the Editors of Commercial Property Executive
Fresh Market Coming to New Orleans; Medical Clinic for Lower Ninth
By Eliza Theiss, Associate Editor First Costco and Wal-Mart announced plans to come to New Orleans. Now another chain store has announced plans for the Crescent City. The difference, however, is that The Fresh Market already has a three-store presence in New Orleans, with the fourth one scheduled to open on July 25 at 9 […]
Cleveland Skyscraper Avoids Foreclosure
By Adrian Maties, Associate Editor Great news for the Tower at Erieview, one of downtown Cleveland’s best-known buildings. A foreclosure case against the office-retail complex at 1301 E. Ninth St. has been dropped, thanks to the efforts of Werner Minshall, the owner of the property. He managed to find a lender willing to buy out […]
International Paper Operations Sold; Warehouse Purchased For $7.5 M
By Eliza Theiss, Associate Editor International Paper, a global paper and packaging company, has announced via a press release that it has completed the sale of three of its operations as part of a February 2012 settlement agreement with the U.S. Department of Justice, this following the February 2012 acquisition of Temple-Inland Inc. All three […]
Avison Young Anticipates a Rebound for Manhattan Real Estate in Late 2012
As the second quarter of 2012 drew to a close, the Manhattan office market showed mixed indicators. Despite some increase in new leasing activity as compared to the record lows seen during the first quarter, vacancy rates continued to rise, which led to a high level of unoccupied inventory.
The Palisades Purchased; Mooresville Luxury Equestrian Property to Be Auctioned
By Eliza Theiss, Associate Editor Standard Pacific Homes has purchased a 1,100-home site at the 1,600-acre master-planned community—The Palisades—on the shore of Lake Wylie, N.C. The value of the deal has yet to be disclosed, but according to a Standard Pacific Homes press release, the purchase is the largest community land transaction of this caliber […]
Home Properties Buys Ellicott City Apartment Community
By Adrian Maties, Associate Editor Rochester, New York-based Home Properties recently announced it has acquired Howard Crossing, an Ellicott City apartment community, for $186 million or $138,000 per apartment unit. The cash deal was closed on June 28. Howard Crossing was constructed in phases from 1968 through 1975. It consists of 1,350 units in 42 […]
Aztec Group Completes Acquisition and Bridge Loan for Woodside Apartments
Real estate investment and merchant banking firm Aztec Group, Inc. has recently closed on a $6.55 million acquisition and bridge loan for the multifamily property Woodside Apartments in Kissimmee, Florida.
Could a Zombie Theme Park Bring Back Detroit’s Vacant Properties?
By Veronica Grecu, Associate Editor Over the last couple of years the subject of vacant properties has created a myriad of debates among Detroiters and city officials alike. Various revitalization initiatives and programs have been proposed to reduce the ‘eye soaring’ effect of these abandoned sites and breathe new life into places that once used […]
Why Now Is a Good Time for Multi-Family Acquisitions
By Jessica Fiur, News Editor, Multi-Housing News
W. Dean Henry, president of Legacy Partners Residential, reveals why now is the best time for multi-family acquisitions.
Windfall Group Plans New Commercial Building in Chicago’s Chinatown; New Restaurant Announced for Hard Rock Hotel Chicago
By Gabriel Circiog, Associate Editor Windfall Group USA is under contract to acquire one of the most coveted pieces of property in Chicago’s Chinatown and plans to build a 100,000-square-foot commercial building, Crain’s Cleveland Business reports. The Cleveland-based developer plans to construct the six-story commercial building on the southwest corner of Archer Street and Wentworth […]