News
Paramount/Colony Capital JV Closes on $481M Deal for Queens Trophy Tower
A joint venture of Paramount Group Inc. and Colony Capital L.L.C. bought the 50-story, 1.4 million-square-foot asset, which is the tallest New York City building outside of Manhattan.
Albuquerque Plans $20M Facelift for Convention Center
Albuquerque Mayor Richard Berry recently unveiled a $20 million plan to redesign the exterior of the Albuquerque Convention Center. Twenty-one years have passed since the Convention Center, built in 1972, received a fresh look, according to Cvent Blog. he redesign will focus on the center’s west end and will turn it into a space that represents Albuquerque and New Mexico, much like the Albuquerque International Sunport, reported New Mexico Business Weekly.
IKEA’s Real Estate Arm to Build Master-Planned Community in East London
IKEA’s real estate arm, LandProp Holding, has begun a new 2 million-square-foot mixed-use master-planned neighborhood just south of the Olympic Park in Stratford, an area in eastern London.
JBG, Bozzuto Partner on Land Purchase for Mixed-Use Suburban D.C. Project
With the closing of a recent land transaction, The Bozzuto Group and JBG Rosenfeld Retail have taken a big step forward in their plan for a mixed-use development at Crown, a 182-acre master-planned community just outside of Washington, D.C., in Gaithersburg, Md.
Qatar to See New $1.7B Shopping Center, Country's First IKEA
Doha, the capital city of Qatar, is set to get a massive $1.7 billion shopping center. The promising complex will offer approximately 2.7 million square feet of space divided into 500 retail units. A large chunk of the space will be filled by the country’s first IKEA.
LED Upgrade Will Be Latest Environmental Step for SL Green
SL Green Realty Corp. is nearing completion on an extensive, and apparently quite profitable, $2.5 million LED lighting retrofit involving 21 office buildings totaling 7 million square feet.
Berkeley Point Capital Names Jim McDevitt President
Berkeley Point Capital L.L.C. has been adding executives to its ranks for the past several months, capping it off this week with the news that CRE finance veteran Jim McDevitt had been named president.
Economy Watch: Housing Starts Up in June; Beige Book Cautiously Optimistic; Bernanke Day Two
June housing starts increased 6.9 percent over May, with the majority of action on the single-housing front. The latest Federal Reserve Beige Book also took note of the improving housing market, though it was less optimistic about the general economy. Bernanke was back before Congress again on Wednesday, though he didn’t have much new to say.
Luxury Apartments to Rise in Marigny
By Eliza Theiss, Associate Editor New Orleans is reaching for new residential heights. Or at least some of its developers are–like Sean Cummings. The notorious Crescent City developer recently presented plans for a 74-foot-tall apartment building before the New Orleans City Planning Commission and received approval to bring his plans before the city council, reported […]
Cleveland to Get New Police Station
By Adrian Maties, Associate Editor The city of Cleveland is working together with MidTown Cleveland Inc. on a $17.5 million development project that will bring the first new police station to the city in 34 years. The project will help make the neighborhood safer, will catalyze development–and will free two important properties in Midtown and […]