News
SL Green Sells Half its Interest in 717 Fifth Ave. to JV Partner Jeff Sutton
In a transaction that released $85 million in net cash proceeds, SL Green Realty Corp. restructured and recapitalized its joint venture at 717 Fifth Avenue in New York City.
N.J. Utility Renews 825 KSF Lease in Newark
Public Service Enterprise Group’s deal with Wells Real Estate Investment Trust II, owner of the 1 million-square-foot office high-rise at 80 Park Plaza, marks one of the Garden State’s largest-ever real estate transactions.
MGM Resorts Wins Round on Harmon; Tutor Perini Appeals
By Alex Girda, Associate Editor MGM Resorts International’s woes with the Harmon hotel, part of the CityCenter project, have taken a step toward resolution. The Las Vegas Sun reports that Clark County District Court Judge Elizabeth Gonzalez has approved the company’s plans to implode the problematic structure. However, demolition will not go ahead immediately as Tutor Perini Corp., the project’s […]
Biotech Firm Organovo Moves HQ to New 16 KSF Facility
By Alex Girda, Associate Editor Biotechnology firm Organovo Holdings, Inc., has relocated to a larger facility in San Diego facility. Noted for its innovative three-dimensional bioprinting technology, Organovo has leased 15,539 square feet in the city’s Sorrento Mesa area. The new space will be almost four times as large as the company’s previous headquarters and […]
Developers Launch 1 MSF Master-Planned Community in Va.
Downtown One Loudoun will eventually comprise about 1 million square feet of mixed-use development. Phase two will include an upscale hotel, retail and office space and luxury townhomes.
Economy Watch: New Home Sales Drop in June; Mortgage Delinquencies Edge Up; Some Food Prices to Rise in '13
The mild exuberance that the housing market was feeling in previous months may have come to an end, as new worries about the economy infect the potential pool of home buyers.
Manhattan's 200 Madison Ave. Holds onto Havas in 170KSF Lease Renewal, Expansion
More than a few major office tenants in Manhattan are choosing to stay put at their current addresses, and that is exactly what Havas Worldwide Health has decided to do.
Community Energy Solar Begins Construction of Pennsylvania’s Largest Green Energy Project
By Veronica Grecu, Associate Editor Work has started at Keystone Solar Project located along Lancaster Pike south of the city of Lancaster, PA, soon after Community Energy Solar announced it had closed financing on the six megawatt development. Community Energy Solar’s retail marketing division and Chicago-based Exelon Corporation, one of the nation’s largest electricity providers […]
$44 Million Grant Helps Detroit RiverWalk Redevelopment
By Veronica Grecu, Associate Editor In an effort to wrap up the remaking of the 5.5 mile RiverWalk that connects the Ambassador Bridge and Belle Isle, the city of Detroit received a total of $44 million in state and federal grants as financial support for the final stage of construction. According to Detroit Free Press, […]
147-Room Indigo Hotel Sold in Foreclosure Auction
By Eliza Theiss, Associate Editor Global investment management firm Archon Group LP recently acquired the 147-room Hotel Indigo at 1719 West End Ave. at a foreclosure auction, bidding $18 million, or $122,000 per room. According to The Tennessean, Irving, Texas-based Archon purchased the boutique hotel through a limited-liability corporation, bidding $18 million at a courthouse […]