News
Newport Beach Office Tower Trades for $76M
American Realty Advisors sold 4100 Newport, a 190,400-square-foot office tower in Orange County, Calif., to Olen Properties in a transaction that’s been deemed the area’s largest office sale by price per square foot.
Hillwood to Deliver 1.7 MSF Kentucky Industrial Project
Hillwood and Al. Neyer plan to develop two speculative buildings, totaling more than 1.7 million square feet, in Erlanger, Ky. The construction of Building 1 will start in 2018.
Cushman & Wakefield Arranges New Leases at FL Business Center
The new tenants of Port 95 Business Center in Dania Beach, Fla., will boost the building’s occupancy to 92 percent. The leases total 47,182 square feet.
Enerkem Begins Commercial Production of Cellulosic Ethanol
The company’s facility in Canada is the first commercial-scale plant in the world to produce cellulosic ethanol made from non-recyclable, non-compostable mixed municipal solid waste.
Dubai Picks Team for $3.9B Solar Project
A consortium led by Shanghai Electric and ACWA Power will build the 700-megawatt fourth phase of Mohammed bin Rashid Al Maktoum Solar Park, touted as the largest facility of its kind.
InvenTrust Acquires $115M LA Shopping Center
The 275,000-square-foot River Oaks shopping plaza features tenants such as Target, buybuyBaby, Total Women Gym & Spa, Big 5 Sporting Goods, Sprouts, ULTA and Pier 1 Imports.
Chinese Investment in US Real Estate Likely to Slow
China’s new set of restrictions on foreign investment is expected to impact U.S. real estate. Morris, Manning & Martin’s Samantha Ahuja weighs in on the extent of the effect and the alternatives for Chinese investors.
Monday Properties Hires New SVP
Wes Machowsky is the firm’s newest senior vice president of acquisitions, bringing vast real estate capital markets and leasing experience to the position.
Iron Mountain Opens NoVa Facility
The company opened its first data center in Prince William County, with three more scheduled for construction on the campus. The 165,000-square-foot, 10.5-megawatt facility is the company’s fifth U.S. data center.
Foreign Investor Gets Hospitable in Houston via CBRE
Canadian investment group Prime Developments closed its second value-add hotel acquisition in the Houston area, with the purchase of Holiday Inn Express & Suites Houston East in Baytown, Texas.