Allison Landa
Suffolk to Commence Building $75M Garage Facilities at New Marlins Stadium
Thanks to the City of Miami’s recent approval of the sale of $92 million in bonds, construction of parking facilities for the new $500 million Florida Marlins Stadium moves forward with Boston-based Suffolk Construction tapped by the city to oversee the $75 million project.
Economy Watch: Buffett Says Don’t Worry Too Much
What does the Oracle of Omaha now have to say about the housing market? “Within a year or so residential housing problems should largely be behind us, the exceptions being only high-value houses and those in certain localities where overbuilding was particularly egregious,” Warren Buffett noted in his letter to Bershire Hathaway shareholders on Friday.
Public Tiff Between Simon and GGP Continues with Statements on New $2.5B Bid
It all seemed to have started out innocently enough, with Indianapolis-headquartered Simon Property Group Inc.’s $10 billion cash offer on February 8 to buy beleaguered Chicago-based General Growth Properties Inc. But now it’s turned into a written war of words.
Healthcare Trust of America Acquires 54,800 SF Medical Office Portfolio for $10.5M
Healthcare Trust of America, Inc., on Thursday announced its acquisition of a Pearland, Tex. medical office portfolio for $10.5 million. The purchase expands the real estate investment trust’s Texas portfolio to more than one million square feet.
Port Authority Awards $542M Contract for WTC Transportation Hub
The Port Authority Board of Commissioners has awarded the largest contract to date — $542 million – to Skanska USA Civil Northeast, Granite Construction Northeast, and Skanska USA Building.
AuctionPoint Embraces Orange County Market
The founders of AuctionPoint, an online auction tool for commercial real estate brokers, believe their program’s performance in Orange County, Calif., portends well for the local market. Since its inception in fall 2009, AuctionPoint has been involved in the closure of ten Orange County commercial condo deals.
Economy Watch: Apple Sets Retail Sights on China
Reports from Apple Inc.’s annual shareholder meeting in Cupertino, Calif., on Thursday noted some retail expansion news from the leading gadget-creator of our time. Namely, the company plans to open 25 stores in China over the next two years; apparently Steve Jobs himself mentioned the plans.
RCA Report: Investment Market Rebound Already Underway
It comes as no surprise that 2009 was a bad, bad year for property sales across the globe. According to Real Capital Analytics’ new Global Capital Trends report, the volume of commercial property sold last year reached only $381 billion, a staggering 30 percent drop from 2008.
Bankrupt $3B Fontainebleau Las Vegas Project Gets Scooped Up by Icahn for $150M
Despite the fact that the gaming industry in Las Vegas is struggling, Icahn Enterprises L.P.’s acquisition of the Fontainebleau casino and resort project is still quite a deal.
Harrah’s Steps in as New Owner of Planet Hollywood Las Vegas
Planet Hollywood Resort & Casino has come under new ownership now that a subsidiary of Harrah’s Entertainment Inc. has taken over the reins. PHW Las Vegas L.L.C. received approval from the Nevada Gaming Commission to officially own and manage the prominently located Las Vegas Strip property, taking it–and its remaining debt of $554 million–off the hands of previous owners BH/RE L.L.C.