News
South Market Slowly Moves Forward
By Eliza Theiss, Associate Editor The New Orleans Industrial Development Board is advancing discussions with developer Domain Cos. regarding possible tax abatements for South Market District, the mixed-use project planned near the Loyola Avenue Streetcar line. Domain is requesting a PILOT (or payment in lieu of taxes) of $114,000 a year for 15 years from the […]
Old Cleveland Skyscraper to be Converted into Apartments
By Adrian Maties, Associate Editor
An office building in Cleveland’s downtown has been sitting empty since 2009, creating one of the largest dead zones in the city’s former financial district. Now, the K&D Group, Northeast Ohio’s largest privately held owner of […]
Duke Pays $22M for Five-Building Hamilton Portfolio
By Adrian Maties, Associate Editor
Duke Realty Corp. has purchased five 100 percent-leased medical buildings in Hamilton, a northern suburb of Cincinnati. The Cincinnati Business Courier reports that the company paid more than $22.2 million for the buildings. With the new […]
Ashkenazy Nabs 309 KSF Shops at The Bravern in Washington State
The Shops at The Bravern, the 309,000-square-foot retail component of the 1.6 million-square-foot The Bravern mixed-use property in Bellevue, Wash., has just come under new ownership as Ashkenazy Acquisition bought the swank suburban Seattle retail center from Schnitzer West.
City Hall Opening Boosts Downtown Revival Hopes
By Alex Girda, Associate Editor
As Las Vegas struggles to emerge from three years of recession, the recent unveiling of the $185 million city hall offers a glimmer of better things to come. Located at 495 S. Main St., the 310,000-square-foot project developed by Forest City Enterprises Inc. is the latest in a series of high-profile […]
Student Population Boom Drives $52M Project Near ASU Campus
By Alex Girda, Associate Editor
Banking on demand from a fast-growing student population, EdR is developing a $52 million mixed-use collegiate housing community near Arizona State University’s Downtown campus and the Phoenix Biomedical campus.
The mid-rise development will feature 609 beds within 326 units. Concord Eastridge is serving as construction partner for the 326-unit, 609-bed complex and […]
Shell Announces Possible Ethane Cracker Plant Location
by Adriana Pop, Associate Editor
Shell Chemical LP signed a land option agreement with Horsehead Corp. to evaluate a site in Beaver County, where it could build a multibillion-dollar ethane cracker plant.
The Shell subsidiary chose a 300-acre area near Monaca, in close proximity to the Conway Railyards and approximately 15 miles from the Pittsburgh International Airport.
“This is […]
682 KSF Pennsylvania Office Park Gets $45M Refi
Cedar Crest Professional Park, a 682,000-square-foot professional office campus just outside of Allentown in Pennsylvania’s Lehigh Valley, has been refinanced to the tune of $45 million by MRA Realty Advisors on behalf of Cedar Crest Professional Park VII.
ECI Purchases Apex Site to Develop 300-Unit Apartment Complex
by Adriana Pop, Associate Editor
Georgia-based ECI Group Inc. plans to develop the Columns at Broadstone, a 300-unit multifamily apartment complex in Apex. The NewsObserver reports that the company paid $2.2 million for a 19-acre site just off U.S. 1, near its intersection with E. Williams Street. ECI Group acquired the land from Kite Realty, owner […]
Bascom Buys $73.5M Property in State’s Largest Multifamily Acquisition Since ’07
by Adriana Pop, Associate Editor
The Bascom Group LLC has acquired Oasis at Waipahu Apartments, a 406-unit community in Waipahu, Hawaii for $73,500,000. The sale represents the state’s largest multifamily transaction since 2007.
In a recent announcement, Andrew Newton, principal at The Bascom Group, said this is the company’s sixth acquisition in Hawaii. “The Hawaii market has […]