News
Tishman Speyer Expands Footprint in Boston
Tishman Speyer expects to break ground later this year on a mixed-use development with offices and luxury condos at Pier 4 in Boston’s hot Seaport District.
MedStar Health to Build New Ambulatory Care Campus in D.C.
MedStar Health announced last week it has signed a long-term lease agreement with Beacon Capital Partners, LLC, and is getting ready to start work on a new ambulatory care campus at Lafayette Centre, in northwest Washington, D.C. The cost of the project is $26 million.
Trammell Crow Co., Prudential JV Feed Chandler, Ariz.’s Hungry Office Market
Trammell Crow Co. and Prudential Real Estate Investors have answered Arizona’s growing demand for office space with the planned development of Mach One.
MetLife Acquires First Allied Plaza for $150M
MetLife Inc. has recently completed the acquisition of a downtown San Diego office tower for a reported purchase fee of $156.8 million. The San Francisco office of the insurance giant is now the new owner of First Allied Plaza in San Diego, after it acquired the property from seller Lone Star Real Estate Funds, a Dallas-based company. The transaction was completed with the help of brokerage Eastdil Secured LLC, who represented the seller.
Walgreens on the Strip Hits the Market
Marcus & Millichap recently announced that it has begun marketing for a Walgreens drugstore located on the famous Las Vegas Strip. The commercial real estate investment services firm has the exclusive right to offer the net-leased property up for sale. Although the price is currently set as open bid, the asset is set to fetch a purchase fee around the $40 million mark, industry specialists estimated. The selling entity is a joint venture that includes Harbor Group International
Pedcor Breaks Ground on Second Phase of Carmel’s Mixed-Use City Center
Construction on the second and final phase of the massive Carmel City Center redevelopment has begun.
Parkway Properties Sells 525 North Tryon for $60M
525 North Tryon, one of the iconic high-rises of the Charlotte CBD has traded hands, selling for $60 million or about $147 per square-foot
Asher Investments Takes Advantage of Denver’s Tight Apartment Market
Less than a year after the doors swung open to residents at Alta Harvest Station, an apartment community in Broomfield, Colo., Asher Investments has sapped up the 297-unit property from its developer, Wood Partners.
Hilton Plans Entree into Last Hampton-Less Bastion
Hilton Worldwide’s subsidiary Hampton Hotels has announced plans to open a 175-key property in Hawaii, the last U.S. state without a Hampton hotel to date. Construction on the project is expected to begin in mid-2015.
Starwood, KFK Team on Adaptive-Reuse Project in Downtown Dallas
To feed the hunger of the growing Downtown Dallas market, Starwood Hotels & Resorts Worldwide and KFK Group have teamed up to redevelop an older building into a Westin-managed hotel.