National
Paramount Lodging Advisors Closes Sale of 118-Key Memphis Hotel
Paramount Lodging Advisors (PLA) completed the sale of the 118-key Drury Inn & Suites Northeast Memphis on behalf of DSW Inns, LLC, announced the hospitality industry-centric brokerage and advisory firm.
Sears Building in Boyle Heights Trades Hands for $29 Million as New Owner Takes Charge of Redevelopment Hot Spot
One of downtown L.A.’s landmark buildings recently traded hands and is set for a change of direction for its use. The Sears Roebuck & Co building, one of the most high-profile structures in the entire Boyle Heights neighborhood, was purchased by residential developer Izek Shomof for a total fee of approximately $29 million. The building was previously owned by MJW Investments, an entity that has owned the asset for the past nine years. The property was previously the focal point of a massive redevelopment project that has since tanked.
Crescent Central Station to Be Built by Winter Park Construction
With pedestrian connectivity to LYNX and the highly anticipated SunRail commuter rail service, a linear park and a pedestrian plaza nearby, Crescent Central Station will be Downtown Orlando’s first truly transit oriented development. Crescent Communities picked Winter Park Construction to construct the luxury urban infill, mid-rise/mixed-use project.
Cobb County Approves Home of the Braves
The Cobb County Commission gave green light to the Atlanta Braves stadium signing a Memorandum of Understanding with the team at its meeting on Tuesday, 26 November. The arena is only the jewel in the crown as it will be surrounded by a mixed use development including between 700,000 and 1 million square feet retail, restaurant, residential, hotel and office space – all privately funded 100 percent by the Braves, and other private partners.
Surfside Town Hall Offers EV Charging Point
Electric vehicle owners may never again run out of juice in Surfside as Car Charging Group, Inc. announced a new partnership with the Town of Surfside. The nationwide provider of EV charging services set up its charging station two blocks from the beach at 9293 Harding Avenue, behind the town’s Community Center.
Investcorp Acquires University Village & University Estates in Austin
Investcorp, one of the prominent providers and managers of alternative investment products headquartered in New York, announced the acquisition of several residential properties in separate transactions, in Austin, Chicago and Las Vegas. The amount paid for all transactions was approximately $270 million.
Lincoln Harris Eyes 480KSF Office Project, Amid Strengthening Market Fundamentals
Charlotte-based Lincoln Harris has announced plans to develop 480,000 square feet of office space on the former Maersk site in SouthPark, according to a report by the Charlotte Business Journal. Dubbed the Capitol Towers at Carnegie due to design and architecture evocative of Washington D.C., as well as the site’s location on the corner of Carnegie Boulevard and Congress Street, the project is expected to break ground by June 2014.
$180 M Office Transaction Announces Hong-Kong Investor Great Eagle Holdings’ Arrival to Bay Area Market
It’s been a fruitful few weeks for the San Francisco office market, and it recently got even better with the completion of a major off-market office deal. Foreign capital has elevated its presence in the area’s investment market recently and with the acquisition of the 123 Mission St. asset, Hong Kong-based investor, Great Eagle Holdings has made quite the splash.
$108M Wind Energy Research Facility Dedicated by Clemson University
Clemson University has dedicated the SCE&G Energy Innovation Center, a globally unique energy systems research and testing facility, in a ceremony attended by an international audience of more than 1,000 people, among which were elected representatives, industry executives and U.S. Department of Energy officials, including U.S. Deputy Secretary of Energy Daniel Poneman.
Ivanhoé Cambridge Adds 1.4 MSF of Office Space to West Loop Portfolio
Ivanhoé Cambridge recently announced that it has expanded its Chicago office portfolio by acquiring twin office buildings 10 and 120 South Riverside Plaza, in partnership with Callahan Capital Properties.