News
First Ever Multifamily Property on Millionaire’s Row in Pasadena Trades Hands
The South Orange Grove Apartments recently traded hands in the Pasadena submarket. The residential property was sold for a price that exceeds the original listing price that was set at $9.5 million. South Orange Grove Apartments was acquired by a private investor from an entity of City Ventures.
Walgreens will Relocate Offices to Findlay, Add Hundreds of New Jobs
Walgreens Boots Alliance will soon move the offices of its specialty pharmacy division in Carnegie to a new facility built by Clayco Corp. in Findlay Township. Upon completion this summer, the project is expected to house between 300 and 400 new company employees.
Vacant Strathmore Hotel Gets New Life as Apartment Building
One year after getting $3.5 million toward redevelopment from the Michigan Economic Development Corporation (MEDC), the reconstruction effort at Detroit’s long-time vacant Strathmore Hotel took another step forward.
ClubCorp Acquires Ravinia Green Country Club in Chicago
Dallas-based ClubCorp, the largest owner and operator of private golf and country clubs in the country has recently acquired the Ravinia Green Country Club in Riverwoods, IL.
Holcomb Woods Business Park Picked Up by Rugby Realty Associate
New Rochelle, NY-based RexxHall Realty LLC, an affiliate of Rugby Realty, LLC has recently announced the acquisition of Holcomb Woods Business Park. The four single-story office buildings totaling 240,000 square feet are located in Roswell, North Fulton County along Georgia 400. The portfolio was 70% leased at the time of acquisition according to a written announcement released by the buyer.
Castle Lanterra Buys Apartment Asset in Baltimore’s CBD
RWN Development Inc., a Maryland-based company, has sold the apartment building at 222 Saratoga E. Saratoga Street, in the Central Business District, to Castle Lanterra. It is the New York-based company’s first acquisition in the Baltimore market.
Monument Realty will Convert Baltimore Office Building into Apartments
Before the end of 2014, Monument Realty purchased the office building at 225 North Calvert Street, in Baltimore. The D.C.-based company plans to turn the 400,000-square-foot property into Class A apartments.
Griffis Residential Gets $48.8M for M-F Community in Colorado Springs
Denver-based Griffis Residential recently announced the sale of Sagebrook Apartments, a 314-unit Class A residential community in northeast Colorado Springs.
North Carolina and Raleigh Reach $52M Agreement on Former Dix Hospital Campus
After months of negotiations, state and municipal leaders have reached a deal that paves the way for the creation of the city’s own Central Park.
Wampold Cos. to Demolish, Rebuild on 5.5-Acre Apartment Site
Baton Rouge is getting a new luxury apartment complex. The Wampold Companies has finally started work on the Bayonne at Southshore, a new, luxury, rental community on Stanford Avenue.