News
Tishman Speyer Buys 233 KSF London Office
London calling. Tishman Speyer acquires its second office property in the U.K. capital in three months with the purchase of The Point, a 232,800-square-foot office building in the Paddington area of the city’s West End.
INTERNATIONAL: Mace to Oversee Maintenance at Admiralty Extension in London
Mace has been appointed as project manager to oversee the design and refurbishment of 193,750 square feet of office space at the Old Admiralty, a government estate, in London.
IKEA Eyes Spring Valley for First Las Vegas-Area Store
IKEA has announced that it is developing a brand new Las Vegas-area store, part of its current initiative to significantly expand its operations in the western United States. The Swedish retailer has reportedly filed paperwork with Clark County, Nevada for the construction of a new facility that would be completed by 2016, just 13 miles away from downtown Las Vegas.
Transwestern Awarded Leasing, Management of 2.2 MSF Office Complex in Detroit
Two months after the $177.5 million sale of the five-building, 2.2 million-square-foot Southfield Town Center in Michigan, Transwestern has been retained to lease and manage the trophy office property in the Detroit metro area.
Thor, Taconic Sign Samsung to Long-Term Lease in NYC’s Meatpacking District
Samsung Electronics North America has signed a long-term lease for all of the nearly completed 837 Washington St. in New York City’s Meatpacking District.
Economy Watch: Beige Book: Economy Still Growing; Homebuilders Optimistic Again; Industrial Production Edges Up
According to the latest Beige Book, all 12 Federal Reserve Districts reported expanding economic activity. Builder confidence in the market for single-family homes rose four points. And U.S. industrial production increased 0.2 percent in June.
Oak Residential Partners Acquires Multi-Family Property for $33M; Liberty Property Trust Plans Speculative Industrial Park in Durham
Oak Residential Partners LLC of Deerfield, Ill. is the new owner of the Evergreens at Mount Moriah, a 268-unit garden-style apartment community in Durham.
Mayor Holden Celebrates Completion of $27.8M Staring Lane Project
Good news for drivers going through East Baton Rouge Parish. Mayor-President Melvin L. “Kip” Holden hosted a ribbon cutting ceremony on July 9, at the General Assembly Church of Baton Rouge, at 420 Staring Lane, to mark the completion of the Staring Lane project. At a cost of $27.8 million, the project is one of the largest road construction projects included within the Green Light Plan.
Property Management Company Renters Warehouse Signs Franchise in Tucson
Renters Warehouse USA has recently signed four new franchises, one of which operates in Tucson. This is the company’s second agency in the state, as Renters Warehouse Arizona has been active in Phoenix since the inception of the parent company.
New Mexico’s Burrell Family Funds $85M Private Medical School
February 2015 will be the start month for the construction of an $85 million private medical school, backed by Santa Fe real estate and mining mogul Dan Burrell and his family. Over the course of 60 years the Burrells will make a $30 million donation to the New Mexico State University Foundation.