News
Economy Watch: Pending Home Sales Rise; Income, Savings Edge Up; Initial Claims Back Down
NAR’s Pending Home Sales Index increased 6.7 percent in May. Both personal income and disposable personal income increased in May compared with April. And initial unemployment claims yo-yoed back down again last week.
JBG Debuts 474-Unit M-F Project Near Rosslyn Metro; Luxury Condo Conversion in Pipeline
Arlington County officials joined the JBG Cos. on the morning of June 19 to celebrate the opening of Sedona|Slate, a modern mixed-use community in the Rosslyn area. It is the first Arlington County development slated to earn LEED Gold certification.
Tax Breaks to Promote 4 Expansion Projects in Central Ohio
Persistent Systems Inc., Zipline Logistics LLC, NEX Transport Inc. and ISS America Inc. will soon bring 135 new jobs to central Ohio. On Monday, June 24, the Ohio Tax Credit Authority approved 15 projects statewide for tax incentives. The four companies are among these 15 projects expected to create a total of 831 new jobs.
Crescent Buys 2 Acres in Downtown Orlando’s Central Station
It’s a small purchase, but it moves a major mixed-use development in downtown Orlando a step closer to fruition. Crescent Communities has purchased a two-acre site in Orlando’s CBD from RIDA Development Corp.
Acquisition Loan in Place for 230-Unit Suburban Dallas M-F
It may seem that lenders only go for the easy deals these days, but the acquisition financing that Beech Street Capital just closed for The Place at Park Timbers, a 230-unit multi-family asset in Lewisville, Texas, proves otherwise.
CBRE Global Investors Fund Acquires 2-Building Office Asset in Dallas
CBRE Strategic Partners U.S. Value 6 continues adding to its holdings with the purchase of Signature Place I and II, a 437,363-square-foot, two-building, Class A office property in the Far North Dallas submarket.
Economy Watch: 1st-Quarter GDP Revised Downward; Most States See Coincident Indexes Rise; Car Sales Up
Real gross domestic product increased at an annualized rate of 1.8 percent in the first quarter of 2013, which represents a downward revision of the Bureau of Economic Analysis’ previous estimate. In May, coincident indexes increased in 33 states. And the annualized sales rate for new cars is predicted to be 15.7 million units in June, up from 15.3 million in May.
Ground Breaks on $450M Brigham Research, Clinical Facility in Boston
Boston’s status as the leading life sciences hub in the country will only be bolstered now that ground has broken on Brigham and Women’s Hospital’s $450 million Brigham Building for the Future.
Dubai Hosts World’s Greenest Commercial Building
Home to the tallest, largest and other record-breaking facilities, Dubai has now risen to the zenith of green building standards.
Street-Works, Beal Cos. Bringing 3.5 MSF M-U Development to Quincy
Street Works Development and The Beal Cos. have teamed with the city of Quincy, Mass., on Merchants Row, the first major block of mixed-use development and pedestrian-friendly public space that is the first phase of the Quincy Center Master Development Plan.