News
MARKET SNAPSHOT: Apartment Boom Underway in Indianapolis, Vacancy Up
Indianapolis continues to witness an exceptional inventory increase of multi-family housing units this year, amid moderate employment growth and rising home sales.
Liberty Property Trust Renews 196KSF Industrial Leases in Charlotte
Liberty Property Trust, an $8.4 billion office and industrial property REIT, has announced renewing multiple leases across its Charlotte portfolio, keeping its occupancy steady 99 percent.
Northwestern Mutual Provides Mortgage Loan Worth $140 Million for Levi’s Plaza
The global headquarters of world-famous clothing brand Levi Strauss & Company was recently involved in a financing deal worth $140 million. The mortgage loan was provided by Northwestern Mutual, a real estate investment firm that deals with commercial mortgages, equities and securitized investments comprising all property types. The loan was taken on behalf of a group of investors that includes Gerson Bakar, Diane B. Wilsey and Interland.
Staples to Cut 225 Stores as Sales Move Online
If you can get what you want online, why go to the store? At least, that’s what an increasing number of Staples’ customers are asking themselves, and the office supplies giant is responding to the trend.
IHG to Develop 2 Additional Hotels in Germany
InterContinental Hotels Group has signed two additional hotels in Germany under two existing multiple development agreements with long-standing partners.
Economy Watch: Moderate Job Growth in February; Household Net Worth Hits Record Level; Negative Residential Equity Shrinks in ’13
The modest increase in U.S. jobs continued in February, with the addition of 175,000 positions. Household net worth increased again in the fourth quarter of 2013 to a record level. And 4 million U.S. mortgage holders returned to positive equity in 2013.
Colab Space The Creative Block Kicks Off Construction in Downtown Baton Rouge
The revitalization of downtown Baton Rouge continues with a trendy new spot: The Creative Bloc, an 11,500-square-foot collaborative workspace and multimedia production hub.
Forsythe Technology to Build 221K SF “Retail Plus” Data Center Colocation Facility in Elk Grove Village
IT infrastructure Forsythe Technology recently announced it plans to design and build a state-of-the-art data center facility in Elk Grove Village, Illinois. The new 221,000-square-foot data center aims to address the needs of enterprises that are seeking for the best of both the retail and wholesale colocation data center markets.
Five Welton Street Projects Win $475,000 in Planning Grants Through the Welton Design / Development Challenge
Denver Mayor Michael B. Hancock and the Denver Office of Economic Development recently announced the winners of the very first Welton Design / Development Challenge, a new grant-making approach which aims to provide momentum to revitalize one of Denver’s most historic neighborhoods.
Orlando’s First Community Solar Farm Started Production in OUC’s Gardenia Campus
ESA Renewables has recently announced the completion of the first community solar farm in Orlando. The 2.5-acre array has a 400 kW output and as a community solar farm, it is only the second of its kind in the whole of the Sunshine State.