News
Ground Broken on Apartments in Fair Lakes
Balfour Beatty Construction, a leader in the U.S. commercial construction industry and part of the London-based Balfour Beatty plc, has started work on a new residential project in Fairfax for The Bainbridge Cos. and Chesapeake Realty Partners.
Division 13 Will Provide Local Transportation Authority With State-of-the-Art Maintenance Equipment
The Los Angeles County Metropolitan Transportation Authority is now underway with the development of the new Metro Division 13 Bus Maintenance and Operations Facility. The state-of-the-art construction will be located next to Union Station and will be built over the following two years. While the facility will cost around $72 million by the end of the development process, the MTA received a crucial federal grant from the United States Department of Transportation worth $52.5 million. When finished, Division 13 will have 442,000 square feet of utility and office space.
University Shoppes Demolition to Make Way for Student Housing Complex
The 25-year-old University Shoppes retail center across from University of Central Florida’s main entrance is set for demolition, as American Campus Communities will soon be replacing it with a new student housing complex.
Eli Lilly Plans $140M Plant Expansion in Indianapolis
Eli Lilly and Co. has announced plans for a $140 million expansion of the company’s Indianapolis insulin manufacturing operations. The company’s initiative represents one of the largest economic development investments in both the city and state in 2012. Construction on the 80,000-square-foot expansion will begin immediately with completion expected in March 2014. More than 100 permanent jobs for highly skilled technicians, scientists, and engineers will be created once the facility becomes operational in 2015.
Investors Purchase Former Time Equities Office Property
City Center Square, one of the largest office buildings in downtown Kansas City, has been acquired by an investment group led by three principals,
Carter Lands Second Project at University of Louisiana at Lafayette
The investment, development and advisory firm Carter announced it has been selected for a second project at the University of Louisiana at Lafayette (UL Lafayette).
Two Class A Industrial Buildings Sold in Baltimore
Hillwood Investment Properties, a Perot company, has announced the purchase of two Class A industrial facilities in Baltimore. Hillwood made the acquisition in a joint venture with Brookfield Asset Management.One of the properties is located at 451 Fletchwood Road, in Elkton, while the other is at 238 Belvidere Road in Perryville. Together the two properties total 1.8 million square feet. They have been built, managed and maintained to meet the highest institutional standards.
Admiral Fund Joins Wood Partners in Buckhead Multifamily Deal
A newly formed joint venture between San Antonio-based Admiral Capital Real Estate and Wood Partners of Atlanta recently acquired 209 apartments within The Brookhaven high-rise in Buckhead
IPA Arranges $67M Student Housing Sale in Tucson
Institutional Property Advisors, a multi-family brokerage division of Marcus & Millichap, brokered the sale of The District on 5th Avenue, a new 208-unit student housing community located about one-half mile from the University of Arizona.
Joshua Green Corp. Invests $200M in Urban Renaissance Group
With an investment valued at $200 million, the Joshua Green Corp. has taken its relationship with real estate operating company Urban Renaissance Group L.L.C. to a new level.