News
O&S Holdings Sells 603 KSF Mixed-Use Bridge Street Town Centre in Alabama
Five years after developing Bridge Street Town Centre as part of the mixed-use Bridge Street development in Huntsville, Ala., O&S Holdings has sold the 600,000-square-foot lifestyle center to Miller Capital Advisory.
Emerging Trends: CRE Profitability, Lending Look Bright for Remainder of 2012
The Urban Land Institute and PricewaterhouseCoopers have released the results of the annual Emerging Trends in Real Estate survey — and the responses point to a stronger commercial real estate outlook for the remainder of 2012, with a general trend toward a bullish CRE industry.
Marriott’s $210M Gaylord Purchase Brings Structural Changes
Gaylord Entertainment of Nashville has agreed to sell its Gaylord Hotels brand and the management rights to its four hotels to Marriott International for $210 million in cash. The deal hinges on Gaylord’s transition to a REIT structure, which will be decided at a shareholder meeting in August.
Economy Watch: Employment Disappoints in a Big Way; Income, Consumption Rise in April
Only 69,000 jobs were added to the U.S. economy in May and the unemployment rate rose to 8.2 percent. Public-sector jobs are in a long-term decline, thanks to shrinking tax revenues, affecting state and local governments more harshly than the federal sector. But real personal income rose slightly in May, gaining 0.2 percent.
Sonora Village Retail Center in Scottsdale Trades for $46.5M
By Alex Girda, Associate Editor Sonora Village Investors, a partnership of investors Bob Mariash and Ryan Denk, has paid $46.5 million for Sonora Village, a 248,322-square-foot retail center in Scottsdale, the Phoenix Business Journal reported. Sonora Village’s previous owner, Westwood Financial Corp., has sold six retail properties in Arizona during the past six months as […]
Plaza 600 Trades for $55M as Amazon Plans Create Buzz
By Alex Girda, Associate Editor Amazon’s proposed 3 million-square-foot campus in South Lake Union is generating increased activity from investors and developers. Joshua Green Corp. paid $54.9 million for the Plaza 600 Building, a 209,256-square-foot, 20-story office tower near the future site of the Amazon campus, the Puget Sound Business Journal reported. Plaza 600’s seller, […]
New Home Demand and Building Rebound; Land Prices Lag
By Alex Girda, Associate Editor After a long drought, the Las Vegas housing market finally has some good news for homebuilders. New home permits are up 40 percent across the board, with Las Vegas, North Las Vegas and Henderson among the most active areas, according to VegasInc. Prices are staging a comeback as well; so […]
Boyd Keeps Echelon Place Alive After 2 Years of Limbo
By Alex Girda, Associate Editor Since financing shortfalls forced Boyd Gaming to halt construction of the $4.8 billion Echelon Place project two years ago, the mixed-use project has stood as a cautionary tale of overreach. Recently, the developers recently took steps to keep the incomplete project alive, petitioning Clark County to extend several key deadlines. […]
L.A.’s Biggest Apartment Project Since 2008 Under Way
By Alex Girda, Associate Editor J.H. Snyder Co. broke ground late last month on a $200 million multi-family rental project that is the largest of its kind in Los Angeles since the recession began in earnest four years ago. Dubbed the Vermont, the property will encompass 464 rental units in 29-story and 23-story residential towers. In […]
Texas Biomedical Research Institute Breaks Ground on 70,000-SF Lab Complex
By Camelia Bulea, Associate Editor The Texas Biomedical Research Institute has broken ground on a 70,000-square-foot complex that will house 15 research laboratories. The $26.5 million building will provide eight laboratories for the institute’s federally designated Southwest National Primate Research Center (SNPRC), which conducts research on tuberculosis, heart disease, diabetes and AIDS, according to the San […]