Original Southeast commercial real estate news & events for Atlanta, Carolinas, Memphis, Miami, Nashville, Orlando and Washington D.C. metro area; plus expert insights, commentary and analysis into secondary and tertiary regional and local markets.
The partnership between Potomac, MD-based Foulger-Pratt and Cerberus Capital Management of New York City purchased One Discovery Place from Discovery Communications.
The purchase of RKF, according to Robert K. Futterman, who will serve as chairman of Newmark RKF, Newmark's retail leasing division, will bring Newmark Group “one step closer to creating a platform that will reshape and significantly impact the retail industry.”
Balfour Beatty Communities reports it will perform property management services at Ridgeland Place and will invest in a number of capital improvements at the property.
The sale consists of a contractual sales price of $185 million and the release of $3.5 million in member deposits. The total consideration represents approximately $521,000 per key, RLJ Lodging reports.
Demand from large cloud users resulted in more data center leasing activity in Northern Virginia in the first half of 2018 than the rest of the primary data center markets combined, according to CBRE's latest U.S. Data Center Trends report.