News
First Baptist Church in Albuquerque Listed at $7.5M
At the corner of Broadway Boulevard NE and Central Avenue is resting vacant the First Baptist Church. The property has sat so for several years, with transients every now and then, and now is back on the market listed by Keith Meyer and Jim Wible with NAI Maestas & Ward.
Landesbank Provides $110M for Queens, NY M-F Project
Landesbank is providing construction financing for a new luxury multi-family tower scheduled to go up in Long Island City in the New York City borough of Queens.
HCP Shakeup Takes Analysts by Surprise
Analysts and investors were surprised when news came out that the nation’s largest healthcare REIT, HCP, had fired its longtime chairman & CEO.
Mack Urban, AECOM Acquire Six Acres in Los Angeles CBD
Mack Urban and AECOM Capital have teamed to acquire six acres of land in downtown Los Angeles’ South Park district, on which they plan to build a new mixed-use neighborhood.
Economy Watch: No Jobs Numbers for September, but Non-Manufacturing Activity Up; Treasury Warns Against Default
There was no jobs report today, but state-reported unemployment claims hit a six-year four-week average low. The ISM measured an increase in non-manufacturing business. And the Treasury Department made dire predictions about what would happen if the U.S. were to default on its sovereign debt.
PREI Pays Reported $57M for Mission Valley Office Building
The San Diego office market recorded an important transaction on its road to recovery as the Rio San Diego Plaza recently traded hands. The office asset was acquired by Prudential Real Estate Investors from AEW Capital Management, who sold the property on behalf of one of its institutional clients. The property had been acquired by AEW Capital Management back in 2006 from 8954 Rio San Diego LP. The deal was handled by real estate company Jones Lang LaSalle. The JLL team in charge of the deal was made up of Managing Directors Lynn LaChapelle and Bob Prendergast.
Airport Wraps Phase 1 of $80 Million Terminal Upgrade
Renovations are finally complete at Port Columbus International Airport’s six-gate Concourse A, almost a year after the airport launched the $80 million terminal modernization program to upgrade its three-concourse terminal. The facelift is part of the project’s first phase.
C&W: ‘A Very Good 2013’ Rolls on for Manhattan
As 2013 enters the home stretch, the nation’s biggest real estate market continues to show healthy momentum on most fronts, according to Cushman & Wakefield’s New York City team.
Allied Builders System Tapped to Develop Kamehameha Schools’ Retail Project in Haleiwa
Honolulu-based general contractor Allied Builders System has been selected to oversee the construction of a 27,000-square-foot commercial center in the Oahu North Shore town of Haleiwa. Kamehameha Schools made the announcement during the project’s groundbreaking blessing ceremony on September 26th.
Skanska Sells 3009 Post Oak for $112M; MIG Grabs 240-Unit Woodlands M-F Community
Skanska USA, one of the leading development and construction companies in the country, announced plans to sell its recently completed office tower in Houston. The buyer, Post Oak Building LLC, will purchase the property for $112 million. The transaction will be recorded and settled in the third quarter 2013