News
Tech Tenants Eyed for Rebranded 500 KSF Provo Office Park
By Alex Girda, Associate Editor Utah-based developer Warren King has acquired a 500,000-square-foot office park in Provo and is rebranding the campus as East Bay Technology Park in a bid to reel in high-tech tenants. Laurie Adair, Tab Cornelison and Scott Wilmarth of CBRE Inc. will handle leasing, and the firm’s asset services division is […]
Simon/Tanger JV Plans 350 KSF Mall in Delaware County
Indianapolis-based Simon Property Group (NYSE:SPG), the nation’s largest shopping mall operator and the largest real estate company in the world, has recently formed a joint venture with Tanger Factory Outlet Centers Inc. (NYSE:SKT) of Greensboro, North Carolina to build two upscale outlet centers of equal size in Columbus, Ohio and Charlotte, North Carolina. Both parties would hold a 50% stake in the two centers.
KBS Buys 400 KSF Houston Office Tower for $69M
The thriving economy in Houston is attracting real estate investors like bees to honey and KBS Strategic Opportunity REIT Inc. is among the latest to claim a piece of the office market.
New Federal Courthouse Opens in Austin; $304M Apple Campus Underway
Austin’s federal courthouse has found a new home in an eight-story, 252,420-square-foot building of stone and glass. Located in the downtown area, the $123 million project opened three years and three months since breaking ground in 2009. Sitting on the site of the old Shell building, the new facility features eight courtrooms and chambers for 10 judges, compared to the four courtrooms and four chambers at the old Eighth Street location.
Via Verde Affordable Housing in the Bronx Wins ULI Award Workforce Housing Model of Excellence
An eco-friendly housing development in the Bronx is one of the three projects nationwide to receive the 2012 Jack Kemp Workforce Housing Model of Excellence Award from the Urban Land Institute (ULI).
Starwood Hotels & Resorts Opens First Le Méridien Hotel in Mexico City
Starwood Hotels & Resorts Worldwide, Trinity Investments and Terra Investments have announced the opening of the first Le Méridien Hotel in Mexico City.
Cole Acquires Retail Center in Brooklyn, NY, for $124M
In one of its largest multi-tenant retail transactions of the year, Cole Real Estate Investments has acquired Canarsie Plaza, a 278,000-square-foot shopping center in the Canarsie section of Brooklyn.
RLJ Lodging Agrees to Pay $71.6M for New Hilton in Miami Beach
The yet-to-be-completed 231-room Hilton Cabana Miami Beach will soon have new owners, as RLJ Lodging Trust has recently announced that it has entered into a purchase and sale agreement to acquire the property upon completion for $71.6 million.
Crescent Develops $33M Luxury Apartment Community in Charlotte
Crescent Resources continues its expansion in Charlotte’s multifamily market. For its newest project the Charlotte-based developer has partnered up with Global Growth Trust, Inc., a non-traded REIT focused on providing capital appreciation for investors.
Economy Watch: November Employment Gains Flat; Household Net Worth Peaks
Employment growth has averaged about the same monthly job gain as in 2011. U.S household net worth has increased during the second quarter compared to the same quarter last year. And Wall Street was up on Thursday.