the Editors of Commercial Property Executive
2013 Top Property Managers
Our 2013 look at property management leaders shows that third-party management continues to both grow and consolidate. On a period-to-period measure, from 2010 through year-end 2012, occupancy increased for all of the firms except for three, with those likely attributable to portfolio changes.
HCDA Green-Lights First of Three Howard Hughes Residential Projects in Downtown Honolulu
The first of the three residential towers proposed by the Howard Hughes Corporation in Honolulu’s Kakaako neighborhood has been approved by the Hawaii Community Development Authority.
Call for Nominations: Executive of the Year Awards
CPE is seeking nominations for the 2013 Executive of the Year awards. The deadline is August 13th!
Trio of M-F Projects Awaits City Approval
The city’s Zoning, Neighborhoods and Development Committee has recently green lighted three separate apartment projects in Milwaukee. The Business Journal reports that the proposed residential developments would bring a total of 229 units. A final decision from the Common Council is expected on July 23.
Terwilliger Pappas Restarts Crabtree Village Mixed-use Development
Developers have begun construction on the first phase of the long-stalled Crabtree Village master plan in Raleigh.
Buncher’s $400M Strip District Mixed-Use Development Moves Forward
The Buncher Co. is planning to proceed with its $400 million Riverfront Landing project regardless of whether it receives permission to demolish the western end of the landmark Produce Terminal Building in the Strip District.
PMC Property Group Plans to Repurpose Pittsburgh’s Clark Building into Apartments
The upper floors of the 23-story Clark Building on Liberty Avenue in downtown Pittsburgh could soon be converted into one- and two-bedroom apartments.
Investor Buys Multifamily Property from PREI for $165,436 Per Unit
The Alexan Garrett Farms, a 298-unit rental community located off of U.S. 15-501 in south Durham has recently changed owners. According to the Triangle Business Journal, real estate investment firm Bentall Kennedy of Boston has acquired the property from Prudential Real Estate Investors of Chicago. The community sold for $49.3 million, or $165,436 per unit.
Big Red Liquors Plans New 33,000-Sq.-Ft. HQ in Indianapolis
Bloomington-based Big Red Liquors is planning to turn a vacant 33,000-square-foot building on the south side of Indianapolis into the company’s new headquarters.
Blue Ribbon Plans Offices, Student Housing in Downtown Milwaukee
Construction on two developments in downtown Milwaukee is about to begin. According to BizTimes, Blue Ribbon Management LLC is planning to develop a five-story office facility and an apartment building for international college students at the site of the former Pabst brewery.