News
Historic Grand Central Square Changes Hands in LA
The 100-year-old mixed-use building features Grand Central Market, one of the city’s top dining destinations. The buyer, Langdon Street Capital, plans to enhance the property’s hospitality experience.
Orlando Hospitality Developers Begin to Explore Mixed-Use
Orlando’s hospitality and tourism industries aren’t showing any signs of slowing down, but with land costs rising, developers may need to shift their strategies. Daniel Bachrach, partner at Foley & Lardner, discusses the trends and changes to come for the market.
Tru by Hilton Debuts Internationally
The three properties are Tru by Hilton Edmonton-Windermere, slated to open in 2018, and Tru by Hilton Markham and Tru by Hilton Kingston, scheduled to debut in 2019.
EMMES Starts Renovation of $220M Centerview
The company has started a multimillion-dollar renovation of Centerview, Class A office buildings located in the Irvine Concourse. EMMES recently acquired the asset for $220 million.
Kidder Mathews Adds New San Diego VP
Veteran broker Peter Quinn has joined Kidder Mathews’ San Diego office. In his new role, he will be responsible for the company’s investment properties.
Residence Inn Salt Lake City Opens Doors
The 99-key Residence Inn Salt Lake City – West Jordan has opened its doors. Utah Hospitality of Aberdeen, S.D., will manage the property.
NKF Arranges Sale of San Diego Industrial Portfolio
Colony Capital sold a two-property industrial portfolio in central San Diego, comprising more than 132,000-square-foot.
Firmspace Opens Flagship Austin Location
The flagship location is near premium AA buildings with close access to restaurants, retail and more. The company has plans to expand its co-working facilities to locations such as Denver, Houston, Dallas, New York City, Miami, Salt Lake City, Washington, D.C. and Atlanta.
Economy Watch: Interest Rates Stay Still
As widely expected, the Federal Open Market Committee maintained the target federal funds rate at 1 percent to 1.25 percent. The committee noted the likelihood of gradual rate increases down the line.
Skanska Pitches In for $93M Cincinnati School Project
The project includes two new replacement schools, a 204,000-square-foot elementary school and a 236,000-square-foot middle and high school, both seeking a minimum LEED Silver certification.