News
Octal Leases 130,000 SF of Industrial Space in West Chester, Opens First Plant in North America
OCTAL, a world leader in polyethylene terephthalate (PET) resin and integrated PET sheet manufacturing, is expanding its operations with the opening of its first plant in North America. The Muscat, Oman-based company has recently signed a lease for 130,720 square feet of space in the Greater Cincinnati area.
California Developer Pacrep Plans Second Condo-Hotel Tower in Waikiki
Los Angeles-based Pacrep LLC is planning the construction of a second luxury condo-hotel tower in Waikiki. According to the Pacific Business News, the City and County of Honolulu will not require an environmental impact statement for the $159.5 million, 280-unit project at 2139 Kuhio Ave.
Liberty Property Trust Kicks Off 20-Acre Office Project in Northwest Houston
Liberty Property Trust has broken ground on the first building at Legacy at Fallbrook, a 20-acre premier office development just south of the Southeast corner of Fallbrook Drive at Beltway 8, in Northwest Houston.
Greenberg Gibbons and Vanguard to Finally Break Ground This Year on $140M Foundry Row Project in Owings Mills
In 2012, Greenberg Gibbons and Vanguard Commercial Property Development announced their plans to start work on the $140 million Foundry Row development in Owings Mills. They immediately encountered opposition from neighboring developers, also working on important projects in the area. And, after years of fighting, they finally won.
Hotel 373 and the Historic Waldorf Astoria in Midtown Manhattan May Hit the Market
The luxury Hotel 373 and the Waldorf Astoria in Midtown Manhattan could hit the market soon.
Construction Is Underway at Northeastern’s $225 Million Academic Complex
Nearly four months after receiving BRA’s unanimous approval for a $1.6 billion master plan for development, Northeastern University officially broke ground last week on its much-anticipated Interdisciplinary Science and Engineering Complex (ISEC) at 795 Columbus Avenue in Roxbury.
W. P. Carey Acquires Siemens HQ in Oslo for $90M
W. P. Carey’s non-traded REIT CPA:18 acquired a new 166,000-square-foot office building from developer Oslo Business Park AS for $90 million.
Doughboy Square Multifamily Complex in Pittsburgh Nears Completion
The Doughboy Square Apartments, one of Pittsburgh’s new multi-family projects, is scheduled for completion this summer. According to the Pittsburgh Business Times, the 45-unit residential complex is rising on a 19,000-square-foot parcel on Butler Street, in the city’s Lawrenceville neighborhood. Upon completion, the 89,000-square-foot building will also feature a restaurant on the first-floor.
Belk to Spend $12M on CoolSprings Galleria Renovation and Expansion
Charlotte-based Belk, Inc. has announced plans for a grand $12.6 million renovation and expansion project for one of its Nashville stores, which will turn the location into the brand’s flagship in the metro Nashville region.
Economy Watch: Fourth Quarter GDP Growth Revised Downward; Fewer Homeowners Under Water; Pending Home Sales Down Since Last Year
In a second estimate for real U.S. gross domestic product in the fourth quarter of 2013, the real GDP increased at an annualized rate of 2.4 percent. The national negative equity rate dipped to 19.4 percent of all homeowners with a mortgage. But the Pending Home Sales index edged up to 95.0 in January.