News
Thorofare Capital Funds SC Office Building Acquisition
A joint venture between Insite Property and Eastern Federal Corp. will use the $16.3 million loan for the acquisition, renovation and stabilization of Albemarle Point Center in Charleston, S.C.
Enel Begins Construction on Peru’s Largest Wind Farm
The construction of the 132-megawatt wind facility, which will mark the company’s first wind project in the region, will set a subsidiary of The Enel Group back approximately $165 million.
College Adds to Solar System with Combined Solar and Storage
Santa Rose Junior College selected SunPower to deploy a fully integrated solar and storage project to add to its existing 77-kilowatt system that has been operating since 2007 atop the Frank P. Doyle Library.
Modera South Lake Union Awarded LEED Silver
The seven-story luxury apartment community is the first Mill Creek Residential property in Seattle to be awarded LEED certification.
Work Begins on Albuquerque’s Snow Heights Promenade
Snow Heights Promenade will feature a $45 million Entertainment Lifestyle center consisting of more than 127,000 square feet of retail space connected by an Entertainment Sound Stage placed in the center of the promenade.
New $40M Music Center Breaks Ground at Texas A&M
The 70,000-square-foot facility, renamed John D. White ’70–Robert L. Walker ’58 Music Activities Center, will replace the former E.V. Adams Band Hall.
Phoenix-Area Self-Storage Assets Find Out-of-State Owner
Marcus & Millichap’s The Mele Group arranged the sale of a 608-unit self-storage portfolio, offering 86,963 square feet of rentable space. The two facilities offer value-add opportunities.
Economy Watch Weekly: Middling Month for Job Creation
The number of jobs created in August was below this year’s average monthly gain, the Bureau of Labor Statistics reported. The month’s report did not include Hurricane Harvey’s impact on employment. Economy Editor Dees Stribling discusses the full report, for the week ending Sept 1., 2017.
Economy Watch: Large Banks Grow CRE Lending Faster Than Smaller Ones
In the second quarter, large banks increased their CRE loan portfolios by 2.56 percent, while medium-sized and community banks had more modest increases, according to a recent Trepp report.
Self-Storage Facilities Begin to Recover After Hurricane Harvey
Following the natural disaster that crippled Houston, businesses begin to recover, while also lending a helping hand. Extra Space Storage announces it has reopened the bulk of its properties in the greater Houston area.