the Editors of Commercial Property Executive
Entertainment Complex Planned for Purple People Bridge
The Purple People Bridge may take on a very new look in the coming years–if a study shows it can support the hotel, retail and entertainment project envisioned for it.
TNP Strategic Retail Trust Sells Waianae Mall, Acquires Lahaina Gateway
TNP Strategic Retail Trust Inc. of Irvine, Calif., has entered into an agreement to sell the Waianae Mall Shopping Center in Leeward Oahu to an unnamed buyer. The company acquired the property in June 2010 for $25.7 million.
Built in 1981, the retail center comprises 11 buildings totaling 170,275 rentable square feet. It is anchored by Longs Drugs and City Mill Superhardware, and includes a mix of national and regional tenants, such as Burger King, Fantastic Sams, Goodyear Tire, the state of Hawaii, American Savings Bank, Waianae District Health and Aaron Rents.
Excel Trust Pays $161M for Retail and M-F space at West Broad Village
In a $161 million deal, San Diego-based Excel Trust Inc. has acquired West Broad Village in Richmond. Excel also acquired five retail centers in Orlando from Unicorp National Development for a total investment of $263 million, Virginia Business reports
George Washington University to Build New 850-Bed Residence Hall
The George Washington University, the largest institution of higher education in the District of Columbia, plans to build a new, $130 million residence hall to meet the rising demand from students looking to live on the Foggy Bottom campus.
Three Majestic Redevelopment Proposals Pitched for Grand Central Station’s Upcoming Centennial
One of New York City’s most iconic places, Grand Central Station—located at 42nd Street and Park Avenue in Midtown Manhattan, is just months away from celebrating its centennial. To honor this milestone and breathe new air into this historic area, the Municipal Art Society of New York (MAS) has invited three acclaimed architectural firms—Skidmore, Owings and Merrill (SOM); Foster + Partners; and WXY Architecture + Urban Design—to propose design ideas for Grand Central and the surrounding area.
Apartment Project at RunTex Site Gets Green Light
The Austin City Council has recently approved a zoning change that allows developers to move ahead with a six-story apartment project worth $35 million in downtown Austin. Continue reading →
$25M Science Center Breaks Ground at Johnson C. Smith University
As Charlotte continues to grow, so do its educational facilities. A prime example of this is Johnson C. Smith University, which has just broken ground on a new 62,000-square-foot science center.
Gallatin Park Apartments Affordable Housing Community Opens
Miller-Valentine Group has officially opened Gallatin Park Apartments, a 48-unit affordable housing community in Gallatin, TN, a suburb of Nashville, TN.
New Mental Health Center Opens at Former Saratoga Hospital; Developer to Use Shipping Containers for Eastern Market Hotel
Behavioral Centers of America (BCA), a mental health chain based in Nashville, has selected a formerly bankrupt Detroit hospital for a multi-million dollar master campus investment that would balance out the need for mental health services in Metro Detroit and Michigan. The newly renovated StoneCrest Center is the only acute mental health hospital in the city of Detroit.
$301M Expansion at Nike’s Memphis Operations
Sports apparel giant Nike Inc. has announced it will be expanding its Memphis operations, investing $301 million