News
Crescent Resources Plans New Residential Community, Purchases 221 Acres
Crescent Resources, LLC a long-time developer and manager of both commercial and residential properties throughout the Southeastern US and Texas, has just purchased 221 acres of land in Franklin, Tennessee, from South Carothers Partners, LLC.
Rezidor Signs Four New Hotel Projects, Opens Five New Hotels in 4Q12
The Rezidor Hotel Group announced that the final quarter of 2012 was a successful one, as the Belgium-based group signed four new hotels with more than 1,200 rooms and opened five new ones with 1,100 rooms.
Recent Transactions in Bay Area and Silicon Valley Cement Area’s Appeal
The 520,000-square foot building located at 1221 Broadway has served as Clorox’ HQ since 1988 and will continue to be used by the household item manufacturer as per the terms of the sale. The company has opted to sell its 24-story office tower due to an ongoing process of moving a large chunk of its workforce to its new office and research campus in Pleasanton. Clorox will stay on as the building’s anchor tenant, a long-term lease being agreed for around 300,000 square feet of space in the 1976-built highrise.
Bernards, Colombo Break Ground on New California Hospital
Ground is scheduled to break in February on the new $56 million Tehachapi Hospital in Tehachapi, Calif.
Self-Storage Complex Goes Green; Millstone Medical Moves to New 150,000-Sq.-Ft. Facility
Absolute Storage Management, a Memphis-based national self-storage company has taken another step down the eco-friendly road.
JLL, HSBC Sign Record-Setting Facilities Management Contract
In what reportedly is the largest outsourcing contract of its kind by a financial services firm, Jones Lang LaSalle has been selected by banking giant HSBC as its sole global outsourcing provider of integrated facilities management services.
Phillips Edison–ARC Shopping Center REIT Acquires 508 KSF Shopping Center Portfolio in Atlanta
Phillips Edison-ARC Shopping Center REIT has started the new year where it left off in 2012 – with another acquisition – a portfolio of six grocery-anchored shopping centers in the Atlanta area, which the Cincinnati-based REIT acquired for $60.5 million.
Economy Watch: IMF More Optimistic About Growth; Architects Billing More; House Votes to Suspend Debt Ceiling
The International Monetary Fund said that global economic growth will strengthen in 2013. Business conditions at architecture firms continue to improve. And the House passed a bill to “suspend” the debt ceiling for three months.
Weingarten Realty Sells Two Shopping Centers in Colorado Springs for $31.5M
Two shopping centers in Colorado Springs have been sold by Houston-based Weingarten Realty for $31.5 million.
$7B REIT to Emerge from Spirit, Cole Merger
There are advantages to being one of the big kids on the block and Spirit Realty Capital and Cole Credit Property Trust II Inc. are about to join forces to become part of the higher echelon of publicly traded net-lease REITs.