the Editors of Commercial Property Executive
Parkway Properties to Purchase Hearst Tower
By Eliza Theiss, Associate Editor Investor confidence in the Charlotte office market seems to be on the rise. Following the recent sale of the Coliseum Centre, dubbed ‘deal of the week’ by The Wall Street Journal, another multimillion dollar office property transaction is in the works in the Queen City. Parkway Properties, an Orlando-based real […]
Detroit Recovery Continues with Approval of Four New Projects
Over the last months Detroit’s recovery effort has become more visible and the four renovation and redevelopment projects approved at the end of April show that the City is not that far from becoming the hot spot for investments.
Robert Mandelbaum: Giving And Taking Credit: Plastic Takes Precedence at U.S. Hotels
By Robert Mandelbaum and Alvin Minsk From 2008 and 2009, the averageU.S.hotel suffered a 13.2 percent decline in occupancy along with a 5.9 percent drop in average daily rate, or ADR. During this period, hotel managers were challenged to find tactics that maximized revenue for their hotels. On the sales side, adjusting room rates and experimenting with distribution channels garnered the most attention. However, back in the accounting offices ofU.S.hotels, decisions had to be made regarding the offering of credit to potential guests. On the one hand, loosening credit requirements may ease the way for certain groups to stay at…
Recorded Webinar: Designing a Multi-family Web Site
View this recorded webinar on designing a Web site that ultimately generates more leads, sponsored by G5.
John Hancock Real Estate Acquires 150 North Michigan Avenue Office Tower
By Gabriel Circiog, Associate Editor The 41-story 150 North Michigan Avenue office tower has been acquired by John Hancock Real Estate—the U.S. unit of Manulfie Real Estate—for $102 million. As previously reported by Commercial Property Executive, Jones Lang LaSalle Inc. was hired by Germany-based SEB Asset Management A.G. to market the property—previously acquired in 1999 […]
White Lodging to Break Ground on $300M JW Marriott
By Camelia Bulea, Associate Editor
White Lodging disclosed plans to break ground on the $300 million JW Marriott Austin this summer. The developer recently revealed the design of the downtown hotel, which will be 33 stories high and will measure 1.2 […]
Investment
(national cap rate performance based on properties and portfolios of $5 million and greater)
Redeveloping the Broad Street – Washington Avenue Corridor
By Eliza Theiss, Associate Editor Redevelopment, revitalization, rebuilding are the three big Rs of the Crescent City, and with the many scars left behind by Katrina, it’s no wonder. And areas with thousands upon thousands of lots left blighted and abandoned still offer plenty of opportunities for those willing to rebuild and bring back life to […]
Westfield Group to Sell Strongsville’s SouthPark Mall
By Adrian Maties, Associate Editor
The Westfield Group, the world’s second-largest shopping mall owner, announced plans to sell eight non-core U.S. shopping centers for $1.2 billion in order to pay off debt and invest in higher-profile projects. Greenwich, Conn.-based Starwood Capital Group will acquire a 90 percent stake in seven centers. The eighth property, Eastland, a […]
NAP Wins Approval for $600M Avalon Development
By Georgiana Mihaila, Associate Editor
The Southeast is one step closer to its first “experience center”—a place where high-end retail, restaurant, residential, office, hotel, and public spaces come together in order to create a unique destination. North American Properties has received key approvals to move forward with its $600 million Avalon development.
The resort-inspired mixed-use project will […]
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