News
Baltimore High-Rise Office Buildings Going Up For Auction
By Adrian Maties, Associate Editor Two office buildings in Baltimore’s central business district are expected to be auctioned off in the following months. The two properties are the Calvert Center at 225 N. Calvert Street and the office building at 1 N. Charles Street. The Calvert Center is a 17-story office building located between the […]
Two New Mixed-Use Developments Proposed for the Delaware River Waterfront
By Veronica Grecu, Associate Editor The Philadelphia City Planning Commission received a proposal calling for a four-tower residential and retail complex at the former World Trade Center site, according to PlanPhilly.com. Reportedly, one of the towers would rise 426 feet, two of them would climb 227 feet, and the smallest would rise just a bit […]
Historic State Savings Bank Building to be Replaced by Parking Garage?
By Veronica Grecu, Associate Editor Canadian entrepreneur and real estate investor Andreas Apostolopoulos has caused quite a stir among architectural preservationists after revealing tentative plans to create more parking space in Detroit’s Financial District by tearing down one of the city’s historic buildings. Located at 151 Fort Street, the State Savings Bank structure was built […]
Sheraton Downtown Nashville Sold for $47.5 M
By Eliza Theiss, Associate Editor Los Angeles-based JRK Hotel Group, a subsidiary of JRK Property Holdings, announced the purchase of a landmark Nashville hotel: the Sheraton Nashville Downtown Hotel. According to a Nashville Post report JRK paid $47.5 million for the downtown facility, $10 million more than the latest appraisal of the property. The seller […]
Appirio to Open 12,500SF Office, Cloud Computing Center in Downtown Indianapolis
Appirio, Inc., a San Francisco-based technology company, has announced plans to open a new office and cloud computing development center in downtown Indianapolis. The company will invest more than $2 million in its expansion, which includes leasing, renovating and equipping 12,500 square feet of space in the Pan American Office Tower. The center is expected to open in October, and to create up to 300 high-wage jobs over the next three years. Appirio considered several other Midwestern cities for its expansion but ultimately chose Indianapolis. “Opening an office and cloud development center in Indianapolis gives Appirio access to a large, highly educated talent base with close proximity to customers and partners.
Chambers Street Properties Acquires 1.1M SF Warehouse/Distribution Facility
Chambers Street Properties, formerly CB Richard Ellis Realty Trust, has closed on the purchase of a 1.1-million-square-foot state-of-the-art warehouse/distribution facility in the Kansas City suburb of Gardner, Kan.
Kinder Morgan Tower Hits the Market; HFF Hired to Market the 1 MSF Building
Following Hines’ recent announcement that the company is looking for a buyer for its iconic Williams Tower, another high-profile Houston office tower has hit the market.
Opus Seals Financing Deal for Nicollet Residences
By Gabriel Circiog, Associate Editor Opus Development has secured financing for a 27-story residential development in Minneapolis, the Minneapolis / St. Paul Business Journal reports. Dave Menke, senior vice president & general manager of Opus Development, confirmed the company has sealed a financing deal with an unnamed large regional bank. He said demolition work is […]
Simon Breaks Ground on Phase II of Firewheel Town Center
By Camelia Bulea, Associate Editor Shopping center giant Simon Property Group Inc., developer of the 1 million-square-foot Firewheel Town Center in Garland, started the second phase of the mixed-use project. The phase, called Parkside, will include 281 apartment units, according to the Dallas Business Journal. The multifamily project is expected to be completed in December of […]
First Potomac Sells Stake in 1200 17th St., N.W., for $43.7M
By Adrian Maties, Associate Editor First Potomac Realty Trust last week announced the sale of its 95 percent stake in 1200 17th St., N.W., in downtown Washington, D.C., for $43.7 million as part of a larger analysis of its development pipeline. First Potomac acquired the property in a joint venture with Akridge from the National […]