News
IDS Center Hits the Market; Landmark Could Fetch $300M
By Gabriel Circiog, Associate Editor Inland American Real Estate Trust Inc. is marketing the 2 million-square-foot IDS Center in Downtown Minneapolis, a signature feature of the city skyline for four decades. Designed by Philip Johnson, the post-modern landmark encompasses a 57-story office tower with an eight-story annex, a two-story retail center, a 19-story Hilton hotel and […]
$7.5B Master Plan for D.C.'s Union Station Revealed
The group behind the comprehensive transformation of Washington, D.C.’s Union Station has revealed the Washington Union Station Master Plan, detailing a massive project that will cost approximately $6.5 billion to $7.5 billion to realize.
CBRE Group Makes Appointments at the Top
CBRE Group Inc. has announced that Calvin Frese will step into the position of CEO of the company’s Americas business, Mike Lafitte will serve as Global President of CBRE Services, and two other company veterans will take on new roles.
NOLA Mall Receives $70M Outlet Upgrade
The Riverwalk Marketplace along the New Orleans waterfront will be transformed into an upscale outlet center in a $70 million redevelopment that will close the current mall for about a year.
Developers Plan Senior Housing and 188-home Projects in Leander
By Camelia Bulea, Associate Editor
The City of Leander is welcoming two major housing projects, with the transformation of around 300 acres of land into a 188-home development, as well as a mixed-income and senior-housing project. The first housing project will […]
Economy Watch: Pending Home Sales and Unemployment Claims Drop; ECB May Buy Euro Bonds
The National Association of Realtors reported a drop in pending home sales in June, while the U.S. Department of Labor found a decrease in initial unemployment claims for the week ending July 21. In overseas news, the European Central Bank has vowed to preserve the euro at all costs, even if it means buying bonds.
LEED Silver Multifamily Property Sold for $74M
By Eliza Theiss, Associate Editor Post Properties Inc. has acquired Circle at South End from Crescent Resources in one of Charlotte’s priciest multifamily transactions. Post paid $74 million, or $205,555 per unit, for the property, which it immediately re-branded as Post South End. The 360-unit property is located in the Queen City’s South End neighborhood […]
Morgan Group Starts Project in Jacksonville’s Revived Construction Market
The Morgan Group has started construction on a 240-unit Class A apartment community called The Terrace at Town Center.
Two Urban Centre Leases Full Floor to Mortgage Contracting Services
In a move to consolidate its two Tampa locations into a single space, Mortgage Contracting Services has signed a long-term lease for 33,000 square feet of Two Urban Centre.
DDR Buys Tucson Spectrum Shopping Center for $80M
Tucson Spectrum, a million-square-foot shopping center on West Irvington Road, was recently bought by DDR Corp., an Ohio-based real estate investment trust, for $80 million. The open-air retail center is currently 99 percent leased and major tenants include Harkins Theatres (l80,527 square feet), Target (124,696 square feet), JCPenney (99,956 square feet), Home Depot (104,000 square feet) and Food City (55,000 square feet), reported the Arizona Daily Star.