News
New Rollins Hotel to Support Higher Education
By Georgiana Mihaila, Associate Editor
The new Rollins Hotel, whose construction is scheduled to start this fall, will be much more than a hotel. Named after the patron family that donated the $12.5 million needed for its construction, the Alfond Inn […]
Ericsson to Occupy Half-Million SF Near Dallas
Just three weeks after closing its $43.1 million acquisition of the former Nortel Networks Inc. Campus in Richardson, Texas, Pillar Commercial has orchestrated two lease agreements that increase the telecommunication company’s occupancy from 200,000 square feet to 460,000 square feet.
D.C.’s Iconic National Press Building Trades for $167.5M
In a partnership with affiliates of AEW Capital Management L.P., Quadrangle Development Corp. has purchased the storied 420,000-square-foot property in the East End submarket of Washington, D.C.
Broker Completes 71,000-SF Renewal
Lockton Insurance Brokers L.L.C. has inked a lease renewal for office space at Ernst & Young Plaza, a 41-story, 915,316-square-foot Class A office building in Los Angeles.
Economy Watch: Case-Shiller, Confidence
The Case-Shiller 20-city index did an odd thing in April, according to the latest report from Standard & Poor’s: It went up by 0.7 percent month-over-month, the first increase since July 2010.
Sabey to Build Data Center
The developer and operator has purchased 38 acres of land for the 490,000-square-foot project in the Dulles Technology Corridor, approximately 30 miles northwest of Washington, D.C.
HFF Arranges Refinancing for D.C. Multi-Family Property
Holliday Fenoglio Fowler L.P. nailed down an $80.5 million loan for Allegro Residences, a 297-unit, Class A mult-housing community in Washington, D.C.
Investcorp Acquires Medical Complex
Investcorp Real Estate has expanded its San Francisco Bay Area holdings via the purchase of the 98,000-square-foot Broadway-Webster Medical Plaza in Oakland.
Economy Watch: Consumers Constrained
It was clearly a nervous springtime for U.S. consumers, since their spending was at its weakest pace since the dim days of the summer of 2009–flat in May, or down 0.1 percent when inflation is taken into account, according to the U.S. Department of Commerce.
Newmark Wins 1 MSF Office Assignment
Newmark Knight Frank has come out on top in a competitive bid to serve as exclusive office leasing agent for New Quincy Center, Street-Works Development L.L.C.’s $1 billion mixed-use project.