News
Target Corp.Chooses Memphis for the Development of $50M Online Fulfillment Center
Tennessee Gov. Bill Haslam, Community Development Commissioner Bill Hagerty and Target Corporation just announced that Memphis has been chosen for the development of a new, 900,000-square-foot , online fulfillment center. Target will be investing almost $50 million in the new facility, which will bring more than 400 jobs in Shelby County. The new facility, which has been slated to be operational by mid-2015, will be managed by Innotrac and will service the Southeast United States. Hiring is set to begin early 2015.
Crescent Communities Announces Groundbreaking for 550-Acre Master Planned Project
Leading real estate investment and operating firm Crescent Communities has announced it will soon be breaking ground on Masons Bed, a 550-acre master-planned community in Fort Mill, South Carolina.
BCB Buys Six-Building M-F Portfolio in Manhattan
An Upper West Side Portfolio, a group of six apartment buildings totaling 152 residences, has come under new ownership, courtesy of a transaction valued at approximately $81 million.
Crescent Communities Buys 2-Acre Site in Nashville’s Music Row to Build M-U Project
Crescent Communities has acquired a 2.1-acre site in Nashville’s iconic Music Row district with plans to develop a mixed-use community containing 275 luxury apartments and street-front retail space.
MetLife Acquires Fairmont Hotel in DC
The 415-room Fairmont Hotel in Washington, D.C., has changed hands, with MetLife, Inc. buying the luxury property from Ivanhoe Cambridge for $180 million.
Economy Watch: Retail Sales, Household Net Worth, Unemployment Claims
Retail and food services sales for November increased by 0.7 percent month over month. The net worth of U.S. households and nonprofits dipped slightly during the third quarter of 2014. For the week ending Dec. 6, initial unemployment claims decreased by 3,000 week over week.
Oxlean to Invest $2.1M to Expand Steel Fabrication Facility in Walker
Oxlean Manufacturing LLC announced this month it plans to invest $2.1 million, to expand and modernize its steel fabrication facility in Walker. The project will create 73 new jobs.
Heslin Holdings Acquires Kmart Retail Space for $4.4M
California-based Heslin Holdings, an investment and development firm, recently announced the purchase of a large piece of Rio Rancho’s Hilltop Plaza Shopping Center. The acquisition represents the retail space currently leased to Kmart, which nears the end of its lease agreement.
Subaru of America Seeks $180 Million in Tax Breaks to Relocate Headquarters to Camden
After almost three decades spent in the corporate headquarters in Cherry Hill, NJ, Subaru of America, Inc. has found a new home for its growing North American operations.
Nashville R2D2 Sells for $99M
One Nashville Place, the 393,328-square-foot Class A office tower in downtown Nashville that hit the market late this summer has sold.