Real Estate Rumors: Duke Realty, Banana Republic, Eagle Arc

By Andrew McIntyre
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Law360 (November 30, 2020, 8:48 PM EST) -- Duke Realty Corp. is hoping to build a logistics warehouse close to West Palm Beach, Florida, the South Florida Business Journal reported on Monday. The firm is seeking permission to build 114,021 square feet at 849 N. Benoist Farms Road, a 10-acre site the firm bought earlier this year for $6 million, according to the report.

Banana Republic will close a store on Third Avenue in Manhattan early next year as the retailer continues to feel the effect of COVID-19, The Real Deal reported on Monday. The retailer plans to close its store at 1529 Third Ave. on Jan. 31, 2021, and 62 employees will be out of work as a result of the closure, according to the report.

Eagle Arc Partners has purchased two Palm Beach County, Florida, nursing homes for $36.41 million, the South Florida Business Journal reported on Monday. The deal is for Royal Palm Beach Health and Rehabilitation Center and Ventura Health and Rehabilitation Center, which have a combined 219 beds, and the seller is New York-based nursing home operator Health Care Navigator, according to the report.

--Editing by Janice Carter Brown.

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