News
Economy Watch: New-Home Starts Take Dip
Housing starts took a 5.8 percent dip in March, according to the Census Bureau. The IMF expanded its projections to say that the world economy will grow by 3.5 percent this year. And investors appear very interested in Spanish debt, as the country sold 3.2 billion euros of bills on Tuesday.
Paul Daneshrad: U.S. Demographics and the Multi-Family Market
Starpoint CEO Paul Daneshrad blogs on CPE’s From the Inside about how changes in U.S. demographics are impacting the multi-family market.
Westport Capital Partners Adds to Fooprint with $17M Office Asset
By Alex Girda, Associate Editor Westport Capital partners has added to its Greater Phoenix footprint by buying the Camelback Arboleda office campus in a $16.6 million deal, the Phoenix Business Journal reports. The 179,751-square-foot asset commanded a price comparable to the $17 million paid by the seller, CFS Arboleda L.L.C., when it acquired the property […]
TIAA-CREF Picks JLL as Leasing Manager for 475 Fifth Avenue in NYC
The Manhattan office building at 475 Fifth Ave. came under new ownership last fall when TIAA-CREF acquired it for $144 million, and now it has come under new management. Jones Lang LaSalle has been chosen to serve as the exclusive property manager and leasing agent for the 280,000-square-foot asset.
NKF Brokers 916 KSF Chicago Industrial Lease
Following the trend of positive industrial fundamentals in the Chicagoland area, supply-chain firm M. Block & Sons has signed a 915,645-square-foot lease at 18801 Oak Park Ave. in Tinley Park, Ill. Newmark Knight Frank Epic represented the tenant in the lease transaction.
Twin Cities Developer Peter Remes Plans Renovation of Recently Acquired 5.5-Acre Complex
By Gabriel Circiog, Associate Editor Twin Cities developer Peter Remes and his First & First L.L.C. purchased nine buildings in St. Paul’s Midway area and plans to invest millions of dollars in renovation, Finance & Commerce reports. The 5.5-acre, 205,000-square-foot complex, located from 550 to 558 Vandalia St., used to be the home of heating […]
SBS Construction Begins Work on a 78,000-SF Facility; SA Library Earns LEED Gold Certification
By Camelia Bulea, Associate Editor Self-storage developer SBS Construction has begun construction on Taft Self Storage, a facility that will be located at 11707 Culebra Road on the city’s far West Side. According to the San Antonio Business Journal, the facility will total about 78,000 square feet and will include 524 storage units — a […]
JLL Selected to Lease Two Uptown Buildings
By Camelia Bulea, Associate Editor Jones Lang LaSalle Inc. has been selected by Caddo Holdings L.L.C. to lease a 171,956-square-foot office-and-retail portfolio in Uptown Dallas. The portfolio includes 75,956 square feet at 3400 Carlisle St. and 96,000 square feet at 2811 McKinney Ave., according to Citybizlist.com. The two properties, along with 2501 Cedar Springs Ave. […]
$15M Destrehan Clinic Planned; Fourth Daughters of Charity Clinic to Open
By Eliza Theiss, Associate Editor St. Charles Parish Hospital is seeking the public’s approval on an April 21 ballot for a $15 million loan intended for several projects, including an after-hours and primary-care clinic in Destrehan and further cardiac-care services at the main facility in Luling. According to a report by The Times-Picayune, St. Charles […]
$275M Hard Rock Gaming and Entertainment Facility Planned for Northfield Park
By Adrian Maties, Associate Editor
Hard Rock International, owner of one of the world’s most iconic brands, announced on April 5 that it plans to develop and operate a $275 million gaming center at Northfield Park. Hard Rock has partnered on […]