News
INTERNATIONAL: Central Equity Expands in Melbourne with Another Development
A leader and pioneer in Melbourne’s residential market, Central Equity continues to spread its wings in the city by tapping Brookfield Multiplex to build a residential tower in its CBD.
TRIA’s Progress Gives CRE Industry One More Reason for Optimism
The U.S. Senate’s passage of legislation reauthorizing the Terrorism Risk Insurance Act, on Thursday, has relieved a source of anxiety for the CRE sector as the new year begins.
HFF Arranges $32 Million Loan for New Ace Hotel in Chinatown
The ten-story building that housed the Salvation Army Chinatown Community Shelter is set to be redeveloped into a new Ace Hotel.
R.D. Olson Starts Construction on Hampton Inn & Suites in Glendale
A new hotel is set to take shape in Glendale, CA as R.D. Olson Construction recently announced that it has kicked off the building process for the Hampton Inn & Suites project. The Irvine, CA-based contractor is working on the hospitality facility after being employed by developer Vista Investments, LLC in order to handle construction duties. The developer of the Hampton Inn & Suites hotel has slated the project for a spring 2016 completion.
Rainier to Contribute M-U Development to Fort Worth’s Growing Market
Rainier Realty Investments has grabbed an 18-acre site in the busy Fort Worth submarket that it intends to transform into a multimillion-dollar mixed-use site.
Macy’s to Close Richmond Heights Store
Macy’s announced last Thursday, January 8, it will close its store in the Richmond Town Center, in Richmond Heights. The decision is just one of a series of initiatives meant to help the company evolve and keep up with the changing face of retail.
Tribune Media Sells 60-acre Property in Port Covington for $46.5M
Tribune Media Company sold a 60-acre property in Port Covington last month, for $46.5 million. The Chicago-based multimedia corporation expects the net proceeds to be approximately $30 million, after the deduction of transaction costs and taxes.
Leed’s Announces Additional Expansion at Westmoreland County Industrial Park
By Adriana Pop, Associate Editor Promotional industry manufacturer Leed’s is planning the construction of a 240,000-square-foot warehouse on a 28.11-acre site in Westmoreland County. The company has reached a six-month option agreement with the Westmoreland County Industrial Development Corp. to purchase the property. According to the Pittsburgh Business Times, the new facility, which will be […]
Preiss Picks Up Student Housing Property Near UCF in Orlando
The Preiss Co. isn’t waiting for the fall semester to go to the University of Central Florida.
Hines, Oaktree Buy Carlsbad Office/R&D Property
A Carlsbad, CA office/R&D asset recently traded hands as international real estate firm Hines moved to acquire the property along with a real estate fund managed by Oaktree Capital Management, L.P. The transaction for the property was completed for an undisclosed amount, and arranged by Greg Mills, Michael Lawrence, Ben Tashakorian and Alex Jize of Marcus & Millichap on behalf of the seller.