News
Freshly Renovated City Parks Remove Yet Another Mark of Katrina
The Big Easy now sports two more renovated green spaces: St. Roch Park and Mickey Markey Park, which recently reopened to the public after going through much-needed renovation work.
Corporate Park in Kent Fetches $170M, in Northwest’s Largest Industrial Sale
A landmark deal was recently completed after the Pacific Northwest’s largest industrial property finally traded hands for quite the fee. The Northwest Corporate Park in Kent was acquired by an affiliate of New York-based private equity fund manager KTR Capital Partners. The deal cost the buyer a staggering $170 million, a price tag that makes the transaction the largest of its kind in the entire Northwest, and one of the reference points of the West Coast real estate market in 2013.
Work Resumes on Schofield Building Conversion; Eight Northeast Ohio Projects Receive Historic Preservation Tax Credits
After a 3-year break, work is restarting on the conversion of the 14-story Schofield Building in downtown Cleveland. The $50 million project will deliver a 122-room hotel, 55 luxury apartments, a ground-floor restaurant and retail space at East Ninth Street and Euclid Avenue by late 2014.
Construction to Start This Month on University Station’s $54M First Phase
Xavier University is getting ready to start work together with Messer Construction Co. and Ackermann Group on a long-delayed apartment and retail development at Montgomery Road and Cleneay Avenue, adjacent to the university’s campus.
Waikiki Office Building Undergoes $5.5M Renovation
San Diego-based real estate investment firm Parallel Capital Partners has completed the $5.5 million renovation of the 10-story office building in downtown Honolulu.
Clear Lake Regional Medical to Offer Enhanced Care after $92M Expansion
Clear Lake Regional Medical CenterLooking to better serve the Bay Area Houston community, Clear Lake Regional Medical Center has invested $92 million in a comprehensive expansion that included the addition of a new patient tower.
Ryan Cos. Awarded Parking Ramp, Skyway Construction Contract
Ryan Companies has been awarded the parking ramp and skyway construction contract as part of the $975 million new multi-purpose Viking’s stadium development which will replace the Metrodome. The announcement was made by The Minnesota Sports Facilities Authority, which mentioned that the stadium legislation calls for 2,000 parking spaces connected by skyway and 500 within one block of the new stadium.
HFF Arranges $120M Financing for Plano Office Towers
As the economy continues to strengthen, the Plano submarket is primed to release new office product. Other Metroplex submarkets could also add to their development pipelines.
Proposed Alexandria Athletics Complex Would Be Largest in D.C. Area
The city of Alexandria has received an unsolicited proposal from the St. James Group LLC to develop a huge athletics complex on the 15-acre Hensley Park. If constructed, the St. James Sports & Entertainment Complex would be the largest athletics complex in the Washington D.C. area, featuring baseball, ice hockey, rock climbing and more.
Yardi Commercial Leasing Pad Wins for Most Innovative Technology
Yardi Commercial Leasing Pad, an end-to-end mobile leasing and tenant support solution developed in 2012 and released this year has already received industry recognition this month with the Realcomm Real Estate Digital Innovation Award for in the category of Most Innovative Technology.