News
Clarion Buys 408 KSF Office Portfolio in Boston’s Blossoming Seaport District for $129M
It’s been a busy couple of quarters for office transactions in Boston’s Seaport District and the change in ownership of the 408,000-square-foot Fort Point portfolio is among the latest.
MGM Resorts Sells 427 Condo Units at CityCenter Las Vegas for $119M
The bulk condo purchase of 427 residences at Veer Towers in Las Vegas’ CityCenter project shows Vegas’ recovery – though not quite yet.
Economy Watch: Personal Income, Savings Up; Holiday Spending Slightly Up; Fiscal Cliff Worries Investors
Personal income increased month over month, as did personal saving in November. Holiday spending was only slightly up compared to last year. And investors are weary due to the fiscal cliff still hanging up in the air.
Hyatt Hill Country Undergoes $35M Renovation
Woodbine Development Corp. recently unveiled interesting details regarding the $35 million renovation and expansion of its Hyatt Regency Hill Country Resort and Spa in San Antonio. The renovation project will be completed in two phases.
Greater New Orleans Retail Market Heats Up
One of the most important news to come out of the Big Easy this week was, as many real estate related news are in New Orleans, Katrina-related. More than seven years after the storm, the damage it caused is still quite visible in many areas.
Vulcan Real Estate Debates Multifamily Developments as Project Pipeline Grows Longer
The project is somewhat unusual for the Paul Allen-controlled entity as the company has focused its attention on South Lake Union, its only non-SLU development being the Martin apartments, an ongoing residential project next to the Cinerama Theater. The Seattle Housing Authority is currently considering Vulcan, along with a number of other developers, for the redevelopment of the Yesler Terrace public housing project in First Hill, while the company is also set to develop a City Hall complex for the city of Bothell. However, that last project is currently on standby on the municipality’s part.
Kent State Board of Trustees Approves $150M in Campus Construction Projects
Kent State University’s Board of Trustees hired the Ruhlin Company to manage the $150 million, four-year construction and renovation project known as the “Foundations of Excellence, Building the Future.” The Sharon Center, Ohio-based company was selected after a competitive bidding and interview process. During the next four years, Ruhlin will manage these four primary projects:
Two Downtown Cincinnati Office Buildings Auctioned Off for $3.5M
Two downtown Cincinnati Class A office properties were sold at auction on December 11 according to the Hamilton County Auditor’s website. The Cincinnati Enquirer reports that Neyer Properties was the buyer.
The two properties are part of the three-building Centennial Plaza office complex, on Central Avenue. Dan Neyer, president of Neyer Properties, told the Cincinnati Enquirer he acquired the two properties via the online auction house Auction.com. He paid $3.5 million for them. The seller was an affiliate of New Boston Citimark, New Boston Centennial LLC. In 1999, New Boston Centennial paid $13 million for the properties.
Forest City Hawaii to Develop 690 Pohukaina Mixed-Use Project in Honolulu
Forest City Hawaii has been selected by the Hawaii Community Development Authority (HCDA) to develop the $500 million “690 Pohukaina” mixed –use project in Honolulu’s Kakaako neighborhood.
According to the Pacific Business News, the developer has proposed the construction of 800 workforce rental housing units on the state owned parcel located at 690 Pohukaina Street. Pending further approvals, the public-private project could include Hawaii’s tallest building at 650 feet. Plans also call for a commercial and civic building, a parking structure, a business incubator and offices for the state’s library system and Friends of the Library. Continue reading →
One Hughes Landing Gets First Major Tenant, Construction Financing
One Hughes Landing, the first office building to be constructed at the Hughes Landing community that The Howard Hughes Corporation is planning for The Woodlands, now has a new major tenant, as well as construction financing. Layne Christensen Company has signed a 51,152-square-foot lease for the top two floors of the yet-to-be-completed One Hughes Landing.