News
Clinton National Airport’s Concourse Prepares for $20.6M Renovation
In 2007, the Little Rock Municipal Airport Commission authorized a study to determine the feasibility of constructing a new terminal that would cater to projected passenger demands and regulatory requirements. The study showed that instead of building a new terminal, the demands could be better met through an extensive renovation project.
Crescent Opens Model Home at 83-Site Master-Planned Community
Chapel Cove, Crescent Communities’ master-planned community on the shores of a Lake Wylie cove, is moving along with development.
MARKET SNAPSHOT: Flat is the New Up in Albuquerque
The Albuquerque Metropolitan Statistical Area is still lagging in its ongoing efforts to pull out of the deepest and longest recession since the 1930s. A growing list of casualties have included businesses that drowned because they couldn’t hang on any longer, those that pulled up stakes to try their luck somewhere else, and families who have left the state.
Murdock Plaza Becomes Part of Tishman Speyer’s Office Portfolio
A West Los Angeles office asset recently traded hands as developer, operator and manager Tishman Speyer move to acquire the property known as Murdock Plaza. The new owner is most likely set to carry out a renovation process in order to update the asset located at 10900 Wilshire Boulevard. The financial terms of the transaction were not disclosed but real estate data provider PropertyShark.com has the property valued at approximately $85 million. However, industry estimates place the transaction value at around $120 million. Back in 2007, the property traded for a similar fee, having been acquired for $125 million.
IREM Operating Expenses Study: Mixed Bag of Results for Federally Subsidized Properties
In the post-Great Recession climate, federally subsidized housing is perhaps more important than ever. But aside from high demand, the year-over-year benchmarks for the various forms of this housing class are anything but consistent.
Officials Unveil Major Brownfield Redevelopment Project at Pittsburgh International Airport
A public private partnership involving Pennsylvania, Allegheny County and the Allegheny County Airport Authority is planning the construction of an international trade center complex right next to Pittsburgh International Airport.
Dominion Mortgage Introduces New M-F Lending Program
Dominion Mortgage Corp. has launched a new multi-family portfolio lending program with a wide variety of products.
Zillow: Homeownership Surpassing Renting in Affordability
While homeownership is more affordable than renting for much of the country, saving for a down payment remains difficult for the Millennial generation due to rising rents, interest rates and home values.
Herrick Co. Buys 29 Walgreens
The Herrick Co. has bought a 394,236-square-foot portfolio of Walgreens stores located in 16 states and Washington, D.C.
Economy Watch: U.S. Existing Home Sales, Manufacturing Production Levels
The National Association of Realtors reports that home sales are at the highest level for 2014, while the Markit Flash U.S. Manufacturing Purchasing Manager’s Index shows an unexpected rise for July.