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Meraas to Debut 4 New Hotel Brands in Dubai
The company is not alone in its bid to enhance the city’s hospitality market, as the metro sports the largest guestroom pipeline of any city in the world.
Omni to Develop 1,050-Key Hotel on Boston’s Waterfront
The two-tower property, which will be located directly across the street from the Boston Convention and Exhibition Center, is expected to open in early 2021.
Regency Centers Plugs Plans for Chicago Project
The 270,000-square-foot development will be located in Vernon Hills, 30 miles outside of Downtown. The company has already commenced construction and expects to open in late 2018.
Institutional Investors Upbeat About CRE, but Cut Commitments Anyway
A report based on the latest survey by Institutional Real Estate Inc. and Kingsley Associates indicates that U.S. players plan to commit $62 billion in commercial real estate this year.
Compton Industrial Space Completely Leased
UPS took more than 500,000 square feet of space at the LEED Gold-certified Brickyard South Bay in September. Best Buy is now taking up the rest with the signing of a 10-year contract.
Suburban Office Stayin’ Alive
Despite the common narrative about the downfall of the suburban office market, the sector has actually been steadily improving since after the Great Recession, according to a recent CBRE report. Improving demand and lower supply levels have kept vacancy rates low and absorption high.
Starwood Capital to Acquire Austin’s Forestar Group
The Forestar board unanimously approved the $605 million merger, which is expected to close in the third quarter of 2017. The firm has been reducing its debt and exiting non-core assets for the last 18 months.
Boston’s Center Plaza Commands $365M
Synergy Investments and GreenOak Real Estate are the new owners of the 741,200-square-foot office and retail property, which comprises three interconnected buildings near Boston City Hall.
Skanska to Develop $151M Houston High-Rise
The 35-story tower will consist of approximately 780,000 square feet of office space, with nearly 26,000 square feet of retail.
Toyota to Invest Record $1.3B in Kentucky Plant
The revamped 7.5 million-square-foot facility, which ranks as the automaker’s largest factory in the world, will further boost the region’s industrial market.