News
DivcoWest Buys 483 KSF Class A Office Complex in El Segundo, Calif.
DivcoWest has completed the purchase of Continental Grand Plaza, a two-building, 483,000-square-foot Class A office campus at 300-400 Continental Blvd. in El Segundo, Calif.
Carey Watermark Buys Manhattan’s Courtyard Times Square West Hotel for $95M
Carey Watermark Investors has made its second Manhattan acquisition, buying The Courtyard Times Square West, a 224-room select service hotel, for $95 million.
Economy Watch: Durable Goods, Manufacturing See Upticks; More Trucking Activity in April
U.S. durable goods orders for April were up 0.8 percent compared with March. Two regional manufacturing metrics were also up early this week. And trucking activity increased 1.5 percent in April.
Alliance Acquires 308-Unit High-End Community; HFF Arranges Sale of 3-Property M-F Portfolio Near Texas Medical Center
Phoenix – based Alliance Residential Company has acquired City Park (formerly The Retreat at City Park), a 308-unit, Class A multi-family community in Houston, from Fulton Property Group of San Antonio.
KONE Lease Kicks Off Development of 22.5-Acre Office Park in Allen
Houston-based Sentinel Capital has landed global elevator and escalator company KONE as lead tenant of the $26 million first phase of AllenPlace, a 22.5-acre master-planned office park in Allen.
District Reaches Deal with DC United for $300M Stadium
Washington, D.C., is getting a new soccer stadium. Mayor Vincent Gray announced on Friday, May 23, that the District has reached a business agreement with Major League Soccer’s D.C. United for a 20-25,000-seat stadium. The project will cost $300 million.
Pebblebrook Hotel Trust Expands in San Francisco with the $49 Million Purchase of The Prescott Hotel
As the Californian hospitality market continues on its upswing, a brand new hotel deal was perfected this week. Pebblebrook Hotel Trust recently purchased the Prescott Hotel in San Francisco for a total fee of $49 million. The new owner has also announced that the hotel will continue to be managed by operator Kimpton Hotels & Restaurants.
CVMC REIT Pays $211.7 Million for 250,000-Square-Foot Chicago Data Center
Carter Validus Mission Critical REIT Inc. has acquired the Chicago Data Center Facility in the Northlake suburb of Chicago for $211.7 million. The REIT will provide new capital for the continued build out and expansion of the facility.
City Office REIT Inc. to Acquire 197,000-Square-Foot Plaza 25 in Denver
By Gabriel Circiog, Associate Editor City Office REIT Inc. recently announced it has entered into an agreement to acquire Plaza 25 in Denver for a purchase price of $25.1 million. As major conditions to the acquisition have been satisfied, the transaction is expected to close in early June 2014. Located in the Greenwood Plaza submarket […]
Ground Broken on Pima Mine Road Solar Generating Facility
Construction has started on the Pima Mine Road Solar Generating Facility. The developer, Avalon Solar Partners recently hosted a groundbreaking ceremony, marking the mid-May beginning of the site works.