News
National Retailer Opens 220,000-Sq. Ft. Store at Atlanta’s Perimeter Mall
Von Maur Department Store opened its second Georgia store and one of the company’s largest national locations at Atlanta’s Perimeter Mall on November 10.
Decron Properties Acquires 397-Units for $70M in M-F Deal in Simi Valley
Decron Properties Corp. continues its two-year focus on the multi-family market with its latest acquisition – Creekside Apartments, a 397-unit community in Simi Valley, Calif.
Blanca CRE Tapped to Lease Office Component of Shops at Sunset Place
Simon Property Group has selected Miami-based Blanca Commercial Real Estate as the exclusive agent for 100,000 square feet of space that will be re-purposed for office, medical and related uses at the Shops at Sunset Place.
HFF Closes Sale of 177 KSF Office Building in Houston to International Buyer
Holliday Fenoglio Fowler represented an institutional owner in the sale of 777 Post Oak Blvd., a 176,799-square-foot office building in Houston’s Galleria/West Loop submarket.
Velocis Buys Two Austin Shopping Centers in $60M Deal
Dallas-based Velocis, a commercial real estate investment fund, recently purchased two Austin shopping centers totaling over 350,000 square feet of retail space. With the acquisition of West Woods Shopping Center and Springdale Shopping Center, Velocis now has circa $160 million of assets under management.
Economy Watch: CPI Increases Slightly in October; Underwater Mortgages, Residential Mortgage Delinquencies Dip
The U.S. Consumer Price Index edged up to 0.1 percent in October. The number of underwater mortgages dropped in the third quarter, as well as mortgage delinquencies.
Hines to Begin Work on 7,000-Acre Research Triangle Park Master Planned Community
The Research Triangle Foundation has formally unveiled its new master plan for the future growth of the 7,000-acre Research Triangle Park (RTP). It is the first update to the master plan since the park was created in 1959. The foundation has also announced it has selected the Houston real estate company Hines to work on the initial phase of the project. The Herald Sun reports that RTP leaders have envisioned three development clusters in three main areas of the park. Called “Triangle Commons,” the first area to be developed will bring a 7 million gross square feet mixed-use center to the Durham County end of RTP.
Ningxia International Conference Center–Bringing China and Islam Together in More Ways than One
The China-Arab States Economic and Trade Forum is set to move into a new home, as the Ningxia International Conference Center is well into its development process.
Richman Group Plans $45M Apt. Community on Industrial Park Site
The Richman Group of Florida unveiled plans for a $45 million luxury apartment community named Gateway Centre. To be located on the 40-acre site of a former industrial park, the four-story complex will rise on Gandy Boulevard.
Historic Motel Converted to $5.7M Low-Cost Housing; Downtown Sears Building on the Market
Renovation work on the historic Luna Lodge is almost complete, and residents will be able to move in after Thanksgiving. Built in the 1950s, the Route 66 motel has been converted to low-cost housing, including 14 apartments and a new 16-unit wing added to the north part of the property, according to the New Mexico Business Weekly.