News
Banyan Grabs Miami Office Asset in $33M Deal
The new owner plans to invest in capital improvements and modernize the property through a series of upgrades to the building lobby, elevator and common areas.
Steel Manufacturer to Invest $250M in MO Mill
Nucor Corp. intends to build a rebar micro mill in Sedalia, Mo. The investment is expected to generate 255 jobs once the facility is operational.
Suburban Philly Office Asset Lands New Tenants
Iron Run Corporate Center in Allentown, Pa., has been recently renovated and features upgraded common areas, as well as a new lobby and fitness room.
IHG to Open First Hotel Indigo in Japan
The joint venture between InterContinental Hotels Group and ANA will open the first Hotel Indigo property in Japan in 2019. The hotel is just 90 minutes from Tokyo’s city center.
Economy Watch: Construction Spending Up in Most States
An increase in construction activity adds to the income and potential growth of each state, noted Markstein Advisors’ Bernard Markstein, who prepared the latest Associated Builders and Contractors report.
Lingerfelt Acquires Norfolk Waterside Marriott
The company purchased the 405-key hotel and plans on implementing a $25 million renovation program. CommonWealth Lodging Management, Lingerfelt’s hotel management affiliate, will operate the hotel.
Austin Office Campus Lands $64M
HFF arranged the five-year, floating rate loan through Wells Fargo for Amber Oaks, a nine-building, 543,544-square-foot Class A office campus. The debt replacement team worked on behalf of the borrower, Menlo Equities.
NY-Area Retail Centers Land $663M Refi
The refinanced portfolio comprises 98.1 percent leased retail centers anchored by grocery stores, including ShopRite, Aldi, Home Depot and more. The loans include 14 fixed- and two floating-rate facilities with terms ranging from seven to 13 years.
CBRE Wins $200M Contract for NY Public Library Revamp
Architecture firms Mecanoo and Beyer Blinder Belle are behind the project design. Upgrades will make way for a five-story wall of book stacks, new meeting rooms, 17,000 square feet of reading and study space and more.
Holder Properties Sells 4 Office Buildings in Charleston
As part of the deal, Holder Properties has agreed to continue to manage the buildings on behalf of the new owners. Each property boasts a mix of local, regional and national tenants.