News
Gardens at Market Square Mixed-Use Development to Break Ground in July
Millcraft Investments’ plan to develop a $95 million mixed-use complex on Forbes Avenue in downtown Pittsburgh has received its final approval from the city planning commission.
Luxury Multifamily and Boutique Retail Mixed-Use Development Kicks Off Pre-Leasing
H.G. Hill Realty Company has announced the start of preleasing residential units at 12South Flats, the mixed-use project rushing towards completion in Nashville’s 12 South restaurant and retail district.
SLC to Build Broadway-scale Performing Arts Venue after City Council Approves $18 Million Boost
A $100 million dollar feature is edging closer and closer to Salt Lake City’s downtown.
TRAX Extension Receives $116 Million from the Federal Transit Authority
By Alex Girda, Associate Editor
The Federal Transit Administration has agreed to grant $116 million to a Salt Lake City transportation project. The local community will benefit from a TRAX extension from Sandy to Draper, a project that according to federal official Peter Rogoff will provide “reliable and desirable transit” to the aforementioned communities. Rogoff, the […]
TIAA-CREF Takes 50% Stake in Grand Canal Shoppes; GGP Reaps $410M
Recent deals announced in the Las Vegas retail market indicate the area’s growing potential as an investor’s market, with a partnership between General Growth Properties and TIAA-CREF being revealed as the new ownership structure of the Grand Canal Shoppes, including the Shoppes at Palazzo. General Growth Properties sold 50 percent of its stake to the Teachers Insurance and Annuity Association – College Retirement Equities Fund. The transaction reportedly generated approximately $410 million in net proceeds.
Plans for Convention Center-Area Hotels, Airport Renovation Advance
Set to be developed on a 3.26-acre site at the southwest corner of West 100 South and South 300 West, located in the immediate vicinity of the Energy Solutions Arena. Apart from the 19,000-seat sports arena, the development will also be near the Salt Lake Palace Convention Center and the city’s Temple Square, its largest tourist spot. Retail options in the area will be ensured via the large City Creek and Gateway retail centers, with a combined square footage of over 1.5 million square feet.
IHG Expands Jeddah Portfolio with City’s First Staybridge Suites
IHG has inked an agreement with Dyafah Al Mutahida that will see a new Staybridge Suites open in the city of Jeddah, Saudi Arabia.
Liberty Property Buys 291 KSF Office Building in DC for $133M
Liberty Property Trust acquired 2100 M St., N.W., Class B-plus, 291,000-square-office building in Washington, D.C., that has the potential to add more than 100,000 square feet, for $133 million from Hines.
DAMAC Properties Breaks into Iraq RE Market with $100M Residential Tower
The leading private developer of luxury projects in the Middle East, Damac Properties, has announced a comprehensive expansion plan into Iraq, a previously untapped market for the development giant.
Economy Watch: New Home Sales Up in April; Stocks Roiled Worldwide
New home sales were at an annualized rate of 454,000 units in April, up from 444,000 in March. And equity markets worldwide had an unusually rough day on Thursday.