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Hearn, partner sell Indianapolis tower for $70M; Mass. asset trades for $53M

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Hearn, partner sell Indianapolis tower for $70M; Mass. asset trades for $53M

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

* Commercial real estate owner and operator The Hearn Co. Inc. and equity partner CrossHarbor Capital Partners LLC sold the 28-story BMO Plaza office tower at 135 N. Pennsylvania St. in downtown Indianapolis to Redico LLC and an affiliate of real estate developer TSG Group for $70 million, the Indianapolis Business Journal reported.

* National Development LLC and private equity real estate investment firm Charles River Realty Investors LLC sold a 208,134-square-foot, 100%-leased office asset at 101 Station Dr. in Westwood, Mass., to AEW Capital Management LP for $53.1 million.

* Technology and services company International Business Machines Corp. sold 18 land parcels with 34 buildings on its roughly 500-acre campus at 3605 N. U.S. 52 in Rochester, Minn., to property developer Industrial Realty Group LLC for $33.9 million, the Post Bulletin reported, citing state and county records.

* Industrial real estate investment trust Terreno Realty Corp. acquired Bulova's three-acre corporate campus at One Bulova Ave. in New York City for $25.2 million. The campus consists of an 83,000-square-foot, high-bay warehouse and two surface parking lots totaling roughly 91,000 square feet.

* Patchwork Farms PB LLC paid approximately $22.4 million to acquire a recently completed retail property at 3066 Healthy Way in Birmingham, Ala., from Patchwork Retail Venture LLC, the Birmingham Business Journal reported, citing public records.

* An affiliate of shopping center REIT DDR Corp. sold the 64,260-square-foot Paraiso Plaza shopping center at 3339 W. 80th St. in Hialeah, Fla., to grocer and existing tenant Publix Super Markets for $15.7 million, The Real Deal reported, citing property records.

Additional coverage

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