Commercial Real Estate Direct

The direct office vacancy rate in the Chicago central business district declined in the second quarter for the first time in 26 quarter, according to Transwestern.

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Commercial Real Estate Direct Staff Report An affiliate of Ashley Furniture has paid $33.9 million, or $165.03/sf, for the 205,413-square-foot Bridge Point Tacoma 210 industrial property in Tacoma, Wash. The home furnishing company acquired the property from its developer, Kurv Industrial, the former Bridge Industrial of Chicago, which was represented by JLL Capital Markets. ...

South Florida Business Journal S3 Capital has provided $35 million of financing for the construction of the 162-unit third phase of the Casa Princeton apartment project in Miami. Berkadia arranged the two-year, floating-rate loan. Aconcagua Developers of Coral Gables, Fla., is developing the project on a 2.7-acre site at 12891, 12883, 12875, and 12867 SW […]

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Sym Investments has paid $131 million, or $392,215/unit, for Edison Lofts, a 334-unit apartment property in the New York suburb of West Orange, N.J. The Cedarhurst, N.Y., investor bought the property, at 33 Ashland Ave., from Prism Capital Partners in a deal brokered by Cushman & Wakefield. The brokerage also arranged a $91.7 million loan […]

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Fabrinet, which recently purchased the Stadium Place office and research and development property in Santa Clara, Calif., plans to occupy 57% of the 225,000-square-foot complex. The Bangkok company is a service provider for the manufacturing of optical components used in data centers, among other things. It bought the three-building property, which sits on a 9.6-acre […]