News
Economy Watch: Housing Starts Spike; Negative Equity Still Shrinking; Unemployment Claims Down
Private housing starts surged month over month. Negative equity was down again during the third quarter of 2012, a leftover from the housing crash. And the most recent unemployment claims decreased week over week.
Bucks County Medical Building Achieves LEED Certification
The U.S. Green Building Council (USGBC) has awarded Leadership in Energy and Environmental Design (LEED) certification to a 12,000-square-foot medical office building owned by Lower Bucks Pediatrics, a family-oriented pediatric medical practice in Bucks County, Pa.
‘Detroit Future City’ 50-Year Strategic Plan Unveiled
By Veronica Grecu, Associate Editor In an ambitious effort to bring back Detroit’s lost glory and after two years of community surveys that involved around 150,000 Detroiters, Mayor Dave Bing has released a comprehensive document that will serve as a strategic revitalization plan for the financially troubled city. The document dubbed Detroit Future City is […]
Nashville Hospitality Market Going Strong – New $65 M Hotel Project Planned
With the 1.2 million square foot Music City Center’s grand opening just around the corner, it’s no surprise that hotels are springing up all round Nashville, especially in the neighborhood of the state-of-the-art convention center. In fact there are no less than six hotels currently under construction in Nashville’s downtown market.
Team Gemini Advances $300M Process Complex in Grove City
By Adrian Maties, Associate Editor Team Gemini plans to invest at least $312 million in industrial processing and research facilities near the Franklin County Sanitary Landfill in Grove City, Ohio. The Orlando-based sustainable project design and development company signed 99-year leases with the Solid Waste Authority of Central Ohio on Jan. 8 for two parcels […]
Hampshire Properties Sells 450 KSF LIC Office Building for $85M
A venture composed of affiliates of Madison Marquette and certain funds within the Perella Weinberg Partners’ Asset-Based Value strategy has purchased the Center Building, an eight-story, 450,000-square-foot office building in the Long Island City neighborhood of Queens, New York, for $85 million.
Hampton Hotel Opens 11th, 136-Room, Property in Raleigh
by Adriana Pop, Associate Editor Global hospitality brand Hampton Hotels announced the opening of the Hampton Inn & Suites Raleigh/Crabtree Valley. Located at 3920 Arrow Drive, on the site of the former Crabtree Inn building, the 136-room hotel is the 11th Hampton property in Raleigh. Amenities include a business center, meeting space, a fitness center, […]
SFCC Gets Green Light to Build $10M Higher Education Center
Santa Fe Community College has received approval by the New Mexico Higher Education Department to build a $9.8 million, 31,000 square-foot higher education facility. Construction will start later this spring, according to college officials.
Hines Taps Into Tampa Bay Market with 308-Unit Apt. Complex
International real estate firm Hines has recently started construction on its first St. Petersburg project, the 308-unit Azure Residences multifamily complex. Located within the Carillon Park master-planned community, Azure will include 308 luxury garden-style residences in seven three-story buildings and one four-story building with direct entry and detached parking garages.
Economy Watch: Beige Book Reports “Strong” Residential Growth; Homebuilders Almost Optimistic; CPI Status Quo
The latest Beige Book reported overall “strong” residential growth. Homebuilder confidence remains steady in January, following eight consecutive monthly gains. And the Consumer Price Index didn’t budge in December.