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Blackstone eyeing $75M sale of Ill. office complex; Atlanta asset sells for $73M


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Blackstone eyeing $75M sale of Ill. office complex; Atlanta asset sells for $73M

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

* Private equity giant Blackstone Group LP is looking to sell the O'Hare International Center office complex at 10255 and 10275 W. Higgins Road in Rosemont, Ill., for roughly $75 million, Crain's Chicago Business reported, citing an unnamed source.

* A joint venture between diversified property company Wilkinson Corp. and Torchlight Investors LLC purchased the 431-unit 32 Hundred Lenox multifamily community in the Buckhead area of Atlanta from Elite Street Capital for $72.5 million, the Atlanta Business Chronicle reported.

* Regional mall landlord Simon Property Group Inc. is planning to expand the Regal Cinemas theater at The Falls open-air shopping mall in southern Miami-Dade County, Fla., to 58,020 square feet with 16 screens from 39,786 square feet with 12 screens, the South Florida Business Journal reported, citing an April pre-application filing with county officials.

* CCP Commercial Real Estate purchased a 97%-leased, five-building office-flex portfolio totaling 413,000 square feet in the Airport North and the Metro-Center submarkets in Nashville, Tenn., for $41.2 million.

* Principal investment organization FPA Multifamily sold the six-story Helix apartment community in Glendale, Colo., to property management company Laramar Group for $22.9 million, the Denver Business Journal reported, citing Arapahoe County public records.

* Real estate developer Ratkovich Co. said public relations and marketing company Edelman signed a five-year lease extension for its 30,500-square-foot space at its 31-story, 493,000-square-foot office tower at 5900 Wilshire Blvd. in Los Angeles, the Los Angeles Business Journal reported.