News
NAI Realvest Negotiates Three New Orlando Lease Agreements in One Week
NAI Realvest has carried out three successful lease negotiations for the Orlando metro area, all three within the past week.
Ivanhoe and Hines to Build $300M Chicago Office Tower
By Gabriel Circiog, Associate Editor Ivanhoe Cambridge and Hines have partnered to develop a 45-story office tower in the West Loop in downtown Chicago. The announcement came from Mayor Rahm Emanuel, who said the $300 million project is “a vote of confidence for our city, welcome news for the local economy and a signal that […]
Colorado State EDC Approves Incentives for Gaylord and Pueblo Projects
By Gabriel Circiog, Associate Editor The Colorado State Economic Development Commission has awarded the Gaylord Aurora and Pueblo projects a sales tax incentive pursuant to the state’s Regional Tourism Act of 2009. The EDC went through a nearly year-long process of selecting, out of six applicants, the winners of the state RTA funding. The commission […]
The Austonian Condominium Tower Refinanced
By Camelia Bulea, Associate Editor
The owners of The Austonian have recently refinanced the 56-story luxury complex through Transwestern Structured Finance Group in Houston. No financial details were immediately made public.
According to the Austin Business Journal, Spain-based Grupo Villar Mir formed […]
NAIOP: CRE Construction, Development Added $262B to GDP in 2011
The U.S. economy looks to be weathering the economic storm quite well as 2012 roars into its second quarter. A new report by NAIOP, the Commercial Real Estate Development Association, found that commercial real estate development contributed $261.6 billion to the U.S. GDP in 2011, including $137.8 billion in hard-cost construction spending as well as $123.8 billion in soft costs, site development and tenant improvements. The full extent of that $261.6 billion, however, will be felt through both direct spending and the “cumulative economic benefits resulting from the re-spending of these outlays (the multiplier effect),” the report noted. The report…
CBRE: Americas Takes Top Spot for Global Investments
According to a report by CBRE Group Inc., the Americas was the world’s best-performing region for real estate investment value, according to the Q1 2012 CBRE Capital Value Index. The result shifted the focus from the Asia-Pacific region, which led the world during most of 2011. Noting that the Americas saw a year-over-year gain of 9.6 percent in the first quarter of 2012, Raymond Torto, CBRE’s global chief economist, said that “there has been a marked increase in investor interest in the Americas’ prime properties over the last year. Last year at this time, the Americas was showing respectable gains,…
Exclusive: JLL Research Shows Latin America Hot on Hotels
Jones Lang LaSalle Hotels has released its first Latin America Hotel Investor Sentiment Survey, and the results show that investors are keen on both acquiring and developing in the region.
Phipps Conservatory’s Certified Living Building Opens in Pittsburgh
by Adriana Pop, Associate Editor The Center for Sustainable Landscapes is scheduled to open at Phipps Conservatory and Botanical Gardens on May 23. It will be one of the world’s first certified living buildings. The 24,350-square-foot facility is the centerpiece of Phipps Conservatory and Botanical Gardens’ $20 million Phase III expansion project. The expansion is meant to […]
Queen’s Health Systems to Acquire Hawaii Medical Center West
by Adriana Pop, Associate Editor Queen’s Health Systems, the corporate parent of The Queen’s Medical Center, has signed a letter of intent and confidentiality agreement with St. Francis Healthcare System to explore the possibility of acquiring the former Hawaii Medical Center West campus. Formerly known as St. Francis West, the Ewa facility located on Fort […]
Gov. Mark Dayton Signs Off on Agreement to Build New Vikings Stadium at Metrodome
By Gabriel Circiog, Associate Editor Gov. Mark Dayton signed off on an agreement to construct a new $975 million stadium for the Minnesota Vikings at the Metrodome during a Capitol ceremony attended by business leaders, fans and team owners Zygi and Mark Wilf, Finance & Commerce reported. As previously reported by Commercial Property Executive, the governor, […]
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