News
INTERNATIONAL: URBN Shanghai Reopens After Renovations
Cachet Hotel Group has reopened URBN Hotel, Shanghai’s award-winning eco-boutique hotel, following a series of renovations.
Commuters Rejoice: Proposed Sky Gondola to Alleviate Traffic, Reduce Travel Times Between Manhattan and Brooklyn
An online real estate company wants to jazz up New York City’s soaring transportation system by proposing an innovative solution: an urban gondola that would run—scratch that, float—between Brooklyn and Manhattan, and possibly even Queens.
$30 Million Boutique Hotel Planned for Bulfinch Triangle
A 3,600-square-foot lot that used to house a Bank of America branch in Boston’s growing Bulfinch Triangle Historic District will be replaced by a boutique hotel developed by Woburn-based Somnath Hospitality LLC.
The Verde at Howard Square is Maryland’s First LEED Platinum Apartment Community
The Verde at Howard Square has recently received LEED Platinum certification from the U.S. Green Building Council. This makes it the first LEED Platinum-certified apartment community in the entire state of Maryland.
Aberdeen’s Advantage Business Park Sells for $31M
CBRE has recently announced the sale of another important industrial property in the Greater Baltimore area. Advantage Business Park, an industrial bulk warehouse located at 504 Advantage Way, in Aberdeen, sold for $31 million, affirming once more the strength of Baltimore’s I-95 North submarkets.
Joint Venture To Redevelop Historic Downtown Baltimore Buildings into New Lofts
The Poverni Sheikh Group is involved in the redevelopment of another Baltimore historic property. In January, the company announced it joined forces with Management Restoration Services LLC to turn the Raffel Building, an abandoned warehouse at W. Heath Street, into upscale apartments. Now, together with Meisel Capital Partners, it has formed a joint venture called Central Savings Bank Shops & Flats, for a historic commercial-to-mixed-use conversion project in the city’s downtown.
Retrofitted Historic Building in Downtown Indianapolis to Bring Hotel, Apartments
Downtown Indianapolis is becoming increasingly attractive to the boutique-hotel market.
JLL Brings Maureen Ehrenberg Aboard Integrated Facilities Management Business
JLL has just tapped Maureen Ehrenberg, formerly global director of facilities management at CBRE, to serve as executive managing director for the firm’s Integrated Facilities Management business in the Americas.
Morningstar to Move NYC Office to 4 WTC
Morningstar Inc. has signed a 10-year, 30,000-square-foot lease at 4 World Trade Center and will move to its new 48th-floor space in mid-2015.
Rexford Industrial Acquires Fully Leased Industrial Property in San Fernando Valley for $30.5 Million
Southern California’s industrial market is clearly improving lately and Rexford Industrial Realty Inc. is also jumping on the bandwagon. The real estate investment trust recently announced the cash-funded acquisition of 9120 Mason Avenue in Chatsworth, CA for a reported fee of $30.5 million. The company specializes in owning and operating industrial properties located in SoCal infill markets.