News
Kennedy Wilson Closes $111M Purchase of Three L.A.-Area Buildings
Kennedy Wilson has completed the second phase of a $143 million Los Angeles-area office portfolio with the closing of the purchase of three of the five assets for a total of $111 million for an aggregate 500,000 square feet.
Fifield, Wood Partners Break Ground on $175M K2 Tower in Chicago
It’s been seven years since the K Station development began construction in Chicago, but now developer Fifield has joined with Wood Partners to begin construction on the development’s fifth building: the 34-story K2.
Why Blackstone’s $1.1B Bet Goes Against the Grain
The Blackstone Group’s $1.1 billion acquisition last week of a suburban office portfolio from Duke Realty Corp. challenges conventional wisdom on multiple fronts — and departs from the standard approach of grabbing core office product in a handful of markets.
Northbridge Breaks Ground on 110-Unit Assisted-Living Project Near Boston
The Northbridge Cos. has just broken ground on Stonebridge at Burlington, a 110-unit assisted living and memory care community on nine acres in Burlington, Mass., approximately 20 miles north of Boston.
Economy Watch: Euro-Zone Agreement Still Elusive
Euro-zone officials met in Brussels over the weekend to make progress on the question of national debts. The U.S. might be facing another credit downgrade, according to a Bank of America report. And new data shows that $69 billion has been lost domestically since 2007 on bad mortgages.
Carpenter Technology Selects Alabama for New $500M Manufacturing Facility
Carpenter Technology Corp. has a site near Athens, Ga., as the future home of a $500 million, 400 million-square-foot manufacturing plant that will serve its clients in the aerospace and energy sectors.
NuStar Finds New Office at Brooks City-Base
By Camelia Bulea, Associate Editor
NuStar Energy will lease 15,500 square feet of office and lab space at Brooks City-Base. That follows its recent plans to lease 2,500 square feet of laboratory space for a $41 million refinery, as reported by […]
Hyatt Regency New Orleans to Reopen after $275M Rebuild
By Amalia Otet, Associate Editor
One of the city’s landmark hotels, Hyatt Regency New Orleans, will re-open its doors Oct. 19 as the anchor of the vibrant Sports and Entertainment District.
Opened in 1976, a year after the Superdome, the hotel was […]
JV Plans $64M Makeover of Cleveland’s Crowne Plaza
By Adrian Maties, Associate Editor
Optima Ventures and Sage Hospitality partnered to buy downtown Cleveland’s second-largest hotel, The Crowne Plaza Cleveland City Center. The joint venture paid $9 million cash for the 472-room hotel and parking garage, and plans to invest […]
Brent Spence Bridge Replacement Awaits Funding
By Adrian Maties, Associate Editor
Plans for replacement of the Brent Spence Bridge have been much discussed during recent years, but funds needed to finance the massive project have yet to be identified. The project gained national attention, however, after President Obama’s […]