Business Specialties
Chrysler Inks Lease for 110 KSF in Manhattan’s Auto Row
Chrysler has signed a lease for a new auto showroom and service space at 629 W. 54th St. in the Big Apple.
Executives’ Investment Outlook Spreads the Wealth: CPE 100 Quarterly Sentiment Survey
By Paul Rosta, Senior Editor Amid a rising note of optimism, commercial real estate executives expect a variety of property types to shine over the next 12 months, according to the CPE 100 Quarterly Sentiment Survey. Asked which category is likely to present the most attractive investment opportunities, executives divided their responses fairly evenly among different sectors. One third called the office sector the most promising, and about 25 percent each said that the retail and multifamily sectors would provide the strongest investment potential over the next 12 months. The findings are among the highlights of the most recent quarterly…
Summit to Purchase 8-Hotel Hyatt Portfolio for $87M
Summit Hotel Properties REIT signed a deal with affiliates of Hyatt Hotels Corp. to buy a group of eight Hyatt lodging destinations for $87 million.
Stunted Chicago M-F Project Gets $115M Construction Financing
The downtown Chicago project 111 Wacker Drive is getting its second wind. The multi-family property, which never came to be in 2008 due to the financial crisis, will now be slated to open in 2014.
Griffin-American Healthcare Acquires Three Assets for $60M
The healthcare REIT has bought two medical office buildings in Tennessee and one in Texas, bringing its total portfolio to 113 buildings.
KKR, Hines, Pinto Join Forces on Houston Industrial Park
KKR has partnered with Hines and Pinto Realty to bring Houston’s Pinto Business Park into fruition, a project that at full development would cost more than $900 million.
CBRE Introduces Sustainability Research Program
CBRE Group plans to financially support advocates of sustainability in commercial real estate across the globe.
FirstService Merges Three Residential Management/Preservation Subsidiaries
FirstService Corp. of Toronto has merged its FirstService Residential Realty, TenantAccess and Property Access subsidiaries, which will operate as one in Fort Lauderdale.
137-Unit Suburban Boston Apartment Trades for Reported $40M
Wellington Place, a Class A property in Medford, Mass. has come under new ownership.
Emmes Completes Major Lobby Renovation of 377 KSF at 4000 MacArthur
The complex in the Orange County, Calif. coastal city got a facelift from Emmes Asset Management, which oversaw major renovations of the lobby and other significant upgrades throughout the property.