Adrian Maties
WholeLife Cos. Buys Land for Premier Active Adult Community in Cibolo Canyons
WholeLife Companies is one step closer to starting construction on its planned $55 million active adult living community in Cibolo Canyons. On December 17, the developer announced it completed the acquisition of a 32-acre parcel of land just across the street from the entrance to the J.W. Marriott Hill Country Resort and Spa and the two PGA Tournament Players Club golf courses. It will be the future home of The WholeLife Traditions community.
Investor Duo Buys Former SuperValu Warehouse in Xenia
Developers Stuart Lichter of Industrial Real Estate Group and Chris Semarjian of Industrial Commerce Limited have teamed up to acquire, develop and manage commercial and industrial real estate throughout the United States and are well-known for their ability to purchase large scale facilities and repurpose them for new tenants. This month, the duo has acquired the former SuperValu Warehouse in Xenia.
Wood Partners Starts Work on $60M Apartment Project in Germantown
A new apartment community is coming to Germantown, one of the fastest-growing jurisdictions in Maryland. Wood Partners, a national real estate company, has recently broken ground on Alta Liberty Mill, a LEED-certified midrise complex located just across from the Germantown MARC commuter rail station.
Brandywine Realty Trust Buys Austin’s Four Points Centre
Brandywine Realty Trust recently paid $47.3 million to buy Four Points Centre and related land parcels in Austin. The acquisition was announced on December 20. At the same time, Brandywine, one of the largest, publicly traded, full-service, integrated real estate companies in the United States, also announced it purchased the remaining common ownership interest in One and Two Commerce Square, in Philadelphia’s Central Business District, for $331.8 million.
L3C Capital Partners Selects Village Green to Manage The Munsey in Downtown Baltimore
Baltimore’s Munsey Building was recently acquired by L3C Capital Partners LLC. According to The Baltimore Business Journal, the New York-based investment company paid $18.35 million for the building. Now, the new owner has selected Village Green, a Detroit-based apartment manager and owner, to manage the historic community
Arhaus Furniture to Move 230 Employees to New Corporate HQ in Boston Heights
Arhaus Furniture, one of the fastest growing furniture retailers in the United States, has announced it plans to build a new, $43 million corporate headquarters and distribution center in the Village of Boston Heights. Construction is slated to start in March 2014. Arhaus Furniture hopes to move into the new building by April 2015.
Cincinnati’s Garfield Suites Hotel Changes Hands
CBRE Hotels has announced last week the sale of Cincinnati’s Garfield Suites Hotel. Cincinnati Lodging Associates, a joint venture of Sun Development, Hotel Capital and Silver Rock, it the property’s new owner. It plans to convert the all-suite hotel into a DoubleTree Suites.
Terreno Realty Buys Lanham, MD, Industrial Building for $5.6M
Terreno Realty Corporation has recently announced the acquisition of a new industrial property located in Prince George’s County, Maryland. The deal was closed on December 11, 2013. San Francisco-based Terreno Realty purchased the property for approximately $5.6 million. According to PropertyShark.com, the total market value of the property is $7 million.
T. Rowe Price Renews Lease at 100 East Pratt Street, Keeps 1,300 Jobs in Downtown Baltimore
Good news for downtown Baltimore. After several months of uncertainty, T. Rowe Price Group, Inc. announced it has renewed its lease at 100 East Pratt Street and that it won’t be moving its headquarters to a different location. This means the company’s nearly 1,300 employees will be staying put.
Team Gemini Breaks Ground on $420M Industrial/Research Project in Grove City
On Thursday, December 12, Team Gemini held a groundbreaking ceremony for the project at the intersection of Gateway West Drive and Haughn Road in Grove City. It was attended by company and government officials, as well as many others.