News
Carmike Cinemas Breaks Ground on 12-Screen Movie Theater at Las Estancias Development
Southwest Albuquerque has broken ground on a 12-screen movie theater at the new Las Estancias, a 79 acre development near Rio Bravo and Coors. This marks the entrance in a new era as it represents the first time in over five decades when the South Valley is getting the chance for a night out at the movies.
Coastal Construction Group to Build 25-Story South Tower for Condo Project
The same contractor will be in charge of construction at the second tower of the Marina Palms Yacht Club & Residences condo project that was assigned to build the first one back in 2013, according to the developers.
Stearns Weaver Miller Expands HQ, Signs Record Lease
Continental Real Estate Companies has landed the largest lease of 2014 in Miami’s Central Business District. Stearns Weaver Miller renewed its contract at Museum Tower for 10 years and expanded the footprint of its headquarters by 7,000 square feet. The law firm now occupies 110,000 square feet in the Class-A office building at 150 West Flagler Street.
Teagan Development to Redevelop Historic Industrial Complex in Indianapolis
A vacant portion of a massive industrial property at 1125 Brookside Avenue in downtown Indianapolis could soon be converted into a mixed-use structure with retail, restaurant and small manufacturing space.
Ashford Hospitality Trust Buys Memphis Marriott East Hotel for $43.5M
By Liviu Oltean, Associate Editor Ashford Hospitality Trust Inc. signed a definitive agreement to purchase the 232-room Memphis Marriott East Hotel for $43.5 million or $187,500 per room. According to an official statement, the acquisition price represents a trailing 12-month cap rate of 7.6 percent on net operating income. “This transaction was particularly attractive given […]
Hines Finds Buyer for Pointe Metro Office Property in Suburban Paris
Hines may have had trouble initially finding a buyer for its Paris-area asset due to the state of the market, but now a purchaser has appeared for the 256,000-square-foot office building.
Auction.com Launches National Hospitality Division
Auction.com has expanded its hospitality business with the formation of a new division focused specifically on the sale of hotel properties.
Carr to Develop Luxury InterContinental Hotel as Part of Phase One of The Wharf
Washington, D.C. is getting a new luxury, waterfront hotel. Carr City Centers Chairman Oliver T. Carr, Jr. announced on January 22 that his company has closed on a site for a 278-room InterContinental hotel. The project will be part of Phase I of the $2 billion Wharf mixed-use development.
Fundrise Markets 3 WTC Investment Opportunity
Fundrise is giving individual investors a chance to own a piece of 3 World Trade Center for as little as $5,000.
Industrial Portfolio Brings Investors South of the Border
As manufacturing bounces back in Mexico due to cheaper labor, two companies have decided to take advantage of the upswing and buy a Class A industrial portfolio south of the border.