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Amazon tweaks plans to make HQ2 greener; JV pays $187M for Atlanta property

Commercial real estate

* Amazon.com Inc. said it will modify some parts of its plans for its second headquarters in Arlington County, Va., to reduce its carbon footprint after its CEO Jeff Bezos announced a Climate Pledge on Sept. 19. The e-commerce giant told the Washington Business Journal that its 22-story HQ2 towers at Metropolitan Park will have an electric-powered water heating system instead of the previously planned natural gas one.

* A joint venture of Rubenstein Partners LP and Monarch Alternative Capital LP purchased the Lindbergh Center in Atlanta for $187 million, the Atlanta Business Chronicle reported. The asset includes nearly 1 million square feet of office space and close to 150,000 square feet of retail space.

AT&T Inc. and its Cricket Wireless subsidiary are slated to vacate twin 14-story office towers at the property by the end of 2020, the report noted.

* South Korean hotel company Aju Hotels & Resorts purchased two former Chesapeake Lodging Trust hotels totaling 307 rooms in Midtown Manhattan, N.Y., The Real Deal reported. The company bought 52 W. 36th St. for $85.5 million and 30 W. 31st St. for $51.2 million. The sale was agreed to in late July, and the buyer was not disclosed at the time.

Park Hotels & Resorts Inc., which acquired Chesapeake in September, did not return a request for comment, and Aju could not be reached, the publication noted.

* Alphabet Inc. unit Google LLC closed on a majority stake of the 12-acre Kirkland Urban mixed-use development in downtown Kirkland, Wash., for an undisclosed price, the Puget Sound Business Journal reported, citing confirmation from the buyer. The deal includes 400,000 square feet of office space in addition to retail but did not include two development sites and a 185-unit apartment building, which will be retained by sellers Talon Private Capital LLC, Ryan Cos. and PGIM Inc., the report noted, citing Bill Pollard, a founding principal at Talon.

* ASB Capital Management LLC is looking to sell the 33-story, 610,000-square-foot AT&T Tower in downtown Minneapolis for $135 million, the Minneapolis / St. Paul Business Journal reported, citing unnamed sources. The 84% leased class A office tower at 901 Marquette Ave. was constructed in 1991 by Minneapolis-based Ryan Cos. US Inc. Tenants include Thrivent Financial Corp. and Värde Partners.

* The Rosedale Center mall in Roseville, Minn., will begin a $100 million redevelopment in 2020, the Minneapolis / St. Paul Business Journal reported, citing Jones Lang LaSalle Inc., which manages the property. The initial plans called for the development of The Village, comprising 425 residential units, a boutique hotel and a coworking space, as well as a parking ramp. However, the plans are still being "refined," the publication noted, citing Lisa Crain, the senior general manager of Rosedale Center.

* PPG Development and Premium Capital secured a five-year, $100 million financing to develop the 26-story, 250-unit branded luxury apartment tower at the SLS Resort Residence & Marina Hallandale Beach in Hallandale Beach, Fla., The Real Deal reported. The tower is expected to be completed in the fourth quarter of 2021.

* Greystar hired Cushman & Wakefield to sell The Mile, a 120-unit luxury apartment development at 3622 SW 22nd St. near Coral Gables, Fla., that is expected to sell for about $350,000 per unit, or $42 million, The Real Deal reported, citing Robert Given, the listing broker. The property also includes 3,000 square feet of ground-floor retail space.

The day ahead

Early morning futures indicators pointed to a higher opening for the U.S. market.

In Asia, the Nikkei 225 lifted 0.59% to 21,885.24.

In Europe, around midday, the FTSE 100 fell 0.40% to 7,378.59, and the Euronext 100 was down 0.15% to 1,097.49.

On the macro front

The Redbook Index for retail sales, the Purchasing Managers' Manufacturing Index, Institute For Supply Management manufacturing index and the construction spending report are due out today.

Click here to read about today's financial markets, setting out the factors driving stocks, bonds and currencies around the world ahead of the New York open.

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