News
Excalibur Unveils New Food Court at Castle Walk
By Alex Girda, Associate Editor
From celebrity chefs’ bistros to casual eateries and fast-food restaurants, the Las Vegas Strip offers as wide a variety of dining venues as anywhere in the United States. In a bid to capture the largest possible share of the area’s dining dollars, the Excalibur is expanding its food options.
New State Office Building Gets $8M in Public Bond Financing
The Milwaukee Redevelopment Authority has approved $8 million in public bonds to help finance the construction of a 64,000-square-foot state office building in Milwaukee. Klein Development Inc. of Wauwatosa, the project’s developer, will use the proceeds to obtain loans for the project through JPMorgan Chase Bank NA and BMO Harris Bank, the Milwaukee Business Journal reported . According to the Business Journal, the two-story building (pictured) will be built on a two-acre city-owned parcel located at the corner of Wisconsin Avenue and North 27th Street. In October, the Milwaukee Common Council agreed to sell the land to the developer for $1. Excavation is under way. After construction is complete next summer, the Wisconsin Department of Children and Families will lease the building for 15 years.
DSW Inc. Buys its HQ in Columbus for $72M
In a $72 million deal, the footwear and accessories retailer DSW Inc. has acquired its corporate headquarters in Columbus.
Retail Properties of America Sells Aon Hewitt Property in Ill. for $148M
Retail Properties of America has sold the Aon Hewitt property, an 818,686-square-foot office property in Lincolnshire, Ill., for $148 million to an unidentified buyer.
Australian Lend Lease to Redevelop $2B Project in the ‘Elephant & Castle’ Area of London
Sydney, Australia-based Lend Lease Group has been granted planning permission from the Southwark Council for a redevelopment project that will feature 284 new homes in the Elephant & Castle area of London.
Hyatt to Open First Hyatt Regency-Branded Hotel in Bangkok
Hyatt Hotels Corporation has announced plans to open its first Hyatt Regency-branded hotel in Bangkok, to be completed in 2017.
Avison Young Makes Entrée into Southern California’s Orange County Market
Toronto’s Avison Young continues the rapid expansion of its footprint in the United States with yet another new office opening.
Boston-Based Sibley Acquires 2 MSF Historic Rochester M-U Property
Sibley Redevelopment L.P., an affiliate of WinnDevelopment, the real estate development arm of WinnCompanies, acquired the Sibley Building, located in the central business district of downtown Rochester, N.Y.
MetLife JV Buys Iconic Seattle Office Tower
A joint venture comprising MetLife and an institutional real estate investor advised by Clarion Partners has purchased 1201 Third Ave., an Art Deco–inspired Class A building that is Seattle’s second-tallest office tower.
Economy Watch: Existing Home Sales, Homebuilder Confidence, Stock Market Up
Existing U.S. home sales were up by 2.9 percent from the previous month. Homebuilder confidence has increased in November. Wall Street was feeling chipper on Monday before Thanksgiving with the Dow, the S&P and Nasdaq all gaining percentage points.