the Editors of Commercial Property Executive
Developers Plan Senior Housing and 188-home Projects in Leander
By Camelia Bulea, Associate Editor
The City of Leander is welcoming two major housing projects, with the transformation of around 300 acres of land into a 188-home development, as well as a mixed-income and senior-housing project. The first housing project will […]
LEED Silver Multifamily Property Sold for $74M
By Eliza Theiss, Associate Editor Post Properties Inc. has acquired Circle at South End from Crescent Resources in one of Charlotte’s priciest multifamily transactions. Post paid $74 million, or $205,555 per unit, for the property, which it immediately re-branded as Post South End. The 360-unit property is located in the Queen City’s South End neighborhood […]
DDR Buys Tucson Spectrum Shopping Center for $80M
Tucson Spectrum, a million-square-foot shopping center on West Irvington Road, was recently bought by DDR Corp., an Ohio-based real estate investment trust, for $80 million. The open-air retail center is currently 99 percent leased and major tenants include Harkins Theatres (l80,527 square feet), Target (124,696 square feet), JCPenney (99,956 square feet), Home Depot (104,000 square feet) and Food City (55,000 square feet), reported the Arizona Daily Star.
$44 Million Grant Helps Detroit RiverWalk Redevelopment
By Veronica Grecu, Associate Editor In an effort to wrap up the remaking of the 5.5 mile RiverWalk that connects the Ambassador Bridge and Belle Isle, the city of Detroit received a total of $44 million in state and federal grants as financial support for the final stage of construction. According to Detroit Free Press, […]
TSU Taps Contractors for $9M Campus Renovation
By Camelia Bulea, Associate Editor Texas State University has selected Houston-based Satterfield & Pontikes Construction Inc. as construction manager for a $9.3 million project in San Antonio. The firm will oversee the renovation of a 37,500-square-foot psychology building, according to the San Antonio Business Journal. Work is scheduled to start next spring. The scope of […]
Cuyahoga County Eyes 250,000-SF Headquarters Space
By Adrian Maties, Associate Editor In a planned series of moves that promise to make a collective splash in the Cleveland real estate market, the Cuyahoga County government is in the hunt for 225,000 square feet for a new headquarters and another 200,000 square feet for record storage. In addition, the county also plans to put […]
Garrison Investment Group Acquires the DoubleTree Denver-Aurora; Sage Hospitality Now Manages the Embassy Suites Denver
By Gabriel Circiog, Associate Editor Holliday Fenoglio Fowler announced it has closed the sale of the DoubleTree Denver–Aurora. The 248-room full-service hotel, located at 13696 East Iliff Pl. in Aurora, was marketed by HFF on behalf of the seller—GTIS Partners. The property was purchased by New York-based Garrison Investment Group for an undisclosed amount. The […]
Economy Watch: Middle-Market Firms More Cautious; Has Housing Hit Bottom?
Zillow’s Home Value Index rose for the first time in five years; mid-sized firms expect revenue growth to slow from 5.2 percent to 4.8 percent over the next 12 months.
Launch Planned for $65M Miamisburg Business Park
By Adrian Maties, Associate Editor According to a recent report from Cassidy Turley, the office vacancy rate in the Dayton area dropped from 27.8% at the end of 2011 to 26.1% in the first half of 2012. While the improvement from quarter to quarter is relatively modest, the trend is good news for Mark Fornes […]
Developers Add 576 New Apartment Units to DFW Area
By Camelia Bulea, Associate Editor It appears that the Dallas – Fort Worth area is hungry for new apartments, as two new multifamily projects will add to the local housing stock: a 258-unit project in Downtown Dallas and a 318-unit apartment community in North Fort Worth. The Dallas residential project is a redevelopment of the […]