News
InterContinental to Bring Boutique Hotel Indigo Brand to Denver
InterContinental Hotels Group (IHG) has recently signed the first Hotel Indigo property in the state of Colorado.
Duke Realty Completes $1.1B Sale of Office Portfolio in Triangle, Three Other Markets
Duke Realty Corp. has closed on the previously announced $1.12 billion disposition of its entire office portfolio in the Triangle and three other markets, including Nashville, St. Louis and South Florida.
Petco Park’s $250M Neighbor Nears Construction Start
The end of March saw Civic San Diego approve a development project near Petco Park, with construction set to commence later this month. The Ballpark Village development is one of the city’s largest planned housing projects, and is estimated at around $250 million. JMI Realty, the company responsible for the development of Petco Park, is partnering with Lennar Homes on the development of the master-planned district. Ballpark Village is located in the vicinity of the arena – currently the home of the San Diego Padres – that opened 11 years ago this month.
FirstService Residential is Nevada Trails’ New Manager
FirstService Residential recently expanded its management portfolio as the company secured the property management contract for a Las Vegas area residential community. FirstService is adding the 1,000+ residential units of the Nevada Trails community to its 50 million square-foot property management portfolio. The Florida-based real estate services provider took over management duties at the community starting April 1.
Economy Watch: ULI—Healthy Real Estate Markets Through ’17
The Urban Land Institute Center for Capital Markets and Real Estate predicts the real estate industry will expand through the next couple of years.
Colliers: Recovery Shows Staying Power
The recovery has plenty of gas left in the tank, and investment sales in the nation’s largest office market are on track for their best year since 2007.
Second Value Place Extended-Stay in Atlanta Opened
Value Place announced the grand opening of its second location in the greater-Atlanta metro area. The newly constructed 124-room extended-stay hotel is located at 2877 Dresden Drive in the Chamblee submarket; the event was held on Wednesday, April 1. This is the brand’s ninth facility in Georgia.
PennySaver HQ in Brea Acquired by Intercontinental Real Estate Corporation
The current headquarters of PennySaver USA Publishing LLC recently traded hands in a deal arranged by real estate company HFF. The property is located in the North Orange County Brea/La Habra submarket, southeast of Los Angeles. The selling entity, a joint venture between Cohen Asset Management Inc. and American National Insurance Company, was represented by HFF.
Phillips Edison Grabs 3 Properties
The buying binge and the entrée into new markets continue for Phillips Edison Grocery Center REIT II with its most recent acquisition.
International: Skanska Adds Office Space to Urban-Escape District in Stockholm
Skanska Sweden has inked an agreement to rebuild and expand an office component of the Urban Escape district in the Swedish capital.