National
Hedreen Mega-Hotel Project Clears Another Hurdle
Seattle developer R.C. Hedreen & Co. has been pushing through its initiative of developing a mega hotel project In the city’s downtown. With the Pacific Northwest’s rise to prominence in recent years, the major cities have seen their hospitality stock be reassessed as investors are looking to expand the offering and improve Seattle and Portland’s convention centers, as a means of cashing in on the improving markets. The developer is now one step closer to getting its ambitious hospitality development to light, after the downtown Design Review Board has approved its new designs.
W.P. Carey Buys, Leases Back Air Enterprises Warehouse Facility
A Northeast Ohio industrial property recently changed hands. The Air Enterprises Manufacturing/Warehouse Facility in Streetsboro, Ohio, has been acquired by W. P. Carey Inc., a publicly-traded REIT, for a total price of approximately $7 million.
Garfield Tower in CBD Goes Up for Sale
A Cincinnati apartment tower located in the heart of the city’s Central Business District is now for sale. CBRE has listed the property but did not disclose a sale price.
Architects Convert Church, Apartment Developers Eye New Project in Downtown
The Memphis apartment market has been doing quite well recently, coming off its fourth consecutive year of positive demand, with 1,690 apartments absorbed in 2013 as well as overall rent growth of 1.5 percent
New Hilton Grand Vacations Resort Opens in Honolulu’s Waikiki Beach Walk
On January 28, Hilton Grand Vacations (HGV) celebrated the grand opening of its newest resort, Hokulani Waikiki by Hilton Grand Vacations Club in Honolulu. Mayor Kirk Caldwell and other officials attended the reception hosted by Mark Wang, president of Global Sales and HGV.
Air Liquide to Relocate Corporate HQs to Memorial City
Air Liquide plans to relocate its American corporate headquarters from the Galleria area to the Air Liquide Center, a 20-story, Class A property scheduled to break ground this month in Memorial City.
Granite Properties Gets $73M in Financing for Uptown Office Building
Granite Properties has obtained $73 million in financing for 17Seventeen McKinney, a 19-story, Class AA office property in Dallas.
Resmark to Bring Luxury Condos to Washington Area
The Resmark Companies is working hard to bring luxury condos to the Washington D.C. area. The Los Angeles- based full-service real estate investment advisor has partnered with two local developers to develop two different projects in downtown Bethesda and the desirable Dupont Circle neighborhood.
Inland Empire Power Center Trades Hand in $49 Million Deal Arranged by HFF
An Inland Empire retail property traded hands recently, with Holiday Fenoglio Fowler announcing that it had closed a deal for an asset located in Jurupa Valley. The leading provider of commercial real estate and capital markets services completed the acquisition of the Vernola Marketplace by a joint venture consisting of Rockwood Capital, Equity One, Inc. and Vestar, three high-profile real estate companies in the U.S. The JV paid a fee of $49 million for the shopping venue.
Renovation and Rebranding Announced for Holiday Inn New York City Midtown
The existing Holiday Inn hotel located at 30-32 West 31stStreet in New York City’s Midtown District is set to be converted into a new Hyatt-branded hotel, as Chesapeake Lodging Trust appointed a Hyatt affiliate to oversee the $6 million renovation and rebranding process.