Silverstein Properties and the California State Teachers’ Retirement System (CalSTRS) have joined together to purchase the Manhattan Tower located at 1177 Avenue of the Americas for just over $1 billion.  The 47-story tower consists of just over one million square feet, making the sale about $1000 per square foot. The art deco tower was designed by Swanke [...]

Broadway Partners and Investcorp Real Estate have joined together to purchase 280 Park Avenue Istithmar for $1.28B.  The Property consists of two towers totaling 1,237,000 square feet, making the sale just over $1000 per square foot.  The Dubai based firm Istithmar purchased the towers in June 2006 for $1.2B.  The towers stand tall at 31 and 43 stories, bridged together by a [...]

An unknown wealthy German family purchases the Rookery for $73.4M from Broadway Partners.  The 285,706 square foot building is located at 209 South LaSalle Street, Chicago.  The twelve story building was constructed in 1888 and renovated in 1991.  The building is a National Historical Landmark and has received numerous design awards.  At the time of sale it was reported [...]

Professional Packaging Systems LLP will occupy 104,000 square feet of industrial space in Grand Prairie, Texas.  The property is located at 2002 Avenue R, just south of the North Carrier Parkway and East of the Great Southwest Parkway.  The property is owned by ML Realty Partners headquartered in Addison, Texas.  Professional Packaging Systems is a national discount supplier [...]

Surface Guard Inc. renewed a lease of 107,000SF in Aurora.  The lease is comprised of two buildings, located at 515 and 615 Enterprise Street.  The two buildings are owned and managed by Duke Realty. No information was made available regarding the lease rate. Surface Guard specializes in the manufacturing of surface protection films.   Surface Guard was represented by [...]

Microsoft has just announced the construction of a $500M data center in Northlake, Illinois.  The site is located about 14 miles from downtown Chicago, and plans to be completed around the middle of next year.  The construction of the building is expected to employ upwards of 500 people, the center itself is only expected to employ 75 people after completion.  [...]

A 66,217 square foot office building located at 212 Elm Street sold recently for $19.6M to Upland Capital Corp.  The 4-story building in the Davis Square Neighborhood was owned and managed by Paradigm Properties.  Built in 1989, the building features both covered and surface parking.  At the time of sale the building was 100 percent leased to tenants [...]

A London based firm, Strategic Real Estate Advisors purchased the Fifth Street Towers for $186.4M.  The sale also included the Riverpark building in Norwalk, Conn., for an additional $107.6M.  The final sale price of $294M made this one of the largest U.S. real estate deals in the months.  The 25 and 36 story Fifth Street Towers total [...]

Cardinal Cartridge, Inc signed a lease to occupy 61,500 sqare feet of industrial space at 2100 N. 15th Avenue in Melrose Park, Illinois.  The Melrose Park property is a 300,000 square foot multi-tenant facility. Cardinal Cartridge is currently housed at a 30,000 square foot facility in Elmhurst, Illinois.  They are one of the leading producers of remanufactured [...]

Fingerhut Direct Marketing, Inc leased 93,146 square feet of the Superior Office Center at 6509 Flying Cloud Drive in Eden Prairie.  The 204,000 single-story office complex is located near the intersection of highway 169 and 62. The building is located on a 16 acre parcel known as the Golden Triangle business area that has been redeveloped by [...]