Commercial Real Estate
Top stories summarized by our editors
2/20/2017

Parkway is selling a stake in a 52-acre master-planned, mixed-use complex with 11 office buildings in Houston to the Canada Pension Plan Investment Board, which is partnering with TH Real Estate and Silverpeak Real Estate Partners, for $141 million. The transaction, which leaves Parkway with a 51% interest, values the portfolio at $1.045 billion.

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CoStar Group
2/20/2017

Mitsui & Co. is entering the US real estate asset management market via a strategic partnership with CIM Group in which Mitsui acquires a 20% interest in the US urban real estate and infrastructure fund management company. Mitsui will invest a total of $450 million to $550 million in the venture through a newly established special purpose entity.

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CoStar Group
2/20/2017

Alibaba Group has formed a strategic partnership with Chinese retailer Bailian Group, which owns 4,700 outlets in 200 cities, as part of its larger push into the brick-and-mortar side of the business. Their initial steps include cooperating on supply chain technology and integrating Alibaba's payment platform into Bailian Group's membership program.

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Fortune
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Alibaba Group, supply chain
2/20/2017

Wal-Mart has dropped plans to open two stores in Michigan as part of an ongoing effort to streamline operations and invest more in existing stores and e-commerce efforts, said spokeswoman Anne Hatfield. The retailer remodeled 500 stores last year and plans to do 500 more in 2017, and it will also open more employee training academies.

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Wal-Mart
2/20/2017

Hershey Towne Square, in Pennsylvania, will get a new restaurant and retail complex in a redevelopment of a city block at a cost of $28 million. The developers of the "Main on Main" project, RVG Management & Development and TONO Architects, will renovate a two-story, 56,000-square-foot structure and add a three-story, mixed-use building of 21,000-square-foot multitenant retail space and a multilevel parking structure to the area.

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retail space
2/20/2017

Parrish, Fla., will be getting a 300,000-square-foot shopping center built by Benderson Development. The property, which will have a Walmart Supercenter, will offer several sit-down restaurants.

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Benderson Development
2/20/2017

The city of Elyria, Ohio, is looking to sell the 1.1 million-square-foot Midway Mall for redevelopment. A study from Jeff Green Partners and the Hoffman Group recommends demolishing most of the 92-acre site to create a mixed-use shopping center with condos or apartments and reducing the retail space to 530,000 square feet.

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retail space
2/20/2017

An affiliate of Ilbak Investments has purchased 554,973 square feet of the 950,000-square-foot Oviedo Mall, in Orlando, Fla., for $15.3 million. The acquisition includes 54 of the property's 95 acres.

2/17/2017

Ventas is in talks to acquire part or all of Brookdale Senior Living after Blackstone Group lost interest in a similar deal, sources say. It is possible a deal will not happen given the multiple owners of Brookdale's real estate.

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Blackstone Group, Real estate, Ventas
2/17/2017

American Finance Trust and American Realty Capital-Retail Centers of America, two public non-listed REITs that are part of AR Global, received approval from their shareholders for a merger announced last September.