TH Real Estate has acquired a retail condominium on the ground floor of New York’s 10 Madison Square West from Savanna, according to a press release. The fully leased, 20,619-square-foot condo is located on Broadway and 24th Streets, below a Class A luxury residential condo. Todd Rollins, senior director at TH Real Estate, said the firm liked the Flatiron District property’s location near offices, transportation, and retail amenities. Cushman & Wakefield’s Adam Spies, Doug Harmon, Adam Doneger and Josh King arranged the sale.
Hines sells prominent London mixed-use
Hines has sold Cannon Place, a City of London mixed-used property, to Deka Immoblien for $485m, according to a press release. Savills represented Deka in the off-market transaction while CBRE represented Hines. The project, located directly above Cannon Street Station, was developed in partnership with Network Rail and London Underground and completed in 2011. The property includes 418,198 square feet of Class A office space as well as retail space and is fully leased to six office tenants and one retail tenant. The property achieved full occupancy in November, which led Deka to approach Hines about a potential sale.