News
Economy Watch Weekly: Not a Bad Week, Save for Goldbugs
CPE’s economic analyst, Dees Stribling, gives his update for the week ending April 19.
Cassidy Turley Lands 195 MSF Corporate Services Contract with Georgia
Cassidy Turley’s activities in the state of Georgia just mushroomed by 195 million square feet. The commercial real estate services firm has been tapped by the Georgia State Properties Commission to provide a wide range of corporate services to achieve efficiency and cost savings for its sprawling portfolio of leased and owned real estate properties.
W Hotel, Residences to Debut in Tel Aviv
Starwood Hotels & Resorts Worldwide is bringing its W hotel brand to Israel. The company is partnering with private investment firm RFR Holding, to develop the country’s first W branded hotel.
Union Square L.L.C. Receives $400M in Loan Refinancing for Seattle Skyscrapers
Union Square L.L.C., owned by Washington Real Estate Holdings and a major pension fund investor, received $400 million in refinancing for Union Square, two office buildings in Seattle.
Economy Watch: Existing Home Sales Dip; Chicago Fed: Economic Activity Down
Total existing home sales dropped 0.6 percent to an annualized rate of 4.92 million units in March. And the Chicago Fed National Activity Index (CFNAI) decreased to –0.23 in March from +0.76 in February.
Hertz Investment Acquires 650,000 SF Office Property in Indianapolis
Hertz Investment Group of Santa Monica, CA has closed on the purchase of the 650,000 square-foot Capital Center Office Tower Complex in Indianapolis from Invesco Real Estate. The local office of CBRE represented the seller in the transaction.
According to the Indianapolis Business Journal, the complex is the 12th-largest in the city and the fifth-largest downtown.
Located on Illinois Street, between Ohio and New York streets, the two-building Class A office property is comprised of the 17-story North Tower and the 22-story South Tower. Amenities include an underground parking structure with 525 spaces, two restaurants, conference facilities, a sundry shop, a coffee shop and a fitness center.
Lenexa City Council Approves $64M Luxury Apartment Development for City Center
A new luxury apartment project has been approved by the Lenexa City Council for its City Center mixed-use development.
Community College Breaks Ground on 37KSF Facility; Hyatt Place Germantown Sold for $11M
Northwest Mississippi Community College is keeping up with the Mid-South’s increase in manufacturing operations by the addition of a new Mechanical Technology Building, as part of the college’s Career-Technical facilities.
NYC’s First Apartment Building Composting Program Unveiled
The Helena apartment building on Manhattan’s West Side is the first in New York City to offer residents regular food scrap collection through the city’s Organics Collection Program, according to The New York City Department of Sanitation (DSNY) and The Durst Organization.
Improving Jacksonville Industrial Market Attracts 1M SF Distribution Center
Since the Jacksonville Business Journal first reported that a mystery firm is looking to develop a one million-square-foot distribution/warehouse center to the St. Johns Water Management District, this has been the talk of the entire local commercial real estate community.
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