Adrian Maties
MARKET SNAPSHOT: Cleveland M-F Construction Reaches 5-Year High
More people are moving to the Cleveland metro area, attracted by the steady economic growth and the new development in the city’s downtown, where developers are building everything from hotels to retail and housing.
PN Hoffman Plans to Bring 108 Condos to D.C.’s Southwest Waterfront
PN Hoffman announced on July 9 its plans to redevelop the St. Augustine’s Church site in Washington, D.C.’s Southwest Waterfront neighborhood. The project will deliver a new church facing Maine Avenue, as well as a new condominium building right next to it.
Hartz Mountain Industries Buys Prime Baltimore-Washington Corridor Industrial Asset for $18.7M
Another industrial property has recently changed hands in the Greater Baltimore area. Last week I wrote about several properties which changed hands in the submarkets located to the north of I-95, where the industrial market is performing very well. Now, it’s the Baltimore-Washington Corridor’s turn to make the headlines.
Hines Pays $150M for 6-Building Portfolio as Office Sales Pick Up Steam
Office properties in the Cincinnati area are selling like hot cakes. Multiple properties have changed hands in the region during the first two quarters of the year, as the recovering market attracts more and more investors.
Developers Plan Almost 400 New Apartments for Downtown Cleveland
Although apartment construction in Greater Cleveland has reached a five-year high, it doesn’t seem to want to stop here. Developers continue to announce more and more projects. The two most recent ones are expected to bring almost 400 new units to the city’s downtown area.
Montgomery County Signs Agreement with Washington Property to Develop Silver Spring Homeless Center
Washington Property Company(WPC) and Montgomery County plan to bring a new homeless center to Silver Spring. The Bethesda-based commercial real estate company has recently signed an agreement with the county and expects to break ground on the new facility in about a year.
LSU’s Tiger Stadium Is the Best College Football Stadium in U.S.
LSU’s Tiger Stadium is known throughout the nation as the most difficult place for a visiting team to play. It’s scary, it’s loud and, according to a poll recently conducted by Athlon Sports, it’s also the best college football stadium in the United States, with the best game-day atmosphere.
Marketplace at Tech Center in Newport News Hits 70% Pre-Leased Mark
Marketplace at Tech Center is the retail component of the $250 million Tech Center at Oyster Point mixed-use development, in the heart of Newport News. Although work on the project only started this march, the center is already 70% preleased. Divaris Real Estate, Inc., a Virginia Beach company hired to lease and manage the retail center upon its completion, made the announcement on July 7.
Thrive Senior Living Breaks Ground on The Tribute at Heritage Village
Thrive Senior Living plans to construct several senior living communities in the Washington, D.C. metropolitan area. The Atlanta-based developer is working on the projects together with Harrison Street Real Estate Capital, an industry leader in senior housing investment, and Palomino Capital, a Dallas-based venture specializing in platform-based growth investments. On July 1, it started work on the first property in the portfolio.
Finmarc Management Acquires Two-Building, 150,000-SF Office Portfolio in Alexandria for $31.5M
Finmarc Management, Inc. continues its expansion in Northern Virginia with the acquisition of a two-building office portfolio in Alexandria. The Bethesda-based commercial real estate company paid $31.5 million to buy Waterfront Center I and II from Gates Hudson.