Alex Girda
Alex is a senior editor with Multi-Housing News and Commercial Property Executive who has more than a decade of experience in the industry. Mainly focused on data-driven exploits, he works with Yardi Matrix and CommercialEdge to provide insights into the real estate market.
Seattle’s Tallest Skyscraper Announced; HFF Finances Yakima Valley Retail Properties
As the city skyrockets in terms of development, a big change was recently announced to its skyline. Earlier this week, local developer Greg Smith expressed plans to build the city’s tallest building, setting a new bar for new developments in terms of both height and ambition. According to the Puget Sound Business Journal, should the development come to reality, the process would be time consuming as the necessary design approvals and paperwork would take at least a year.
One Santa Fe Tops Out—Transit-Oriented Community is Just One Year from Completion
One of the most high-profile mixed-use projects in the entire downtown area recently reached an important milestone recently as One Santa Fe topped out. The development constitutes a $160 million investment made by a joint venture between Goldman Sachs Urban Investment Group and McGregor, Cowley and Polis. Construction duties for the project are being carried out by local developer, Bernards.
U. of Utah Breaks Ground on $30M Clinic, its 14th in Salt Lake Valley
Investment opportunities can be found everywhere in the Salt Lake City metropolitan area but, in 2013, a focus on education and healthcare has been noticeable. A number of universities have expanded their facilities in 2013 and the latest institution to do so is the University of Utah. U of U is making a serious investment in the development of the new Midvalley Health Center, a facility that will provide quality dermatology care and ophthalmology services once it is completed.
Medical Development and Investment Growing Profile in San Francisco Bay Area
As 2013 draws to a close, developers and investors are scrambling to get their ventures going before the end of Q4, increased activity is seen in most sectors of the real estate market. The San Francisco Bay Area has seen an escalation in the health care sector with Meridian Property Co. announcing the development of four medical clinics in California, three of which are located near San Francisco. The three facilities are going to be built in Fairfield, Walnut Creek and Modesto, with the fourth one taking shape in Pomona, in the L.A. metro area.
Stadium Project Unveiled for 2022 FIFA World Cup in Qatar
The Qatar 2022 Supreme Committee unveiled the design of the new stadium provided by Zaha Hadid that will be constructed in Al Wakrah, one of the Host Cities of the 2022 FIFA World Cup.
Sears Building in Boyle Heights Trades Hands for $29 Million as New Owner Takes Charge of Redevelopment Hot Spot
One of downtown L.A.’s landmark buildings recently traded hands and is set for a change of direction for its use. The Sears Roebuck & Co building, one of the most high-profile structures in the entire Boyle Heights neighborhood, was purchased by residential developer Izek Shomof for a total fee of approximately $29 million. The building was previously owned by MJW Investments, an entity that has owned the asset for the past nine years. The property was previously the focal point of a massive redevelopment project that has since tanked.
$180 M Office Transaction Announces Hong-Kong Investor Great Eagle Holdings’ Arrival to Bay Area Market
It’s been a fruitful few weeks for the San Francisco office market, and it recently got even better with the completion of a major off-market office deal. Foreign capital has elevated its presence in the area’s investment market recently and with the acquisition of the 123 Mission St. asset, Hong Kong-based investor, Great Eagle Holdings has made quite the splash.
65-Year-Old Downtown Portland Office Asset Trades Hands as Local Vacancies Dwindle
One of Portland’s landmark office properties traded hands this week when a Unico Properties LLC-controlled investment fund paid a hefty $41 million for a downtown asset. The joint venture between Unico and Cigna Realty Investors purchased the Commonwealth Building from seller Commonwealth Acquisition LLC. Unico Properties previously acted as the property’s manager, a position that it will maintain after the transaction.
Ballast Point Brewing Inks 107,000-SF Lease with HG Fenton in Miramar
As the housing market in San Diego is doing better, the city’s industrial market is also seeing awareness brought to it. A major leasing agreement was recently completed for a facility in the Miramar submarket, as local company Ballast Point Brewing and Spirits is set to occupy the commercial property located at 9045 Carroll Way. The value of the agreement stands at around $16 million, making it one of the largest deals of its kind in San Diego this year. The agreement was brokered by Voit Real Estate on behalf of both the tenant and landlord HG Fenton.
CITRA Wins City Approval, Incentives for $71M Downtown Healthcare/Assisted Living Complex
By Alex Girda, Associate Editor As the Downtown Project led by Tony Hsieh gathers momentum, a major healthcare and residential project has reached a major milestone. The Las Vegas City Council recently approved an agreement with developer CITRA Real Estate Capital for Symphony Park, a $71 million skilled nursing and assisted living facility. Located on […]