Adrian Maties
Cincinnati Launches CoreFour Program to Boost Housing Development
The city of Cincinnati is attempting to boost housing in eight of its neighborhoods. Last week, it launched a new pilot program that will help any developer working on homeownership and rental projects.
Macy’s to Close Richmond Heights Store
Macy’s announced last Thursday, January 8, it will close its store in the Richmond Town Center, in Richmond Heights. The decision is just one of a series of initiatives meant to help the company evolve and keep up with the changing face of retail.
District Picks Redbrick LMD-Gragg Cardona Team as Master Developer for Phase 1 of St. Elizabeths East Campus
In one of his final acts as mayor of Washington, D.C., Vincent Gray has selected the team of Redbrick LMD and Gragg Cardona to redevelop the first phase of the historic St. Elizabeths East Campus. The selection represents an important step forward for a project which could help transform one of the poorest sections of the nation’s capital.
Tribune Media Sells 60-acre Property in Port Covington for $46.5M
Tribune Media Company sold a 60-acre property in Port Covington last month, for $46.5 million. The Chicago-based multimedia corporation expects the net proceeds to be approximately $30 million, after the deduction of transaction costs and taxes.
Thalhimer Pays $34M for Chesapeake M-F Complex
The Birches apartment community in Chesapeake stepped into the New Year with a new owner. Harbor Group International sold the property last month, for $34.4 million.
Honeywell Completes $33M Expansion Project in Baton Rouge
Honeywell Performance Materials and Technologies announced last month the completion of a $33 million modernization project to extend the life of its chemical and refrigerant gases manufacturing facility in Baton Rouge.
KBS REIT III Snaps Up Second Northern Virginia Property in a Month
KBS Real Estate Investment Trust III has acquired another property in Northern Virginia. The Newport Beach, Calif.-based real estate investment trust recently said it purchased 100% of the Class A voting units of Clarendon Owners, LLC, the owner and ground lessee of Arlington’s 3003 Washington Boulevard, for $149.1 million plus closing costs. KBS also plans to redeem the 125 outstanding Class B units this month.
GSA Seeks Developers for New FBI HQ
The U.S. General Services Administration is looking for a developer to erect a new headquarters facility for the Federal Bureau of Investigation.
New DC United Stadium to Open in 2017
D.C. is one step closer to getting a new soccer stadium. Last week, the D.C. Council approved the District of Columbia Soccer Stadium Act of 2014 in its second and final vote, green lighting the development of a new 20,000-25,000-seat stadium for D.C. United, in the District’s Buzzard Point neighborhood.
CBRE Global Investors Funds 631-Unit Apartment Community in Metro Area
The Residences at Springfield Station, a Class A apartment community in the Washington, D.C., metro area, is now under new ownership. A fund sponsored by CBRE Global Investors has recently acquired the property for an undisclosed price.