News
Chatham Lodging Acquires Residence Inn in Suburban Seattle for $72M
Chatham Lodging Trust has acquired the 231-room Residence Inn by Marriott Seattle Bellevue/Downtown for a net cash price of $72 million, plus customary, pro-rated amounts and closing costs.
General Growth Properties Buys Chicago ‘Magnificent Mile’ Building from Grosvenor
General Growth Properties has acquired a 126,000-square-foot retail building in the heart of Chicago’s “Magnificent Mile” shopping district from Grosvenor Americas.
Economy Watch: Manufacturing Sector Continues Expansion; Auto Sales Status Quo
Activity in the U.S. manufacturing sector expanded in October for the fifth month in a row, and the nation’s overall economy grew for the 53rd consecutive month. And U.S. auto and light truck sales increased by 5.9 percent compared to last year, but are down slightly from last month.
Alliance Plans 316-Unit M-F Project in Scottsdale; Bridge Investment Group Pays $38M for Mesa M-F
Alliance Residential acquired a 5.4-acre multi-family development tract at 75th Street and Stetson Drive in Downtown Scottsdale with plans to break ground on an upscale apartment project later this year.
Agency Approves $29M Plan to Replace Moore Facility Destroyed by Tornado
Norman Regional Health System recently announced a new milestone has been reached in its plans for a new Permanent Healthcare Facility in Moore.
State Greenlights Sale of Landmark Medical Center in Woonsocket
The Rhode Island Office of the Attorney General has approved the sale of the Landmark Medical Center in Woonsocket and its subsidiary, the Rehabilitation Hospital of Rhode Island in North Smithfield, to California-based Prime Healthcare Services. The decision concludes the regulatory process, as it follows the Department of Health’s approval.
Developers Complete First Phase of Construction at Brooklyn’s Navy Green
City officials and developers gathered last week at the former site of the “Brig”, a former naval prison in Brooklyn’s Fort Greene, to celebrate the completion of the first phase of an $18 million project designed to reconvert the site into affordable housing.
225 Centre Building Adds 103 Rental Units in Jackson Square, More to Follow
The intersection of Columbus Avenue and Centre Street, an underutilized section in Boston’s Jamaica Plain neighborhood, is going through some major changes. Four decades after much of the area was bulldozed to make room for a highway expansion program that was never built, city officials and development partners last week celebrated an important milestone of an ambitious, $250 million redevelopment project of the Jackson Square community that will serve as a gateway between Jamaica Plain and Roxbury.
Improving Retail Market Scores Hanley Investment Numerous Deals Totaling $87 Million
The pace of investment for the Los Angeles retail market is steadily improving, and brokerage companies are loving every second of it. A recent press release from Hanley Investment Urban Retail Advisors indicates the uptick in deals completed by company representatives in the Los Angeles market. Carlos J. Lopez, President of the company, has recently closed $87 million worth of transactions in the recent timeframe. Hanley Investment Urban Retail Advisors is a division of Hanley Investment Group Real Estate Advisors whose main activity involves the sale and advisory of high profile mixed-use and urban retail properties in dynamic districts.
FCC Environmental to Start Work on $50M Used Oil Recycling Facility in Baltimore in Q2 2014
FCC Environmental, a Houston-based service provider of waste oil collection and processing, announced it will break ground on a used motor oil recycling facility in Baltimore, in the second quarter of 2014.