News
INTERNATIONAL: Skanska Secures Contract for Sports Hall, Supermarket in Stockholm
Skanska has inked an agreement for the construction of a new development project in the Huddinge municipality of Sweden’s capital.
Ashford Trust to Buy Lakeway Resort for $33.5M
The strong Austin economy and the sustained growth in the technological sector, mixed with increasing visitation, appeals more and more to investors. Recently, Dallas-based Ashford Hospitality Trust announced that it has signed an agreement to acquire Lakeway Resort & Spa for $33.5 million. The acquisition should close within the next 30 days, and Remington Lodging will take on the management responsibilities. The seller is the joint venture formed by Dow Hotel Co. and the Carlyle Group.
Fuyao To Put $130M More in New Moraine Plant
Fuyao Glass America Inc. plans to invest even more money in Ohio and add even more jobs. The company recently announced it has selected Moraine for its North American after-market automotive glass manufacturing. At the moment, all of Fuyao’s after-market glass production is located in China.
CBRE Adds UCR in Latest Expansion Effort
In order to strengthen its retail side, CBRE Group has acquired United Commercial Realty.
DTZ Represents ACH In Its Kentucky Portfolio Growth
DTZ helps Albanese Cormier Holdings acquire the Alexandria Village Green Shopping Center from Phillips Edison & Co to increase it’s Kentucky profile.
Pinnacle Development Investors to Develop Unique Luxury Residential Tower In Baltimore
Pinnacle Development Investors LLS plans to start work on a new, ultra-luxury residential tower within Baltimore’s HarborView Community. Called The Pinnacle, the project is unlike other residential developments, because the unit owners are also investors and developers.
Finmarc Management Sells Elkridge Warehouse Building for $12.5M
Finmarc Management, Inc., in partnership with Kodiak Properties, LLC, sold an Elkridge warehouse and distribution building last month, to Denver-based DCT Industrial Trust. The price of the transaction was $12.5 million.
Two South Florida Condominium Properties Sell for $12.6M
Windward Lakes Condominiums in Pompano Beach and Southwood Condominiums in South Miami-Dade changed hands recently, Franklin Street announced. The Tampa-headquartered commercial real estate firm completed the two bulk deals with Regional Managing Partner Deme Mekras and Senior Director Elliot Shainberg representing the buyers as well as the sellers in both transactions. The sales included a total of 178 units.
$25M Urban Park and Festival Plaza Make Waves in Westfield
Downtown Westfield will soon become a more vibrant destination with the construction of Grand Junction Plaza, a 10.5-acre park slated to rise southwest of Main and Union streets.
IKEA Seeks Approval for 260K SF Store in Memphis
IKEA is on the brink of increasing its southeastern US presence seeing as it has recently unveiled tentative plans for the development of a new, 260,000-square-foot store in Memphis. Contingent on receiving all governmental approvals, the store could open as early as Fall 2016.