News
Overbuilding in Richmond?
With almost 20,000 units in the pipeline—more than a third of which are under construction—the metro is at risk of overbuilding. As new stock is putting a damper on growth, Yardi Matrix expects rents to rise by 3.5 percent in 2017.
Uptown Charlotte Boutique Hotel Opens Doors
The Ivey’s Hotel features 42 luxury rooms located on the second floor of a historic building, which debuted as a department store in the early 1990s.
Opening of Waukegan Amazon Distribution Center on Track
The new facility bears the signature of Bridge Development Partners and is expected to be fully functional by the end of July 2017.
Atlanta-Area Office Campus Trades for $19M
Avison Young negotiated the disposition of the seven-building asset, while Lincoln Property Co. will handle the management and leasing assignment of the complex.
Copaken Secures Full Price for Kansas Flex Building
The 37,585-square-foot facility in Lenexa’s Pine Ridge Business Park sold for $4 million after being on the market for a year and a half.
RSC Architects Redesigns NJ Medical Unit
The firm has completed phase one of a multi-phase renovation plan at Englewood Hospital and Medical Center in Bergen County. Improvements included converting existing rooms into private patient rooms, and adding new waiting areas and care stations.
JLL to Continue Managing 866 UN Plaza
Located directly across from the United Nations headquarters, the office building’s tenant list includes missions, consulates and non-government organizations. The Carlyle Group purchased the office tower in April for $217.5 million.
Vince Camuto Moves to Shorenstein’s 1407 Broadway
The luxury retailer is consolidating two of its Midtown Manhattan offices and moving to the newly renovated building’s third floor. The move is expected to be completed by next spring.
BlueVolt Relocates Portland HQ
BlueVolt, an e-learning solutions company, has leased more than 9,000 square feet on the fourth floor of the Marquam Building. The firm is set to expand its team with several new hires.
NoCal Medical Park Trades in 1031 Exchange
Sinogap LLC has exchanged a Silicon Valley redevelopment site for a 21,008-square-foot multi-tenant medical dental office park in Milpitas, Calif., and an apartment community in San Jose, Calif.