News
Robertson Properties Group’s Mixed-Use Development Under Review
The Honolulu Department of Planning and Permitting is currently reviewing Robertson Properties Group’s plans for a $767 million, 1,500-home mixed-use project in Aiea.
Called “Live, Work, Play Aiea,” the project will be developed on the site of the former Kamehameha Drive-in property across from Pearlridge Center. It will also include about 143,000 square feet of retail and restaurant space, and as much as 80,000 square feet of office space.
Hines Sells Iconic Williams Tower to Invesco for $412M
The previously reported sale of Hines’ 1.4 million-square-foot William Tower to Invesco Real Estate came through this week, with the new owner paying $412 million for the trophy tower, according to Reuters.
Campbell Mithun Considers Move from Namesake Tower
After residing at the Campbell Mithun Tower in Minneapolis since 1985, Campbell Mithun could move out after the advertising agency has started looking at various real estate options in downtown Minneapolis.
Hall Financial Breaks Ground on 200,000-SF Office Building in Frisco
Due to the high demand for multi-tenant office space in Frisco, Hall Financial Group has recently broken ground on the 16th office building in Hall Office Park. The 200,000-square-foot Class AA office building will be built on one of the two remaining development sites in the 162-acre office park.
Insight Prepares to Add TODs Valued at $153M to DC Area
Insight Property Group announced on Monday it recently started work on two major transit-oriented apartment projects in the Washington, DC area. The Arlington, Virginia-based multifamily developer also said it is nearing completion on a third project. The total cost of these three projects is $153 million.
Wood Partners Delivers First Units of Luxury $32.7M Alta at Lake Eve
Wood Partners is making headlines for the second time this month; after having recently broken ground on its 200-unit Rialto apartment complex in southwest Orlando, the company is now announcing the official opening of its newest multifamily community, the $32.7-million Alta at Lake Eve.
Facebook Hunting for Office Space, Plans a Return to Boston
Commercial real estate brokerage Newmark Knight Frank is on a mission to find around 7,000 square feet of office space office space for Facebook, the Menlo Park, CA-based social media giant. Founded nine years ago by then Harvard student Mark Zuckerberg, the $66 billion social media giant is looking to return to the Kendall Square area of Cambridge and be near the MaSSACHUSETTS Institute of Technology (MIT) and other major tech companies such as Microsoft, Google and Nokia.
Metro Atlanta Successfully Attracting Corporate Expansions and Relocations
Recent leases and expansions stand as clear proof of the increasing attractiveness of the metro Atlanta area for both national and foreign companies. Outsourcing giant Infosys has recently disclosed an expansion strategy for its Cumberland location in Cobb County that involves adding approximately 200 new jobs in the next fiscal year.
Bixby Office Park Acquired for $85 Million; TIAA-CREF Expands Portfolio With Industrial Purchase
It was recently announced that the Bixby Office Park was recently acquired by a private, fully-integrated real estate investment company. Parallel Capital Partners sealed a deal worth approximately $85 million to secure the commercial asset in Seal Beach, CA. This constitutes the largest office transaction in Orange County in 2013. The seller was a large national insurance company, represented by an Eastdil Secured team consisting of Adam Edwards and K.C. Scheipe. The buying entity was PCPI BIXBY LP, an affiliate of Parallel Capital, who represented itself. Continue reading →
Record of Decision Makes Baltimore Red Line Eligible for Future Federal Funds
Governor Martin O’Malley has announced on March 5 the Baltimore Red Line has received federal environmental approval. The Federal Transit Administration’s approval is called a record of decision. It makes the project eligible for future federal funding.