News
California Pension Fund Acquires Statler Arms
By Adrian Maties, Associate Editor The California State Teachers’ Retirement System acquired a majority stake in LCOR, a Berwyn, Pa.-based unit of the defunct financial giant Lehman Brothers Holdings Inc. Included in the more-than-$800 million transaction are 14 apartment buildings totaling 5,000 units and including Statler Arms Apartments in Downtown Cleveland. The Statler is located […]
Cincinnati’s 309 Vine to Get $15M Makeover
By Adrian Maties, Associate Editor The annex building that supplements the 31-story PNC Tower will soon get a $15 million makeover. With construction ongoing at the nearby Banks development, downtown Cincinnati is seeing a lot of activity lately. This new renovation project will bring life back to an important area of downtown Cincinnati and spawn development […]
Sterling Bay Plans Upscale Buildout for Victory Ranch Club
By Alex Girda, Associate Editor Sterling Bay Cos. recently snapped up one of the state’s prime development sites: the 6,500-acre Victory Ranch Club in Park City. The sale price for the property, which was acquired from an affilate of Wells Fargo Bank, was not disclosed. The parcel was originally slated for a 650-unit luxury residential […]
Excel Realty Buys Lake Pleasant Pavilion Shopping Center in Peoria for $42M
By Alex Girda, Associate Editor Bringing its recent investments in the Phoenix area past the $200 million mark, Excel Trust Inc. paid $41.8 million for Lake Pleasant Pavilion Shopping Center in Peoria. National brands represented at the 373,000-square-foot property include Marshalls, Bed Bath and Beyond, Tilly’s, Kirland’s. SuperTarget, a 185,000-square-foot store owned by Target Inc., […]
Environmental Impact of One Paseo Mixed-Use Development is Debated
By Gabriel Circiog, Associate Editor The Carmel Valley Middle School was the center of a heated debate regarding the One Paseo mixed-use development proposed by Kilroy Realty Corporation. Residents gathered to hear the comments of the Carmel Valley Planning Board on the draft environmental impact report, according to The San Diego Union-Tribune. While most locals agree […]
BRA Approves Two Mixed-Use Projects in Roxbury
The Boston Redevelopment Authority (BRA) has picked two teams of developers who will transform a vacant site in Roxbury into a mixed-use community that will serve as a gateway to the bustling Dudley Square.
PREI Buys Ten Peachtree Place, Plans to Achieve LEED Silver for the Property
By Georgiana Mihaila, Associate Editor Prudential Real Estate Investors has recently acquired midtown Atlanta’s Ten Peachtree Place, a fully leased, 20-story, Class A office tower. Acting on behalf of a German institutional advisor, Prudential Real Estate Investors—the real estate investment management and advisory business of Prudential Financial, Inc.—has bought the building from a venture managed […]
Eastpoint Mall Auctioned for $30M
By Adrian Maties, Associate Editor The Eastpoint Mall in Dundalk, MD sold May 29 at auction for $30.3 million, barely one-quarter of the asking price it commanded in 2006. LNR Property LLC, a Miami Beach, Fla.-based real estate investment firm, submitted the winning bid. Tidewater Auctions LLC of Towson handled the sale at the Circuit […]
Milestones: Key Moments in 25 Years of CRE History
The past 25 years have been a time of significant change for the commercial real estate industry. CPE offers a timeline of some of the most critical events of this historical period of CRE history as part of our 25th anniversary celebration.
Slideshow: What’s in Store?
Members of the CPE 100 offer their predictions for the next 25 years as part of CPE’s 25th anniversary special issue.