Anca Gagiuc
Anca Gagiuc brings more than a decade of experience within the real estate industry. She is a senior associate editor with Commercial Property Executive and Multi-Housing News who also writes monthly multifamily reports at Yardi Matrix. Contact Anca at anca.gagiuc@cpe-mhn.com
Eleven Community to Open this Summer, Pre-leasing Underway
Located in one of Forbes’ “hippest Neighborhoods” in the heart of East Austin, the Eleven apartment community has begun pre-leasing on April 1, 2013 in the Haehnel Building on East 11th Street. It will be ready to receive residents this summer.
Downtown Project Buys Gold Spike; Redevelopment Plans Coming Up
The Gold Spike has been a staple of the downtown area since its opening in 1976. The boutique hotel originally opened as the Rendezvous, offering guests 112 rooms over seven floors, as well as a total gaming space of around 5,800 square feet. The property first traded hands in 1983 when casino mogul Jackie Gaughan bought the property that had been closed down for a number of months. The real estate investor then sold the property to Barrick Gaming in 2002, as part of a three-property deal. After a string of deals, the property became part of The Siegel Group Nevada’s portfolio in 2008, following a deal worth $21 million.
Growing Commercial Bank Signs Two New Washington Leases
The appeal of the Northwest’s growing economy was once again highlighted as emerging financial institution Opus Bank has announced that it is in contract for two spaces in the state of Washington where it will begin operations later this year. The bank has chosen locations in Seattle and Tacoma as its ice breakers for the region, and with strong growth driving its current activity, it won’t be surprising if the entity will go on to sign a few more leases in the area.
Sports-Oriented M-U Development in Berlin to Reshape Urban Hubs
As the European urban development landscape is changing and sustainability is now a major factor, developer Moritz Gruppe has come up with a new vision for a large sports-themed mixed-use project in Berlin.
The Desmond will Join Creative Office Building Inventory in L.A.’s South Park District
The property features 15,600 square foot floor plates throughout, as well as an adjacent surface parking lot which the new owner will use to support the building’s office and retail residents. Renovations will deal with building mechanicals, new windows, brand new interior finishes while keeping the attractive sense of spaciousness and rooftop views. The location is in close proximity to the city’s Metro rail system, Downtown Dash Bus station and major roadways. Additionally, local authorities are pondering restoring the Downtown Streetcar service which would have a stop just next to The Desmond. Leasing operations for the building are already underway
Hsieh’s Downtown Project Adds Vintage Western Hotel to Portfolio for $14M
Spearheaded by Zappos CEO Tony Hsieh, Las Vegas’ Downtown Project organization has taken an important step forward in its ongoing initiative to reclaim some of the appeal of the city’s central area. The online retailing mogul has voiced his love for Sin City’s downtown area on more than one occasion, and has offered his support and funds to a number of causes meant to restore the glow of the area surrounding Fremont Street. His belief in old Vegas architecture and the charm of the era leading up to the megaresorts of the Strip has produced yet another important real estate deal.
Summer Kickoff Eyed for Geneva Steel Site Redevelopment
One of Utah’s most exciting ongoing projects is the one that is about to take shape at the site of the former Geneva Steel site in Vineyard, Utah County. Developer Anderson Geneva has had a number of different ideas for the 100-acre site, the first of which was to build a new sports arena for the state’s foremost soccer team, Real Salt Lake. However, after the collapse of that initiative a new plan followed, one that would call for a massive mixed-use community to rise where one of the largest steel mills in the country once stood.
$10B Development Project in Ghana to Feature Tallest Building in Africa
One of the most ambitious development initiatives on the African continent, Hope City Development, recently held a sod cutting ceremony, in the presence of a number of state officials and business partners of the massive project.
Inland American Lodging Grabs Andaz San Diego for $53M
After its completion, the building was known as the Ivy Hotel from 2007 to 2010 when it was rebranded as Andaz San Diego. American Lodging Advisor, Inc., through the voice of its President and CEO, Marcel Verbaas, manifested its excitement regarding the newly acquired asset by noting: “This purchase aligns with our objective to acquire Luxury, Upper-Upscale and urban Upscale hotels in the top 25 lodging markets.”
Moritz Gruppe Designs Sports-Themed M-U Project
Developer Moritz Gruppe has come up with a new vision for a large sports-themed mixed-use project. Based on a design by well-known architectural firm LAVA, THE SQUARE3 will focus on three elements: life, nature and sport.