News
Schlitz Park to Wrap $30M Redevelopment By Creating 150 KSF of Office Space
Construction on the third and last phase of a $30 million renovation project will begin by the end of this year at Schlitz Park, the 46-acre riverfront office complex near Downtown Milwaukee. Preliminary designs for remodeling the property’s long-vacant Executive and Stockhouse buildings were unveiled by Gary Grunau, president of Grucon Group L.L.C., which is redeveloping Schlitz Park. Located on the park’s western end, the buildings will offer a combined 150,000 square feet of office and parking for 600 vehicles when construction is complete in fall 2013.
Alternatively Built M-F Development Uses Upcycling as a Hook
A new trend of alternative building for multi-family developments is on the rise. This trend uses upcycling, or the conversion of waste products into new uses.
Complex Redesign Project Announced for NYC’s Historic Pier 17
Howard Hughes Corporation (HHC)—a company that owns, manages and develops commercial, residential and mixed-use real estate throughout the U.S.—and the New York City Economic Development Corporation (NYCEDC) have reached an agreement for a multi-year revitalization project of a 195,000-square-foot building at South Street Seaport, one of Manhattan’s most popular areas. South Street Seaport dates back to the 1600’s and was recently named the 26th most-visited tourist attraction in the world by Travel & Leisure Magazine.
Shea Homes to deliver 250 homes at Johnson Ranch
By Camelia Bulea, Associate Editor In July, builders nationwide sold new homes at an annualized rate of 372,000, a 3.6 percent gain compared to the 360,000 sold in June and a year-over-year increase of 25.3 percent, according to the U.S. Census Bureau. The report, quoted byCNNMoney, states that existing home sales rose 2.6 percent in July […]
JLL Completes 163,734-SF Santa Ana Office Lease with Corinthian Colleges
Jones Lang LaSalle represented Corinthian Colleges in its lease renewal of office space in Griffin Towers, Santa Ana, Calif.
Stonetown Investors Buys 4 Mobile Home Parks; Makeover in Store for Penn Square Mall
By Gabriel Circiog, Associate Editor Stonetown Investors L.L.C. has acquired four mobile home parks in the Oklahoma City area, NewsOK.com reports. The Denver-based company paid $6.8 million for 489 lots and 104 park-owned homes. The portfolio includes: El Reno Estates, located at 1501 S. Rock Island, El Reno; 133 lots, 95 percent occupied; Skyview Estates, 1644 […]
Beacon Capital Picks Up Boston’s 177 Huntington Ave. for $59M
Beacon Capital Partners has bought 177 Huntington Ave. in Boston’s Back Bay submarket. The 1972 tower used to house The First Church of Christ, Scientist, and the Trustees of Church administration department.
$58M Financing in Place for Boca Raton Mixed-Use Project
According to an official announcement, HC Real Estate Capital has arranged $58 million in financing for Boca Raton’s Royal Palm Place and Plaza. Financing was arranged through a Life Company relationship, and the seven-year loan is interest-only at a competitive fixed interest rate. The project will replace a maturing facility on the property.
Economy Watch: Personal Income, Spending, Car Buying Rise; Weekly Jobs Report Flat
Personal incomes have increased, and so has spending. People are also buying cars. The weekly jobs report remains unchanged.
Austin Student Housing Market on the Upswing
By Camelia Bulea, Associate Editor
The local student housing market has shown obvious signs of improvement in the past year, with several private and public projects being delivered in the last few weeks and more scheduled to come. The Austin Business […]