News
BRAC Activities Spur JV Plan for 4.5M-SF Business Park in Huntsville, Ala.
To accommodate the impending space requirements near the U.S. Army’s Redstone Arsenal in Northern Alabama, Columbia, Md.-based Corporate Office Properties Trust has created a joint venture with Montgomery, Ala.-based real estate concern Jim Wilson & Associates L.L.C. to develop the 4.6 million-square-foot Redstone Gateway business park in Huntsville.
Economy Watch: Florida Condo Project Taps Pent-up Demand
If the experience of a recent non-foreclosure residential property auction in Florida is an indication, there’s pent-up demand for properties out there, at least for well-located and even upscale properties. The trick is figuring out a way to tap the demand in spite of hesitation among buyers who have the wherewithal to buy.
Analysis: WTC Deal Ties Buildout to Market Conditions
Thursday’s landmark deal breaking the long deadlock over the financing of the World Trade Center redevelopment provides for flexibility in the face of Manhattan’s uncertain office market.
Healthcare Trust Snaps Up $45M MOB Portfolio
Healthcare Trust of America has just laid down $45 million for a five-building, 260,500 square-foot medical office portfolio in Evansville and Newburgh, Inc.,
New Legislation Sparks Plan for $300M Hard Rock Casino in Atlantic City
Forming a strategic alliance with New York-based private equity fund Och-Ziff Real Estate, Orlando-headquartered Hard Rock International is making a move to get in on the ground floor of new gaming opportunities that may ultimately arise from the introduction of new legislation in New Jersey this week.
KBS REIT Buys Three Buildings Totaling 283,559 SF
KBS REIT II has added three Class A industrial/flex space buildings totaling 283,559 square feet to its portfolio. All three buildings are located at the Plano Business Park in Plano, Tex., 19 miles north of downtown Dallas.
WTC Agreement Receives Praise
A New York state assemblyman and congressman both hailed the agreement that will see two new skyscrapers constructed on Ground Zero.
JetBlue Renews its Commitment to NYC and Soaks Up 200,000 SF of Sublet Space
After surveying various locations across the country, JetBlue Airways has decided to stay put in New York and consolidate its area headquarters space via a new 200,000-square-foot sublease at the Brewster Building in Long Island City, Queens.
Trio Buys Majority of Fire Island Commercial District for $17M
Famed gay community destination Fire Island Pines, N.Y., has seen its largest transaction in history. Investment group FIP Ventures has bought the vast majority of Fire Island commercial property and establishments for $17 million.
Economy Watch: Chinese Investor Buys LA Hotel at Serious Discount
Some real estate investors still seem to believe in the future of the United States — and the U.S. hotel market in particular, which has taken more of a drubbing than other properties types since the recession began.