News
Scion, Virtus Buy $118M Student-Housing Portfolio from ACC
A joint venture between affiliates of The Scion Group and Virtus Real Estate Capital has acquired, from American Campus Communities, a portfolio of three student-housing properties for $118 million.
Johnson Development Emerges as Buyer of 2,100-Acre Camp Strake Property
It’s official: Johnson Development Corp. has been chosen as the buyer of the 2,100-acre Camp Strake property, one of the largest available contiguous land parcels currently available in the Houston metropolitan area.
Stream Data Centers Announces Plans to Build New Private Data Center in Chaska
Texas-based developer and operator of wholesale data centers, Stream Data Centers, recently announced plans to open its 16th facility in the U.S. and its first enterprise data center in Chaska, Minnesota.
Economy Watch: Unemployment Rates Edge Up in Many States; Vehicle Miles Up in May
Twenty-eight states experienced unemployment rate upticks in June. And travel on all roads and streets, which is an indirect indicator of economic activity, was up by 0.9 percent (2.3 billion vehicle miles) in May 2013.
700-Unit Apartment Building to Be Largest in Pentagon City
The Arlington County Board recently approved phases four and five of the Metropolitan Park project. It calls for the redevelopment of an existing warehouse site into the single largest residential and retail high-rise in Pentagon City.
Promise Hotels Acquires Hyatt Place Tulsa Southern Hills
Locally-owned Promise Hotels recently announced the acquisition of the Hyatt Place Tulsa Southern Hills for an undisclosed purchase price. Built in 1996, the 126-room hotel is located at 7037 South Zurich Avenue in the South Tulsa Medical District.
Trio of M-F Projects Awaits City Approval
The city’s Zoning, Neighborhoods and Development Committee has recently green lighted three separate apartment projects in Milwaukee. The Business Journal reports that the proposed residential developments would bring a total of 229 units. A final decision from the Common Council is expected on July 23.
The Queens Museum of Art to Reopen in October, Twice as Large
After more than two years of extensive renovations and a $68 million investment, The Queens Museum of Art will reopen on October 11 as one of the most refined museums in the country, bringing new technology and expanded exhibition space to accommodate the institution’s growing collection.
The Grove at Isleworth Kicks Off 2nd Phase, Adds New Tenants
Owner Tavistock Development Company decided to celebrate The Grove at Isleworth’s success by doubling the mixed-use center’s space.
The Outlet Shoppes at Atlanta Celebrates Four-Day Grand Opening
The 370,000-square-foot Outlet Shoppes at Atlanta has finally opened its doors, bringing 99 top retailers to the local market.