News
IBC Holdings LLC Acquires 1.2 Million-Sq.-Ft. Building in Westminster
IBC Holdings LLC has acquired a 1.2 million-square-foot building in Westminster, Colo. Located at the intersection of 120th Street and I-25 on 105 acres, the purchase includes 200,000 square feet of high bay bulk distribution space, 700,000 square feet of light industrial/flex space and 300,000 square feet of office space.
2012 Best Practices Index
Our 2012 survey of Best Practice dives into the changing nature of success in real estate. It is interesting to note that capital is flowing into secondary markets with the attention to detail usually reserve for major metropolitan areas.
DeBartolo, Liberty Group JV Buys Jacksonville’s Holiday Inn Express
DeBartolo Development L.L.C., in a joint venture with Liberty Group as operating partner, has acquired the Holiday Inn Express and Suites Jacksonville-Blount Island.
Aris Integration Picks Tucson for Corporate HQ and Plant
Aris Integration has announced its intention to move its corporate headquarters to Tucson. The Scottsdale-based company plans to build a facility that will manufacture a new type of modular energy-efficient building panel, and hire about 600 people by 2017. Positions at the office will include ones in executive management, sales & marketing, quality control, HR, and manufacturing.
Pergo Distribution Center in Garner Sells for $8M
Exeter Property Group has acquired the Pergo distribution center in the Greenfield business park in Garner for $8 million. According to the Triangle Business Journal, the property was sold by four family trust groups working through First American Exchange Co., an intermediary for 1031 tax-deferred real estate exchanges. CBRE Raleigh’s J.D. “Butch” Miller, managing director and Ann-Stewart Patterson, senior associate, represented First American in the transaction. The distribution center was built in 2002 and offers 175,230 square feet of warehouse space coupled with 4,770 square-feet of office space on a nearly 11-acre lot. It is fully leased to Pergo, a widely known laminate flooring manufacturer. In May 2012, CBRE renewed the Pergo lease on behalf of the landlord.
Carlton Arranges $324M Recapitalization for Four Seasons Hotel Milan
Carlton Group has orchestrated a $324 million financing package deal for the Four Seasons Hotel Milan in Italy for the recapitalization of the 118-room luxury hotel and a discounted loan payoff.
HFF Arranges JV Equity for M-F Development in Austin
HFF has arranged a joint venture between the Hanover Co. and an unnamed private investor to build a five-story multi-housing community on 3.44 acres in the city’s South Lamar neighborhood.
Renaissance Centro Breaks Ground on 360-Unit Apartment Community in Reston, Va.
Renaissance Centro has begun construction on Parc Reston, a planned 360-unit multi-family property in Reston, Va., which also features two penthouse levels with views to Tysons and the Blue Ridge Mountains.
Jenks City Council Greenlights 260-Unit M-F Complex
The Jenks City Council recently paved the way for a proposed 260-unit multi-family project on South Elm Street by approving a zoning change from commercial to residential use,
Economy Watch: Greece, Sandy to Cost Many Billions; Home Prices Increase; Chicago Fed: Economic Activity Down in October
Greece and Hurricane Sandy, while both different dilemmas, will cost billions to their respective countries. U.S. home prices have increased month over month. And the Chicago Fed reported that economic activity slowed in the month of October.