the Editors of Commercial Property Executive
RDM Advises on Over $2bn in DD in 1st Half of 2012
Real Capital Analytics recently released their Top Property Sales list for the first half of 2012, and we are proud to announce that RDM advised on 10 out of the top 16 office property sales on the list; valuing over $2 billion.
OSU Awards $98M Science Building Contract to Gilbane
Gilbane Inc., has secured the construction management contract for a $98 million chemical and biomolecular and engineering building on the Ohio State University campus in Columbus.
Sanbusco Market Center Sold at Auction to GE Capital Affiliate
Santa Fe’s Sanbusco Market Center was sold at auction to its lender. An affiliate of General Electric Capital Corp. bought it for $8.8 million, the value of the loan, thus ending 28 years of ownership by Joseph Schepps, according to the New Mexico Business Weekly.
Title Source Moves 1,500 Employees to Downtown Detroit
By Veronica Grecu, Associate Editor Dan Gilbert’s family of companies continues to consolidate its presence in Detroit’s Central Business District as Title Source, a Rock Ventures-affiliated company, has started relocating 1,500 of its Michigan-based employees to the First National Building, a Class A office tower located at 660 Woodward Ave. Built in 1930 under famed […]
Harbert Buys Lockhill Selma Office Property in San Antonio
By Camelia Bulea, Associate Editor Harbert United States Real Estate Fund IV L.P. announced the acquisition of 4350 Lockhill Selma, a three-story, 116,545-square-foot Class A office building in San Antonio. Additionally, the company bought the adjacent land parcel, on which it plans to develop a second phase. Financial terms were not disclosed. Travis Pritchett, managing […]
SIGNET Development Breaks Ground on $130M NEOMED Expansion Project
By Adrian Maties, Associate Editor SIGNET Development, a full-service real estate development and construction management firm co-headquartered in Akron, Ohio, and Jacksonville, Fla., broke ground on July 24 on a new residential housing village in Rootstown for the Northeast Ohio Medical University (NEOMED). This is the first part of NEOMED’s three-phase master expansion plan. which […]
White Castle to Build Plant in Vandalia; Cengage Renews Lease in Northern Kentucky
By Adrian Maties, Associate Editor Columbus-based White Castle broke ground last week on a new food processing plant in Vandalia, near the Dayton International Airport. Gov. John Kasich, White Castle CEO E. W. “Bill” Ingram III and Vandalia city officials attended the groundbreaking ceremony. The new 75,000-square-foot plant will be situated in the Stonequarry Crossings business […]
New Owners, New Name for Polos East at Waterford
Advenir has recently added the Polos East at Waterford apartment community to its portfolio, following a $27.1 million transaction. The Aventura-based company–a provider of multifamily real estate investment and management services—has sealed the sale by changing the name of the 308-unit community to Advenir at Polos East.
Miami Center Trades Owners; Crocker Pays $262M for Trophy Tower
Miami’s best-known office address, 201 South Biscayne Drive—where the Miami Center stands—has just traded for $262.5 million in what the Wall Street Journal calls the deal of the week. Boca Raton-based Crocker Partners purchased the 35-story building from Sumitomo Corp. of America, a unit of the Japanese global trading firm Sumitomo Corp.
IDS Center Hits the Market; Landmark Could Fetch $300M
By Gabriel Circiog, Associate Editor Inland American Real Estate Trust Inc. is marketing the 2 million-square-foot IDS Center in Downtown Minneapolis, a signature feature of the city skyline for four decades. Designed by Philip Johnson, the post-modern landmark encompasses a 57-story office tower with an eight-story annex, a two-story retail center, a 19-story Hilton hotel and […]