News
Economy Watch: Consumer Borrowing Up – but Not the Plastic Kind
U.S. consumer credit increased at an annualized rate of 3.75 percent in October. The U.S. banking industry is looking to shed domestic office space while expanding internationally. And Congress is still dithering over whether or not to prolong the cut in payroll taxes.
Twin Cities Multi-Family Projects Proliferate
By Gabriel Circiog, Associate Editor
The Twin Cities region is in a full-on apartment development boom. Two new apartment complexes have been completed and already have their first residents, while local developer Michael Lander plans three apartment projects, Finance & Commerce […]
Hines Takes Top Spot with Major Lease Renewal at Shell Plaza
By Georgiana Mihaila, Associate Editor
The Houston office of international real estate firm Hines landed what is considered to be this year’s largest office lease in the world, renewing Shell’s lease at One Shell Plaza and Two Shell Plaza for a […]
Beacon Capital Buys Tampa’s SunTrust Building for $82M
One of the most recognizable buildings on Florida’s Gulf Coast has recently traded for a reported $82 million. According to the St. Petersburg Times, the 36-story SunTrust Financial Center sold for more than $30 million less than it went for back in 2007, when Charter Hall Office REIT and Stiles Corp. purchased it for $114 million.
Mitsui Fudosan America to Buy Majority Stake in D.C.’s Homer Building
By Adrian Maties, Associate Editor
Mitsui Fudosan America Inc. (MFA), the U.S. subsidiary of Japan’s largest real estate company, Mitsui Fudosan Co., will pay $315 million, or about $746 per square foot, for ING Office Fund’s 80 percent stake in 601 […]
KBS REIT Purchases 729 KSF Office Portfolio in Suburban Dallas
KBS Strategic Opportunity REIT Inc., a REIT sponsored by KBS Capital Advisors, along with a joint-venture partner, has recently acquired a 729,000-square-foot office portfolio in Richardson, Texas.
L&B Realty Advisors Buys 304-Unit Multi-Housing Community; Ascend Real Estate Group Plans Mixed-Use Building
By Gabriel Circiog, Associate Editor
HFF (Holliday Fenoglio Fowler L.P.) recently closed the sale of a 304-unit luxury multi-housing community in Chicago’s River North neighborhood. The 25-story community, 77 West Huron, was marketed on behalf of the seller, Archstone. L&B Realty […]
Wal-Mart to Build Four New Supercenters in Austin Metro
By Camelia Bulea, Associate Editor
Central Texas shows healthy retail market signs as Wal-Mart is developing heavily in the area. After the groundbreaking of a new 120,000-square-foot building that will replace the existing store in Lockhart, Wal-Mart announced the development of […]
StonebridgeCarras, Northwestern Mutual JV for $200M Mixed-Use Development
StonebridgeCarras and PN Hoffman’s massive $200 million mixed-use project in Bethesda, Md., has gotten a big financial boost with the partners’ formation of a joint venture with Northwestern Mutual.
Marcus & Millichap: Inland Empire Apartment Market to Prosper
California’s Inland Empire, an area hit particularly hard by the Great Recession and its aftershocks, is seeing an intensification of demand for rental properties, according to a new report by real estate investment specialist Marcus & Millichap.