Regions
Economy Watch: Aging Population to Support Medical Office Demand
The population of people over age 65 is expected to nearly double between 2015 and 2055, which is an encouraging factor supporting long-term demand for medical office space, according to a new CBRE Research report.
Demographic Shifts Pick Up Speed in Orange County
Employment gains, a moderate supply of new development and a high barrier to homeownership have bolstered strong multifamily demand in Orange County, pushing up rents and keeping occupancy over 96 percent.
Beatty Development Promotes 2 VPs
Previously senior development directors, Pula and Flesher have extensive experience in the field and will continue to work on large Baltimore-area projects.
Northwestern Mutual’s New HQ Opens in Milwaukee
The 1.1 million-square-foot project on Lake Michigan will house about 2,400 employees, relocating them from the company’s downtown and Franklin campuses.
SL Green, Vornado Snag $1.2B Refi for Manhattan Tower
The new loan on the 280 Park Ave. office building, now 97 percent leased following its emergence from a sweeping $150 million renovation, replaces the $900 million refinancing secured in 2016.
110 KSF Industrial Asset Trades in Phoenix
SPIRE Real Estate Portfolios, through Nicola Crosby Real Estate, purchased Cabot Business Center in Phoenix. The buyer retained Kidder Mathews as property manager of the industrial/flex asset.
CBRE Expands East Bay Industrial Group
Kevin Hatcher joins as senior vice president of industrial and logistics in Oakland, Calif. He has more than 500 lease and sale transactions in excess of $3 billion under his belt.
DoubleTree Adds Hotel in Thriving NoVa Hub
Located within walking distance of Virginia’s largest shopping mall, the 168-key property is owned and managed by B. F. Saul Company Hospitality Group.
Domain Cos. Expands Into SLC With $110M Project
Construction of the pedestrian- and transit-oriented development, designed by KTGY, is anticipated to begin in fall 2018. The development hopes to help revitalize the downtown, bringing 412 mixed-income units, office and retail space.
Kimmerle Group Boosts Multigenerational Leadership
Robert Kimmerle, son of company founder & president George Kimmerle, has returned to the firm as chief financial officer. He brings more than a decade of experience in financial management and will focus on providing financial and consultative support.