News
Eakins Oval Reinterpreted as Urban Beach Area for the Summer
Eakins Oval, one of Philadelphia’s hot spots during summers thanks to its prime location right in front of the Philadelphia Museum of Art, will be transformed this summer into the city’s new center of fun. An initiative of Philadelphia Department of Parks and Recreation in partnership with the Fairmount Park Conservancy, the $180,000 project is supported by the William Penn Foundation and the City of Philadelphia.
University of Michigan-Dearborn to Open New Student Housing
Beginning this fall, the students enrolled at the University of Michigan-Dearborn will have access to a new housing complex located directly across Evergreen Road from the university campus.
Gladstone Buys 320 KSF Class A Office Property in Austin
Gladstone Commercial Corp., a Virginia-based REIT, purchased 717 Parmer, a 320,000-square-foot, Class A office property from Karlin Real Estate.
PMC Property Group Plans to Repurpose Pittsburgh’s Clark Building into Apartments
The upper floors of the 23-story Clark Building on Liberty Avenue in downtown Pittsburgh could soon be converted into one- and two-bedroom apartments.
Office Building Acquisition Confirms Interest in Silicon Valley Still High
Silicon Valley has been going from strength to strength over the past year as its office market has seen sustained growth. It doesn’t hurt that Apple is planning a massive spaceship-shaped HQ in Cupertino while the Googleplex in Mountain View is already a staple of the region. Now a new deal is set to catch the attention of investors as Grosvenor Americas has sealed a deal making it the new owner of a San Jose office building. Century Plaza II was bought from German company Deka Immobilien, represented in the transaction by Savills LLC, for an undisclosed amount.
Economy Watch: Mortgage Rates Peak; Investors Turn to Stocks
Fixed mortgage rates are continuing to trend higher, presumably on market speculation that the Federal Reserve will reduce future bond purchases. And investors are turning to stocks because other kinds of investments have proved disappointing lately.
Historic Building Takes the LEED in Nashville
The Bridge Building, a historic Nashville structure, now holds the highest score in U.S. Green Building Council’s LEED for Core and Shell category with a record-breaking 99 points out of the maximum 110 – a 90 percent score.
$1.2B Bull Street Development Receives Green Light
“Today we made a giant step forward in moving the Greater Columbia Region toward greatness. The Bull Street development will not only transform Columbia, but the recent debate will also impact the way Columbia approaches doing business” declared Greater Columbia Chamber of Commerce President Ike McLeese, according to the organization’s official Facebook page.
Centerline Capital Group Refinances Two M-F Properties in Uptown Chicago
Centerline Capital Group, a subsidiary of Centerline Holding Company, recently announced it has completed a two property cash out portfolio refinance on multifamily properties located in Chicago.
Castle Rock Council Approves Town’s Largest Commercial Development Project
The Town Council of Castle Rock, Colorado has green-lighted a conceptual private-public financing package that would result in the largest single master planned commercial development ever constructed in Castle Rock.