Liviu Oltean
Downtown Memphis Commission Set to Review Two New PILOTs
Downtown Memphis Commission’s agenda is filling up seeing as they will have to decide on the 11th of November on two new PILOTs. Filament, LLC, the real estate arm of architecture firm Archimania applied for a PILOT for the development of a new, mixed-use project at 705 S. Main Street, while Cendown, a limited partnership with an entity controlled by former CBRE Memphis CEO, Earl Blankenship, applied for a PILOT for the redevelopment of three buildings at 77-91 South Second Street.
EDENS to Buy AmREIT for $763 Million
At the Urban Land Institute’s Fall Meeting in New York City, Houston was declared the number one real estate market in the US. As revealed by ULI and PwC research, 2015 will be a big year for the Bayou City, yet, we don’t have to wait for next year to notice that big changes are already close at hand!
Cowboys, Omni Team Up to Develop 300-Key Hotel in Frisco
Omni Hotels & Resorts has teamed up with the Dallas Cowboys for the development of a new hotel in Frisco. To be located at the future site of the Cowboys World Headquarters, the Omni Frisco Hotel will feature 300 guest rooms, a meeting space, a ballroom and an indoor pool deck.
Main Street Apartment Partners Propose 144-Space Parking Lot Adjacent to Hotel Chisca
Main Street Apartment Partners, LLC, the developers behind the Hotel Chisca project, will present on the 5th of November a proposal for the development of a parking lot to the Downtown Memphis Commission. If approved, the parking lot will occupy a currently vacant lot, just east of the Hotel Chisca. The site is bounded by Dr. M. L. King Jr. Avenue to the north; Second Street to the east; Pontotoc Avenue to the south; and Mulberry Street to the west.
Meritex, Metro Get Green Light for Chandler Industrial Complex
The Chandler City Council recently greenlit a Planned Area Development (PAD) zoning request and approved the plan for the development of Chandler Airport Center, a three-building industrial park in Chandler. The industrial project will be developed by Meritex Chandler and Tempe-based Metro Commercial Properties. The latter will also provide management services for the three units. Leasing will be handled by Lee & Associates Principals Chris McClurg and Ken McQueen.
Houston’s Galleria to Welcome Hyatt Regency Hotel
Houston’s Galleria will be home to a new Hyatt Hotel in the fall of 2015. The Hyatt Hotels Corporation recently announced that a Hyatt affiliate has entered into a franchise agreement with Songy HighRoads, an Atlanta-based company, for the development of the Hyatt Regency Houston Galleria.
Klyde Warren Park Receives Prestigious Urban Land Institute Award
The Urban Land Institute (ULI) recently announced that Dallas’ Klyde Warren Park has been selected as the winner of the 2014 ULI Urban Open Space Award. The award recognizes large- and small-scale projects that have improved and enriched the economy of their communities.
BKM Capital Acquires Black Canyon Business Park, Plans $5M Upgrade
BKM Capital Partners, a California-based collaborative investment firm, has recently acquired a three-property office portfolio for $42.8 million. The portfolio comprises the Black Canyon Business Park in Phoenix; the Hayden Island Business Park in Portland; and the Patrick Commerce Center in Las Vegas.
Dawn Properties Acquires Memphis’ Long-Stalled Apt. Highrise for $13.5M
Cushman & Wakefield recently made public that they brokered the acquisition of Memphis’ Horizon, a 16-story, 155-unit high-rise that has remained unfinished for more than six years due to the financial crisis of 2008.
Cabot Properties Closes on Houston Industrial Portfolio
Cabot Properties Incorporated, a Boston-based private equity REIT, has just closed on a three-building, industrial portfolio in Houston. The announcement was made through HFF, which brokered the transaction on behalf of the seller, East Group Properties.