News
60-Unit Supportive Housing Project Wins SEED Award
The New Orleans Redevelopment Authority (NORA) announced the Rosa F. Keller Building, launched earlier this year, has been awarded a 2013 Social Economic Environmental Design Award for Excellence in Public Interest Design.
South Lake Union Set for Rezoning Overhaul
By Alex Girda, Associate Editor South Lake Union is growing at a frantic pace. Some developers are pitching office high-rises in hopes of scoring one of the big names that are constantly circling the neighborhood’s available office space, while others are proposing the next young-professional-oriented multifamily building. However, growth must be sustainable, and there are […]
Leader Building Still Seeking New Owner
By Adrian Maties, Associate Editor
The Leader Building, a Class B office building in downtown Cleveland, hit the auction block on Nov. 13. Despite fetching a high bid of nearly $7.7 million during an online auction, the property won’t be sold.
Constructed […]
$42M L’Oreal Expansion to Add More Than 200 Jobs in Northern Kentucky
L’Oreal USA, a wholly owned subsidiary of L’Oreal SA, the world’s leading beauty company, will expand its 560,000-square-foot facility in Florence, Ky.
First Residents Moving into Kamehameha Schools’ Kakaako Development
Kamehameha Schools’ Six Eighty apartment project in Honolulu recently welcomed its first residents. The newly renovated building is located at 680 Ala Moana Blvd. in Kakaako and offers 54 loft-style units affordably priced for median-income workers. On the ground floor, the project also includes 8,600 square feet of commercial space. Designed by Architects Hawaii, Six Eighty offers 42 studios and 12 one-bedroom units. The apartments are equipped with stainless steel appliances and feature designer touches like vinyl whitewashed floors, open-concept floor plans and 12-foot ceilings.
W.P. Carey Affiliate Buys KBR Tower for $174.6M
The 1.04 million-square-foot KBR Tower in Houston’s Central Business District, along with its adjacent 1,500-space garage, have traded hands for $174.6 million; the buyer is Corporate Property Associates 17-Global, a public non-traded REIT affiliate of W. P. Carey Inc.
Shorenstein Properties Acquires Minneapolis City Center for $202.5M
Shorenstein Properties has closed on the acquisition of Minneapolis City Center, a 50-story mixed-use complex located in the heart of downtown Minneapolis. Shorenstein made the purchase on behalf of Shorenstein Realty Investors Ten L.P., a commingled fund formed in 2010 and with $1.2 billion of committed capital.
$1B Residential Development Breaks Ground in Denton County
Hillwood Communities has broken ground on a 1,000-acre master-planned development located just north of Alliance Texas. Dubbed Harvest, the $1 billion mixed-use community is planned to include approximately 3,000 single-family homes with prices ranging from $200,000 to about $400,000.
Laurel Apartment Complex Sells for $28M
The Westgate of Laurel, a renovated apartment complex in the heart of the Baltimore-Washington corridor, was recently sold to Westgate DNB Associates, a subsidiary of Geller Associates Inc. of Roseland, N.J.
Sun Products Inks Record 1 MSF Lease at Freeport West Industrial Park
In Salt Lake City’s largest-ever industrial lease, Sun Products Corp. is taking 1 million square feet at Freeport West Landmark Industrial Park. The consumer products manufacturer will move from six different buildings into two, enabling it to centralize and streamline operations. respond to customers more efficiently and reduce its carbon footprint.