Office
International Law Firm Signs as Anchor Tenant for $950M CityCenterDC Project
International law firm Covington & Burling L.L.P.’s search for its new global headquarters in Washington, D.C., has ended with it agreeing to become the anchor office tenant in the $950 million CityCenterDC mixed-use project, signing a letter of intent to occupy approximately 420,000 square feet of space.
SL Green Spends $135M on 215 KSF Midtown South Mixed-Use Building
SL Green has picked up 304 Park Ave. S., a 215,000-square-foot mixed-use office and retail building, from a partnership headed by David Berley, chairman of Walter & Samuels, for $135 million, or $628 per square foot.
Riverbend Project Sent Back to Drawing Board
By Gabriel Circiog, Associate Editor A controversial mixed-use project along the San Diego River has been sent back to the drawing board by the Navajo community planning group, KPBS.org reports. The Riverbend project, proposed on 23.5 acres of land in the Grantville neighborhood, between Mission Gorge Road and the San Diego River, calls for the […]
Arizona Breaks into Top 5 States For Construction Spending: NAIOP
By Alex Girda, Associate Editor A NAIOP Research Foundation report finds that Arizona ramped up commercial real estate development spending in 2011, pumping $4.2 billion into building new space. That total falls short of pre-recession levels, but it was good enough for fifth place, as the state trailed only Texas, New York, West Virginia and […]
Zeller Realty Secures Refinancing for LaSalle Plaza
By Gabriel Circiog, Associate Editor Chicago-based Zeller Realty has secured refinancing for LaSalle Plaza from a unit of Minneapolis-based U.S. Bancorp, U.S. Bank Commercial Real Estate. While terms of the deal were not disclosed, the Minneapolis / St. Paul Business Journal reports the loan is estimated to be worth around $92 million. Located at 800 […]
KBS Expands Salt Lake City Foothold With Gateway Tech Center
By Alex Girda, Associate Editor KBS Realty Advisors has added to its Utah portfolio with the acquisition of Gateway Tech Center, a 198,565-square-foot Class A office building located near the 40-acre Gateway District in Downtown Salt Lake City. Located at 155 North 400 West Street, the five-story Gateway Tech Center was built in 1909 as […]
American Greetings Details Plans for New Headquarters
By Adrian Maties, Associate Editor In May 2011, the American Greetings Corp. announced its intentions to move to a new headquarters in Westlake. A year later, it has finally unveiled the first plans for the $150 million to $200 million project, to be located in Westlake’s Crocker Park. The new world headquarters designs were unveiled […]
Study Shows Phase 1A of the Banks Has $91M Annual Economic Impact
By Adrian Maties, Associate Editor The Banks project is drawing more people to downtown Cincinnati, and the city is already cashing in, according to an economic impact study conducted by the University of Cincinnati Economics Center and released on May 22 by the Banks’ developers: Carter, The Dawson Co. and USAA Real Estate Co. The study […]
TIF Commission of Kansas City Favors Incentives for $142.5 M Towne Center Development
By Gabriel Circiog, Associate Editor The Tax Increment Financing Commission of Kansas City has recommended the approval of incentives for the $142.5 million Towne Center development in Clay County, The Kansas City Business Journal reports. The project, led by Kansas City-based CBC Real Estate Group, calls for over 1 million square feet of retail space […]
$200M Mixed-Use Retirement Development Planned for Munford
By Eliza Theiss, Associate Editor A mile out from Munford in Tipton County, there are 370 acres of farmland poised to be developed into The Village at Green Meadows, a master-planned community. Green Meadows Development Corp. is planning a $200 million mixed-use development consisting of a 55-and-over retirement community and a commercial district. The retirement […]