the Editors of Commercial Property Executive
Milhaus Plans Second Phase of Artistry Apartment Development in Downtown Indianapolis
Milhaus Development is seeking city approval to begin construction on the second phase of its Artistry apartment project in downtown Indianapolis.
Bell Partners Acquires Apartments in Raleigh for $46.8M, Sells in Chapel Hill
Apartment investment and management company Bell Partners Inc. of Greensboro has recently purchased The Woodlands at Wakefield Plantation, a 360-unit multi-family community in north Raleigh, which it renamed Bell Wakefield. According to the Triangle Business Journal, an entity managed by Altman Development Corp. of Boca Raton, Fla. sold the property for $46.8 million.
LEED Certification for Hotels and Hospitality
LEED certification and green building issues are becoming ever more prominent on the hotel facilities management front. Facility managers from across the hospitality industry are having their development efforts scrutinized for water and energy efficiency, management of waste reduction, local and sustainable buying, and use of alternate forms of transportation. This attention to sustainability and green issues can have an impact on hotels’ bottom lines. Read the entire article on our blog site at https://blog.commercialsearch.com/news/global-green-design/leed-certification-for-hotels-and-hospitality/
Twitter Chat: Michael Lagazo on the Current and Future State of Retail
Retail expert and value-add strategist Michael Lagazo, senior associate at investment sales specialist Rosano Partners, lent his expertise in the sector and experience in leadership positions at a number of leading publicly traded global and national REITs during his live Twitter chat with CPE editors in 140 characters or less per Tweet. What follows is a transcript of the exchange. CPE: Michael, how will malls fare this holiday season? Lagazo: Strong occupancy boosts regional mall REITs: https://www.snl.com/InteractiveX/Article.aspx?cdid=A-25148086-11313 . Reis reports third-quarter 2013 vacancies stand at 8.2 percent, down 10 basis points from the second quarter of 2013 and 50 basis…
LEED Certification for Hotels and Hospitality
LEED certification and green building issues are becoming ever more prominent on the hotel facilities management front. Facility managers from across the hospitality industry are having their development efforts scrutinized for water and energy efficiency, management of waste reduction, local and sustainable buying, and use of alternate forms of transportation. This attention to sustainability and green issues can have an impact on hotels’ bottom lines. According to industry analysts Smith Travel Research, U.S. hotels are rising in key performance metrics. In 2012, overall hotel occupancy averaged about 61 percent, up 2.5 percent in 2011. Average daily rate increased to $106 (up…
Partners Purchase Leasehold Interest in Ohana Waikiki West Hotel; FBI Building Achieves LEED Gold
Boston-based Rockpoint Group, local firm BlackSand Capital and California-based management firm Evolution Hospitality have announced the leasehold purchase of the 659-room Ohana Waikiki West hotel in Honolulu.
Highwoods Breaks Ground on $110M Build-to-Suit Technology Hub for MetLife
MetLife has recently celebrated the groundbreaking of its new build-to-suit global technology hub in Cary.
Mixed-Income Housing Community Breaks Ground in Pittsburgh’s East Liberty
Federal, state and local officials have joined nonprofit Community Builders, Inc. to celebrate the groundbreaking of a $14.2 million residential and commercial development in Pittsburgh’s East Liberty neighborhood.
Westin Hotel in Downtown Undergoes $14M Renovation
The four-star Westin Hotel in downtown Indianapolis is about to embark upon a $14 million refurbishment project. According to the Indianapolis Business Journal, the overhaul, which will include the property’s 13 floors and 573 guest rooms, will start this month and be complete by February.
Turtle Bay Expansion Plans Move Forward
The City and County of Honolulu’s Department of Planning and Permitting has approved a final environmental impact statement for the $770 million redevelopment of the 880-acre Turtle Bay Resort, the Pacific Business News reports.
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