News
RECon Speakers Tackle Retail’s Tough Issues
Industry veterans address oversupply, mixed-use development strategy and caveats during day one of ICSC’s annual retail real estate convention in Las Vegas.
$325M San Diego Mixed-Use Project Underway
A joint venture affiliated with Hammer Ventures recently acquired a former post office property in the city’s Point Loma/Midway district, which it plans to develop into a mixed-use project tentatively called The Point.
RNY Property Trust Continues NY-Area Disposition Plan
The REIT selected Cushman & Wakefield to market the sale of its six-building Westchester County portfolio. It most recently sold 555 White Plains Road in Tarrytown, N.Y., marking the company’s third sale in this portfolio, this time to Mack-Cali Realty-owned Robert Martin Co.
New Embassy Suites by Hilton Opens in San Antonio
Embassy Suites by Hilton San Antonio Brooks is located at the former Brooks Air Force Base, a redevelopment of the former 1,700-acre military facility into a live, work, learn and play community.
San Jose Office Building Trades for $82M
The 155,000-square-foot facility changed ownership for the third time in two years. The previous owners acquired the property half a year ago.
Stadium Square in Baltimore Lands First Tenant
Caves Valley Partners’ $275 million redevelopment project includes 650 luxury apartments, 300,000 square feet of office and 70,000 square feet of retail space.
Biggins Lacy Expands to Bay Area
Biggins Lacy Shapiro & Co. has opened its first West Coast office in Walnut Creek, Calif. Andy Shapiro will manage the new branch, located in the first building of Treat Towers.
Ackerman & Co. Inks Lease at Atlanta-Area Office Building
The property is part of the 300,000-square-foot Phoenix Office Park and will be fully occupied by the new tenants.
Economy Watch: State Unemployment Rates Reach New Lows
Jobless rates were lower in April than in March in 10 states, stable in 39 states and D.C., and higher in only one state, according to the Bureau of Labor Statistics. Colorado’s unemployment rate of 2.3 percent is the lowest rate since the BLS began reporting these numbers in 1976.
NAIOP Index Tips Upward for First Time in 2 Years
The semi-annual survey indicates that CRE players are optimistic about the conditions of the real estate market, especially when it comes to employment growth and occupancy rates for new projects.