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.
Culver City Creative Office Campus Development Breaks Ground
A new Culver City office campus officially broke ground recently when developer Hackman Capital Partners LLC kicked off the construction of its WorkScapes at the Hayden Tract facility. The project includes the renovation and conversion of three different industrial buildings, operation for which the company has also recently secured a senior loan from Deutsche Bank. The space will be turned into creative offices that would match current market standards for facilities in the Westside. Continue reading →
North Financial District Office Building Sold to Multi-Employer Property Trust
475 Sansome is San Francisco’s latest office property to be traded after the Multi-Employer Property Trust and Bentall Kennedy, MEPT’s real estate advisor, acquired the property for an undisclosed amount. The deal for the building located at the corner of Sansome Street and Clay Street in the North Financial District was brokered by representatives from Holiday Fenoglio Fowler’s local office.
Amazon.com-Occupied Office Tower Trades Hands, Expands in Denny Triangle
Amazon.com is the bona fide engine of Seattle’s office market. If evidence of that fact up until this point is still deemed unconvincing, just take a look at the recent Amazon-involved headlines. West 8th, the online giant’s new residence was recently purchased in a deal, which according to public records stood at around $278 million. The entity that acquired the office property is associated with AEW Capital Management, a Boston-based company that deals with institutional and private investment. Continue reading →
Berkeley Center Trades Hands as Downtown May See Development Increase
The complex is made up of a number of buildings located in an area bordered by Shattuck Avenue, Aliston Way and Harold Way, the San Francisco Business Times reports. The former owner is Marin County businessman Roy Nee, who held the property through a private family trust.
Emeryville Public Market Trades Hands, Set for Massive Expansion
The Emeryville Public Market is the latest major San Francisco Bay Area property to trade hands, after former owners TMG Partners and Rockwood Capital announced the sale of the mixed-use asset. The buyer is a partnership between Angelo Gordon and City Center Realty Partners. Financial terms for the acquisition deal were not disclosed, but the investors reportedly paid around $60 to $70 million for the development, according to industry specialists. Holiday Fenoglio Fowler represented the seller in the deal.
Strategic Capital, Compass Development Launch N. Salt Lake City Mixed-Use Project
Set on a parcel originally owned by the Compass Development Group, Eaglewood Village will include office, retail, multi-family and single-family components. Compass sold its stake to Strategic Capital except for the apartment portion. Strategic Capital now owns 17 acres of land that will feature office and retail space, as well as entitlements for 300 residential units.
Cruzan/Monroe, Cigna Buy DiamondView Tower for $121M
In a $121 million deal, Cruzan/Monroe and Cigna Investments Inc. have acquired San Diego’s DiamondView tower. Seller Wereldhave USA was represented by CBRE Inc. The 15-story, 305,255-square-foot building is located at 350 Tenth Ave. and offers views of nearby Petco Park.
Two Years On, $8.5B CityCenter Seeks to Reach its Potential
Two years after opening in the midst of an economic downturn, MGM Grand’s $8.5 billion CityCenter project is still seeking to reach its potential as a game changer for Las Vegas. To begin with, the investment added 5,900 hotel rooms to the city’s inventory at a time when visitors declined 2.85 million over two years, the Las Vegas Sun reports.
Lights, Camera, Action: $40M Production Center Planned
By Alex Girda, Associate Editor Utah’s recently sweetened incentives for movie production are bearing fruit in the form of new development. Woodbury Corp. and Redman Movies and Stories plan to start construction early next year on a $40 million studio production in South Salt Lake. The joint venture will redevelop the 105-year-old Granite High School […]
Henderson Retail Center to Add Cinema, Restaurant Anchors
By Alex Girda, Associate Editor In a bid to step up traffic at Green Valley Town Center in Henderson, American Nevada Co. will unveil an eight-screen, 40,000-square-foot multiplex at the property in October. Galaxy Theatres, the new operator, will fill the void left by a previous operator. The cinema will offer the 118,000-square-foot center a […]