Office

Times Square tower sold to Zar Group for $204M

Craine's New York - June 1 The Zar Group has purchased 1450 Broadway from a partnership of The Chetrit Group, The Moinian Group and Edward J. Minskoff Equities for $204 million. The 42-story Times Square office tower, located at the corner of 41st Street and Broadway. The 400,200-square-foot tower has a 14% vacancy rate, with tenants that include high-end fashion companies such as BCBG and Iconix Brand Group.

Broadreach Capital sells BT Infonet Headquarters in El Segundo for $51.2M

PR Log - May 31

Broadreach Capital Partners has sold the 157,000 square-foot office building in El Segundo, which serves as the North American corporate headquarters for BT Infonet, to GLL Properties, Inc. for $51.2 million. The BT Infonet headquarters building was one of the first of a new generation of high technology buildings when it was built in 2000 featuring redundant back-up systems; raised access flooring to contain more than 200 miles of cable.