News
KRE, Dune Acquire 5 M-F Assets for $237M; South Blvd. Apartments Fetches $42M
By Alex Girda, Associate Editor, and Paul Rosta, Senior Editor Las Vegas’ residential market ended 2013 with a flurry of high-profile multi-family transactions. In a $237 million deal, KRE Capital and Dune Real Estate Partners teamed up to acquire five residential properties comprising 1,435 rental and condominium units, VegasINC.com reports. The seller, ST Residential, was […]
Math+Science Complex Completed at San Diego Mesa College
By Alex Girda, Associate Editor Last year ended with the completion of one of San Diego’s largest new educational facilities: the $109 million Math+Science Complex at San Diego Mesa College. Also the college’s largest project to date, the four-story facility will provide classrooms, laboratories, faculty space and administrative support space for science and mathematics students […]
Non-Profit Design Center Reveals Renderings of Columbus Square Park
The neglected Passyunk Square neighborhood park is set for a much-need redesign with the help of a grant coming from a local non-profit organization.
La Kretz Innovation Campus in Cleantech Corridor Secures Final Part of Financing, Set to Open in 2015
An initiative that is set to reignite the tech sector in L.A. recently received the go-ahead as financing for the project is finally in place. Thanks to the U.S. Bank, the La Kretz Innovation Campus is now closer to reality as the last piece of the financial puzzle has been locked in. The banking giant has secured $14 million in New Markets Tax Credit for the La Kretz development project, which when completed will consist of a total investment of around $46 million. The project has received wide support from local officials, especially Los Angeles Mayor, Eric Garcetti.
Triangle Equities’ $200 Million Lighthouse Point Adds to Staten Island Wave of Developments
Queens-based Triangle Equities is finally moving on with one of the largest mixed-use projects to be developed on the North Shore of Staten Island since Hurricane Sandy hit the area. Though the New York City Economic Development Corporation (NYCEDC) green lighted the development plans in early 2007, the project faced several years of hurdles mostly because of the economic downturn that affected the real estate sector.
Apartments and Retail to Replace Vacant Bowling Alley in Dorchester
Phoenix-based Lucky Strike Development is planning to enliven the former Fields Corner bowling alley in South Dorchester which was closed in 2007 after serving the neighborhood for five decades.
Transwestern Hired to Sell Two Apartment Communities in Anne Arundel County
Two apartment apartment communities in Anne Arundel County are now on the market. Together, they offer over 450 units. Transwestern’s Bethesda, Md.-based Mid-Atlantic Multifamily Group has been named as exclusive agent for the sale of both properties.
FedEx Ground Plans $175 Million Massive Distribution Center in Lehigh Valley
Just before the end of 2013 a large shipping company submitted plans for a 1.3-million-square-foot package sorting center in Allen Township, in Pennsylvania’s Lehigh Valley region. The project was filed with the Lehigh Valley Planning Commission by Moon Township, PA-based FedEx Ground, a subsidiary of the FedEx Corporation that serves businesses and retailers deliver merchandise to customer in up to five days.
TechTown Opens Junction440 as Shared Work Space for Entrepreneurs
TechTown Detroit, a non-profit business incubator and accelerator based in Midtown within the Woodward Technology Corridor SmartZone, seized this opportunity and recently opened a new co-working space designed for entrepreneurs seeking an affordable, flexible and active work environment.
Walnut Capital to Begin Construction on New Office Building at Bakery Square 2.0 This Spring
Walnut Capital Partners is planning to break ground on the first office building of its approximately $100 million Bakery Square 2.0 mixed-use development in East Liberty this spring. According to the Pittsburgh Business Times, construction on the six-story, 216,000-square-foot facility is expected to begin in March and be complete in 18 to 24 months. The Pittsburgh Planning Commission is currently reviewing the developer’s proposal.