News
Arizona Breaks into Top 5 States For Construction Spending: NAIOP
By Alex Girda, Associate Editor A NAIOP Research Foundation report finds that Arizona ramped up commercial real estate development spending in 2011, pumping $4.2 billion into building new space. That total falls short of pre-recession levels, but it was good enough for fifth place, as the state trailed only Texas, New York, West Virginia and […]
Oxford Development Unveils Redevelopment Options for 350 Fifth Avenue
by Adriana Pop, Associate Editor Oxford Development Co. announced plans for the redevelopment of its six-story building at 441 Smithfield Street, one of the company’s owned assets. Rebranded as 350 Fifth Avenue, the new Class A office property will feature upscale retail and restaurant space. In order to better suit market demands, Oxford has invested […]
U-Haul Acquires 425-Unit Self-Storage Facility in Chapel Hill
by Adriana Pop, Associate Editor U-Haul Company of Raleigh has expanded its network of self-storage locations with the purchase of an existing storage facility in Chapel Hill. Financial terms of the transaction were not disclosed. The new U-Haul Moving and Storage of Chapel Hill, formerly known as Ironclad Self Storage, features more than 425 storage […]
Developer Wins Approval to Reclassify Agricultural Land in Maui
by Adriana Pop, Associate Editor The Hawaii Land Use Commission has approved Alexander & Baldwin Properties’ petition to reclassify 545 acres of agricultural land in Wailuku and Waikapu in Central Maui. The reclassification would allow the Honolulu-based company to build a master-planned residential community named the Waiale Community Project. The housing development will comprise 2,550 […]
Metro Denver EDC Unveils New Campaign
By Gabriel Circiog, Associate Editor The Metro Denver Economic Development Corporation unveiled a new campaign that aims to mobilize the region’s business leaders and perpetuate the image of Denver as a top place for innovative people and companies. The newly formed Metro Denver E-Force will be comprised of executives—known as agents—who will work in partnership […]
Construction on PNC Financial’s $400M HQ to Begin
by Adriana Pop, Associate Editor Demolitions of nine buildings in the east block of Wood Street clear the path for the construction of PNC Financial Services Group’s $400 million headquarters. The 33-story office tower will be located on the Southeast corner of Fifth Avenue and Wood Street, the same Pittsburgh intersection where PNC has been […]
Alamance Regional Medical Center Plans $60M Expansion
by Adriana Pop, Associate Editor Alamance Regional Medical Center is planning a $60 million expansion, the largest since the hospital opened in 1995. According to The Business Journal, the campus improvement project includes a two-story, 40,000-square-foot cancer center to be located at the end of the Medical Arts building. The facility will feature new space […]
Land Use Commission Delays Decision on Hoopili Master-Planned Community
by Adriana Pop, Associate Editor The Hawaii Land Use Commission (LUC) has granted D.R. Horton’s request that the agency delay its decision on a proposed 1,554-acre master-planned community in Ewa. D.R. Horton— Schuler Homes LLC is seeking approval to change the land classification of prime agricultural to urban, and needs more time to draft legal […]
Zeller Realty Secures Refinancing for LaSalle Plaza
By Gabriel Circiog, Associate Editor Chicago-based Zeller Realty has secured refinancing for LaSalle Plaza from a unit of Minneapolis-based U.S. Bancorp, U.S. Bank Commercial Real Estate. While terms of the deal were not disclosed, the Minneapolis / St. Paul Business Journal reports the loan is estimated to be worth around $92 million. Located at 800 […]
BC LYND Hospitality Buys 103-Year-Old Hotel
By Camelia Bulea, Associate Editor BC LYND Hospitality has bought an historic hotel in downtown San Antonio. The 103-year-old hotel, called the St. Anthony Hotel, will undergo about $24 million in renovations. BC LYND is a joint venture of LYND and BC Commercial Partners L.L.C. The property represents the first significant acquisition that the joint […]