Business Specialties
Coast Income Properties Inc. Acquires Pacific Ridge Corporate Centre
By Gabriel Circiog, Associate Editor Coast Income Properties Inc. has acquired a two-building office project in Carlsbad for $29 million, Rentv.com reports. The San Diego-based development company, founded in 1979, paid $239 per square foot to Brandywine Realty Trust for the Pacific Ridge Corporate Centre. The 121,500-square-foot Class A project is located at 5780 and […]
New Hyatt Place Opens in Vista-Carlsbad; NBTK Holdings LP Expands Office Portfolio
By Gabriel Circiog, Associate Editor Hyatt Hotels Corporation announced the opening of Hyatt Place San Diego/Vista-Carlsbad. The new 150-room hotel is the first Hyatt Place hotel in the Vista-Carlsbad area and the seventh hotel for Hyatt in the San Diego area. Located at 2645 South Melrose Drive, the hotel is targeting business as well as […]
Paramount/Colony Capital JV Buys Queens Trophy Tower For Estimated $475M
Fully leased to Citigroup, the 1.4 million-square-foot, 50-story One Court Square is the tallest building in New York City outside of Manhattan.
Highwoods Cleans House with $41M Sale of 500 KSF Nashville Office Portfolio
What Highwoods Properties Inc. views as non-core, another real estate company sees as a great opportunity. Continuing its asset repositioning program, Highwoods sold its 484,000-square-foot Highwoods Nashville Airport North Portfolio to The Lingerfelt Cos. in a $41 million transaction.
Prologis Completes Half-Billion in New Leases at Japan Projects
Prologis Inc. capped off a busy quarter in Japan with the closing of five new lease agreements totaling nearly 560,000 square feet at three projects in its development portfolio.
Economy Watch: Bernanke Downbeat, Unclear on Stimulus; CPI Flat, but HMI Up
The chairman of the Federal Reserve was on Capitol Hill on Tuesday, testifying as part of his “Semiannual Monetary Policy Report to the Congress,” and his assessment of the economy, at least for the short term, wasn’t particularly cheerful. Likewise, the Bureau of Labor Statistics reported that the Consumer Price Index was unchanged in June. But the National Association of Homebuilders’ Housing Market Index for July was up six points to 35.
Colliers Adds Birmingham Office
Colliers International continued its expansion with a new Southeast office in Birmingham, Ala. The 15th office added in two years, Colliers Birmingham, formerly Sandner Commercial Real Estate, represents “a significant growth opportunity” for Colliers in the Southeast.
Brennan Investment Grabs National Industrial Portfolio for $155M
In a joint venture with London-based Gatehouse Bank plc, the private real estate investment firm acquired a national industrial portfolio from an affiliate of AIC Ventures.
PREI, Urban Pacific Turn Dirt on 52-Story Condo High-Rise in San Francisco Hotspot
Demand for such dwellings is so substantial that the developers have committed to paying the city of San Francisco a $15.1 million fee to compensate for the exclusion of below-market-rate units.
Federal Realty Breaks Ground on 3.4 MSF Mixed-Use TOD in Rockville
The REIT is investing $250 million in the project’s first phase, a Federal Realty spokesperson told Commercial Property Executive.