News
Houston Club Building Faces Uncertain Future After Skanska Purchase
By Georgiana Mihaila, Associate Editor
Swedish construction giant Skanska has acquired Downtown’s Houston Club Building for an undisclosed amount. The building has been serving as home to The Houston Club, one of the city’s most prominent organizations, for nearly 60 years.
The […]
Mission Bay Gains Police HQs; Palo Alto Street Named Most Expensive for Office
By Alex Girda, Associate Editor
The city is on its way to getting its first Mission Bay-located civic building. Groundbreaking has recently taken place on a new headquarters for the San Francisco Police Department, which will also house neighborhood police and […]
ARC Healthcare Purchases Three Properties for $60.9M
Acting through its sponsor, American Realty Capital V L.L.C., American Realty Capital Healthcare Trust Inc. has completed the initial phase of its $257.5 million acquisition of a 12-property portfolio of high quality income-producing healthcare facilities.
Global Report: Housing Markets Grim in U.S., U.K.
Bad news seems to beget more bad news. According to a new report by the Royal Institution of Chartered Surveyors, housing demand in the United States and in the United Kingdom is falling short of both expectations and hopes.
Economy Watch: IMF Says World Economy on Knife-Edge; Housing Starts in the Mire
The IMF released two reports, each describing how things could get worse in a hurry. According to the Census, housing starts dropped in August. And Bernanke has unveiled a new plan for short- and long-term T notes.
CBRE Facilitates 2.1 MSF Industrial Portfolio Sale
CB Richard Ellis just completed the sale of a seven-asset, 2.1 million-square-foot national portfolio consisting of 10 buildings throughout Georgia, Michigan, Minnesota, Ohio and Texas.
Highwoods Picks Up Pittsburgh’s PPG Place for $214.1M
Highwoods has purchased Pittsburgh’s 1.5 million-square-foot PPG Place for $214.1 million, snapping it up from Market Associates L.P., an affiliate of The Hillman Co.
California’s Great America Amusement Park to Trade for $70M
Cedar Fair, owner of California’s Great America in Santa Clara, Calif., has signed a deal to sell the amusement park to JMA Ventures L.L.C. in an all-cash transaction. The active property owner will pocket $70 million on the deal.
125 KSF Lease by MSCI Brings 7 WTC to Full Occupancy
Slightly more than a week after the tenth anniversary of 9/11, the World Trade Center site has achieved another milestone: The first completed tower, 7 WTC, has reached full occupancy with the signing of MSCI Inc. to a 125,000-square-foot lease.
Iconic Wrigley Building Sold to BDT Capital, Groupon Co-Founders
In a move as noteworthy for its investors as for its property, the Wm. Wrigley Jr. Co. announced that it sold Chicago’s iconic Wrigley Building to a consortium of investors for an undisclosed amount.