News
JLL: MOBs Still a Hot Ticket Among Investors
Judging by recent research conducted by Jones Lang LaSalle’s Healthcare Capital Markets group, investors cannot get enough of the medical office building subsector of healthcare real estate.
Abandoned Peanut Factory to Be Transformed into Residential Complex
Not far from San Antonio’s urban core sits an abandoned peanut factory; previously here was a peanut processing and storage warehouse facility. At the beginning of next year it will be transformed into Peanut Factory Lofts, a 90-unit apartment and townhome complex with the help of civil engineering firm Big Red Dog.
Techno Bonanza in Mid-City Apartments
A curiously named new project is about to hit the New Orleans apartment market. Dubbed Mid City iLofts, the boutique apartment project has started leasing recently.
USAA Buys 262 KSF Office Building in San Antonio
USAA Real Estate has acquired One Riverwalk Place, an 18-story, multi-tenant office building located in the central business district of San Antonio, from Winthrop Realty, an affiliate of Apollo Real Estate Advisors.
Pelli to Design M-U Building for Wall Street Church
Pelli Clarke Pelli Architects will design a 296,000-square-foot mixed-use development for Trinity Wall Street, the historic Episcopal parish in Lower Manhattan.
Economy Watch: Personal Income, Spending Up in July; Serious Mortgage Delinquencies, Consumer Sentiment Down
Personal income edged up in July by 0.1 percent. The single-family serious delinquency rate for mortgages that it owns or insures declined in July to 2.7 percent from 2.77 percent in June. And the final Reuters/University of Michigan consumer sentiment index for August came in at 82.1, down from the final July reading.
U Square @ the Loop Finally Open
U Square @ the Loop, the largest local project besides The Banks to break ground since the recession, is finally finished. The $78 million development opened on Thursday, August 22. UC President Santa Ono, Vice Mayor Roxanne Qualls, CHCURC Director Matt Bourgeois, Uptown Consortium CEO Beth Robinson, Al. Neyer Executive Vice President Jim Neyer and many others were present at the ribbon cutting ceremony.
A&B’s The Collection Condominium High-Rise in Kakaako Draws Good Response from Buyers
A&B Properties’ latest condominium development slated to rise at 600 Ala Moana Blvd. in Honolulu’s Kakaako neighborhood has registered strong sales. According to the Pacific Business News, about 60 percent of the 397 units in The Collection have been sold during the opening sales weekend.
Hyatt Regency Minneapolis Hotel Completes Second Phase of Renovation, Expansion
Hyatt Regency Minneapolis hotel has recently announced it has completed Phase II of its renovation. Phase II included a major expansion which sees the Hyatt Regency Minneapolis, one of the largest hotel properties in the Twin Cities, add over 20,000 square feet of event space and an extra 112 new guestrooms and 54 high-end suites.
$30 Million Office Development Broke Ground at Fifth Street and Congress Avenue
At 501 Congress Avenue, where the former annex of the Bank of America used to be, recently broke ground a $30 million office development. Stream Realty Partners purchased the site back in April in a partnership with four other firms.