News
$22M Mixed-Use Development to Break Ground in Downtown Yonkers; Valuation Expert Steven Kurtz Joins Avison Young as Principal
Development company Rising Development recently got the green light from the Yonkers Industrial Development Agency (YIDA) to go on with a $22 million project that would transform five properties in the downtown area into residential, retail and restaurant space. According to LoHud.com, YIDA has granted more than $500,000 in tax exemptions on mortgage and building materials used for the project, which aims to revitalize the city’s downtown and waterfront and attract further developers in the area.
Corydon Acquires Historic Building for Occupancy; 16 Downtown Apartments for Sale
The Corydon Group has acquired a 17,000-square-foot historic building in Indianapolis for $1.4 million. The public affairs firm purchased the vacant property at 125 W. Market Street from local businessman John Thompson. According to the Indianapolis Business Journal, the Corydon Group plans to renovate the building by early November and occupy the 4,200-square-foot top floor of the three-story building. The first and second levels will be leased, Corydon Group founder Chris Gibson told the newspaper. Financing of the purchase and the improvements is handled by Key Bank, and the renovations will be performed by Blaze Construction. An archivist has also been hired to investigate the property’s history, which could date back to the 1880s.
Dominium Proposes $100M Mixed-Use Conversion of Landmark Arcade Building
Dominium Development is offering $6 million to the city’s Land Clearance For Redevelopment Authority (LCRA) for Arcade Building, one of the biggest vacant structures in downtown St. Louis that has not been occupied for decades.
Commerce Building to Undergo $22M Conversion into Downtown Mixed-Use Property
By Eliza Theiss, Associate Editor The Commerce Building in Downtown Baton Rouge, which has sat vacant for the past three years after temporary state offices moved out, faces a $22 million overhaul. The redevelopment will turn the Commerce Building into a mixed-use project that will bring the area to life even after office hours, by introducing permanent residents and businesses […]
Storage Deluxe Closes Half-Billion-Dollar Sale of 1.6 MSF Portfolio to CubeSmart
Storage Deluxe sold a portfolio in the Northeast to CubeSmart for a heavy amount, a transaction handled by HFF on the seller’s behalf.
HFF Arranges $27M in Refinancing for Round Rock Complex
By Camelia Bulea, Associate Editor
Holliday Fenoglio Fowler LP has secured $27 million in refinancing for City North at Sunrise Ranch, a Class A community in Round Rock. The 384-unit complex, which is 93 percent leased, is comprised of 19 buildings […]
CBRE Arranges $112.8M Financing of Three-Property Texas M-F Portfolio
CBRE Group helped a commercial real estate firm get a good chunk of change for the refinancing of three Texas apartment properties.
Industrial Developments Abound in Metro Charlotte; $7M Retail Project Breaks Ground
By Eliza Theiss, Associate Editor Metropolitan Charlotte’s industrial market has been on the rise for some time and shows no sign of slowing down. Recently, Lincoln County’s newest business park got its first resident, reports the Charlotte Business Journal. Hydac Technology Corp., a German manufacturer of hydraulic valves, filters and various other elements, broke ground […]
DDR Corp Buys Tucson Shopping Center for $125.4M
DDR Corp. closed on a regional shopping center in Tucson, Ariz. Wednesday, adding to its collection of shopping centers bought throughout the first part of this year.
Economy Watch: New Home Sales, House Prices, Jobless Claims Up
Everything is on the upswing: new homes sales, as well as the amount of homes on the market that are for sale; U.S. house prices went up, especially in warmer climates, such as Florida; initial unemployment claims also rose.