News
Lowe, Alecta Form JV to Develop Seattle-Area High-Rise
Lowe Enterprises Investors and Alecta, Sweden’s largest mutual pension company, have formed a joint venture to develop a 24-story condominium building in the First Hill area of Seattle.
Clarion Acquires 173 KSF Office Building in Boston for $121M
Clarion Partners has purchased a six-story, 173,439-square-foot office building in Brookline, Mass. for $121 million.
Economy Watch: Consumers Feeling Glum; Durable Goods Orders Rise Due to Aircraft Sector
The Reuters/University of Michigan consumer sentiment index dipped downward again to end October at 73.2, dropping from the end of September reading of 77.5. But durable goods orders surprised on the upside in September.
H-E-B Proposes $100M Master Plan for City
By Anca Gagiuc, Associate Editor
H-E-B has revealed its plans for a $100 million master plan that would transform the area north of the historic King William neighborhood. The project is designed to be developed in two phases and would encompass almost 27 acres.
Developers Break Ground on New Cambria Suites Hotel in Avon
Another hotel is under construction in the Cleveland area. Choice Hotels International, Inc., Ceres Enterprises, LLC, and Consolidated Construction Company started work on October 21 on a new Cambria Suites hotel at 35600 Detroit Road in Avon. The cost of the project was not announced.
Three Off Broadway Theaters Scheduled for Opening in 2014 in Midtown West
In an ever-crowded place like Manhattan, where business and art go hand in hand, finding available space to open a new entertainment venue seems like a quest to find the Holy Grail.
Construction at Northeastern’s GrandMarc Student Dorm is 50 Percent Completed
Construction at Northeastern University’s GrandMarc, a residential building currently under construction behind the YMCA of Greater Boston on Huntington Avenue, has reached its halfway point as the final steel beam was added to the 17-story structure. The topping-off was celebrated last week by President Joseph E. Aoun, Mayor Thomas M. Menino, representatives of Phoenix Property Company and Suffolk Construction and othe rpople affiliated with the project.
HFF Provides West Hollywood Retail Center with $27 Million Financing Deal
Holiday Fenoglio Fowler L.P. has recently completed yet another financing deal for the improving Los Angeles commercial real estate market. The capital markets services provider has secured financing for a West Hollywood retail asset totaling $27 million. The company worked on behalf of Shooshani Developers, for the Hollywest Promenade.
Amazon to Open Fulfillment Center in Baltimore Next Year, Create 1,000 Full-Time Jobs
On October 22 Amazon.com, Inc. announced it plans to open a 1 million-square-foot fulfillment center in Baltimore. The facility will provide full-time jobs for more than 1,000 employees.
Kamehameha Schools Places Royal Hawaiian Center in Waikiki on Leasehold Sale
Kamehameha Schools has announced its intent to sell the buildings at Royal Hawaiian Center in Waikiki while retaining ownership of the underlying lands.