News
CIM Group Acquires 7-Asset Portfolio from CW Capital
CIM Group has acquired a seven-asset portfolio headlined by Two California Plaza, a 52-story, Class A office building in downtown Los Angeles.
Economy Watch: Residential Foreclosures Still Slowing Down; SoCal Home Sales Down
January marked the 40th consecutive month where U.S. foreclosure activity declined on an annual basis. And the bellwether Southern California residential market logged its lowest January home sales in three years.
New Construction Phases Beginning in Providence Golf Community
Providence luxury gated golf community in Davenport is facing a significant gain as a group of developers answer the demand for new construction. Beside the community’s main developer, ABD Development, builders currently constructing new homes in Providence include Park Square, Lennar, Richmond American and D.R. Horton.
Vesta Solidifies Alpharetta Location as Eastern Region Hub
Cushman & Wakefield announced recently that it represented Portland, Ore.-based Vesta Corporation in a 36,556-square-foot long term lease. The seven-year contract at Brookside Concourse in Alpharetta replaces the electronic payment solutions provider’s previous sublease.
102 South Florida Multifamily Units Sold in Three Simultaneous Transactions
Franklin Street Services recently brokered the sale of Jaclyn Apartments in Hialeah, part of Garden View in Miami, and a 10-unit Hollywood Beach community. The total of 102 units changed hands for a total of $8.25 million. The team representing the sellers in the transactions comprised of Franklin Street brokers Deme Mekras, Elliot Shainberg and David Reinke.
Austin Hampton Inn Hotel Sale Arranged by Marcus & Millichap
The Hampton Inn hotel located at 4141 Governors Row in Austin has changed owners. Marcus & Millichap Real Estate Investment Services arranged the sale of the six-story 123-room hotel, without disclosing the terms of the sale.
Beacon Partners Taking Over East Morehead Street; LP Financial Scouting the Suburbs
Charlotte-based full-service real estate company Beacon Partners has just increased its East Morehead portfolio, buying its fourth office asset on the Midtown street.
Dropbox Inks Agreement for the Entire Space at Under-Construction Kilroy Facility in SOMA
As San Francisco’s office market is continuing to escalate, and the city’s image is booming, being recently named as the most dynamic city in the world, further proof of the area’s tech appeal was recently revealed. The office facility that Kilroy Realty Corporation has been developing in the SOMA district for the past few months is already fully leased as the company has announced the completion of a complete leasing agreement with growing tech company Dropbox.
LSU College of Engineering Exceeds $100M Funding Goal, Gears Up for $350KSF Overhaul
The Louisiana State University (LSU) College of Engineering has announced the successful completion of the Breaking New Ground capital campaign, wrapping up three months ahead of schedule and 5 percent above its targeted funding goal, with $52.5 million raised from 450 individual and corporate donors.
Rodeo Drive Retail Building Refinanced to the Tune of $120M
Mesa West has doled out $120 million in financing to ECA Capital for the recapitalization of 338-342 N. Rodeo Drive, a 20,700-square-foot retail building in the über-prestigious Golden Triangle area of Beverly Hills.