News
Construction is Imminent at the Former Boston Herald Site
One year after Newton-based National Development unveiled plans to convert the former Boston Herald headquarters into a mixed-use complex, work is about to begin at the 6.6-acre site at the corner of Herald Street and Harrison Avenue.
149-Room HYATT house Atlanta/Cobb Galleria Opens
Atlanta is now home to the first HYATT house hotel in Georgia, following this week’s opening of the 149-room HYATT house Atlanta/Cobb Galleria. The result of a joint effort between Hyatt Hotels Corporation, Noble Investment Group and Interstate Hotels & Resorts, the HYATT house Atlanta/Cobb Galleria is located in Atlanta’s Northwest Corridor at the intersection of Interstate-75 and Interstate-285 in the Cobb Galleria.
Interserve, Tiger Developments JV to Build $300M M-U Project in Edinburgh
Britain’s Interserve Plc has signed a joint venture deal with Scottish landowner Tiger Developments to construct and invest in the Haymarket area of Edinburgh.
Allegheny County Health Department Site to Bring New Hotel and Offices
A development team comprised of Massaro Properties, the Langholz Wilson Ellis real estate firm, and architect Tasso Katselas Associates will repurpose the health department building in Oakland into hotel and office space.
According to the Pittsburgh Post-Gazette, the developers are about to acquire the property currently owned by Allegheny County for $4.9 million. The group hopes to finalize the sale by the end of the year, after a period of due diligence.
Economy Watch: March Job Growth Sputters; Retail Vacancies Decline Slightly; S-F Home Rents Stagnate
The U.S. economy created only 88,000 jobs in March, a drop from February. The average vacancy rate for U.S. regional malls dropped to 8.3 percent in the first quarter of 2013, down from 8.6 percent in the fourth quarter of 2012. And rents for single-family houses have leveled off nationwide.
Ascend Hotel Collection Opens Three Properties In Baltimore
Ascend Hotel Collection announced last week its debut in Baltimore, with the opening of three boutique hotels in the vibrant waterfront neighborhoods of Inner Harbor and historic Fells Point. Just last month, the company expanded its fast-growing portfolio with the addition of new boutique hotels in Napa Valley, Sedona, Carmel and New Orleans, and it plans to open even more properties in such premier destinations as Las Vegas, Aruba, Miami, Orlando and Cape Cod.
Baptist Hospital Opens Specialized Medical Center; Meharry Medical Expands Educational and Housing Facilities
Another member of Saint Thomas Health, Middle Tennessee’s not-for-profit, faith-based health system has announced an important expansion.
Jamestown Acquires Retail/Office Portfolio in Downtown San Luis Obispo, Calif.
Jamestown has acquired more than 200,000 square feet of retail and office space in downtown San Luis Obispo, Calif., from Copeland Properties.
Port Authority Starts Demolition at Bond Hill Site to Make Way for $75M Redevelopment
The Port of Greater Cincinnati Development started work on Thursday, March 28, on a project that will redevelop the site of Cincinnati’s first multi-store open-air mall. Cincinnati Mayor Mark Mallory, Vice Mayor Roxanne Qualls, City Manager Milton Dohoney, Jr., Laura Brunner, President, CEO, Port of Greater Cincinnati Development Authority, and Hamilton County Commission President Chris Monzel were in attendance as construction crews started tearing down a vacant restaurant and the 32-foot billboard-style Swifton Commons shopping center sign.
CCPT III Responds to ARCP’s Newset Offer
After receiving a third unsolicited takeover bid from American Realty Capital Properties, Cole Credit Property Trust III today said its Special Committee was reviewing the latest proposal that would increase the cash portion of ARCP’s $9.7 billion proposal from 20 percent to 60 percent.