News
Stan Johnson Opens Office in Miami Area
Brian Buffone and Barry Wolfe have been named lead brokers in Stan Johnson Co.’s new Miami-area regional office in Fort Lauderdale.
What Vornado’s 655 Fifth Ave. Buy Means for Manhattan’s CRE
Vornado Realty Trust has grabbed another prime Fifth Avenue location just as the retail rents there are passing $3,000 per square foot, paying $278 million for a majority stake in 655 Fifth Ave., a retail and office property with 50 feet of frontage on Manhattan’s Fifth Avenue.
Economy Watch: Homebuilder Optimism Reaches Pre-Recession Levels; CPI Stagnant in July; Stocks Take Beating
Builder confidence in the market for newly built single-family homes rose three points from July to an August reading of 59. The Consumer Price Index for All Urban Consumers increased 0.2 percent in July, a meager peak. And stocks fell significantly after two giant companies announced low sales and layoffs.
Ridge Flats Net-Zero Energy Community in East Falls Gets the Green Light for Construction
Onion Flats’ efforts to build Philadelphia’s first Passive House Certified and Net-Zero-Energy mixed-use community will finally come to fruition. Almost two years after the local developer was selected by the Philadelphia Redevelopment Authority (PRA) to create the most innovative, energy-efficient housing development in the East Falls section of Northwest Philadelphia, the project received the green light from the City Planning Commission and a final OK from the Zoning Board of Adjustment.
Three Detroit-area Companies Receive MEDC Incentives, Expected to Invest $10.8 Million in the Region
he Michigan Economic Development Company (MEDC) announced last week that it has awarded $1.06 million in Business Development and Community Revitalization program incentives to three Detroit-area companies that plan to expand in the Southeast Michigan.
Yet Another Milpitas Multifamily Project Set to Take Shape as Silicon Valley Ramps up Housing
The rise of Silicon Valley has been a long process, and now the incentive is there for housing to fulfill the expectations of hordes of young professionals looking to relocate to the area as Google, Apple and a myriad of other tech companies continue their expansion. One of the cities in the Silicon Valley area is Milpitas, home of companies such as Maxtor, Adaptec, Cisco Systems and SanDisk.
Coworking Office Concept Opens Second Phase; Hines Picks Up Suburban Retail Center
Nashville has new office space to boast with, but it’s something different than the run of the mill office space that abounds in urban cores, while Hines acquires 750,000-square-foot shopping center
JEDA Bonds Make Renovations Possible at Charleston Airport Radisson
Described as “innovative”, bond financing from the South Carolina Jobs-Economic Development Authority (JEDA) has helped a property investor purchase and renovate the 159-key Radisson Hotel Charleston Airport.
Joint Venture Acquires 300,000 SF Suburban Chicago Office Park
Transwestern Investment Group recently announced it has acquired two Class A office buildings in the East-West Corridor office market outside Chicago. The properties were acquired by a joint venture between Transwestern Sponsorship Equity Partners and Soundview Real Estate Partners for an undisclosed amount.
Low-Income Families to Receive Solar Power Through New Program
Carbondale, Colorado-based Clean Energy Collective has recently announced the launch of a new program that will give low-income residents in Denver, Colorado access to locally-produced clean energy. Following a new partnership agreement between solar garden developer Clean Energy Collective (CEC) and the Housing Authority of the City and County of Denver (DHA), the new Community Solar Low-Income Residential Program will see CEC devoting a part of the power produced by three community solar facilities serving Xcel Energy’s Denver County customers offset the electrical bills for around 35 families living in the DHA facilities.