News
INTERNATIONAL: CH2M HILL Consortium, Mace in Charge of Program Management at DWTC’s Jebel Ali Project
The bidding process is over, and the winners are a U.S. company and a U.K. company joint venture, which will oversee all real estate and construction delivery-related program management services for the Dubai Trade Centre Jebel Ali development.
Terreno Realty Makes Wise Move with Industrial Purchase in DC
Due to a lack of new Class A industrial buildings in Washington, D.C., San Francisco’s Terreno Realty Corp. is hoping for a high return on investment by acquiring a group of six distribution buildings in the nation’s capital.
Ivanhoé Cambridge Sells Interest in Two Ontario Shopping Centers
Ivanhoé Cambridge has completed repositioning its retail portfolio in Canada with the sale of its remaining 50 percent interest in two Ontario shopping centers to a healthcare pension plan.
HFF Closes $30M Sale of Crowne Plaza Hotel in Bloomington
HFF recently announced it has closed the sale of the Crowne Plaza Hotel & Suites in Bloomington, Minn., near the Minneapolis-St. Paul International Airport and the Mall of America.
Blackstone Buys Three Hotels, Parking Garage for $76M
Global investment and advisory firm The Blackstone Group has invested $75.7 million in New Orleans’ real estate, picking up three centrally-located hotel properties and a parking facility
Cleveland Arts and Social Sciences Academy Building Sells for $4M
The Cleveland Arts and Social Sciences Academy’s building on the city’s East Side is now under new ownership. The property was recently acquired for $4 million by American Education Properties.
Retail Properties of America Acquires Two More Washington, D.C.-Area Shopping Centers
Retail Properties of America, Inc. is expanding its Washington, D.C. portfolio of properties. The company has recently purchased two shopping centers in the metro area, for a total price of $121.5 million.
Walnut Capital Ready to Expand Office Component at Bakery Square 2.0
As the first office building currently under construction at the Bakery Square 2.0 mixed-use complex in Pittsburgh’s East End is almost completely leased, Walnut Capital is ready to embark on the project’s expansion.
Adaptive Reuse of the FLATS at Ponce City Market Nearing Completion
The adaptive reuse project including historic renovations of the formally named Sears, Roebuck & Company building is nearing completion. The landmark’s uppermost seven floors at the east and west wings were affected mostly, creating the new FLATS at Ponce City Market. Stevens & Wilkinson was in charge of the new design – the company is a full-service commercial architecture, engineering and interior design firm based in Atlanta and Columbia, S.C., New York-based Fogarty Finger contributed to the interior design.
Amtrak to Begin $12M Rehabilitation of Chicago’s Iconic Union Station
Mayor Rahm Emanuel recently announced that Amtrak plans to invest $12 million into much-needed rehabilitation work at Chicago’s Union Station.