News
Hines, AEW Capital Management JV Closes on Parc 114
A joint venture formed by Houston-based Hines and AEW Capital Management recently closed on Parc 114, a master-planned, business park in Irving. The acquisition entailed six industrial buildings that total at 404,777 square feet and an 18.5-acre plot that could accommodate up to 191,262 square feet.
Watergate Hotel to Open Next Summer
In just a few months, Washington, D.C.’s iconic Watergate Hotel will once again be ready to receive guests. Euro Capital Properties, an international real estate developer based in New York and the property’s current owner, has recently announced that the hotel is scheduled to open in summer 2015, following an extensive $125 million renovation.
$17 Million Transformation of Shuttered Public Works Facility Envisions Retail, Community Space
A former Department of Public Works building sitting vacant at the corner of West Vernor and Livernois in Southwest Detroit could see new life as a retail center and community space.
Oxford Development Breaks Ground on Mixed-Use Riverfront Project in the Strip District
Construction on a major revitalization office-and-apartment project in the city’s Strip District neighborhood is currently under way.
CBRE Expands Valuation Biz with Acquisition of IVI International
Let the consolidation games continue. Like all of the major commercial real estate services firms, CBRE Group Inc. continues to enhance its offerings through the procurement of smaller firms, and IVI International Inc. is the company’s latest acquisition.
INTERNATIONAL: Fujisawa Sustainable Smart Town Opens Near Tokyo
Japan’s Fujisawa City has gotten an eco-friendly and progressive community located on the outskirts of Tokyo, called the Fujisawa Sustainable Smart Town.
GLP Co-Invests with GIC on $8B IndCor Purchase
Global Logistics Properties Ltd. is making a big move into the United States industrial market by taking a 55 percent stake in a deal with GIC to buy IndCor Properties from Blackstone for $8.1 billion.
Trammell Crow, Clarion Break Ground on Phase Three of Industrial Project in Arizona
Trammell Crow Co. and joint venture partner Clarion Partners have started construction on the third phase of Coldwater Depot Logistics Center, a 187,000-square-foot, Class A speculative industrial building in Avondale, Ariz.
Economy Watch: Job Openings, Residential Asking Prices
There were 4.8 million U.S. job openings on the last business day of October. Nationwide, asking prices for homes jumped 1.5 percent month over month in November.
Economy Watch Weekly: November Good Month for Job Creation
Economy writer Dees Stribling offers his weekly roundup of indicators for the week ended Dec. 5
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