News
WTC Headed Toward $190M Luxury Hotel, Apartment Redevelopment
The 670,000-square-foot World Trade Center in New Orleans is two steps away from kicking off an adaptive reuse project that would transform it into a mixed-use luxury hotel and upscale apartment development.
Pierce County Gives Go-Ahead to Pre-Design Measures for New Facility
Tacoma’s office market might take a hit as reports claim that Pierce County is looking to consolidate its employees into one standalone office property. As county officials are currently occupying eight different office buildings throughout the city, there might be a number of owners who will scramble to find new tenants in order to fill up the space that Pierce County might be vacating.
Jacobs Real Estate Services Sells Acreage in Avon for New Marriott Hotel
A new hotel is coming to Avon next year. Westlake-based Jacobs Real Estate Services, an independent affiliate of The Richard E. Jacobs Group, announced on Tuesday, October 1, it has agreed to sell a 4.27-acre site on Just Imagine Drive to Emerald Hospitality Associates Inc. and Nimbus Investment Fund. The price of the transaction was not disclosed.
UC Releases New Renderings for Nippert Stadium Renovation Project
Bearcat fans rejoiced on Thursday, October 3, as the University of Cincinnati released new renderings and floor plans for the Nippert Stadium Renovation & Expansion project on Thursday, October 3. At a cost of $86 million, the privately funded project is scheduled to start construction in mid-December, this year. It is expected to be completed in August 2015.
Waldorf Astoria Naples Trades for $200M
The Waldorf Astoria Naples has come under new ownership in a transaction valued at approximately $200 million. An affiliate of Blackstone sold the 474-room luxury resort hotel and the 18-hole Naples Grande Golf Course to an affiliate of Northwood Investors.
Inland American, Inland Diversified Select JLL to Lease 1 MSF Dallas Retail Portfolio
Inland American Retail Management and Inland Diversified have chosen Jones Lang LaSalle Retail to lease seven shopping centers in the Dallas area.
Mayer Brown Signs 187 KSF Lease in NYC’s Rockefeller Center
The Rockefeller Group has completed an 187,000-square-foot lease with Mayer Brown at 1221 Avenue of the Americas, a 50-story office tower anchoring the western border of Rockefeller Center between West 48th and West 49th streets.
Economy Watch: U.S. Top Oil, Gas Producer; Mortgage Refi Dips, Interest Rates Rise; Data Drought, Debt-Ceiling Jitters
Domestic oil and natural gas production is expected to be larger than Russia or Saudi Arabia this year. Prepayment activity declined sharply in August as mortgage rates continued to rise. And more federally generated data was delayed on Monday.
RockBridge Capital to Renovate Iconic Canterbury Hotel in Indianapolis for $9.5M
Columbus, Ohio-based RockBridge Capital LLC is planning to close the historic 99-room Canterbury Hotel in downtown Indianapolis for a nine-month renovation and reopen the property under Starwood’s luxurious Le Meridien brand.
PRG Real Estate Acquires 352-Unit Memphis Apartment Community
Philadelphia-based PRG Real Estate Management Inc. has announced the acquisition of Church Lake Apartments, a 352-unit garden-style apartment community located in Southaven, MS.