Business Specialties
Lowe to Begin $70M Redevelopment of 13-Story Office Building in D.C. Suburb
Four years after acquiring the property formerly known as 1411 Jefferson Davis Highway in Crystal City, Va., Lowe Enterprises has kicked off a $70 million redevelopment of the building in an endeavor that will become the 308,000-square-foot 1400 Crystal Drive.
BPG's $83M Spend Nets Two Virginia Multi-Family Properties
BPG Properties has made an $83.4 million investment to acquire two multi-family communities in Fredericksburg, Va. Together, the two properties — Greens at Falls Run and Manor at England Run — total 676 units and are 95 percent occupied.
O'Connor Capital, Wafra Purchase Two Retail Centers Totaling 332 KSF
O’Connor Capital Partners and Wafra Investment Advisory Group have joined forces, acquiring The Promenade at Chenal in Little Rock, Ark., and Phase II of Settlers Ridge in metropolitan Pittsburgh, Pa.
Victory Medical Center Breaks Ground in Northwest San Antonio
By Camelia Bulea, Associate Editor Victory Healthcare recently broke ground on a new medical center in Northwest San Antonio. The first phase includes an 84,000-square-foot acute-care hospital. Plans call for a second phase, which includes a structure similar in size to the first building, housing medical office space, according to the San Antonio Business Journal. […]
CHRISTUS Health, Auto Parts Distribution Land Major Leases
By Camelia Bulea, Associate Editor CHRISTUS Health has chosen a new headquarters in the Las Colinas business park in Irving, where the company will move its 1,000 employees starting this summer. The 210,000 square feet of office space, called One Macarthur Ridge, is considered to be the perfect facility for the company, meeting its layout, […]
Seaport Square Adds $5 M Innovation Center
By Veronica Grecu, Associate Editor A $5 million plan for a new “Innovation Center” at the South Boston Waterfront that would provide low-cost meeting space for start-up businesses and support the high-tech industry was revealed last week by Mayor Thomas Menino. Designed by architecture firm Hacin + Associates Inc, the one-story structure will include 9,000 […]
Clarion Pension Fund Gets $100M in Secured Credit, Backed by Seven Industrial Properties
Utilizing a 2.1 million-square-foot commercial portfolio owned by a pension fund it advises as collateral, Clarion Partners L.L.C. now has its hands on a $100 million secured credit facility.
Wilder Cos. Nabs 412 KSF Retail Management Contract for Two Properties
The Wilder Cos. has just added 412,000 square feet of shopping-center responsibilities to its plate. The retail real estate services firm won a contract to spearhead leasing and management at Suburban Philadelphia’s The Shops at Valley Square, and another assignment to provide the same services at Somerset Square, located just outside of Hartford, Conn.
Ramada Inn Gets Makeover, Becomes Cedar Hotel
By Eliza Theiss, Associate Editor The former Ramada Inn at 1471 Brooks Road is getting a multimillion dollar facelift from a group of Chicago investors. According to The Memphis Daily News, Cedar Street Hospitality purchased the 245-key hotel in a 2010 auction for $1.55 million. Re-branded as the Cedar Hotel under the Clarion umbrella, the […]
Even More for Inland American: $393M in Hotel Purchases
Inland American Lodging Group Inc. continues to add upper-upscale and luxury assets to its portfolio, acquiring five hotels in five states with a total of 2,302 rooms this week for about $393 million.