News
Economy Watch: Real M-F Fixed Investment Grows
While GDP growth in general might seem sluggish, if you look closer, you’ll see that real residential fixed investment, such as multi-family structures, grew at 4.1 percent.
Dayton Housing Market Registers Strongest December Ever
The Dayton housing market continues to improve. According to a report from the Dayton Area Board of Realtors, home sales in the region finished strong in December. In fact, sales and average prices during December 2014 reached the highest level ever for any December in the Dayton area on record.
Duke Realty Taps JLL to Lease Cincinnati-Area Portfolio
Duke Realty Corp. has selected a new leasing team for its Cincinnati-area office portfolio. The Indianapolis-based real estate investment trust has hired Jones Lang LaSalle to find new tenants for all of its 19 buildings in the region.
Arlington County Approves 450-Unit Apartment Project
The Washington, D.C. area is about to get even more apartments. Last week, the Arlington County Board voted unanimously to approve the redevelopment of an old office building into more than 450 apartments.
Maysville Retail Property Draws International Bidders
Demand for retail assets in the Greater Cincinnati area is on the rise. And numerous buyers, national and international, are right now rushing to buy both single- and multi-tenant properties in the region. Most recently, a foreign investor has acquired the Maysville Shopping Center in Maysville, Kentucky.
Strategic Hotels ‘Breaks Record’ with Montage Laguna Beach Purchase
Strategic Hotels & Resorts Inc. has just turned the heads of everyone in the hotel real estate business with its acquisition of the 250-key Montage Laguna Beach in Laguna Beach, Calif.
CBRE Sells Legacy Heights Apartments to Cottonwood Residential
The multifamily team of CBRE Capital Markets announced another sale on behalf of an anonymous seller. The property in question is San Antonio’s Legacy Heights; the new owner is Cottonwood Residential of Salt Lake City, Utah. The price of the transaction was not disclosed.
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.