News
NorthPoint to Redevelop Former General Motors Property in Ohio
RACER Trust has sold a 173.5-acre site adjacent to the General Motors Lordstown Assembly Plant in Lordstown, Ohio, to NorthPoint Development, which will transform the formerly vacant property into a 1.5 million-square-foot industrial park.
Avison Young to Acquire Colliers Affiliate in Miami
In the latest in its ongoing string of acquisitions, Avison Young will purchase Miami-based CRE brokerage and property management firm Abood Wood-Fay Real Estate Group (doing business as Colliers International South Florida).
Shubin Nadal, DRA to Rebrand 800 KSF Office, Industrial Property in L.A.
Shubin Nadal Realty Investors has teamed with DRA Advisors on the acquisition of the 44-acre Harman International Business Campus located in the heart of the San Fernando Valley area of Los Angeles, and will rebrand the property as “The Campus.”
Economy Watch: Oil Prices, Home-Price Increases
The worldwide price of oil continued its fall over the weekend, and slipped further on Monday. Home-price increases dropped 0.3 percent from August to September.
INTERNATIONAL: Hard Rock Hotel Dubai Marina to Open in 2015
Hard Rock International, Abu Dhabi Financial Group and Sheffield are building a Hard Rock Hotel on the first 33 floors of Dubai’s Marina 101 tower.
Massachusetts Ballot Initiative Opens Door to $800M MGM Resort in Springfield
Two days after voters gave a thumbs down to a ballot measure repealing the 2011 law that allows gaming resorts in the state, the Massachusetts Gaming Commission approved a license to MGM Resorts International to operate MGM Springfield, an $800 million resort casino.
TA Associates Buys 272 KSF Office Tower in Iselin, NJ
TA Associates Realty has acquired 99 Wood Ave. S., a 272,000-square-foot trophy office building in Iselin, N.J.’s resurgent Metropark office market.
CBRE Secures $100M Loan for Netflix HQ in Silicon Valley
The Debt & Structured Finance team of CBRE Capital Markets has secured a $100 million construction loan for The Grove, in Los Gatos, Calif.
Economy Watch: Jobs Growth, Home Sales
The gains in U.S. employment in October were fairly widespread across various industries. Existing home sales are expected to be higher next year and prices will remain at a healthier level of growth, according to NAR.
Simon Breaks Ground on M-U Commercial Center in Tucson Suburb
Simon Property Group has broken ground Friday morning on Tucson Premium Outlets, a 366,000-square-foot mixed-use commercial center in Marana, Ariz.