News
FNB Tower Joins Raleigh Skyline
The $110 million, 22-story building developed by Dominion Realty Partners will encompass Class A office space, 240 residential units and street-level retail.
First Tru By Hilton Opens in Oklahoma City
This marks the chain’s 5,000th property, which was brought to market in 16 months from when it launched. The hotel is owned by Champ Patel at Champion Hotels.
Rexford Acquires, Sells Industrial Properties in CA
The company bought Safari Business Center in Ontario for $141.2 million and sold a two-building property at 2535 Midway Drive in San Diego.
Diamond Dealers Club Relocates to International Gem Tower
In a deal brokered by Extell Development, the diamond trade giant acquired a commercial condo on the tower’s 11th floor.
Rapid Growth in Raleigh-Durham
The metro continues to appeal to investors who are being priced out or struggling to find high acquisition yields in major markets. The combination of job and population growth has generated a strong demand for apartments, with average rents reaching $1,075.
Grandbridge Secures 221 KSF Minnesota Industrial Loan
The company arranged the five-year non-recourse, fixed-rate loan through Nationwide. The loan closed with an interest rate of less than 4 percent.
Stewart Promotes Tom Konkel to EVP
The commercial real estate industry veteran will also serve as director of commercial services. Konkel assumes this role after more than 25 years of working at Stewart.
Texas-Based Bank Opens First Office in South Florida
Woodforest National Bank is operating a temporary office at New River Center until July, when the new office build-out is scheduled for completion.
First Industrial Sells Two SLC Industrial Buildings
Newmark Grubb ACRES has arranged the sale of the two properties in Decker Lake Industrial Park in West Valley City, Utah, totaling 98,000 square feet. The company represented both the seller and the buyer.
Strategic Storage Acquires 510-Unit Facility in Sarasota, FL
The three-story structure includes 48,000 square feet of rental space. The SSGT portfolio currently consists of 19 operating self-storage facilities located in eight states.