National
Cole Corporate Income Trust Inc. Acquires Five Corporate Properties
The private capital management business of Cole Real Estate Investments Inc., Cole Capital recently announced the acquisition of five single-tenant corporate properties by Cole Corporate Income Trust Inc. The combined price of the acquisitions, which includes two properties in San Jose, one in St. Louis, Houston and Colorado Springs was around $202.1 million.
709-Unit Luxury High-Rise Opens in Long Island City
Manhattan-based Rockrose Development Corporation officially opened its newest signature residential high-rise in the Long Island City neighborhood of Queens, where real estate experts predict a veritable housing boom in the next few years.
Skanska to Start Construction on $57 Million Academic Building for Harvard Business School
Details of one of the key projects outlined by Harvard University in its revised 10-year Institutional Master Plan (IMP) that was approved by the Boston Redevelopment Authority this fall were recently revealed.
Two Howard County Apartment Communities Sold for $68M
Two apartment complexes in Howard County have recently changed hands, with an aggregate sale price of about $68 million. Together, Elkridge’s Belmont Station and Laurel’s Ashbury Court Apartments offer 348 units.
Vacant Warehouse in South Kensington to Become Mixed-Use Building
A Philadelphia-based real estate company has plans to transform the former truck repair facility at 1601-23 N. Front Street into a more entertainment-oriented space.
2015 Opening Planned for Ace Hotel in Pittsburgh’s East Liberty
Plans for the $23 million conversion of the former East Liberty YMCA building into an Ace Hotel are moving forward. According to the Pittsburgh Post-Gazette, the city’s Urban Redevelopment Authority has recently approved a $75,000 facade grant for the upcoming 63-room hotel at 120 S. Whitfield St., which will include a restaurant, a ballroom and a fitness center. Construction will also be financed through $11.5 million in new markets tax credits.
Nordstrom to Open New Store in Strong Nashville Retail Market
Nordstrom Inc., the popular Seattle-based retailer has announced plans to open a new Tennessee location in the affluent Nashville suburb of Brentwood.
Oxford Development Plans 299-Unit Apartment Community in the Strip District
A 299-unit apartment complex is slated to rise on the Allegheny riverfront in Pittsburgh’s Strip District. According to the Pittsburgh Post-Gazette, Oxford Development Co. is proposing the construction of a mix of one-, two- and three-bedroom units on four acres of land between 26th and 27th streets.
PHH Ventures Partners Lease Aztec Theater, with Plans to Redevelop It
After the successful collaboration at transforming Sam’s Burger Joint into a live music venue, Sam Panchevre and Keith Howerton, partners at PHH Ventures Entertainment LLC, have signed a multi-year lease with Baron Theodore Bracht for the 87-year old historic Aztec Theater. The property, located at 201 E. Commerce Street, will undergo renovations that will transform the theater into a concert venue capable of accommodating mid-sized touring acts.
Tiffany’s, H&M Open in French Quarter
New Orleans, the city that not so long ago had one of the biggest shortages of retail in the nation, just keeps adding retail options. From big-box retailers such as Walmart to affordable fashion icon H&M to luxury retailers, such as Tiffany’s, everybody seems to want to set up shop in the Big Easy