News
Economy Watch: Existing Home Sales See December Rise
Existing home sales rose 5 percent month-over-month in December, according to the NAR. The Economic Cycle Research Institute raised its index to the highest level since August. And investors will have to be persuaded to take a haircut for Greece’s bailout to move forward.
Residential Developers and Brokers Set their Sights on Brooklyn
By Veronica Grecu, Associate Editor
Citing a recent report by real estate consultant Nancy Packes, The Wall Street Journal reveals that developers are eying Brooklyn as a potential real estate mecca. Manhattan is no longer a preferred option for new housing […]
$1.6 Billion Redevelopment in Downtown Quincy
By Veronica Grecu, Associate Editor
Quincy’s historic downtown is set to undergo complex redevelopment by a joint venture between White Plains, NY-based Street-Works Development, a company that specializes in urban redevelopment projects, and local real estate developer The Beal Cos. After […]
Miramar Park of Commerce Lands 1M Sq Ft Worth of Leases in 2011
By Georgiana Mihaila, Associate Editor
Miramar Park of Commerce prides itself on over one million square feet of space leased in 2011 with 60 percent of new tenants coming from healthcare related companies. The healthcare and biotech company surge in the Park […]
Six Georgia Nursing Facilities Part of $174M Purchase
By Georgiana Mihaila, Associate Editor
Griffin-America HealthCare REIT II—formerly known as Grubb & Ellis Healthcare REIT II—has recently acquired 10 skilled nursing facilities and one medical office building for approximately $174.3 million.
The facilities, sold by affiliates of Wellington Healthcare Services, LP, […]
Hines Signs 15-Year Lease at La Jolla Commons Campus
By Gabriel Circiog, Associate Editor The San Diego office of international real estate firm Hines has recapitalized its 12.3-acre premier mixed-use La Jolla Commons campus. Hines also executed a 15-year lease for a new 415,000 square foot office building which will be built on the campus located in San Diego’s University Towne Centre area. The […]
DST Plans to Redevelop the Lyric Theatre into a Federal Training Facility
By Gabriel Circiog, Associate Editor The Lyric Theatre could be redeveloped into a federal training facility after the Kansas City Council passed a request for $27 million tax increment financing. However, the Kansas Business Journal reports that the Federal Aviation Administration has not yet decided where to move its Center for Management and Executive Leadership, currently […]
Morgan Keegan Deal Expected to Close During First Quarter of 2012
By Amalia Otet, Associate Editor
Regions Financial Corp. has entered into a stock purchase agreement to sell Morgan Keegan & Co. Inc., its Memphis-based investment unit, to Raymond James Financial Inc., for $930 million. The transaction is expected to close during the first quarter, subject to regulatory approvals and customary closing conditions, according to a company […]
Turner Construction to Occupy Space in SouthPark; Ballantyne Development Moves Forward
By Amalia Otet, Associate Editor
Turner Construction Company plans to relocate from its current location at 5955 Carnegie Boulevard to the Roxborough Building in Charlotte’s SouthPark neighborhood, in which it will occupy 20,022 square feet on the fourth floor. Built in […]
Apartment Conversion Planned for Baltimore’s Tremont Plaza Hotel
By Adrian Maties, Associate Editor
Responding to the growing demand for more apartments in downtown Baltimore, William C. Smith & Co. Inc. announced plans to convert the Tremont Plaza Hotel’s 390 luxury suites into apartments and long-term guest suites. Tenants will […]