News
Economy Watch: Industrial Production Drops; Consumer Sentiment Unmoved
Overall industrial production decrease of 0.3 percent in January is blamed on the severe winter weather. And the preliminary Reuters/University of Michigan consumer sentiment index for February came in at 81.2, unchanged from January.
Gerding Edlen Tapped to Develop Kamehameha Schools’ Workforce Rentals in Kakaako
Kamehameha Schools has selected Oregon-based Gerding Edlen to develop the 209-unit workforce rental project, which will be part of the company’s previously announced $300 million Keauhou Lane mixed-use residential development in Kakaako.
Balfour Beatty to Oversee Energy Center Four Construction; Luxury M-F Complex to Break Ground in Energy Corridor
Joint venture partners Trammell Crow Company and Principal Real Estate Investors have selected Balfour Beatty Construction as general contractor for Energy Center Four, a 22-story, Class AA office tower in the heart of Houston’s booming Energy Corridor.
Cheddar’s Becomes First Office Tenant at Cypress Waters
Billingsley Company announced plans to break ground on a new office building at Cypress Waters, its 1,000-acre master-planned development that straddles Dallas and Irving. The new compound will serve as Cheddar’s Casual Café corporate headquarters.
Montgomery County Council Approves Zoning for Clarksburg Premium Outlets at Cabin Branch
A large retail development in Clarksburg, Md., has taken another important step towards it becoming a reality. On Tuesday, February 4th, the Montgomery County Council voted almost unanimously to support the development of Clarksburg Premium Outlets at Cabin Branch. It will be the county’s first fashion outlet center. Eight council members were for the project, while one abstained.
Mainstreet Property Group Announces Series of New Medical Resorts in Indiana
by Adriana Pop, Associate Editor National health care developer Mainstreet Property Group has announced a significant pipeline of new medical resorts for seniors over the next three years in Indiana. Combined, these developments are expected to create 3,000 permanent jobs, 8,400 temporary jobs, and generate an economic impact to the region of about $3 billion. […]
W. P. Carey Buys Self-Storage Property in Greater Orlando
W. P. Carey Inc. took a dynamic start this year, having recently announced that one of its publicly held non-traded affiliates, CPA®:18 – Global acquired two Florida self-storage facilities last month, one of which is located in the Greater Orlando, Fla. area.
Meda Consumer Healthcare Signs 11KSF Sublease in the Cumberland Area
The Meda Consumer Healthcare division of Meda Pharmaceuticals Inc. recently signed a sublease with Schawk Inc. for 11,041 square feet of office space in a building located at 1100 Circle 75 Parkway NW, in Atlanta.
Construction Started on 252,000 SF Industrial Project at Flagler Station
Site work on Building 34 at Flagler Station business park has kicked off recently as Flagler Global Logistics entrusted Miller Construction Company with the development of a new 252,000-square-foot industrial warehouse facility designed by the international architectural firm Ware Malcomb.
Slow Return
(quarterly change in mortgage debt outstanding, $ in thousands) By Jamie Woodwell Commercial and multi-family mortgage debt outstanding grew in the third quarter of 2013 by the largest amount since 2008. The level of commercial/multi-family mortgage debt outstanding grew by $25.2 billion in the third quarter, as all four major investor groups increased their holdings. That is a 1 percent increase over the second quarter. Total CMF debt outstanding stood at $2.47 trillion in the third quarter. Multi-family mortgage debt outstanding rose to $887 billion, an increase of $10.8 billion, or 1.2 percent, from second quarter 2013. Commercial banks continue…