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Hines Strikes Deal to Sell Houston’s 1.8 MSF Shell Plaza
Enterprise Products Co. is expected to close on the two-building trophy complex in Houston’s central business district later this summer.
U.S. Leads Global Investment Sales as NYC Flexes Muscles: Cushman & Wakefield Midyear Update
U.S. investment sales are expected to reach $253 billion in 2011, a 25 percent jump compared to 2011. In the nation’s biggest office market, fundamentals remain sound.
Economy Watch: Most Industries Create Few Jobs in June, but Retail Vacancies Drop, Rail Shipments Mixed
June’s weak employment numbers capped a weak quarter overall for U.S. job growth. The Association of American Railroads measured the number of U.S. rail carloads originated in June 2012 at about 1.14 million, down 1.3 percent, but the intermodal volume at just over 996,000 containers and trailers, up 5.2 percent. And Reis Inc. reported the vacancy rate for regional U.S. malls dropped to 8.9 percent in the second quarter.
Wood Partners to Bring 22-Story Luxury Rental to Los Angeles
Wood Partners has become the latest developer to announce plans to erect a high-rise apartment building in Los Angeles, in its case a 22-story tower housing 290 units in the South Park district.
Broccolini Plans to Build Tallest Residential High Rise in Downtown Montreal
In addition to the 350-unit mixed-use L’Avenue, there are 10 other new large-scale residential projects being planned for Montreal, according to city officials.
Solis Announces New Five-Star Guangzhou Hotel
Solis Hotels & Resorts announced plans to build a 260-unit luxury hotel in Guangzhou, China. The Solis Guangzhou will be the company’s third property under construction in China this year.
Parmenter Lands Fifth Third Tower
Miami-based Parmenter Realty Partners has acquired Fifth Third Center, a 30-story office in Charlotte, N.C., with the aid of a $120 million financing deal obtained by CBRE Capital Markets.
Update: Nordstrom to Hit Manhattan–Finally
It’s been a long time coming. Nordstrom Inc. has had its eye on opening a store in Manhattan for yearsand years, and now the long-held plan is finally coming to fruition. The fashion specialty retailer joined New York City Mayor Michael Bloomberg and real estate owner Extell Development Co. this afternoon to announce Nordstrom’s 285,000-square-foot news.
The Winners: CPE’s Distinguished Achievement Awards
CPE is pleased to announce the winners of the second-annual Distinguished Achievement Awards, recognized for their ability to complete deals and projects in the face of last year’s recovering economy.
Construction Starts on $172M Marriott Tower in Downtown L.A.
Encompassing Marriott’s Courtyard and Residence Inn brands within a single 23-story tower, the $172 million project will target visitors to the Los Angeles Convention Center when it opens in the summer of 2014.