News
Economy Watch: Household Worth, Leading Indicators, Unemployment Claims Dip in 2Q
U.S. household net worth dropped slightly in the second quarter. The Conference Board’s Leading Economic Index for the nation also declined slightly. In addition, unemployment claims followed suit, dipping a significant amount.
The Bronx, Manhattan Welcome Marriott-Branded Hotels; Frank Reilly Joins Avison Young NYC as Principal
The first Marriott hotel operating under the Residence Inn brand is set to open in the Bronx in 2014 inside a 370,000-square-foot mixed-use complex known as Metro Center Atrium, part of the 42-acre, multi-building Hutchinson Metro Center. A Simone Development Companies venture, the Atrium will also include offices, medical spaces, restaurants and retail spaces. The seven-story extended-stay hotel will sport 125 upscale guest rooms.
ANSYS to Establish New Headquarters at Southpointe II Business Park
By Adriana Pop, Associate Editor Southpointe-based technology company ANSYS will establish a new headquarters at the Southpointe II Business Park, less than a mile away from its current 107,000 square-foot space. According to the Pittsburgh Business Times, the company has signed a 15-year lease for a new 186,000-square-foot building scheduled for completion in the fourth […]
Chestnut Hill Tower Changes Hands for $16.75 M; JV Announces Upscale Multifamily Project in Plymouth Meeting
By Veronica Grecu, Associate Editor Gebroe-Hammer Associates, a private real estate investment firm based in Livingston, NJ, has closed the sale of an 18-story residential building located at 7600 Stenton Avenue, in the upscale Chestnut Hill neighborhood. The seller, an undisclosed out-of-state private owner, and the buyer, a Gebroe-Hammer client who also remained unnamed, were […]
Work is in Progress at New Lexus of Nashville Dealership
By Eliza Theiss, Associate Editor Nashville is finally getting a long-awaited Lexus dealership. But the new 58,000-square-foot Lexus location will be far beyond a simple car dealership. The facility under construction at the 7.2-acre site at the corner of Rosa Parks Blvd. and Interstate 65 in Madison has been described as a retail and service […]
Renovated Bell Building Welcomes First Wave of Residents
By Veronica Grecu, Associate Editor Detroit’s Neighborhood Service Organization (NSO), a private non-profit human service agency looking to provide shelter to homeless people, announced that the first group of residents has moved into the former Michigan Bell Telephone Co. building as a complex revitalization process is nearing completion at the site. Back in April, NSO […]
Affordable Housing and Midtown High-Rise Sold
A private investor has purchased a 13.1-acre, low-income housing complex near Memphis International Airport
Thomas Properties, CalSTRS Buy 3 MSF Austin Portfolio for $859M
In an evenly split JV, Thomas Properties and California State Teachers’ Retirement System have purchased a group of eight office buildings in the Texas capital.
OHL Renews, Expands Space to 591 KSF in South Dallas
Ozburn-Hessey Logistics, one of the largest third-party logistics companies, has both expanded and renewed a lease in the third most populous city in Texas.