News
Economy Watch: Consumer Sentiment, Leading Economic Index Up in June
American consumers were a little more optimistic in June than in May, though not quite as much as economists had expected. The Conference Board’s leading economic index was up 0.3 percent in June.
U.S. Department of Defense Renews 606,575-SF Lease at Hoffman Tower II
The U.S. General Services Administration, on behalf of the U.S. Department of Defense, has recently renewed its lease for 606,575 square feet of space at Hoffman Tower II, in Alexandria’s urban center. The transaction represents the largest lease signed in the D.C. area this past year.
Pebblebrook Grabs The Nines Hotel in Portland, Ore.
In order to further expand its presence in downtown Portland, Ore., Pebblebrook Hotel Trust has acquired The Nines Hotel for $127 million.
Consolidated Investment Group Buys Student Housing Property in Tempe for $38.7M
Denver-based Consolidated Investment Group (CIG) recently announced the $38.7 million acquisition and refurbishment plan of a 225-unit, 640-bedroom student housing property located near Arizona State University in Tempe. Renamed Regents on University, the property formerly known as Block 1949 will be reconditioned before the beginning of the new school year.
Seeking 2014 Executive of the Year Nominations
CPE is seeking nominations for the 2014 Executive of the Year awards, and we want to hear from you! With a 16-year history, the CPE Executive of the Year awards recognize leadership, ingenuity, innovation and strategic thinking. Winners have helped shape the industry and guide it through good and difficult times. Determined by a vote among their peers, all top executives from across the industry, awards will include a winner and two honorable mention placements in each of 15 areas, plus an Executive of the Year and a Lifetime Achievement award. Nominations close on August 18, so visit https://www.surveymonkey.com/s/EoTYnomination2014 to…
Neyer Properties Plans Mini-Lifestyle Center In Green Township
Good news for west Cincinnati. Neyer Properties, a commercial real estate developer based in Evanston, has recently announced it will start construction this month on a 47,000-square-foot mini-lifestyle center in Green Township.
Berkadia Commercial Mortgage Arranges $13.2M for Acquisition of Two San Antonio Properties
Two properties located in and near San Antonio have been acquired through financing from Berkadia Commercial Mortgage LLC. The loans, totaling $13.2 million, have been arranged by the company’s Senior Vice President Andy Hill.
Developers Celebrate Groundbreaking of Ultra-Luxury Condominiums in Honolulu; New Senior Living Community Rising in Kapolei
By Adriana Pop, Associate Editor Construction on Park Lane Ala Moana, a $300 million ultra-luxury condominium complex fronting Ala Moana Boulevard in downtown Honolulu, is scheduled to begin within the next two months. According to the Pacific Business News, the development team, which includes The MacNaughton Group, Kobayashi Group, BlackSand Capital and landowner General Growth […]
$400M Week for Pacific Northwest: Madison Marquette Acquires Pacific Place Mall, Pebblebrook Buys The Nines Hotel
The Pacific Northwest’s commercial market has had one of its best weeks by the numbers as two properties in Portland and Seattle traded hands in deals worth a combined total of nearly $400 million. The Pacific Place Mall in Seattle and The Nines Hotel in Portland were the two properties acquired by Madison Marquette and Pebblebrook Hotel Trust respectively.
Cuyahoga County Finally Opens New Administrative HQs
The new Cuyahoga County Administrative Headquarters building is finally open for business. Cuyahoga County Executive Ed FitzGerald, County Council President C. Ellen Connally, and Fred Geis of Geis Companies were present on July 15, at 2079 East 9th Street, to celebrate the event. The new headquarters will be home to more than 600 county employees.
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