News
Upcoming Sale of Summerlin Office Properties Offers Promise for Market
By Alex Girda, Associate Editor A big office deal or a series of smaller ones seems likely to take place in the Las Vegas area in the near future. VegasINC magazine recently reported that General Growth Properties is looking to offload a number of the office buildings it holds in Summerlin. The 32 office buildings […]
L’Oréal Enters Dallas Market with Massive Distribution Center
By Camelia Bulea, Associate Editor The world’s largest cosmetics, beauty and hair-care company, The L’Oréal Group, is reportedly planning to build a 513,000-square-foot regional distribution hub in southern Dallas County. Such a project would add a lot of value to south Dallas, where development has been a top priority for Mayor Mike Rawlings, the creator […]
Carter Breaks Ground on $50M Residential/Retail Development Downtown
Atlanta-based Carter, one of the largest investment, development and advisory firms in the United States, recently started construction on phase two of a mixed-use project in downtown Columbus.
Insight Buys Site Near Huntington Metro with Plans for Work $52M Apartment Project
By Adrian Maties, Associate Editor Insight Property Group L.L.C., a multifamily developer founded by longtime multifamily industry veterans Richard Hausler and Michael Blum in late 2009, on Sept. 11 announced the acquisition of 3.4 acres of land in the Alexandria section of Fairfax County, Va. It plans to use the site for a new metro-oriented luxury […]
Valencia College Puts Historic Chicone Building on the Market
After purchasing a Metrowest property that will assist Valencia College in centralizing and economizing its key administrative functions, Valencia Foundation is offering its historic Chicone Building for sale or competitive lease.
BRA Green-lights Multi-Million Construction Projects
Almost two months after filing a notice of project change for the long-stalled Millennium Tower and Burnham Building project, the development team has won approval from the BRA. With a $615 million private investment and encompassing 1.2 million square feet, the revised mixed-use project will be located at the partially vacant site of the former Filene’s Department Store on a parcel delimited by Washington, Franklin, Hawley and Summer Streets.
Cassidy Turley Adds Four New Georgia Properties to its Property Management Portfolio
Cassidy Turley continues to expand its property management division with the recent addition of four Georgia properties.
Wells Fargo Inks Decade-Long Renewal Deal With MPG Office Trust
Wells Fargo recently completed a deal to keep it at its current Los Angeles home. The banking giant has finalized a lease renewal with landlord MPG Office Trust, Inc. for space at the Bunker Hill-located Wells Fargo tower. The financial entity will stay on the building’s tenant roster for another 10 years, according to a press statement MPG recently released.
UMBC Opens First Phase of $165M Performing Arts and Humanities Building
The University of Maryland, Baltimore County (UMBC) held a day-long celebration on Wednesday, September 19, to mark the grand opening of the first phase of its new $165 million Performing Arts and Humanities Building as well as the ground breaking for the second phase. Governor Martin O’Malley was present at the ceremony.
Mainstreet Property to Develop $15.7M Seniors Health Care Facility in Indianapolis
Mainstreet Property Group LLC has gained approval from the Indianapolis Metropolitan Development Commission to build a $15.7 million senior health care center on the city’s east side. According to the Indianapolis Business Journal, a portion of the project could be financed by $7.4 million in city-issued bonds. Plans call for 100 beds for skilled care, short-term rehabilitation and assisted-living patients. The facility will be developed on a nine-acre parcel located at 16th Street and Arlington Avenue. Earlier this year, the Cicero-based developer purchased the property from the city for $912,500. Zeke Turner, Mainstreet’s CEO, told the newspaper that the new center is expected to employ up to 150 people.