News
First Potomac Realty Trust Improves D.C.-Area Office, Business Park Portfolio
First Potomac Realty Trust is improving its portfolio of office and business park properties in the greater Washington, D.C. region. The real estate investment trust has recently paid $41 million for a Class-A office building in Reston, while selling its Corporate Campus in Ashburn for the exact same sum, in a separate transaction.
C&W: Manhattan Office Leasing Up 35% as Offshore Capital Chases Assets
Class A office properties are commanding nearly $1,300 per square foot and leasing volume hit 16.7 million square feet during the first half.
Economy Watch: Economy Creates 288K Jobs; Yellen Talks Interest Rates
The U.S. economy created a robust net of 288,000 jobs in June. Federal Reserve Chair Janet Yellen noted in a speech on Wednesday that easy money isn’t always a good thing.
Micros Systems Acquires 248 KSF Class A Office Building in Columbia, Md.
There’s no place like home, so Micros Systems decided to stay put and acquire its headquarters building at 7031 Columbia Gateway Drive in Columbia, Md., just outside of Washington, D.C.
Bascom/Oaktree JV to Purchase $250M in M-F Properties Throughout U.S.
The Springs Apartments in Southern California is the first multi-family acquisition made by a new JV formed between The Bascom Group and funds managed by Oaktree Capital Management to acquire $250 million in value-added multi-family properties.
Clarion Grabs 302 KSF Office Facility in Playa Vista, Calif.
Clarion Partners has purchased Latitude 34, a two-building office complex within the Playa Vista master-planned community in the Westside area of Los Angeles.
Scripps Memorial Hospital Encinitas Unveils $94M Expansion
The Scripps Memorial Hospital Encinitas in North County recently completed its high-profile expansion as an investment of approximately $94 million was finalized. The grand opening of the Leichtag Foundation Critical Care Pavilion was held on July 1st, marking the addition of the new emergency department and inpatient rooms to the existing facilities, as well as a number of other improvements. The name of the new facility was also announced during the opening ceremony, Leichtag Foundation being a local philanthropic organization that has contributed with a total in $10 million back in 2009.
Dornin Buys Seven Hills MOBs in Henderson
The Seven Hills Medical Center in Henderson was recently purchased by Dornin Investment Group in an all-cash deal. The buyer acquired the medical office buildings located in the planned Seven Hills community as part of a 1031 exchange arranged on behalf of both the buyer and seller by Jason Lesley of Colliers International.
Hines Receives LEED Platinum Certification for Williams Tower HQ
Hines Interests, LP has announced that their recently renovated headquarters in the Williams Tower has been granted the LEED Platinum Certification for Commercial Interiors, award given by the U.S. Green Building Council for outstanding ecological practices in the design of commercial, non-retail, spaces.
Tradition Senior Living Expands Prestonwood Property with Assisted Living, Memory Care
North Dallas will be home to a new four-story assisted living and memory care building through the initiative of Tradition Senior Living, LP. The new project represents an expansion to the current Tradition-Prestonwood, which opened in 2010, and it entails the development of 75 assisted living and 38 memory care apartments.