News
Cushman: Global CRE Investment Rose 14 Percent in 2011
According to services firm Cushman & Wakefield Inc., global property markets saw a stronger-than-expected end to 2011, with all regions experiencing robust demand for well-let assets. Activity worldwide increased by 14 percent, hitting the $808 billion mark — an increase of 83 percent from the lows of 2009.
BPG Acquires Scottsdale Office Complex for $34M
Private-equity real estate fund manager BPG Properties Inc. has acquired the 223,605-square-foot, Class A Lincoln Towne Center in Scottsdale, Ariz., for $34.3 million from Lincoln Life Insurance Co.
Jones Lang LaSalle Chosen by Howard Hughes Medical Institute as Facilities Manager for D.C.-Area Research Center
The Howard Hughes Medical Institute has selected Jones Lang LaSalle to provide facilities management at its 689-acre Janelia Farm Research Campus in Loudoun County, Va., about eight miles north of Dulles International Airport.
Economy Watch: Economy Growing, but Not Gangbusters
The latest Beige Book found that, while the economy is growing, it’s not growing very quickly. And during the report’s release, Bernanke made no hints to Congress regarding QE3. Restaurant owners reported the third consecutive month of expansion.
Developers and City Leader Focus on ‘Aerotropolis’
By Gabriel Circiog, Associate Editor
Developers and city leaders are drawing up plans for an “aerotropolis” around Denver International Airport, as reported by the Denver Post. City leaders have kept a watchful eye on the vast amount of land surrounding DIA and have been analyzing development prospects for a long time. Now, plans are materializing and Mayor Michael […]
150 N. Michigan Up for Sale; Legacy at Millennium Park Wins ‘Best in Living’ Award
By Gabriel Circiog, Associate Editor
The 150 N. Michigan office tower could soon get a new owner on top of the new name it is set to receive in March, Chicagorealestatedaily.com reports. Germany-based SEB Asset Management A.G. bought the 41-story office building in 1999 for around $113.2 million. Recently, the fund manager hired Chicago-based Jones Lang […]
Marcus & Millichap Hired to Market $1B Mixed-Use Apopka Development
By Georgiana Mihaila, Associate Editor
Last week, Marcus & Millichap Real Estate Investment Services was hired to sell the $1 billion Kelly Parks Crossings, which would be the largest development ever to rise in Apopka.
Paul Bouldin, a senior associate in the Tampa […]
CommUnityCare and North Forest to Develop 85,000 square feet of Medical Space in Pflugerville
By Camelia Bulea, Associate Editor
North Forest Office Space, a New York-based developer, is currently expanding throughout the country and planning to launch the first phase of its first Austin-area project.
According to the Austin Business Journal, the company has begun developing […]
Transwestern Takes 230 KSF Management Contract from Seagis
The South Florida office of Transwestern has added 230,000 square feet of Miami-area industrial space to its responsibilities, courtesy of a new leasing assignment from Seagis Property Group L.P.
AREA Property Partners Takes 1,180-Unit Virginia Apartment Complex
AREA Property Partners, after targeting the Alexandria, Va., area late last year for apartment buys, is back in the area. The firm has purchased the city’s EOS 21, a 1,180-unit community, for an undisclosed price.