News
Two Major Retail Projects in Works for Charlotte Metro
It seems this was the week to announce significant retail development for greater Charlotte, with not one, but two important players of the retail industry expressing their intent to build in the Queen City.
JV Nabs $430M Times Square Gateway Development Site
Construction of the first mixed-use development in Times Square in 25 years can move ahead now that a joint venture of Maefield Development, Infinity Urban Century, The Witkoff Group and New Valley has completed the $430 million acquisition of the site.
LEI, Partners Launch Venture with Purchase of 191 KSF Office Tower in Thriving Denver Locale
Lowe Enterprises, The Guardian Life Insurance Company of America and a subsidiary of Allstate Insurance Co. introduced their new venture with the acquisition of Alamo Plaza.
Economy Watch: Unemployment Claims Bounce Back Upward; CEOs, JP Morgan Fiscal-Cliff Wary
Unemployment claims spiked upward most recently. CEOs are worried about the fiscal cliff since few politicians are paying attention to it due to the upcoming elections. JP Morgan also said in a research note to be careful of the fiscal cliff, which is predicted to cut 1 percent off GDP growth in 2013.
ULI Special Report: JLL Bullish on Capital Availability
Equity capital is flowing into core, well-located Class A real estate assets, hindered to a large extent by transaction availability, according to Jones Lang LaSalle Capital Markets group findings being announced today during the Urban Land Institute Fall Meeting.
PRG Real Estate Acquires 216-unit Apartment Community in Durham
PRG Real Estate has announced the acquisition of Bainbridge in the Park Apartments, a 216-unit garden-style apartment community located on a 25-acre wooded setting in Durham. The community was built in 1985 and is situated within 2.5 miles from the world-renowned Research Triangle Park. Amenities include a 24/7 newly renovated fitness center and clubhouse, a resort-style pool, bark park, private patios, balconies, fireplaces and washer/dryer connections. PRG Real Estate is planning upgrades for its new property, including the complete renovation of kitchens and baths. Landscaping and other curb appeal items will also be improved.
Taubman, Benderson Break Ground on $315M Shopping Center in Sarasota
The Mall at University Town Center is one step closer to fruition as developers Taubman Centers Inc. and Benderson Development Company LLC broke ground on the $315 million shopping center during a ceremony held on Monday.
ULI Special Report: The New Seniors—Not So Senior Anymore
The focus on the Baby Boomer generation has intensified in the 10 months since the first one turned 65. But that magic number might not be the right one to follow anymore, and opportunities that are much larger will require some new thinking, according to a new report released during the Urban Land Institute Fall Meeting.
CareMore Medical to Open Fourth Medical Facility in Tucson
CareMore Medical Enterprises announced plans to open its fourth medical facility in Tucson near the Carondelet Heart & Vascular Institute. The new facility will occupy a vacant retail space at 4881 N. Stone Avenue, a former Cost Plus retail center, according to Inside Tucson Business.
Archstone Buys 167 KSF M-F Property in L.A. Area
Decron Properties sold the 167,000-square-foot, mixed-use apartment complex to Archstone for approximately $44 million.