News
Inland Buys Stone Creek Towne Center
Inland Real Estate Corp. (NYSE: IRC) recently acquired a Cincinnati power center. It paid $36 million for Stone Creek Towne Center on Feb. 29, purchasing it through its joint venture with PGGM.
Stone Creek Towne Center is located between Interstate 275 and […]
Investcorp Acquires $65M Mixed-Use Portfolio in California
In the largest transaction to close in the Northern San Francisco Bay Area thus far in 2012, Investcorp has added a 14-property portfolio to its holdings in a partnership with PB&J Acquisitions.
Marcus & Millichap: Recovering Markets to Spike Hotel Activity
A new report by Marcus & Millichap predicts that room demand will grow in the coming year. Driven by increased capital flows and a falling unemployment rate, the national occupancy rate could rise as high as 60.7 percent — a 0.6 percent increase from 2011.
$127M Loan on Cleveland Office Latest Refi Success Story
The $127 million refinance of Harbor Group International’s 200 Public Square office tower in downtown Cleveland is both one of the larger recent CRE refis and an example of the current refi trend.
Economy Watch: Consumer Sentiment Edges Down in February
Consumer sentiment dropped in February, according to a Reuters/University of Michigan poll. The surge in gas prices accounted for most of the uptick in February’s CPI. And manufacturing edged up a little in the first month of 2012.
Local Beer Distributor Buys 96-Acre Tract in St. Petersburg
In one of the largest land sales in the Tampa Bay area in recent years, Great Bay Distributors Inc.—one of Florida’s largest distributors of Anheuser-Busch products—has purchased a 96-acre tract in north St. Petersburg for $9.8 million. The company plans to build a distribution facility and warehouse on the site at some point in the future.
McKinney, Pavilions Land New Tenants, Increase Occupancy Rates
By Georgiana Mihaila, Associate Editor
The historic 1001 McKinney building has experienced a boost in occupancy rate after signing intellectual property law firm Conley Rose as its newest tenant. The 21,001-square-foot lease takes occupancy to 85 percent, considerably higher than the […]
LaSalle Pays $143.8M for DC’s Hotel Palomar
By Adrian Maties, Associate Editor
LaSalle Hotel Properties (NYSE: LHO) announced on March 9 it has acquired the Hotel Palomar in Washington D.C. The real estate investment trust paid $143.8 million for the hotel in an off-market transaction. It is the region’s […]
Xfinity Live! to Open Gates on March 30
By Veronica Grecu, Associate Editor
In less than three weeks, Philadelphians will have access to the city’s newest entertainment complex, a 60,000-square-foot venue that will most likely become a hot spot for sports fans and residents alike. Xfinity Live! was built […]
CREC Finds 10 New Tenants for Orlando-Area Shopping Centers
By Georgiana Mihaila, Associate Editor
Commercial real estate services firm CREC, working on behalf of the owners of five Central Florida shopping centers, has successfully completed 10 new leases totaling a combined 57,200 square feet. The 10 leases—which will bring new […]