Suzann D. Silverman
Suzann D. Silverman is editorial director of CPE. She has covered the commercial and multifamily real estate industry since 1995, becoming editor-in-chief of Commercial Property Executive (formerly Commercial Property News) in 1998 and editorial director of both CPE and Multi-Housing News in 2016. She is also a longtime board member of the National Association of Real Estate Editors, currently serving as vice president. You can reach her at suzann.silverman@cpe-mhn.com.
W.P. Carey Buys Raytheon Office Building for $19M
A real estate investment trust has just recently acquired a 143,650 square-foot Class A office building currently leased to one of The Raytheon Company’s main business divisions, Raytheon Missile Systems which is the largest of Raytheon’s six operating segments and the largest private employer in the Tucson area.
International Tech Group Subsidiary Consolidates Operations at 5405 Windward Parkway
Andritz Inc., a U.S. subsidiary of the Andritz Group moves to 5405 Windward Parkway. The company has recently signed a long-term lease for 40,000 square feet. To the he landlord, Highwoods Properties, Inc.’s relief the building has reached almost complete occupancy.
Vista Pointe Apartments in Palm Springs Sold
The Vista Pointe community at 555 Kirk Road in Palm Springs has recently changed hands for $18.11 million with the involvement of CBRE, representing the seller, Riverfront Capital in the transaction. Avesta Real Estate Fund I, LLC is the new owner of the 314-unit apartment community.
The Army Builds Its Largest-Ever Solar Project in Southern Arizona
Development of a solar array in southeast Arizona is about to start, according to a written announcement recently released by the U. S. Army. The plant is designed to meet about 25 percent of the annual installation electricity requirement of Fort Huachuca, one of the United States Army’s busiest transient installations.
Parkway Takes Ownership of One Orlando Centre
Parkway Properties, Inc. has announced the acquisition of One Orlando Centre. The company has also simultaneously restructured the existing first mortgage loan.
Berkley Specialty Underwriting Managers Consolidates Operations at Ravinia
Berkley Specialty Underwriting Managers has recently signed a long-term office space lease in Atlanta’s Central Perimeter submarket at Two Ravinia Drive. The property is part of the 42-acre Ravinia complex which consists of three Class A towers and a 500-room Crowne Plaza Hotel.
Lightstone Group Acquires Aloft Tucson University Hotel from Starwood for $19M
Starwood has recently announced the $19 million sale of Aloft Tucson University to Lightstone Value Plus Real Estate Investment Trust II, Inc., a public, non-traded REIT sponsored by The Lightstone Group.
Dine-in Movie Theater Replaces Grand Cinemas Crossroads 6
Roadhouse Cinemas, a group of local entrepreneurs will open a state-of-the-art dine-in cinema in Tucson later this year. The group will spend over $2 million on the recovery of Grand Cinemas Crossroads 6, an existing discount theater located at the corner of East Grant and North Swan Road at Crossroads Festival Shopping Center.
Hotel Equities to Manage Wyndham Hotel on I-Drive
Hotel Equities has announced its arrangement with Wyndham Hotel Group to manage Wyndham Orlando Resort International Drive and a newly built hotel in Southwest Texas.
Terwilliger Pappas Breaks Ground on $50M Buckhead Community
Terwilliger Pappas Multifamily Partners started site work on Solis Downwood, a 280-unit luxury apartment project in Atlanta’s Buckhead district.