News
Economy Watch: Mortgage Delinquencies Drop; Consumer Sentiment Still Elevated
Fannie Mae reported that the serious delinquency rate for the mortgages that it owns and insures dropped in May to 2.83 percent from 2.93 percent in April. And consumer sentiment in June was 84.1, an improvement from a preliminary reading of 82.7 released on June 14.
New Orleans Tops List, as City Rebuilds
What was just a few years ago hard to even imagine, seems like the factual future now for the Crescent City: New Orleans has made it to the number one slot on a Forbes magazine list
Sound Transit Breaks Ground on Permanent Facility in Tukwila
The Sound Transit transportation system is seeing a one of its temporary constructions replaced by a permanent facility as a development project for a new Tukwila station has recently begun. Sound Transit has broken ground on a new $46 million structure to replace the temporary facility at 7301 Longacres Way that was built back in 2000. The route is a 1.300-boardings-a-day line used by commuters going to and from Seattle.
Hackman Capital JV Acquires 16 Cleveland-Area Buildings as Part of 28-Asset Ohio Industrial Portfolio
A joint venture led by Hackman Capital Partners LLC, a privately held, asset-based investment firm headquartered in Los Angeles, has recently purchased 28 industrial buildings and two land parcels located in the state of Ohio. The transaction of the industrial real estate portfolio totaling 2,593,602 square feet closed on Friday, June 14. Hackman Capital Partners did not disclose the purchase price.
Cincinnati Streetcar Gets $17.4M in Additional Funding
The Cincinnati Streetcar project is back on track. Last Wednesday, City Council voted to give it a $17.4 million infusion of cash, bringing the total cost of the project to $133 million, from the original $110 million.
CPE Announces the 2013 Distinguished Achievement Award Winners
CPE is proud to present the winners of the 2013 Distinguished Achievement Awards.
Terminix Inks Westgate’s Biggest Office Lease; Griffin Pays $54.5M for Deer Valley Office Complex
Terminix plans to expand its operations to Arizona and open a new customer care center at Westgate Entertainment District in Glendale.
Brown, RIC and URI Unveil $206M Redevelopment Plan for Providence’s Dynamo House
Brown University, Rhode Island College (RIC), and the University of Rhode Island (URI) have announced plans to repurpose the long-vacant South Street Power Station in Providence into a shared 120,000-square-foot RIC/URI nursing education center, 150,000 square feet of upper-level student housing, 120,000 square feet of office space, as well as restaurants, retail space, and new parking facilities.
Kane Realty Plans $82M Office High-Rise in North Hills
Kane Realty is planning to develop an 18-story office tower at North Hills in Raleigh. According to the NewsObserver, the company expects to break ground on the $82 million project by December.
Microsoft to Create its First Retail Store in St. Johns Town Center in Jacksonville
Rumors that Microsoft will build its first Jacksonville-area retail store have just been confirmed.