News
Faros Lands $128M for 2 Pittsburgh Office Assets
HFF secured a five-year, floating-rate loan through Wells Fargo. The financing will be used for Nova Place, a 1.3 million-square-foot development, and 106 Isabella, a nearby vacant building.
Planning & Building for Severe Weather
In the wake of Hurricane Harvey and Hurricane Irma, developers, designers and cities themselves need to ensure their current and future buildings can withstand extreme weather events, notes WXY architecture + design Co-Founder Claire Weisz.
Economy Watch: Consumers Unnerved by Recent Storms
Consumers responding to the University of Michigan’s latest survey expressed concerns that Hurricane Harvey and Hurricane Irma would negatively impact the overall economy, leading to a drop in the Sentiment Index in August.
CIM Group Snags Boston Office Property
The company has partnered with longtime owner and manager Nordblom to acquire 1000 Washington St., a 242,000-square-foot building and adjacent parking garage in the city’s South End.
Ridgeline, USAA Team Up in Nashville
The joint venture is developing Park 840 East Building 100, a 558,600-square-foot distribution and logistics facility in Lebanon, Tenn. The project is scheduled for delivery by mid-2018.
Wonderful Spec Project Underway in Central Valley
The 1 million-square-foot building, which will sit within the 1,600-acre Wonderful Industrial Park in Shafter, Calif., is one of only a few developments of its kind in the market.
DivcoWest Adds Office Tower to San Diego Portfolio
The building marks the company’s second purchase in San Diego. DiamondView East Village offers retail and events spaces, in addition to Class A workspaces.
GP to Invest $100M in New AL Lumber Facility
The 300,000-square-foot facility is slated for completion in late 2018. Once completed, the plant is set to employ more than 100 full-time workers.
GTJ REIT Snags FedEx-Leased NY Facility
The 43-acre, 248,370-square-foot property, located in a major logistics hub, is leased and occupied by FedEx Ground for a 10-year term.
Fitch: More U.S. Lodging Consolidation Is Expected
The growing power of industry leaders will drive more lodging consolidation, with Hyatt and La Quinta as desirable targets, per the rating agency’s most recent report on hospitality. Such growth strategies are also a way to balance the competitive environment disrupted by alternative accommodation operators.