News
400 Main LLC Unveils Plans for New Hotel, Office Buildings in Royal Oak
A group of real estate developers known as 400 Main LLC is seeking approval for a multi-building redevelopment project that would breathe new life into a vacant property in Royal Oak that used to house a Fresard car dealership.
Pittsburgh Glass Center to Develop Affordable In-Residence Housing in Garfield
The Pittsburgh Glass Center has purchased a former coffeehouse in Pittsburgh’s Garfield neighborhood, with plans to repurpose the facility as student and artist-in-residence housing. Construction will begin as soon as funding is secured. According to the Pittsburgh Business Times, Bloomfield-Garfield Corp. and Friendship Development Association facilitated the acquisition and will also support the property’s redevelopment. Located at 5447 Penn Ave., the former Kim’s Coffee Shop will provide affordable housing for the center’s visiting artists, students and guests of other arts and community organizations. Plans may also include a retail portion for glass art and supplies.
Third Expansion for Biomed Incubator Cumberland Emerging Technologies
Cumberland Emerging Technologies, Inc. (CET), a company specialized in bringing early-stage biomedical technologies from their Mid-South research phase to the marketplace has announced completing its newest expansion.
Chinatrust Bank Moves HQ to 801 Tower As It Plans Expansion
Taiwan-based Chinatrust Bank is set to move its headquarters after an announcement regarding a new leasing deal was made by company officials recently. The financial entity will move its operations from its current Torrance HQ to the new location, in 801 Tower, in the financial neighborhood set up just north of the Staples Center. Continue reading →
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Commercial Property Executive and Multi-Housing News are pleased to invite you to participate in our ‘2013’ survey of the Greenest Real Estate Companies.
Hines Opens Landmark Project in Milan
International real estate firm Hines has announced the opening of a new 161,400-square-foot public space at its 71-acre master-planned Porta Nuova project in Milan, Italy.
KBS Strategic Expands Houston Portfolio
If KBS Strategic Opportunity REIT’s actions within the last week indicate anything, it’s that the real estate investment concern is keen on Houston.
KDC Moves Ahead on $1.5B M-U Project in Metro Dallas
Rezoning has been approved for Dallas-based KDC’s $1.5 billion, master-planned, mixed-use project in Richardson, Texas, clearing the way for the company to acquire the needed 186 acres of land and move forward with the development.
CBRE Global Investors Closes U.S. Value-Added Fund
CBRE Global Investors has closed its Strategic Partners U.S. Value 6 L.P. fund with equity commitments of almost $1.1 billion from 22 institutional investors, surpassing its $750 million target.
Carey Watermark Pays $85M for Courtyard in Hotel Circle
The Courtyard San Diego Mission Valley/Hotel Circle traded recently when Jones Lang LaSalle Hotels arranged the acquisition of the property for a private investment group. The buyer is Carey Watermark Investors, an Illinois-based entity that paid a reported $85 million for the San Diego hospitality property. The deal was handled by Jones Lang La Salle Hotels Managing Director John Strauss along with Senior Vice Presidents James Stockdale and Samantha Fisher. The buyer has opted to keep Evolution Hospitality as the property manager.