News
Robust Suburbs Help Make Capital the Nation’s Tightest Office Market
The National Association of Realtors recently reported that the Washington, D.C. area currently has the lowest office vacancy rate in the nation. With a vacancy rate of 9.7%, Washington D.C. is just under New York City, with a 9.8% vacancy rate, Little Rock, Arkansas, 12.1%, and Birmingham, Alabama, 12.4%. Washington Property Company, a full-service commercial real estate company based in Bethesda, played its part in lowering the area’s office vacancy rate.
Behringer Harvard, Trammell Crow Kick Off Upscale M-F Project
Behringer Harvard Multifamily REIT I, Inc. (the REIT) along with joint venture partner Trammell Crow Residential (TCR) officially broke ground on The Alexan, a 10-story apartment community situated on Goat Hill, northwest of downtown Dallas.
Grosvenor Americas Grabs 195-Unit M-F Property in Bay Area
Grosvenor Americas has just entered the apartment market in the California Bay area with the acquisition of Carlmont Woods Apartments in Belmont.
Carlyle, Townsend to Invest $200M in JV with Shanghai Yupei to Develop Warehouses in China
Citing the growth of the logistics sector in China, The Carlyle Group and The Townsend Group are investing $200 million in a strategic partnership with Shanghai Yupei Group that will funnel a total of $400 million to 17 projects and acquisitions in China’s main cities.
LifeEdited to Develop Micro-Apartment Project in Sao Paulo
A specialty consultant to architects and developers, LifeEdited Inc. plans to develop a new 18-story, 86-unit micro-apartment project in Sao Paulo, dubbed as VN Quata.
Economy Watch: GDP Surprises on the Upside; Negative Equity, Unemployment Claims Dip
The nation’s latest GDP estimate came in at 2.5 percent on the upside compared to an earlier estimate of 1.7 percent for the quarter. The national negative equity rate fell to 23.8 percent of all homeowners with a mortgage during the second quarter, down from 25.4 percent in the first quarter. And initial unemployment claims dropped by 6,000 for the week ending Aug. 24.
Albuquerque’s Rock Climbing Gym to Expand to 23,000 Sq. Ft. after Relocation, $4M Renovation
New Mexico’s largest indoor rock climbing gym is soon to become the largest one in the Southwest. A $4 million renovation commenced for Albuquerque’s Stone Age Climbing Gym that relocates to the former Spa & Billiard World store at 4130 Cutler Ave. NE, just off of Interstate 40 and Carlisle.
Live Chat with Campus Evolution’s Evan Denner
Join us on Thursday, Sept. 26 at 2 p.m. (EST) for CPE‘s live Twitter chat with Campus Evolution’s CEO Evan Denner, as he discusses privatization of student housing and the state of the student housing business in a recovering economy. A co-founder and principal of Lauderhill Partners, L.L.C., the holding company for Campus Evolution, L.L.C., Denner has extensive experience leading both public and private companies during periods of major change including high growth, movement to public company status, downsizing and reorganizations. He also has experience acquiring, integrating and repositioning operating businesses. Be sure to log on! Find out more at…
H&M Takes 63 KSF Flagship Spot at Re-Envisioned Herald Center in NYC
JEMB Realty’s long-held vision for Herald Center, its 250,000-square-foot office and retail property at the intersection of 34th Street and Broadway in Manhattan, is coming to fruition. The 10-story tower has landed fashion retailer H&M for occupancy of a prominent 63,000-square-foot wraparound retail space under a 25-year lease agreement.
Ivanhoé Cambridge Ends Phase II Redevelopment of Shopping Center in Metro Vancouver
Ivanhoé Cambridge completed Phase II of the redevelopment of its fully-owned Guildford Town Centre, located in Surrey, British Columbia, the fastest growing municipality in Metro Vancouver and Western Canada.
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