News
Mayor Rawlings-Blake Opens Baltimore’s First New Recreation Center Built in the Last 10 Years
A new recreation center has opened in Baltimore this week. Called the Morrell Park Community Center, it is the first new recreation center built in the city in the last 10 years.
PREIT, Macerich $107 Million Investment to Redevelop The Gallery
The Gallery at Market East, one of Philadelphia’s largest urban malls that is located in the heart of the city, is about to get a major makeover. Pennsylvania Real Estate Investment Trust (PREIT), which owns the 1.4 million-square-foot property, announced this week a joint venture with Macerich to revamp the bleak mall into the city’s only multi-use property that will offer accessible luxury retailing in the Center City area.
Corktown’s $148 Million Lightweight Metals Research Hub Could Create 10,000 Jobs in the Region
Corktown—a symbol of the Irish-American community in the United States and Detroit’s oldest surviving neighborhood that is best known for its abandoned Michigan Central Station, the bygone Tiger Stadium and the annual St. Patrick’s Parade—is slowly making a comeback.
Major Amazon Lease Deal Tightens Pittsburgh’s Industrial Market
Seattle-based Internet giant Amazon.com is planning to expand its network of sortation centers with the opening of a new facility in Pittsburgh’s West End.
BH Management Buys 764 Nashville Apartments for $52M
BH Management Services, LLC (BH) has announced entering the Tennessee market with the takeover of three metro Nashville apartment communities featuring between 200 and 300 units and amenities such as swimming pools, fitness centers and sports courts.
Israel’s Clal Insurance Buys Chicago’s Harper Court Office Complex for $112M
The Tel Aviv-based company made its second purchase in the U.S. real estate market with the 225,000-square-foot Harper Court mixed-use office and retail complex in Chicago’s Hyde Park neighborhood.
Normandy Taps Transwestern to Lease 352 KSF Office Park in NJ
Normandy Real Estate Partners has hired Transwestern to be its exclusive leasing agent for Park Place, a 30-acre premier corporate office complex in Florham Park, N.J.
Former San Antonio Mayor Castro Sworn in as HUD Secretary
Julián Castro’s tenure as mayor of San Antonio should help him in his new role as the 16th Secretary of the U.S. Department of Housing and Urban Development.
Economy Watch: Case-Shiller Shows Smaller Home Price Rises; Consumers Peppier in July
The latest S&P/Case-Shiller Home Price Indices are following a pattern of slower increases. The Consumer Confidence Index improved once again in July.
Executives Think Globally, Offer Upbeat Outlook: CPE 100 Quarterly Sentiment Survey
By Paul Rosta, Senior Editor As commercial real estate becomes increasingly global, the latest CPE 100 Quarterly Sentiment Survey confirms that a growing number of industry executives are thinking beyond American borders. One-third of respondents to the second-quarter survey said the global real estate market has become more important to their business in the past 12 months, while half of respondents said the global market’s impact on their businesses remains unchanged. The executives surveyed said that investment and investment management offer the greatest potential during the next 12 to 18 months. Nearly six in 10 cited these sectors as offering…
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