News
CardioNet to Relocate Headquarters to Class A Office Building in Malvern
Here North America, LLC, formerly known as NAVTEQ, a Chicago-based provider of Geograpfic Information Systems (GIS) data and electronic navigable maps, has recently closed on a sublease transaction with CardioNet.
First Hyatt House Hotel in Pittsburgh Now Open
Hyatt Hotels Corporation, Concord Hospitality Enterprises and Oxford Development Company have recently celebrated the opening of the first HYATT house hotel in Pittsburgh.
Community Health Center in South Providence Enters Final Phase of Construction
The $45 million development of the Federated Lithographers mill building in the South Providence neighborhood has entered its second and final phase of construction.
Carlson Rezidor Signs Three New Hotels in China
Carlson Rezidor Hotel Group continues its expansion in Asia by signing three new hotels in China. Currently the group has 33 hotels in operation and under management in the East Asian country.
Redbury Hotel to Bring Hollywood Glamour to South Beach
A unique partnership between Sam Nazarian’s SBE, Levy Restaurants founder and chairman Larry Levy and developer Bob Heyat will soon bring the award-winning Redbury hotel concept to South Beach.
Economy Watch: Foreclosures Dropping; Household Wealth Not Recovered; Unemployment Rises
There were about 52,000 completed residential foreclosures in the U.S. in April 2013, down from about 62,000 in April 2012, for a year-over-year decrease of 16 percent. Average household wealth is only about halfway back to pre-recession levels. And for the week ending May 25, initial unemployment claims increased by 10,000 from the previous week.
Midtown Manhattan Hospitality Market Heating Up with New EVEN, SpringHill Hotels
InterContinental Hotels Group (IHG) announced it has decided on a second location for a new EVEN Hotels property in New York City, under an ownership group led by long time business partners Frank Chan and Lance Steinberg. Located at 321 West 35th Street in Midtown Manhattan, the new EVEN Hotels property will add 150 guest rooms over 25 guest rooms floors to the city’s ever-growing hospitality market.
Summit Grabs Six Hotels in Deals Totaling $170M
During the period between the closing of its initial public offering in February 2011 and the end of 2012, Summit Hotel Properties Inc. amassed a portfolio of 24 properties, and with the recent purchase of six assets for an aggregate $170 million, there appears to be no end in sight to the company’s shopping spree.
Digital Realty Acquires Six-Building Portfolio for $31.9M
The six-building portfolio of operating data centers and flex office space at the MetCenter Business Park in Austin has changed owners, moving under the Digital Realty Trust Inc. umbrella. The acquisition price was $31.9 million.
Digital Realty Acquires 337 KSF, Six-Building Portfolio in Austin
Digital Realty Trust, already the world’s largest data center REIT, continues boosting its United States portfolio with the acquisition of a six-building holdings totaling 337,000 square feet in Austin, Texas.