News
Crescent Communities Completes Sales of Two Multi-Family Properties to Berkshire Group Affiliate
by Adriana Pop, Associate Editor Charlotte-based Crescent Communities recently sold the 303-unit Crescent Ninth Street apartment complex in Durham. According to the Triangle Business Journal, a Berkshire Group affiliate paid $77 million, or approximately $254,000 per unit, to acquire the property. In another recent transaction, the company purchased the 282-unit Crescent Cameron Village apartment community on […]
Honeywell Completes $33M Expansion Project in Baton Rouge
Honeywell Performance Materials and Technologies announced last month the completion of a $33 million modernization project to extend the life of its chemical and refrigerant gases manufacturing facility in Baton Rouge.
Economy Watch: Retail Activity; Fed on Interest Rates; ADP on Jobs
Retail recovery is recovering at a snail’s pace. The Fed is unlikely to raise rates at its January or March meetings. U.S. private-sector employment increased by 241,000 in December.
Tucson Realtor First to Legally Conduct Aerial Real Estate Photography
On January 6, the Federal Aviation Administration issued a permit to Douglas Trudeau in Tucson for operating a drone in order to shoot real estate listing photos and videos. The Tierra Antigua Realty agent is the first realtor in the United States approved by the FAA to fly an unmanned aircraft system.
Crocker Partners, Cornerstone Bringing Big Changes to Boca Raton
Crocker Partners and Cornerstone Real Estate Advisers have bought Boca Center in Boca Raton and they have big changes in mind.
Return of the King: NYC Takes Back Global Investment Crown from London
The results are in for AFIRE’s 23rd annual survey of foreign investors in real estate. Multi-family is in favor, though Washington, D.C., is slipping.
Three-Story Downtown Lofts Near Historic District Opens for Renters
In downtown Las Cruces there’s a new apartment complex ready to receive its residents. The Lofts at Alameda, a 38-unit, three-story residential community, a $3 million development, recently received the certificate of occupancy from the city and is ready to rent starting this month.
Mercedes-Benz USA HQ Finds New Home
New Jersey’s loss is Georgia’s gain, as the German automaker decides to relocate its headquarters to a warmer climate.
Trammell Crow, MetLife Ride Dallas’ Tight Office-Market Wave
In order to take advantage of Dallas’ tight office market due to expansion of major companies, Trammell Crow Co. and MetLife Inc. have teamed up to build a mixed-use project.
Brookdale Revealed as Buyer of 777 Main in Fort Worth
A local Fort Worth newspaper reported that the Brookdale Group was the unnamed buyer of the 980,000-square-foot office tower in downtown Fort Worth, sold by Cousins Properties amid a tenant lawsuit.