News
JV Acquires Portland Retail Portfolio
ScanlanKemperBard and Artemis Real Estate Partners acquired an 86,445-square-foot retail portfolio in the city’s Pearl District from Hoyt Street Properties. The properties are currently 94 percent leased.
Toyota Opens Expanded R&D Facilities in Michigan
The $154 million project moved direct procurement and supplier engineering development from Erlanger, Ky., as well as vehicle development and powertrain from California. The 40th anniversary also welcomed the company’s newest executive, Shinichi Yasui.
MedEquities Enters Master Lease, Pledges $11M for Las Vegas Hospital Expansion
The new agreement replaces the separate triple-net leases for two acute care hospitals in Las Vegas and two nursing facilities in Fort Worth, Texas, and Spartanburg, S.C., respectively.
C&W Welcomes Accounting Firm to St. Pete Office Campus
With the addition of accounting firm Spoor Bunch Franz to its tenant roster, the Glades Building is now 91 percent leased.
Houston Office Asset Lands $8M Refi
A crowdfunding real estate platform originated the 18-month mortgage to improve the overall returns and marketability of the property.
SoCal Investment Firm Nabs 2 Las Vegas Industrial Parks
CapRock Partners purchased two multi-tenant industrial parks totaling 203,134 square feet. The newly purchased assets are located less than two miles away from the Las Vegas Strip.
Watson Land Promotes Jeffrey Jennison to CEO
Jennison replaced Bruce Choate, who retired in March after 26 years with the company. In his new role, Jennison will oversee Watson’s portfolio and operations.
Economy Watch Weekly: Job Creation Rebounds in April
The U.S. economy created 211,000 jobs in April, a nice improvement from the mere 79,000 jobs created the month before. Economy Editor Dees Stribling breaks down the job growth by sector.
Homewood Suites by Hilton Opens Redondo Beach Property
The 184-key hotel is owned by Mogul Capital and managed by Evolution Hospitality. The property is less than five miles from LAX and Redondo Beach Pier.
Economy Watch: Construction Industry Loses Momentum in April
Despite April’s decline, the Dodge Momentum Index remains largely up, according to Dodge Data & Analytics. This suggests that construction activity still has room to grow in 2017.