News
Zero Energy Buildings to Become Big Business in Future
Navigant Research predicts the market’s annual global revenue will skyrocket to $1.4 trillion in 2035.
Penguins, Local Officials Reach Major Redevelopment Deal for Ex-Civic Arena Site
The Pittsburgh Penguins hockey club has reached an agreement with the City to redevelop the 28-acre site of the now-demolished Civic Arena, the team’s former home in the Hill District.
INTERNATIONAL: Prologis Adds 2.5 MSF in Eastern Europe
Prologis recently considerably expanded its portfolio with a number of acquisitions carried out in the Czech Republic, Poland and Slovakia.
Office Properties in San Francisco Sell for Over $700M
San Francisco’s office investment market continues to sizzle, with two more high-profile sales closing.
Metro Washington Data Center Goes to JV in $188M deal
Affiliates of Digital Realty Trust and Griffin Capital Essential Asset REIT embark on a joint venture to acquire a data center in Virginia.
Officials Delay Vote on Parcel Eyed for Global Business District; Triple Five Markets Site Near Riveria
With the ever-referenced economic comeback of Las Vegas still underway, the city is starting to cover the scars left by the downturn. Recently, massive strands of land caught the investors’ attention as it was revealed that the Las Vegas Convention and Visitors Authority is seeking to acquire an important land parcel near the Las Vegas Convention Center. Meanwhile, one of the largest proposed Strip projects of the past decade is officially history as the owner has rolled out a large amount of land at $16 million an acre.
Economy Watch: Rules for Very Large Banks; Home Prices
A member of the Board of Governors of the Federal Reserve said that the central bank wants to change regulations governing too-big-to-fail banks.
Drexel Launches RFP for Revolutionary Innovation Neighborhood in University City
As city authorities across the country try to boost business investment and encourage companies to relocate or consolidate their local footprint, a new economic development concept is taking shape. It’s called “innovation district” and it promotes the exact opposite idea of the Silicon Valley office park model: instead of having an isolated corporate campus located outside the city, local authorities—along with universities or big employers—are now looking to revitalize neglected areas within city limits and turn them into veritable neighborhoods where professionals can live and work.
Highwoods Properties Launches $59M Seven Springs West
Raleigh, North Carolina-based Highwoods Properties, a publicly traded, fully-integrated REIT has announced it will be proceeding with the development of Seven Spring West, a 203,884-square-foot LEED-certified, multi-tenant office building.
Detroit Wayne Mental Health Authority, Commomwealth/McCann Relocate Local HQs Closer to Downtown Detroit
What seemed almost impossible a few years ago is turning into reality: Detroit is no longer a ghost city, as the long list of vacant and desolate real estate properties are coming back to life.