News
Crescent Communities Breaks Ground on 63-Acre Mixed-Use Alexander Village in Charlotte
Crescent Communities (formerly known as Crescent Resources) has announced breaking ground on the 63-acre health club-inspired Alexander Village.
Phillips Edison Purchases 2 Shopping Centers in Tampa Bay Metro Area
Phillips Edisor-ARC Shopping Center REIT has shown a great deal of interest in metro Tampa properties this past week, having purchased two Publix-anchored grocery stores in the area.
ARCP’s Schorsh on CCPT III: ‘We Wish Them Well, but We’re Out’
In an interview with CPE on Thursday, American Realty Capital Properties’ chairman & CEO talked about his company’s decision to back off from its aggressive pursuit of Cole Credit Property Trust III with a $9.7 billion bid.
Forest City Launches $7M Makeover of Galleria at Sunset
One of the area’s largest retail properties is set for a makeover as the Galleria at Sunset in Henderson looks to start its first renovation process. Operations at the property are set to commence this month and last until later this year, with an estimated budget of approximately $7 million being prepped for the makeover. One of only three enclosed non-outlet malls in the Las Vegas Valley not located on the Strip, the Galleria is part of Forest City Enterprises’ portfolio, the company also being responsible for operating the shopping mall.
Austin Lawrence to Develop $40M Mixed-Used Tower in Durham’s Historic District
The Historic Preservation Commission has approved the construction of a 26-story mixed-use building in the heart of downtown Durham. According to the NewsObserver, the proposed “City Center” high-rise will include 25,000 square feet of ground floor retail; 70,000 square feet of offices; and 133 luxury apartments on the upper 21 floors.
Austin Lawrence Partners of Colorado is developing the project, which will be located inside the city’s historic central business district, at the former Woolworth’s site between Parrish and Main streets. Last November, the company purchased the site, along with four adjacent buildings which will be incorporated in the new development. Greenfire Development sold the properties for $3 million.
L’Oréal, SAP Take 500 KSF of Office Space at NYC’s Hudson Yards
The South Tower at the 13 million-square-foot mixed-use project being developed by Related Cos. and Oxford Properties Group has just reached a total of 80 percent in occupancy commitments with two new lease agreements.
ULI, E&Y Project Rally in RE Capital Markets, Strong Housing Growth
What a difference six months make. The new real estate forecast from the Urban Land Institute and Ernst & Young shows expectations for growth–particularly in capital markets, housing and CRE fundamentals, have jumped from the previous report.
Prologis Inks Deal with Subaru for 715 KSF near Indy
Prologis Inc. has signed a build-to-suit agreement with Subaru of America for a 715,000-square-foot distribution center in the Indianapolis area.
Economy Watch: Fed Mulls Fate of QE3; Vegas Residential Market Normalizing; Mortgage Delinquencies Down
Some members of the Federal Reserve’s Open Market Committee brought up during its March meeting phasing out QE3 sooner rather than at an unspecified date. The Greater Las Vegas Association of Realtors reported that for the first time in years, non-distressed sales have accounted for more than half of all local home sales so far in 2013. And mortgage delinquencies are still on a downward trend.
Twitter Chat with Bob Bach
Join us for a live Twitter chat with Newmark Grubb Knight Frank National Director of Market Analytics Robert Bach on April 18, 2013 @ 2:00 p.m. (EST) Questions about today’s outlook for the commercial real estate leasing and capital markets? Wondering which property types and metros will outperform over the next few years? Robert Bach will be chatting on Twitter with CPE editors, welcoming your questions. The national director of market analytics at Newmark Grubb Knight Frank has unique insight based on his 35 years of experience in real estate market research, consulting and city planning, and is widely quoted…
You must be logged in to post a comment.