the Editors of Commercial Property Executive
Highwoods Properties Acquires Landmark Office Building in Downtown Pittsburgh
In a $91.2 million deal, Highwoods Properties Inc. has purchased the 616,000-square-foot EQT Plaza skyscraper in downtown Pittsburgh. The transaction included the full acquisition of building owner Liberty Avenue Mezzanine LLC, a Delaware holding company. Highwoods Properties plans to invest another $8 million to improve the 32-story office building. Currently at 92.2 percent, the property’s occupancy rate will increase to 95.9 percent by the third quarter of 2013. Major tenants include EQT Corp., insurer AIG and law firms Cohen & Grigsby, McGuireWoods and Fox Rothschild.
Windstream to Build 21,000-Sq.-Ft. LEED Gold Data Center
By Eliza Theiss, Associate Editor Little Rock, Ark.-based Windstream Corp. has announced that Windstream Hosted Solutions will open a new data center in Nashville. Windstream Hosted Solutions is a provider of enterprise-class managed hosting solutions, boasting a nationwide network of data centers. The new facility will be an enterprise-class data center of 21,000 square feet, […]
Special Report: Top CEOs Discuss Post-Recession Investment Environment
The 2012 Global Real Estate Markets Conference hosted by the James A. Graaskamp Center for Real Estate (Wisconsin School of Business) featured a premier keynote panel with some of our industry’s top CEOs.
Macerich’s Tysons Tower Signs Intelsat to 188 KSF Lease
Macerich, owner and master-developer of McLean, Va.-based Tysons Corner Center, has signed satellite service provider Intelsat to a 15-year, 188,000-square-foot lease to serve as the future office tower’s anchor tenant.
North Philadelphia Data Center Sells for $65 Million to Carter Validus
Tampa-based Carter Validus Mission Critical REIT, Inc. has purchased a data center located in the Byberry Industrial Park in the Greater North Philadelphia area.
Eleven North Fetches Record Sum; New Hotel Planned for Gulch Area
If we needed any more proof of how dynamic the Nashville multifamily market is, we just got it with the announcement of Eleven North’s record-setting sale price.
Dominium, U.S. Bank Open Affordable Artists’ Housing Financed by Tax Credits
Minneapolis-based Dominium has completed the newly renovated Metropolitan Artist Lofts. The grand opening ceremony for the property was attended by representatives from Dominium, financing partner U.S. Bank and the Grand Center neighborhood.
Opus Closes on Financing, Prepares to Break Ground on Luxury High-Rise Apartment Building
Opus Development Corp. recently announced it has closed on financing for a planned luxury high-rise apartment building, The Nic on Fifth. The name of the development reflects the location of the project on Nicollet Mall and Fifth Street in downtown Minneapolis.
Investor Buys Meridian Tower, Picks Stream Realty for Leasing and Management
The Meridian Tower, a 228,500-square-foot Class A office building off the LBJ Freeway, was recently purchased by a private investment group. 2711 LBJ Partners, a subsidiary of DFW Integrity Group Ltd., plans to upgrade the office building with the addition of modern office suites and tenant conference rooms, as well as providing enhancements to the common areas. The building was developed in 1984.
Morguard Corp. Acquires LEED Gold M-F Complex in Chicago for $300M
Morguard Corp., an Ontario-based investor, agreed to purchase Alta at K Station, an 848-unit multi-family complex in Chicago’s West Loop, for $300 million, with the acquisition expected to close at the end of December.