Vantage Lands $3B Green Loan for North American Expansion
Commercial Property Executive
by Tudor Scolca
10m ago
Vantage Data Centers has obtained a $3 billion green loan for the expansion of its North American footprint. A bank syndicate led by Wells Fargo Securities LLC, along with joint bookrunners TD Securities, Truist Securities Inc. and Scotiabank, provided the revolving credit facility. Vantage’s upcoming VA3 campus in Ashburn, Va., will encompass 2.3 million square feet and provide 288 megawatts upon full build-out. With rack densities of up to 300 watts per square foot, it will be able to handle AI deployments and other high-intensity applications. Rendering courtesy of Vantage Data Centers Vant ..read more
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Suburban Chicago MOB Breaks Ground
Commercial Property Executive
by Madalina Pojoga
10m ago
The medical center is taking shape some 30 miles from downtown Chicago. Image courtesy of Skender Ann & Robert H. Lurie Children’s Hospital of Chicago has broken ground on a 75,000-square-foot outpatient facility in Schaumburg, Ill. The Lurie Children’s Schaumburg Outpatient, Primary Care and Infusion Center will expand the medical provider’s footprint in Chicago’s northwest suburbs. The development team includes Skender as general contractor, HKS as architect, IMEG Corp. as the structural and mechanical engineers and V3 Cos. as civil engineers. The medical office building is slated for co ..read more
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Seagis Secures $81M Refi for New Jersey Warehouse
Commercial Property Executive
by Gail Kalinoski
2h ago
Seagis Property Group has refinanced a newly completed 224,900-square-foot Class A warehouse at 100 Frontage Road in Newark, N.J., with an $81 million, five-year, interest-only loan from a life insurance company. Seagis Property Group has refinanced a newly completed Class A warehouse at 100 Frontage Road in Newark, N.J. Image courtesy of JLL Capital Markets The build-to-suit, state-of-the-art distribution center is entirely leased to United Airlines and located just outside Newark Liberty International Airport. Completed in June 2023, the warehouse has 40-foot clear heights, 41 dock-high door ..read more
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Monday Properties Inks 24 KSF Office Lease
Commercial Property Executive
by Radu Corfus
2h ago
The office tower at 1812 N. Moore St. rises 35 stories. Image courtesy of CommercialEdge Monday Properties has secured a 24,023-square-foot office lease at 1812 North Moore in Arlington, Va., near Washington, D.C. The tenant, Graham Holdings Co., will fully occupy the building’s 21st floor for the next 15 years. JLL brokered the transaction. The tenant is relocating its headquarters from the Arlington Tower at 1300 17th St. N., as reported by ARL Now. SmithGroup is designing Graham Holdings’ new space and HITT Contracting will handle the build-out. Rising 35 stories, the tower at 1812 N. Moore ..read more
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Greystar Delivers 1st Arizona Industrial Project
Commercial Property Executive
by Diana Firtea
23h ago
Greystar has completed Gateway Grand Phase I, a 1 million-square-foot industrial development in Mesa, Ariz. The two-building project marks the company’s first industrial delivery in the state. The Gateway Grand project is move-in ready for robust aerospace and advanced manufacturing users. Image courtesy of Greystar The international development and management company broke ground on the Class A industrial development back in 2022. Derek Builders serves as the project’s general contractor, along with Deutsch Architecture Group as the main architect. CBRE’s Jackie Orcutt, Kevin Cosca, Pete ..read more
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Lionstone Lands 164 KSF Tenant in Atlanta
Commercial Property Executive
by Vicentiu Fusea
1d ago
The LEED Gold-certified office building is in the West Atlanta submarket. Image courtesy of Cushman & Wakefield Lionstone Investments has signed a 164,221-square-foot lease at 271 17th St., its Atlanta office building totaling more than 540,000 square feet. This deal marks the largest office lease in the metro this year so far. The new tenant, Piedmont Healthcare Inc., will consolidate three of its offices at the 25-story building. The move also marks a downsize for the hospital system, which will reduce its administrative footprint by more than 50 percent, according to Bisnow. Piedmont’s ..read more
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Kroger, Albertsons Unveil Updated $2.9B Divestiture Plan
Commercial Property Executive
by Scott Baltic
1d ago
In response to concerns raised by federal and state antitrust regulators, The Kroger Co. and Albertsons Cos. Inc. have amended their definitive agreement with C&S Wholesale Grocers LLC for the sale of assets in connection with their proposed merger. Last fall, Sterling Organization acquired Marketplace at Buckhead, an Atlanta shopping center anchored by a Kroger grocery store. Image courtesy of Sterling Organization The merger was first announced in October 2022, and the initial divestiture package (which this amended package modifies) was announced in September 2023. Subject to customary ..read more
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Portal Warehousing CEO on the Expansion of Co-Warehousing Solutions
Commercial Property Executive
by Tudor Scolca
1d ago
Morrison told CPE that the company’s new facilities reach full occupancy quickly after they are completed, indicating a high level of demand for co-warehousing solutions. Image courtesy of Portal Warehousing Co-warehousing and flexible warehousing solutions continue their momentum in the larger industrial sector. Operators and providers of these services and spaces typically aim for clients that have changing needs in terms of scaling, and are looking to avoid the drawbacks of a long lease term. In today’s economic context, co-warehousing can help small businesses not only survive, but also th ..read more
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