News
Hines Breaks Ground on Luxury Apartment Community near Boston
Hines’ newest luxury multifamily project in the Boston area kicked off this week at 36 River Street in Waltham, MA. Located just 10 miles west of downtown Boston, 36 River will create new high-quality housing opportunities for the city while supporting area businesses and community development along the Charles River.
West Angeles Community Development Corporation Debuts New Community-Helping Project
A brand new development was recently unveiled in the Crenshaw Corridor, bringing the spotlight on an area of the city that has been in serious need of a makeover. The $8.5 million investment was handled by the West Angeles Community Development Corporation and Union Bank and is located at 3501 Jefferson Boulevard. Continue reading →
Apartment Property in Downtown Memphis Sold for $43.6M; East Memphis Marriott Picked Up for $4.2M
Riverset, a 500-unit apartment community on Memphis’ Mud Island has just sold in a rare deal for the downtown Memphis apartment market.
Avison Young Named Exclusive Sales Agent for 644 East 14th in Manhattan
A 10,106-square-foot corner parcel located at 644 East 14th Street in the East Village neighborhood of Manhattan is being marketed by Avison Young’s New York City-based investment sales team lead by principals Neil Helman and Charles Kingsley.
Tridel, Hines Launch Green 363-Suite Condo Project in Toronto
Tridel and Hines are set to launch their new condominium development called Aqualina at Bayside Toronto. The project represents the first residential phase of a 13-acre mixed-use development called Bayside Toronto.
Regency Properties Picks Up 170 KSF Shopping Center in Florida
Regency Properties increases the square footage of its Florida portfolio fivefold with the purchase of the 170,000-square-foot Oak Station Shopping Center in Marianna.
Clarion Sells 50% Stake in IN Retail Fund to Inland
Inland Real Estate Corp. acquired the 50 percent ownership stake in IN Retail Fund held by its JV partner, New York State Teachers Retirement System, for $121 million in cash, making it the sole owner of the 2.3 million-square-foot Midwest retail center portfolio.
Economy Watch: U.S. Gains 175K Jobs in May; Household Net Worth, ISM Non-Manufacturing Index Up
The economy created 175,000 jobs in May, compared with a rise of 149,000 in April, which was surprisingly on the upside. Household net worth increased during the first quarter of 2013 compared to the previous quarter. The Institute for Supply Management reported that its Non-Manufacturing Index came in at 53.7 percent in May, 0.6 percentage points higher than in April.
One Publix-Anchored Shopping Center Trades Hands
While Gold Krown LLC has just sold its 147,417-square-foot Publix-anchored shopping center in Vero Beach, developer Stiles has broken ground on a $35 million Publix grocery store-anchored retail shopping center in Hollywood, Fla.
Former Marriott Converts into Crowne Plaza
InterContinental Hotels Group has announced the opening of Crowne Plaza Charlotte Executive Park, the Crowne Plaza brand’s newest location.