News
Avison Young to Open NYC Office
Canada’s largest independently owned commercial real estate services company has made its debut in the Big Apple.
Rising Returns with Value-Add Purchase of PacMutual Complex
By Alex Girda, Associate Editor A partnership led by veteran executive Nelson Rising has made its debut with the acquisition of the landmark PacMutual building in Downtown Los Angeles. Rising Realty Partners bought the 424,598-square-foot, three-building asset in association with Mount Kellett Capital Management L.P., its financial partner. According to the Los Angeles Times, local real […]
KTGY-Designed Arista Uptown Apartments Soon to Be Available
By Gabriel Circiog, Associate Editor KTGY Group Inc., Architecture + Planning has announced the completion of the first of eight 3-story buildings planned at the Arista Uptown Apartments in Broomfield. Developed by Denver-based Smith/Jones Partners LLC and designed by KTGY, the transit-oriented apartment community will feature a total of 272 units—18 studios, 149 one-bedroom and […]
Austin Healthcare Industry Welcomes Lakeway Regional Center
By Camelia Bulea, Associate Editor
Lakeway Regional Medical Center recently opened its doors at 100 Medical Parkway. The eight-story hospital will offer primary care, general surgery, an emergency room, labor and delivery, oncology, dentistry and a host of other specialties.
According to […]
Hines, J.P. Morgan Begin Construction on 415 KSF Office Building in La Jolla
Hines and its joint venture partner — a group of institutional investors advised by J. P. Morgan Asset Management — have broken ground on the second office tower at La Jolla Commons in San Diego’s University Towne Center submarket. The project will result in a 415,000-square-foot building that will be occupied in its entirety by LPL Financial.
Manhattan Multi-Family Sales Jump in First Quarter
According to Ariel Property Advisors’ “Multi-Family Quarter in Review: New York City” report, New York multi-family sales increased 34 percent in the first quarter of 2012.
NYC's 530 Fifth Gets Upgrade, Shows Retail Demand Continues to Expand
The new owners of 530 Fifth Ave. in Manhattan are targeting fashion tenants as they upgrade and reconfigure the building’s retail spaces — and are riding the crest of a wave that shows the world-famous corridor is once again seeing rising rents for the sector.
Taubman Announces Construction of $315M, 880 KSF Mall in Sarasota
Taubman Centers, in conjunction with Benderson Development, will begin construction on the 880,000-square-foot Mall at University Town Center in Sarasota. The retail complex, which will cost an estimated $315 million, will feature Saks Fifth Avenue, Macy’s and Dillard’s among its approximately 115 stores.
Economy Watch: Case-Shiller Says Many Housing Markets Hit New Lows
The S&P/Case-Shiller indexes indicated that the housing market hasn’t found its bottom yet, with nine cities posting new lows as of February 2012. New-home sales were also down 7.1 percent in March. And consumer confidence declined slightly last month.
Clarion Buys 1600 Seventh Ave. Tower in $137M Sale-Leaseback
By Alex Girda, Associate Editor In a $137 million sale-leaseback deal, Clarion Partners L.L.C. has taken ownership of 1600 Seventh Ave., a 598,000-square-foot office tower in Downtown Seattle. CenturyLink, the telecommunications company formerly known as Qwest Communications, sold the property it has occupied for 36 years and will remain in 260,000 square feet of the tower. A team from […]