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.
Lincoln, Phoenix Property Company and Paragon Announce Six New Leases for Runway at Playa Vista
A trio of companies that are currently in charge of the development process for a major Los Angeles retail project recently announced a number of new leasing agreements. Lincoln Property Company, Phoenix Property Company and Paragon Commercial Group have agreed terms with six new tenants for space at their Runway at Playa Vista retail center, currently underway. The property’s tenant roster will add the names Chase Bank, Wells Fargo Bank, Lyfe Kitchen, Panini Café, Hopdoddy Burger Bar and Sol Cocina. According to the developers, an influx of fashion retailers signing leases at the Runway is expected in the near future.
CIM Launches Downtown3rd Entertainment District After Makeover
By Alex Girda, Associate Editor Notwithstanding the struggles experienced by the Las Vegas residential market in recent years, the area is getting repeated reminders that its entertainment, hospitality and gaming sectors are bouncing back nicely. A recent case in point is the makeover of Downtown Grand Las Vegas. Renovated and re-branded Downtown3rd by its developer, […]
Two Landmark Buildings are Acquired as CIM Group Expands and Credit Suisse Enters Local Market
As the final weeks of 2013 come to a close, the San Francisco office market seems to be heating up with investors eager to tie up their big money deals before the end of the fourth quarter.
Oceanside M-F Asset Commands Record Per-Unit Price
The San Diego residential market recently recorded a substantial deal when a rental townhouse development was purchased, setting a per-unit record in terms of the fee. The property is located in the Oceanside submarket of San Diego, and formerly owned by ConAm Group, who sold the property to L.A.-based investor, TruAmerica Multifamily, part of a joint venture with Guardian Life Insurance, the San Diego Union-Tribune writes. The total fee that ConAm received for its asset stood at around $81 million, with the per-unit rate at approximately $366,516, a record for Oceanside a record for the submarket.
Wood Partners Debuts Warner Park Luxury Community in San Fernando Valley
Wood Partners has recently opened one of its projects in the Los Angeles area, as the local residential market is about to see a steady flow of new units being added to the market. The developer is now done with its latest San Fernando Valley luxury project, an endeavor that has cost Wood Partners approximately $75 million.
Pacific Northwest College of Art Secures Milestone Loan to Renovate Old Post Office
One of the largest loans ever awarded by the Portland Development Commission found its beneficiary this week when the organization approved a financing package that would help the Pacific Northwest College of Art. The loan totaling $20.3 million in financial aid will help the non-profit institution renovate an aging facility in the North Park Blocks and turn it into a new campus.
Medical Schools Planned for UNLV, UNR; MVP Closes on 5th Building in $55M Office Portfolio
As the Las Vegas market sees signs of improvement in terms of home prices and the office sector is finally showing signs of life, recent headlines were made by the University of Nevada Las Vegas. The institution is reportedly looking to create a new medical school to add to its current offering in southwest Nevada.
New Condo Building in First Hill Announces Construction Start Date; Hospitality Market Continues to Raise Interest
As Seattle’s multifamily market soars with a large number of projects currently going and a backed up development pipeline for the next five years, a new project has popped up in First Hill. Developer Lowe Enterprises Investors has announced the start of construction on its Seneca St. condominium project some time during the middle of 2014.
Seattle Set to Become More Hospitable as Kimpton Announces New Facility; Hedreen Hits Speedbump with Downtown Hotel Project
The Puget Sound area has been thriving in terms of new developments, due to massive increases in office space in the Denny Triangle where Amazon is driving growth, as well as the rise of South Lake Union as one of the hottest development spots in the entire Pacific Northwest. Now, with office projects taking off left and right, and the multifamily development pipeline ready to go until 2015 and beyond, it’s now another sector’s turn to take the spotlight. Two new hospitality projects were announced recently with an aging property in Belltown ready to be turned into a high-end property, while a brand new project will take shape in Seattle’s downtown area.
Coldwell Banker Commercial Principals Acquire, Re-Brand Salt Lake City Office
The Salt Lake City office of Coldwell Banker Commercial was recently acquired by a group of private investors from NRT LLC. The buying entity, consisting of real estate agents Brandon Fugal, Tim Simonsen and Stuart Thain, has also announced that the newly formed company will also enlist Lew Cramer, the founder and chief executive officer of the World Trade Center Utah, as its CEO.