News
Glimcher, DDR Swap $80M, $139M Assets in Columbus, Kansas City
In an interesting move, Glimcher is selling the Columbus, Ohio-based Polaris Towne Center for approximately $80 million, and DDR is unloading the Town Center Plaza in Kansas City for around $139 million – with the buyers being each other.
Economy Watch: Beige Book Finds Economy Soft, but Not Quite Comatose
The latest Beige Book painted a picture of a lukewarm U.S. economy. Green Street Advisors reported that its Commercial Property Price Index rose 1 percent in August. And, as expected, the German courts said the country’s participation in the EU bailout is indeed constitutional.
Red Hat Negotiates to Sublease Downtown Building
by Liviu Oltean, Associate Editor
Red Hat Inc. is currently in negotiation with Progress Energy Inc. for a sublease of the downtown building, Two Progress Plaza. The building was leased by Progress Energy for a 30-year term in 2004, and will […]
Companies Initiate Bulk Sales of Office Portfolios in the Triangle
By Liviu Oltean, Associate Editor
In an attempt to increase industrial and medical office assets, various companies in the Triangle have started to sell their office portfolios. Duke Realty, an Indianapolis-based company, listed for sale six buildings that represent about 12 […]
Market Square Place’s Occupancy Rate Hits 100%
by Liviu Oltean, Associate Editor
Millcraft Industries has recently announced the securing of the second Noodles & Co. location in Pittsburgh for the mixed-use redevelopment, Market Square Place. In addition, Herky Pollock, EVP for CB Richard Ellis, confirmed that Market Square’s […]
Turtle Bay Resort Downsized Its 1985 EIS
by Liviu Oltean, Associate Editor
After the Hawaii Supreme Court’s ruling that Turtle Bay Resort must update their environmental impact statement (EIS) approved in 1985, Turtle Bay Resort has filed a supplemental environmental impact statement preparation notice (EISPN) on August 23, […]
Hawaiian Dredging, Inc. wins a $54.5 million contract with Marine Corps
by Liviu Oltean, Associate Editor
Hawaiian Dredging Inc. recently won a $54.5 million contract with the Naval Facilities Engineering Command (NAVFAC Hawaii). The company will oversee the design and construction of billets sustained by the Grow the Force initiative at the […]
$93M Refi for Mixed-Use D.C. Apartments
Vaughan Place at McLean Gardens, a 389-residence mixed-use apartment complex in Washington, D.C., has been refinanced to the tune of $93 million, courtesy of a loan provided by Walker & Dunlop Inc.
AREA, Adler Group Close First Phase of $350M Portfolio Purchase from WRIT
AREA Property Partners and Adler Group, acting together in a joint venture as AP AG Portfolio L.L.C., have completed the first step in acquiring a 3.1 million-square-foot portfolio of office and industrial properties from Washington Real Estate Investment Trust.
Charles Dunn Snaps Up $50M Pacific Financial Center in Downtown L.A.
In a process that attracted more than 15 bidders, the 17-story Pacific Financial Center was purchased by Walter J. Conn, chairman of Charles Dunn Company, for $50 million.