News
Fresh Market Coming to New Orleans; Medical Clinic for Lower Ninth
By Eliza Theiss, Associate Editor First Costco and Wal-Mart announced plans to come to New Orleans. Now another chain store has announced plans for the Crescent City. The difference, however, is that The Fresh Market already has a three-store presence in New Orleans, with the fourth one scheduled to open on July 25 at 9 […]
Cleveland Skyscraper Avoids Foreclosure
By Adrian Maties, Associate Editor Great news for the Tower at Erieview, one of downtown Cleveland’s best-known buildings. A foreclosure case against the office-retail complex at 1301 E. Ninth St. has been dropped, thanks to the efforts of Werner Minshall, the owner of the property. He managed to find a lender willing to buy out […]
Developers Break Ground on $54M Project in Over-the-Rhine
By Adrian Maties, Associate Editor The next phase of development in Cincinnati’s Over-the-Rhine neighborhood started on Tuesday, June 26, with the groundbreaking ceremony for the massive, $54 million Mercer Commons project. Cincinnati mayor Mark Mallory, city manager Milton Dohoney Jr., city council members, and 3CDC and PNC Bank representatives attended the ceremony. The Mercer Commons […]
Larry Ellison Closes on $500M+ Purchase of Lanai from Castle & Cooke
by Adriana Pop, Associate Editor Larry Ellison, founder and CEO of Oracle Corp., has completed his acquisition of 98 percent of Lanai, Hawaii’s sixth-largest island, from David Murdock’s Castle & Cooke. Financial details of the transaction were not disclosed, although the price is estimated at more than $500 million. The Pacific Business News reports that […]
Pittsburgh Penguins, University of Pittsburgh Plan for Sports Complex in Cranberry
Adriana Pop, Associate Editor The Pittsburgh Penguins along with the University of Pittsburgh Medical Center (UPMC) are planning a joint practice rink and sports medicine complex in Cranberry. According to the patch.com, the proposed 150,000-square-foot complex would be located in the Summit of Cranberry Woods business park off Route 228, near Hilton Garden Inn. Penguins […]
United Therapeutics Buys 3 Buildings in Research Triangle Park for $17.5M
by Adriana Pop, Associate Editor United Therapeutics Corp. has paid GlaxoSmithKline $17.5 million for the purchase of three buildings in the Research Triangle Park. The property sits on 135 acres of land adjacent to United Therapeutics’ 55-acre manufacturing facility and encompasses approximately 720,000 square feet of office and laboratory research space. The Research Triangle Park’s […]
SLU Rezoning Plan Features Towers and Affordable Housing
By Alex Girda, Associate Editor A proposed rezoning plan unveiled by Mayor Mike McGinn for Seattle’s thriving South Lake Union submarket envisions apartment and condo towers rising up to 400 feet above street level and could add as many as 12,000 new households to the neighborhood. The proposal, which requires City Council, provides for affordable […]
Caruso Launches $32M Mixed-Use Complex in West L.A.
By Alex Girda, Associate Editor Caruso Affiliated has started construction of 8500 Burton Way, a mixed-use development at the corner of Burton Way and La Cienega Boulevard in West Los Angeles. The $32 million project will consist of 88 luxury apartment units, plus a 14,000-square-foot Trader Joe’s and a coffee shop on the ground floor. […]
Wood Partners to Bring 22-Story Luxury Rental to Los Angeles
Wood Partners has become the latest developer to announce plans to erect a high-rise apartment building in Los Angeles, in its case a 22-story tower housing 290 units in the South Park district.
Globe Buys Chandler Property; MainSpring Sells Tempe Trio
By Alex Girda, Associate Editor Scottsdale-based investment and private equity firm Globe Corp. is the new owner of a Chandler industrial property that it has acquired from Milgard Manufacturing Inc. in a $7.6 million deal, The Phoenix Business Journal reports. The building is part of the Westech Corporate Center near Arizona Avenue. Tacoma, Wash.-based Milgard, a […]