the Editors of Commercial Property Executive
UPMC to Occupy Former Heinz Space in Downtown Pittsburgh
The UPMC health system has announced it would relocate its 450 employees from Chatham Center to Heinz 57 Center at 339 Sixth Avenue in downtown Pittsburgh.
Pittman, Barrett & Stokely Plan $35M High-End Multi-Family Community in Carmel
Construction could soon begin on a luxury 14-building, 256-unit apartment community near the Monon Greenway in Carmel.
Walnut Capital Partners Plans Apartment and Retail Project in East Liberty
More apartments and retail space could be rising in the heart of the city’s East Liberty neighborhood.
Raleigh Offers $38M for State-Owned Dorothea Dix Property Near Downtown
City leaders have offered the state $38 million for the purchase of the 308-acre Dorothea Dix property near downtown Raleigh. The move would allow local officials to move forward with their plans of turning most of the former psychiatric hospital campus into an urban park.
Time Equities Makes $9.5M Acquisition of Its First Retail Property in Indiana
In a $9.5 million deal, Time Equities Inc. (TEI) of New York has acquired the Shadeland Station shopping center on the north side of Indianapolis.
Plans Move Forward for Massive Newbury Market Brownfield in South Fayette
South Fayette commissioners have recently approved the site plan for the Newbury Market, a mix of retail, restaurant, office and hotel space slated to rise across 100 acres of land near the Bridgeville interchange of Interstate 79.
Walton Street Capital Acquires Honolulu’s Ambassador Hotel Waikiki for $71.5M
Walton Street Capital LLC, a private equity real estate investment firm based in Chicago, has recently acquired the 298-key Ambassador Hotel Waikiki in downtown Honolulu.
Low-Income Senior Housing Project in Downtown Indianapolis Wins $837,000 in Federal Tax Credits
A $9.6 million affordable senior housing project planned by TWG Development LLC in downtown Indianapolis has been awarded federal tax credits from the Indiana Community & Housing Development Authority.
Faros Properties Pays $44.9M to Acquire Massive Apartment Community in Downtown Pittsburgh
Real estate investment firm Faros Properties of New York has closed on the acquisition of the approximately 800-unit Allegheny Center Apartments on the North Side of Pittsburgh, perhaps the largest residential rental complex in the city and region.
John Hampton: Today’s Workplace Evolution, Tomorrow’s Real Estate Strategy: Proworking in 2014
For a growing percentage of the workforce, “going to work” no longer translates as “going to the office.” With most corporate office space vacant for nearly half of an average day—according to numerous industry studies—and nearly a billion square feet of U.S. office space sitting empty, it is clear that mobility is king. With 79 percent of U.S. companies planning to increase mobile workplace options, the question for commercial property decision-makers is not whether to embrace mobility, but how and when. A new approach to aligning work and place can help balance supply and demand in the corporate real estate portfolio,…
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