News
Carespring Breaks Ground on $24M Transitional Care Center in Northern Kentucky
Carespring Health Care Management broke ground on Monday, February 18, on a new transitional care facility in Cold Spring, Kentucky. Governor Steve Beshear, State Representative Dennis Keene and Judge-Executive Steve Pendery attended the ground breaking ceremony held at 300 Plaza Drive along with other elected officials and business representatives.
JLL Tapped to Market 143-Branch SunTrust Net Lease Portfolio
Inland American REIT wants to sell its 143-branch SunTrust Net Lease Portfolio, and the real estate company has selected Jones Lang LaSalle’s Capital Markets Group to find a buyer for the group of assets, which is valued at more than $275 million.
Hebron Properties Brings ‘Great Australian Living’ Concept to Bangalore
Hebron Properties, one of India’s premium real estate developers, has launched an ultra-luxury residential project near T.C. Palya in K.R. Puram in Bangalore.
City Center, Angelo Gordon JV Buys 320 KSF Office Space in Minneapolis
A JV of City Center Realty Partners and Angelo, Gordon & Co. has acquired the 320,000-square-foot office portion of the Plaza Seven building at 45 S. Seventh St. in downtown Minneapolis.
Economy Watch: Gas Prices Pause in Upward March; Truck Tonnage Up
Gas prices went down slightly over the weekend. And the American Trucking Associations’ For-Hire Truck Tonnage Index increased 2.9 percent month over month in January.
Bank of Hawaii Waikiki Center Changes Owners
Shoei USA Inc. has acquired the Bank of Hawaii Waikiki Center from Honolulu-based Pacific Office Properties Trust Inc. and its Mainland partner. According to the Pacific Business News, NAI ChaneyBrooks represented the buyer in the transaction. Financial terms of the deal were not disclosed.
Located at 2155 Kalakaua Avenue near the Waikiki Beach Walk, this landmark nine-story property offers more than 150,000 square feet of office and retail space, along with 219 parking stalls. Its tenants include Bank of Hawaii, Starwood Hotels & Resorts, Aston Hotels, JTB Hawaii, 7-Eleven and the Teddy Bear World.
Last May, the building’s former owners put the property on the market for $38 million. Larry Taff, president and CEO of Pacific Office Properties, told the newspaper that the company’s partner, a group of Mainland investors, owned an 83 percent interest in the property.
GID Development Reveals Phase Two of Regent Square Mixed-Use Project
Following the August 2012 groundbreaking of the Regent Square mixed-use project, GID Development Group is now lining up plans for a second phase. Phase Two will add an Alamo Drafthouse Cinema, another residential component, and 15,000 square feet of restaurant space to the project set in the heart of the Inner Loop.
Forest Park Medical Center Starts Construction on $140M Physician-Owned Hospital
Forest Park Medical Center has started construction on its fourth hospital in the Metroplex, a 150,000-square-foot facility that is being built in southwest Fort Worth. The $140 million medical center will sit on an 8-acre site in the Edwards Ranch development.
Washington REIT Hires Cassidy Turley to Sell Region’s Largest Institutional-Quality Medical Office Portfolio
The Washington Real Estate Investment Trust (WRIT) has recently selected Cassidy Turley to sell its 1.3 million square foot medical office portfolio in the Washington, D.C. region. The Cassidy Turley team that will market the portfolio is formed of Paul Collins, Bill Collins, Jud Ryan, Drew Flood and James Cassidy. J.P. Morgan will be co-agent.
$25M Sports Complex Debuts on ASU West Campus
A new $25 million fitness complex is about to open on the Arizona State University West campus in Phoenix. The 63,800-square-foot facility will complete a major expansion project on the West campus.