News
NAR: Commercial Real Estate Healing Slowly
Commercial real estate will still be moving at a snail’s pace until the end of the year, as unemployment and tight lending practices continue to dominate the national market.
Treat Towers in Walnut Creek Trade Hands
By Alex Girda, Associate Editor MetLife recently acquired Treat Towers in one of the largest office deals in the East Bay this year, trading for around $120 million. The property was bought from Chicago-based Equity Office Properties Trust, who co-owned the Treat Towers with a TIAA-CREF retirement fund. The twin 10-story office buildings offer around […]
Atlanta Investors Shaking Up Nashville Apartment Market
By Eliza Theiss, Associate Editor Two of the multifamily’s biggest moves in the Nashville market of late have come from Atlanta-based operators. First, there was the groundbreaking of the 200-unit ParkCentral on Centennial Park, which was followed by the sale of the 220-unit Velocity in the Gulch. Located at 320 11th South Ave., Velocity in […]
TMG, Rockwood Sell San Francisco Office Projects to Boston Properties for $62M
TMG Partners and Rockwood Capital have sold a series of office buildings to Boston Properties for more than $62 million, including preferred units of limited partnership interest in the buyer’s company.
Hyatt Hotel Corp. Opens First Grand Hyatt in Malaysia
Hyatt Hotel Corp. will be opening Malaysia’s first Grand Hyatt, with first-class luxuries and amenities including impressive views of the city, dining on almost every floor, and state-of-the art technology banquet halls and meeting rooms.
Grosvenor Americas Acquires 360-Unit Seattle-Area Apartment Complex
Grosvenor Americas has bought a 360-unit community in Woodinville, Wash. The company plans to spend about $5 million to upgrade the apartment interiors and other bells and whistles.
Economy Watch: Homes Prices Surge; ISM Manufacturing, Construction Spending Indexes Fall
Home prices nationwide have increased in July. The ISM Manufacturing Index has slightly dropped in August. The national construction spending has also dropped in the month of July.
Hamilton Partners to Buy 57-Acre Kraft Foods Office Campus
By Gabriel Circiog, Associate Editor Itasca-based developer Hamilton Partners has signed a contract to purchase Kraft Foods Inc.’s office campus in north Glenview and Morton Grove, ChicagoRealEstateDaily.com reports. The 57-acre suburban property, located at Gold and Waukegan roads, includes two buildings with around 500,000 square feet of office space. Hamilton Partners plans to redevelop the […]
Three Denver Metro Office Buildings Sold; NexCore Group Completes Construction of St. Anthony North Medical Pavilion
By Gabriel Circiog, Associate Editor Three southeast Denver metro trophy-office buildings were recently sold, gathering a total of $120 million, reports the Denver Business Journal. The sellers in all three individual transactions were represented by John Jugl and Mary Sullivan … Continue reading →
Economy Watch Weekly: Ben Bernanke in Kansas City
CPE’s economic analyst, Dees Stribling, gives his update for the week ending Aug. 31.