News
Alvarez & Marsal, Classical Academy Buy Industrial Assets
A series of commercial real estate transactions have taken the center stage in the San Diego market recently with a distribution facility and a research property making industry headlines. The Classical Academy has recently acquired an industrial facility formerly operated by now defunct local newspaper, North County Times. Additionally, El Segundo-based Alvarez & Marsal Capital Real Estate has moved for a Carlsbad R&D property, a deal mediated by Cassidy Turley and Madison Partners.
The Residences at Mandarin Oriental Reach Sales Milestone
As the Las Vegas residential market fights for its life, with Nevada’s foreclosures once again at the top of the national chart in a time when homebuilding is at the top of its game, it seems that the market might find a typically flashy savior, considering the context. According to a recently released press statement, one of the city’s most high profile luxury residential properties, The Residences at Mandarin Oriental, has announced strong sales figures for the first six months of its existence.
Homewood Suites Opening Launches Busy Fall for Columbus Hotel Market
Homewood Suites by Hilton opened its newest property in Columbus at the end of August. Advertized as ”a destination for both the business and education communities, in addition to leisure travelers” by General Manager Nathan Lipps, the hotel created 20 permanent jobs.
University of Memphis Breaks Ground on $53M Student Housing
University of Memphis has taken a major step towards the future by breaking ground on a new residency hall.
Former Broad Street Armory Building Demolished, Replaced by Apartments
The 127-year-old Broad Street Armory building, one of Philadelphia oldest constructions, is almost history. Less than one month after a crane started tearing down the long-vacant crumbling building located at 1221 South Broad Street in Passyunk Square, the Zoning Board of Adjustment approved a zoning variance to developer Michael Carosella’s plans to replace the property with a new, modern structure that will include 50 apartments.
Hollywood-like Entertainment and Retail Complex to Replace The Met Hotel in Troy
Met Hotel Partners LLC, a subsidiary of Laguna Beach, CA-based New California Hotel Corporation and owner of the former Northfield Hilton Hotel in Troy, and Park Avenue Investments LLC are planning to bring a taste of sunny California in a suburb located just a half-hour’s drive north of Detroit.
Nashville Office Transactions Flirt with Nine Figure Prices
Nashville’s office market has experienced quite a flurry of activity recently. Things really heated up with the $152 million sale of the 520,000-square-foot The Pinnacle at Symphony Place and stayed hot with news of further large-scale office acquisitions.
Cypress Equities Buys 350 KSF Alabama Power Center
Cypress Equities, acting through a fund managed by its real estate investment management group, adds a third Alabama retail property to its portfolio with the acquisition of Promenade Tannehill, an approximately 350,000-square-foot regional power center in the suburban Birmingham town of Bessemer.
BentleyForbes Appoints Warwick as New CEO
BentleyForbes has tapped CRE veteran Jeffrey Warwick as its new CEO, president & managing partner to spearhead the company’s aggressive expansion plans.
Leighton Develops 4th Office Tower at Kings Square in Perth, Australia
Leighton Properties has recently broken ground on its fourth office tower at the Kings Square precinct, a key component of the state government’s multibillion-dollar Perth City Link TOD.