National
Apartments and Retail to Replace Vacant Bowling Alley in Dorchester
Phoenix-based Lucky Strike Development is planning to enliven the former Fields Corner bowling alley in South Dorchester which was closed in 2007 after serving the neighborhood for five decades.
Transwestern Hired to Sell Two Apartment Communities in Anne Arundel County
Two apartment apartment communities in Anne Arundel County are now on the market. Together, they offer over 450 units. Transwestern’s Bethesda, Md.-based Mid-Atlantic Multifamily Group has been named as exclusive agent for the sale of both properties.
FedEx Ground Plans $175 Million Massive Distribution Center in Lehigh Valley
Just before the end of 2013 a large shipping company submitted plans for a 1.3-million-square-foot package sorting center in Allen Township, in Pennsylvania’s Lehigh Valley region. The project was filed with the Lehigh Valley Planning Commission by Moon Township, PA-based FedEx Ground, a subsidiary of the FedEx Corporation that serves businesses and retailers deliver merchandise to customer in up to five days.
TechTown Opens Junction440 as Shared Work Space for Entrepreneurs
TechTown Detroit, a non-profit business incubator and accelerator based in Midtown within the Woodward Technology Corridor SmartZone, seized this opportunity and recently opened a new co-working space designed for entrepreneurs seeking an affordable, flexible and active work environment.
Walnut Capital to Begin Construction on New Office Building at Bakery Square 2.0 This Spring
Walnut Capital Partners is planning to break ground on the first office building of its approximately $100 million Bakery Square 2.0 mixed-use development in East Liberty this spring. According to the Pittsburgh Business Times, construction on the six-story, 216,000-square-foot facility is expected to begin in March and be complete in 18 to 24 months. The Pittsburgh Planning Commission is currently reviewing the developer’s proposal.
Southern Land Scales Down Project, Moves Ahead With 16 Stories
Nashville-headquartered Southern Land Co. has announced it will be moving forward with its mixed-use Green Hills project, albeit in a scaled down version
AEW Buys Renton Shopping Center from Pearlmark Harvest Lakeshore in Blockbuster Deal
A massive retail transaction was recently completed for a large Renton property in a deal worth approximately $165.4 million. A unit of Boston-based investment fund AEW Global purchased the The Landing shopping center from its now former owner and developer Pearlmark Harvest Lakeshore. Following the transaction, management duties for The Landing will continue to be carried out by JSH Properties.
Marcus & Millichap Arranges Sale of North Olmsted Towne Center for $17.8M
Large retail properties in the Greater Cleveland area have seen a lot of action in the final quarter of 2013. Recently, Devonshire REIT, Inc. has paid $8 million for the Great Lakes Plaza in Mentor, while the Starwood Capital Group has acquired two shopping centers in North Olmsted and Canton, as part of a $1.6 billion, seven-property portfolio.
KBS Strategic Opportunity REIT Buys Orlando’s Maitland Promenade II for $31.2M
Maitland Promenade II, a Class-A office building in Orlando’s Maitland Center submarket changed hands at the end of 2013. It was purchased by KBS Strategic Opportunity REIT for $31.2 million plus closing cost. The Newport Beach, California-based public non-traded real estate investment trust announced the acquisition on December 30.
Holiday Inn Express Hotel Mountain View – S Palo Alto Opens Following $1M Renovation Project
InterContinental Hotels Group has recently added a new hotel to its portfolio in the Mountain View and Palo Alto areas. The Holiday Inn Express Mountain View S Palo Alto opened at the end of the year after a more than $1 million renovation project.