News
Seven C’s Takes Rancho Bernardo Asset
Via Frontera Business Park in the Rancho Bernardo submarket of San Diego was recently acquired by Seven C’s Group, LLC for a total of $10.5 million. The transaction was arranged by Mark McEwen, Ted Cuthbert, and Matt Zimsky of Colliers International’s San Diego office. McEwen noted that the property provides its new owners with the “opportunity to acquire an institutional business park in a desirable location.”
Lucas Moves Forward on $150M Affordable Housing Project
George Lucas is set to heavily invest in the development of the San Francisco Bay Area’s largest affordable housing project. The endeavor is projected to cost upwards of $150 million, with the creator of the Star Wars franchise set to pay for the project in its entirety. This will allow the developer to allocate the housing units that will be made available at the Grady Ranch site in Marin County to specific groups of people such as firefighters, teachers and nurses.
Agora Realty Buys Fiesta Plaza
The Fiesta Plaza retail center in North Las Vegas was recently acquired by West Coast-based entity Agora Realty & Management. The buyer paid the private seller a total of $12,950,000 for the grocery-anchored shopping center, and then subsequently signed on a brand new tenant on a ten-year lease. It was recently reported that publicly-owned Conn’s Electronics will be taking over roughly a quarter of the total space available at Fiesta Plaza. Leasing activity at the newly acquired property will be handled by Las Vegas-based ROI Commercial Real Estate.
Bell Partners Shells out $250M for Apartment Property in Metro Denver
Bell Partners Inc. of Greensboro, N.C. has acquired a 1,206-unit apartment community in the metro Denver area in of the largest multifamily transactions in Colorado history.
Avison Young Boosts Midwest Offerings
Canadian-based Avison Young is expanding its Midwest United States business and service offerings.
International: Redevelopment of Moscow Stadium Continues Despite Economy
Russian financial institution VTB Bank is continuing work on a large development project in the country’s capital, in spite of its financial sanctions.
Proposed Superskinny Tower in Midtown East Boasts Unique, Full-Floor Green Spaces
As New York City is running out of buildable space, “superskinny” or “pencil” structures are becoming more and more popular when it comes to new construction projects.
Pizzuti Launches Sales Operation for 80 Condos in Bulfinch Triangle
The North End is emerging as one of Boston’s most desired residential areas, and developers have responded optimistically to the growing demand for apartments in this dynamic neighborhood.
JMG Realty, Empire Square Group Acquire 482-Bed Student Housing Community in Chicago’s West Side
A joint venture between Atlanta-based JMG Realty and Empire Square Group of New York City has purchased Automatic Lofts, a 482-bed student community on Chicago’s West Side.
Savills Studley Bolsters Silicon Valley Presence
Savills Studley has its sights sets on expanding its tenant representation.