News
Port of Los Angeles Floats RFQ for 30-Acre Site
It’s the leading trade gateway in the United States, and it’s being transformed to attract more than just cargo. The Port of Los Angeles’ $1.2 billion, three-year improvement effort is now primed to go to the next level.
Economy Watch: Growth Trudges Along at 1.5%; Apartment Vacancies Drop Nationwide
The U.S. economy expanded by a tepid 1.5 percent during the second quarter of 2012, according to Friday’s preliminary report by the Department of Commerce. The vacancy rate for rental housing dropped 0.6 percent from last year’s second quarter.
New Owners, New Name for Polos East at Waterford
Advenir has recently added the Polos East at Waterford apartment community to its portfolio, following a $27.1 million transaction. The Aventura-based company–a provider of multifamily real estate investment and management services—has sealed the sale by changing the name of the 308-unit community to Advenir at Polos East.
Baltimore’s Aging Bus Yard will Get $53M Overhaul
By Adrian Maties, Associate Editor U.S. Transportation Secretary Ray LaHood announced on July 23 that $787 million has been awarded by the federal Department of Transportation as part of its annual State of Good Repair and Bus Livability program to help repair and modernize the nation’s aging transit infrastructure. The money will fund 255 projects […]
Mayo Clinic Marks Milestone With Innovative Projects
By Camelia Bulea, Associate Editor The Mayo Clinic is building a $182 million proton-beam therapy center adjacent to its Phoenix hospital. The first treatment rooms are expected to open by 2016, followed by additional rooms the next year. Additionally, the non-profit clinic plans to add a medical-school branch campus in Scottsdale in 2015, according to […]
Fresh Start in Store for Fading Warr Acres Retail Center
By Gabriel Circiog, Associate Editor A developer is planning to give the nearly vacant West Park Mall in Warr Acres a new lease on life, NewsOK.com reports. Located at the corner of NW 63 and MacArthur Boulevard, the 124,955-square-foot property was acquired for $2 million by Warr Acres Holdings L.L.C., an investment entity controlled by […]
LANE4 Lands Two Major Healthcare Tenants for $50M Mixed-Use Development
Two major healthcare tenants will be anchoring the second phase of LANE4 Property Group’s 39Rainbow, a $50 million mixed-use development in Kansas City, Kan.
Tanger Factory Outlet Embarks on $8M Expansion of Retail Center
By Eliza Theiss, Associate Editor
Tanger Factory Outlet Centers Inc. has started construction work on its Tanger Outlet Gonzales facility in Metropolitan Baton Rouge’s Ascension Parish.
The expansion part of the $8 million project entails adding 50,000 square feet to the shopping […]
Fall Start Eyed for 66-Acre Project at Lake Woodlands
The Woodlands Development Co. will soon begin construction on a 66-acre mixed-use development dubbed Hughes Landing at Lake Woodlands. Woodlands Development, an affiliate of the Howard Hughes Corp., envisions a dynamic destination that would include up to eight office buildings, a boutique hotel, high-end specialty retail, entertainment venues and multi-family housing.
Miami Center Trades Owners; Crocker Pays $262M for Trophy Tower
Miami’s best-known office address, 201 South Biscayne Drive—where the Miami Center stands—has just traded for $262.5 million in what the Wall Street Journal calls the deal of the week. Boca Raton-based Crocker Partners purchased the 35-story building from Sumitomo Corp. of America, a unit of the Japanese global trading firm Sumitomo Corp.