News
Market Uptick Prompts Plans to Build 2 Hotels on Olentangy Rd.
Hotel occupancy in the Midwest continues to recover from the low levels of the recession. In Ohio it rose to 56.5 percent, according to Marcus&Millichap. The increase is a result of a decline in available rooms.
C&W Arranges $79M Financing Deal for 2 MSF Charlotte-Area Industrial Portfolio
The Keith Corporation Portfolio, a 2 million-square-foot collection of Class A industrial assets in and around metropolitan Charlotte, has been snapped up by a JV with the assistance of $78.5 million of acquisition financing.
Hotel’s Conversion from Sahara to SLS Las Vegas Finally Starts
Las Vegas’ Sahara Hotel & Casino, which closed in 2011 after decades as a Sin City icon, is finally beginning its transformation into the SLS Las Vegas.
Rubenstein Acquires 500 KSF Boston-Metro Office Portfolio
Rubenstein Partners purchased CenterPoint, a 500,000-square-foot office park in Waltham, Mass., for $68 million in a JV partnership with Saracen Properties.
Economy Watch: Retail Sales Inch Up; SoCal Sees Brisk Home Sales
U.S. retail sales grew at their slowest rate in three months, up by 0.1 percent in January, compared with December. And SoCal’s housing market started 2013 with the highest January home sales in six years.
Moffitt Cancer Center to Add $74.2M Facility in Phase I Expansion
In a move to expand its Tampa footprint, Moffitt Cancer Center has recently broken ground on a 200,000-square-foot outpatient facility on its McKinley campus. A groundbreaking ceremony was held on February 1; special guests and speakers included Moffitt CEO Alan List, survivor Ron Giovannelli, State Surgeon General John Armstrong, Florida House Speaker Will Weatherford,
Prime Properties Breaks Ground on $70M Retail Development in South Valley
The long awaited Las Estancias retail project in the South Valley is finally set to break ground. Scheduled for February 16, the groundbreaking ceremony will mark the first phase of the area’s first large-scale retail development, a project that has been in the works for several years.
Boston Properties Acquires In-Development High-Rise in South Financial Submarket, Sets Sights on Mixed-Use Opportunity in Virginia
535 Mission Street is a project for a 27-story building, with a massive height of 378 feet. The building will offer 307,000 square feet of leasable Class A office and retail space in a LEED Gold certified environment. The property is set to cater to tech tenants looking to relocate or expand in the booming tech-oriented office market of the San Francisco Bay area. Design-wise the building will feature a glass front, column free floor plates and will offer residents views of San Francisco and the neighboring bay. The development process could take the company’s overall investment in the office property to around $215 million, a recently issued company statement shows. A completion date is set for the fall of 2014.
University of South Carolina Keeps Local Student Housing Market Hot
Student housing, a nationwide trend, has been for some time now, one of the most dynamic markets in South Carolina, especially in Columbia. One of the main drivers of the local housing boom has been and continues to be the University of South Carolina (USC), which has steadily increased it student body.
Newalta Corp. Leases Office Space at 1801 California Street; Corporate Center at InterQuest Falls into Foreclosure
Canada-based industrial services company, Newalta Corp., has leased a floor in the 1801 California Street high-rise in downtown Denver, The Denver Business Journal reports. The company is set to open its first Colorado office in the building which previously was the home of Qwest Communications International and now includes offices of CenturyLink Inc., which acquired Qwest. Continue reading →