News
USAA, Overton Moore to Develop 523 KSF Inland Empire Industrial Facility
To capitalize on the need for industrial space, USAA Real Estate Co. has acquired 26 acres of land in Moreno Valley, Calif., that will be the future site of a 522,772-square-foot distribution center. Southern California-based Overton Moore Properties will act as developer for the project.
Parmenter Picks Up 202 KSF Houston Tower from KBS
Houston continues to outperform most of the nation in transaction volume, and Parmenter Realty Partners has just picked up the 201,720-square-foot Class A tower at 2200 West Loop South from KBS Real Estate Investment Trust for an undisclosed price.
Carlson Real Estate Engages Eastdil Secured for 5.5 MSF Portfolio
Carlson Real Estate Co. has engaged investment banking firm Eastdil Secured to “assist in reviewing and evaluating strategic alternatives” for CREC’s 5.5 million-square-foot real estate investment portfolio in Minnesota, Arizona and North Carolina.
Economy Watch: Payroll Tax Cut Extension Closer to Vote
The payroll-tax cut is set to expire at the end of February, and Congress is set to quarrel on an additional extension. A home-remodeling index indicates that activity has picked up this winter, which is a good sign. And drama over Greek debt continues.
W.P. Carey Closes on BCBS Portfolio Sale-Leaseback
By Gabriel Circiog, Associate Editor Blue Cross and Blue Shield of Minnesota has sold its six-building headquarters campus in Eagan to investment firm W.P. Carey & Co. The New York-based investment management company announced closing on sale-leaseback financing with the entity through CPA:17 – Global, a publicly held non-traded REIT affiliate. The transaction also included […]
Éilan Hotel Opens its Doors; CPS Energy Acquires Office Complex
By Camelia Bulea, Associate Editor
The 165-room Éilan Hotel opened its doors on Feb. 1, the first part of a $400 million plan to bring a new level of luxury to San Antonio. The hotel also includes a 10,000-square-foot fitness center, […]
Behringer Harvard, Hillwood Add High-End M-F Phases
By Camelia Bulea, Associate Editor
The second phase of the Allegro II residential development has recently broken ground. Behringer Harvard, the developer of the luxury apartment community, bought the housing community in December 2010.
The second phase will be adjacent to the […]
Six Flags May Become Upscale Mall; Lakefront Airport to Add New Hangars
By Amalia Otet, Associate Editor
Proposals for the redevelopment of the Six Flags site have been narrowed down from eight to one: A plan to turn the shuttered amusement park into an upscale outlet mall is still under consideration. The project […]
$40M Lincoln Electric Expansion to Bring 200 Jobs to Euclid
By Adrian Maties, Associate Editor
The city of Euclid is about to receive a boost: Lincoln Electric plans a $40 million expansion to its local facility. The project is expected to bring 200 welding jobs into the area over the next […]
First Phase of Smale Riverfront Park to be Completed as Planned
By Adrian Maties, Associate Editor
Parks in Cincinnati today occupy more than 5,000 acres, about 10 percent of the city’s total land area. That area is about to grow. With 70 neighborhood parks and 34 nature preserves already in the system, […]