avenue for $35 million. The sale, which hit public records on Sunday, was $5 million above his asking price of [...]