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Los Angeles building fetches $24M; Firm Capital buys 50% stake in Montreal asset

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Los Angeles building fetches $24M; Firm Capital buys 50% stake in Montreal asset

This feature rounds up recent commercial property news and highlights larger deal coverage already published.

* Christina Development Corp. paid $23.5 million to acquire a two-story, 17,000-square-foot storefront retail and office building at 124-148 N. Larchmont Blvd. in Los Angeles from Charlotte Lipson Trust of Studio City, the Los Angeles Business Journal reported.

* Firm Capital Property Trust acquired 50% interest in a 159,164-square-foot, 100%-leased, single-tenant industrial property in the Mount Royal market in Montreal for about C$11.0 million.

* Wyndham Hotels & Resorts said Seaview, a Dolce Hotel in Galloway, N.J., will undergo a $17 million renovation involving updates to its 296 guest rooms, event spaces, and dining outlets, with completion slated for summer 2019. The hotel's guest rooms and meeting spaces will be closed to visitors during the winter, with reopening scheduled for March 2019.

* Fidelity National Insurance Co. renewed its lease for the 27,996-square-foot 18th floor of SL Green Realty Corp.'s 32-story property at 485 Lexington Ave. in New York City for 10 years, GlobeSt.com reported, citing an unnamed source.

* WeWork Cos. is negotiating a lease at Howard Hughes Corp.'s 66-acre Hughes Landing mixed-use development in The Woodlands, Texas, the Houston Business Journal reported. If a lease agreement is entered into, the coworking company should open in Hughes Landing in about four to five months, the report added, citing Howard Hughes executive Paul Layne.

Additional coverage

Lane Partners, Goldman Sachs planning $1B San Francisco development

Report: Brookfield completes stake purchase in $650M Manhattan, NY, complex

Piedmont Office Realty under contract to sell Calif. building for $160M

Braves, Pollack Shores sell Atlanta apartment building for $156M

Vanbarton Group buys Los Angeles multifamily property for $148M