News
Jamestown Grabs 220 KSF Cambridge Office Building for $136M
Jamestown has enhanced its presence in metropolitan Boston with the addition of the Davenport Building, a 220,000-square-foot office property in Cambridge, Mass.
Industry Groups Unveil New Space Measurement Standard
A new international standard for measuring space in office buildings will lead to increased transparency and consistency in global commercial real estate markets.
MG, Florida East Coast Realty & Corigin Plan 60-Story Condo Tower in Miami
MG Properties, Florida East Coast Realty and Corigin Real Estate Group will team to develop 1201 Brickell Bay Drive, a 1.8-million-square-foot, luxury residential development on Biscayne Bay in Miami’s financial district.
Economy Watch: Residential Price Increases, Revised GDP Numbers, Household Debt
The deceleration of residential prices continues. U.S. real gross domestic product increased at an annualized rate of 3.9 percent in the third quarter of 2014. Aggregate U.S. household debt increased a bit during the third quarter of 2014
Mercy Health Dedicates Jewish Foundation’s $16M Gift to Expansion, Education
The Jewish Foundation of Cincinnati has donated $16 million to Mercy Health. The gift, the largest ever received by Mercy Health, will be used to expand the Jewish Hospital’s emergency department and to help grow the Graduate Medical Education program based there.
W. P. Carey Buys Pratt Plant in Lewisburg For $21M
W. P. Carey announced last week it has completed the $21 million sale-leaseback acquisition of Pratt Industries, Inc.’s manufacturing facility in Lewisburg, about 30 miles from Dayton. Pratt, one of the nation’s largest corrugated packaging companies, will lease the building on a long-term basis.
Hines, CBRE and Metro Commercial Properties Take Multiple BOMA Awards
International real estate investment, development and management firm Hines did it again! Its ever expanding list of achievements and awards grew even more impressive as the company recently received four prestigious awards from the Building Owners and Managers Association (BOMA), during their 2014 TOBY (The Outstanding Building of the Year) event.
Economy Watch Weekly: Housing, Interest Rates and Thanksgiving Travel
Economy writer Dees Stribling offers his weekly roundup of indicators for the week ended Nov. 21, with a focus on housing.
Grosvenor Americas Renovates 1701 Pennsylvania Ave., Adds Three New Tenants
Grosvenor Americas has recently completed the renovation of one of its properties in Washington, D.C. The trophy office building at 1701 Pennsylvania Avenue now features a new, modern HVAC system.
Ivanhoe Cambridge, Callahan Capital Buy 2 Seattle Office Buildings for $280M
The deal gives the Montreal-based investment firm about 13 percent of downtown Seattle’s Class A office market.