News
Economy Watch: Middling Employment Numbers Keep Interest Rates Low Longer
The March employment numbers surprised on the downside, but oddly enough that could be a positive for the commercial real estate industry for a while.
NorthStar Wraps European Deal
NorthStar Realty Finance Corp. is the proud owner of a premier pan-European office portfolio.
International: Developer Lines up Ambitious Redevelopment Project for Toronto’s Waterfront
Toronto’s waterfront industrial area is set to be transformed into a new arts hub.
Straub Draws a Bead on Two Casinos
As of late last week, the Atlantic City buzz was all about a bankruptcy court order approving the sale of the shuttered Revel hotel-casino to Florida developer Glenn Straub. But by late Friday fresh news was unveiled.
BioMed Scores Major Leases on 2 Coasts
BioMed Realty Trust proves that life science real estate will only grow as the industry continues to thrive.
Multifamily Community Planned on Former Industrial Area in Southie
Several adjacent industrial properties located on a five-acre parcel near Andrew Square in Southie will be replaced by a housing complex by a team of development companies operating under the name DJ Properties LLC.
Opus Completes Work on Chicago Industrial Facility, Secures LEED Silver Certification
The Opus Group has recently completed work on a 335,000-square-foot food processing plant for Fresh Express in Streamwood, Ill.
San Bernardino Office Campus Acquired by Hines/Oaktree Joint Venture
A San Bernardino office portfolio was recently acquired in a deal completed by international real estate firm Hines. Part of a joint venture that it has created with a fund managed by Oaktree Capital Management LP, the company acquired the Inland Empire property from two investment funds managed by Rancon Real Estate. The Tri-City Corporate Center is now under the ownership of the JV, with the financial terms of the property not being disclosed. Industry analysts placed the estimated value of the deal at around $100 million. After the completion of the transaction, the property management duties at Tri-City Corporate Center will be handled by Hines.
Crescent Kicks Off Pre-Leasing for N. Scottsdale Property
Crescent Communities has started pre-leasing operations for the Crescent Scottsdale Quarter, a 275-unit, luxury apartment community in North Scottsdale. The residences are set to open doors this July.
Petrous, Moab to Reinvent 2800 Skelly Site as MOB
A shuttered office building at 2800 Skelly Dr. in Tulsa will be demolished to make room for a new office complex developed by The Petrous Group.