News
Former NOCCA Building to Become Luxury Condo Property
By Eliza Theiss, Associate Editor Plans to convert the former New Orleans Center for Creative Arts (NOCCA) building into a luxury multifamily project has been unanimously approved by the New Orleans City Council, reported The Time-Picayune. Developer Jim MacPhaille purchased the former school in April 2011 from the Orleans Parish School Board for $2.5 million, […]
Investor Trio to Breathe New Life into Avenue Tower
By Adrian Maties, Associate Editor With Downtown Cleveland’s occupancies approaching 96 percent and growing, according to Metro Trends, a local group of investors is hoping to acquire the residential portion of the Avenue District condominium tower downtown and rent out the empty apartments. Located at the intersection of East 12th Street and St. Clair Avenue, the […]
Hawthorne Center in Blue Ash Sold to Georgia Real Estate Firm for $16.6M
By Adrian Maties, Associate Editor OA Development, a commercial real estate investment firm based in Atlanta, has purchased the Hawthorne Center, a 135,000-square-foot Class A office building in Blue Ash. The $16.6 million deal represents the company’s seventh acquisition in less than 18 months. The low-rise building was constructed in 2001 on more than seven […]
Kennedy Wilson Snaps Up West Covina M-F Complex for $44M
By Alex Girda, Associate Editor Kennedy Wilson has acquired Torrey Pines, a 251-unit apartment community in West Covina, for $43.7 million. Kevin Hart, president of the firm’s multi-family group, explained that the property’s position as “the newest market-rate apartment community in the city,” combined with a dearth of new product in the pipeline, made it an […]
JMA Ventures Buys Redmond Asset from Clarion for $39M
By Alex Girda, Associate Editor JMA Ventures has expanded its Puget Sound portfolio with the $38.5 million acquisition of the Offices at Riverpark in Redmond. The San Francisco-based investor bought the property from Clarion Partners, which also developed the 106,281-square-foot Class A property. That translates to a sale price of $362 per square foot for […]
Groundbreaking for $300 M Medical Research Center in Boston
A ceremony hosted by representatives of Alexandria Real Estate Equities, Inc., Charles River Realty Investors, Clarion Partners, LLC and Newton-based National Development marked the groundbreaking of Longwood Center, a 414,000-square-foot medical research facility on a former vacant plot at the main intersection of Longwood and Brookline Avenues.
Soitec Solar to Invest $150 Million in New Manufacturing Facility
By Gabriel Circiog, Associate Editor French firm Soitec Solar has received a SUNPATH award in the amount of $25 million from the U.S. Department of Energy to support its new solar manufacturing facility in San Diego. The French company acquired a 176,000-square-foot manufacturing center in December to support over 300 megawatts of advanced projects throughout […]
Cordish Companies will Add Two Residential Developments to the Power & Light District
By Gabriel Circiog, Associate Editor The developer of the Power & Light District, Baltimore-based Cordish Companies, is planning to add two residential projects to the mix, which will represent a $70 million investment, The Kansas City Star reports. Located in the heart of downtown Kansas City, with more than a half million square feet of […]
St. John Properties Starts Work on Two New Office Buildings at The GATE
By Adrian Maties, Associate Editor The Government and Technology Enterprise (The GATE) project is getting ready to welcome two new single-story, Class ”A” office buildings as St. John Properties has recently started work on 6170 and 6160 Guardian Gateway. Just a few months ago, St. John broke ground on 6190 Guardian Gateway, a three-story, […]
Dees Stribling’s Economy Watch Weekly: The Nervous Summer of 2012 Continues
The nervous summer of 2012 continues.CPE‘s economic analyst, Dees Stribling, gives his update for the week ending June 22, 2012.