Parkway Properties has acquired a Miami office building for $145.8 million, or $422 per square foot. The Courvoisier Centre is a 346,000-square-foot, Class A, two-building complex that is 83.4% occupied.
Mack-Cali Realty has finalized the sale of 15 commercial office properties and three land parcels in suburban Philadelphia for $233 million. The buyer is a joint venture led by Keystone Property Group and the portfolio totals 1.7 million square feet.
Phillips Edison-ARC Shopping Center REIT has acquired South Oaks Plaza shopping center in the St. Louis area. It paid $9.5 million for the 112,300-square-foot property, which is anchored by Shop 'n Save, Walgreen and a Michaels crafts store.
Kimco Realty continues to sell off assets from its Latin American portfolio. Its most recent disposition was a four-property retail portfolio in Mexico, which it sold for $92 million. The REIT is overhauling its portfolio with an eye on bolstering its core holdings.