News
School Wins Office Makeover by Goodmans Interiors Structures
The Edge School at Himmel Park has recently won Goodmans Interior Structures’ “Eye for the Good GuyS Board Governance Award.” The prize was a $20,000 office makeover that got the local nonprofit charter high school a bigger and more modern chamber to do business in. The institution now has a state of the art assembly hall with a capacity to seat 25 people, for example on the occasion of board meetings.
Signature Vacation Rentals Enters Tucson Market
Signature Vacation Rentals has expanded its operation by opening a new branch office in Tucson. Launched in 2011, the company is an affiliate of The Schwab Oranization which came to life in 2001 in Puerto Penasco Mexico and is dedicated to client services, community service and cross border business.
Luxury 274-Unit Mixed-Use Project in the Pipeline for Oro Valley
Luxury apartments and a multi-tenant retail center are coming to North Oracle Road’s southeast corner with First Avenue in Oro Valley. The mixed use project, owned by Cañada del Oro, LLC will be built on a site that has been a planned area development since more than a decade, as Oro Valley approved it in 2002.
Hilton Opens Istanbul’s Largest Hotel & Conference Center
Hilton has announced the opening of the 829-key Hilton Istanbul Bomonti Hotel & Conference Center, Hilton’s newest Turkish asset and Istanbul’s largest hotel.
Avison Young Buys PSB; SCM Merges with Coldwell Banker
Two commercial real estate services firms – Avison Young and Coldwell Banker Commercial Alliance – continue to expand by merging with strong local brokerages across the United States.
Winthrop Realty Trust’s Times Square NY Venture Refinances Existing Debt
The development venture that bought 701 Seventh Ave. in Manhattan’s Times Square in October 2012 has completed $815 million in refinancing.
Economy Watch: Beige Book Strikes Optimistic Tone; World Bank Hopeful on World Economic Growth
The Beige Book had some positive things to say about the U.S. economy, mainly that it was expanding at a moderate pace. The World Bank was also optimistic about global economic growth for the new year in its more recent “Global Economic Prospects” report.
Georgetown’s Montrose Residences More Than 50% Pre-Sold
In spite of the booming apartment construction in the Washington, D.C., metro area, the condo market is tight, with just nine-and-a-half months of new inventory available in the region, on average, according to Marcus & Millichap Real Estate Investment Services. The demand to own condos in the market is high and growing. That’s why a historic building in the heart of Washington, D.C.’s Georgetown neighborhood is already more than 50 percent pre-sold, months before the completion of its renovation.
Edward Rose Plans $80M Mixed-Use Development in Carmel
A large-scale mixed-use complex could soon rise on one of the last remaining undeveloped sites in Carmel’s Old Meridian district. According to the Indianapolis Business Journal, a plan commission committee is currently reviewing the $80 million project proposed by Edward Rose Properties Inc. Plans call for 400 apartments, a four-story parking garage, above-ground-floor retail space, 65 single-family town homes, a senior-living community (with independent living, assisted living and memory care units) and a 100-plus-room boutique hotel.
Schnuck Markets Purchases Columbia Centre Market Place from Koppeis
Shnuck Markets Inc. recently announced the purchase of Columbia Centre Market Place Inc., a Koppeis family enterprise in Columbia, Illinois.