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BIG DEALS!

WASHINGTON DC 05.08.2017

MONTGOMERY COUNTY STATE OF THE MARKET

Featuring an Interview of Marriott CEO Arne Sorenson

Arne Sorenson -- Marriott International
Mike Gill -- The State of Maryland
Barry Glassman -- Glassman Wealth Services
BIG DEALS!
BIG DEALS!
A week after Blackstone Group purchased an office condo at the Times Square Building for $160M, it’s back in the news and a few blocks away—this time, an affiliate of the investment firm bought a senior loan and mezz loan secured by the leasehold interest of 1140 Avenue of the Americas for $98.3M. HFF’s Andrew Scandalios,Whitney Wilcox, and Jeffrey Julien repped the seller, international commercial bank Landesbank Baden-Württemberg. The 22-story office building was recently renovated.
299 Jefferson Rd in Parsippany, NJ
Across the Hudson, specialty chemicals manufacturer Evonik Degussa Corp inked a lease for the entire 151k SF building at 299 Jefferson Rd in Parsippany, which will serve as the company’s North American HQ. Vision Equities brokered the deal on behalf of owner Grosvenor Investment Management and together with GIM is in the process of renovating the building. Upgrades will include an updated atrium lobby and cafe, new fitness center, updated restrooms, and roof replacement.