Regions
MedCraft to Expand MN Essentia Health Facility
The 26,633-square-foot expansion in Grand Rapids, Minn., is slated for completion by May 2018. The partnership minimizes risks, allowing Essentia to reinvest in expanded facility operations.
Litigation Firm Extends Lease in Orange County
Callahan & Blaine signed a lease extension for its office at 3 Hutton Centre in Santa Ana, Calif. Chon Kantikovit, managing director with Cushman & Wakefield’s Irvine office, represented the tenant.
NJ Shopping Center Welcomes First Tenants
CBRE has secured two leases for owner Sun Equity Partners at its newly developed The Greenleaf at Union, a 110,000-square-foot shopping center located in the heart of Union, N.J.
JV Scores Marriott Franchise Agreement for Hotel Development
Bellefield Development and The Shaner Hotel Group will build a soft-branded Residence Inn in Hyde Park, N.Y. The 133-key project will be the first of two hotels set to be constructed on a 339-acre site.
Economy Watch: Internet Sales Keep Climbing
By D.C. Stribling Since the dawn of Internet commerce, seasonally adjusted sales using that platform have moved in one direction: up. That trend continued in the second quarter, the Census Bureau reported on Thursday, with U.S. retail e-commerce sales up 4.8 percent compared with the first quarter. (Unadjusted Internet sales tend to bottom out in the first quarter and peak in the fourth, like all retail sales.) Year-Over-Year Jump As usual, the bureau adjusts for seasonal variation, but not for price changes, which have been fairly modest in recent years. Altogether, second-quarter Internet sales totaled $111.5 billion. That’s also a 16.2…
GGP Starts Renovation of New HQ
The company tapped Skender Construction to renovate its new office at River North Point in Chicago. The project is slated for completion by January 2018.
Novak Construction Delivers New Portillo’s Restaurant
The 9,000-square-foot property was built on the former site of Motel 6 in Normal, Ill., and marks Novak’s sixth development for the retailer.
CBRE Global Buys 25 Medical Office Buildings
The 1.4 million-square-foot, 10-state portfolio will be operated by the seller, a joint venture of Kayne Anderson Real Estate Advisors and MBRE Healthcare.
Presidio Lands $62M Bridge Loan for Napa Valley Hotel
CBRE Hotels’ debt and structured finance team secured five-year financing for the resort, which opened this summer after renovation of an historic property and construction of six new buildings.
Structured Development Plans New Chicago Building
Structured Development plans a mixed-use building in one of the few remaining large sites near the North Branch Industrial Corridor. Construction will begin in the first part of 2018.