News
Miller-Valentine Wins Two Portfolio Contracts from Iron Mountain
Miller-Valentine Group has been tapped by Iron Mountain Inc. to serve as general contractor for the information management service provider’s portfolio of facilities in the Mid-South and Ohio Valley regions.
Beacon, Novare Plan $60M Apartment High Rise
by Adriana Pop, Associate Editor Local developer Gregg Sandreuter’s Beacon Partners along with Atlanta-based Novare Group are planning a 23-story luxury apartment tower in downtown Raleigh. According to the NewsObserver, the 320-unit high-rise will be situated on the southwest corner of Martin and Blount streets. At a price tag of $60 million, SkyHouse Raleigh will […]
Affordable Housing Partners Wins Bid to Purchase Leasehold on 12 City Rentals
by Adriana Pop, Associate Editor The City and County of Honolulu has selected Honolulu Affordable Housing Partners LLC to complete a leasehold purchase agreement for the City’s 12 rental housing complexes. In February, the City and County of Honolulu issued a Request for Proposal seeking bids from private companies interested in purchasing, managing and maintaining 12 affordable apartment […]
Parmenter Lands Fifth Third Tower
Miami-based Parmenter Realty Partners has acquired Fifth Third Center, a 30-story office in Charlotte, N.C., with the aid of a $120 million financing deal obtained by CBRE Capital Markets.
Economy Watch: GDP Growth Sluggish, Low Hopes for EU Summit but Weekly Unemployment Claims Dip
The GDP grew sluggishly in the first quarter; low hopes surround the EU summit; and weekly unemployment claims decreased by 6,000 for the week ending June 23.
The Winners: CPE’s 2012 Distinguished Achievement Awards
CPE is pleased to announce the winners of the second-annual Distinguished Achievement Awards, recognized for their ability to complete deals and projects in the face of last year’s recovering economy.
Update: Nordstrom to Hit Manhattan–Finally
It’s been a long time coming. Nordstrom Inc. has had its eye on opening a store in Manhattan for yearsand years, and now the long-held plan is finally coming to fruition. The fashion specialty retailer joined New York City Mayor Michael Bloomberg and real estate owner Extell Development Co. this afternoon to announce Nordstrom’s 285,000-square-foot news.
DivcoWest Flips 354 KSF San Francisco Office Building
DivcoWest has entered into an agreement to sell 1275 Market St., a 354,000-square-foot office building in San Francisco, to Dolby Laboratories Inc. in a transaction valued at $109.8 million. Dolby will occupy the office tower in its entirety.
Stockbridge Capital Closes $220M Fund; Targets Value-Add Assets
By Alex Girda, Associate Editor Stockbridge Capital Group recently announced the final closing of a $220 million fund that will target a wide range of value-added investments including industrial, office, retail and multi-family properties in major domestic markets. Established in 2011, Stockbridge Value Fund I will focus on distressed and undervalued properties. The entity will […]
CPE Sentiment Survey Turns Gloomy; Capital Markets, Government Policies Named Long-Term Focus
Commercial real estate executives believe trends in the capital markets will have the greatest impact on the industry in the next five years, while government policies will pose the greatest challenge, according to the latest CPE 100 Quarterly Sentiment Survey. Their near-term impact was noticeably gloomier than in the first quarter.