National
Cincinnati Children’s Receives Largest Donation in Hospital’s History
Cincinnati Children’s Hospital Medical Center announced on October 4 it will receive the single largest donation to the hospital since it was established in 1883. Convalescent Hospital for Children will donate $20 million over eight years. The money will be used to expand mental health facilities at Cincinnati Children’s campus in College Hill and long-term and respite care services at the hospital’s Liberty Township campus in Butler County.
HCDA to Review Franco Mola’s Scaled-Back Honolulu Condo Project in January
The Hawaii Community Development Authority will officially unveil the 803 Waimanu St. condominium project in Kakaako in November. According to the Pacific Business News, California-based real estate developer Franco Mola is proposing the construction of a 65-foot, seven-story building with 153 market-priced residences, 30 of which will be slated for reserved housing. Plans also call for 8,477-square-feet of recreation space and ground-floor parking for 92 vehicles.
Statoil to Double Footprint at CityWestPlace, Expand Lease to 581,000 SF
Statoil Gulf Services L.L.C., the U.S. upstream wholly-owned subsidiary of Norwegian energy titan Statoil ASA, entered into a long-term agreement to expand and extend its lease at CityWestPlace, which serves as the company’s North American headquarters.
Wood Partners Breaks Ground on $36M Apartment Project; Walmart Opens Distribution Center in Fort Worth
Wood Partners has broken ground on Alta Maple Station, a $36.3 million luxury apartment project in downtown Dallas.
First Potomac Assumes Control of Redland Corporate Center with $30M Acquisition
First Potomac Realty Trust announced this week the acquisition of Redland I, the third building at Rockville’s Redland Corporate Center. Redland I cost First Potomac $30 million and marks the first acquisition the company completed since late 2011.
Deylen Realty to Develop $10M Apartment Community on Virginia Avenue in Indianapolis
Local developer Deylen Realty is planning the construction of a new apartment complex in the city’s Fountain Square neighborhood southeast of downtown. According to the Indianapolis Business Journal, the $10 million project at 501 Virginia Avenue will replace a warehouse with 68 market-rate apartments, 9,900 square feet of retail space and a 104-space parking garage with 76 underground spaces. The facility is currently occupied by Impact Group Inc.
80K SF FedEx Facility Breaks Ground; 451-Car Parking Opens in Overton Square
FedEx Corp. subsidiary FedEx Express has announced commencing construction on the newest facility at the FedEx Express WorldHub in Memphis: an 80,000-square-foot state-of-the-art temperature controlled facility and heavyweight pickup and delivery operation.
Construction to Begin on New GlenLake Office Building in West Raleigh
Highwoods Properties has announced it would soon break ground on its fourth building at the GlenLake Office Park near Crabtree Valley Mall in west Raleigh. The locally based real estate investment trust expects to invest $35.8 million in the development of the approximately 166,000-square-foot project, which is already 25 percent leased.
Jacksonville Landing Redevelopment Plan Includes Adding Residential Units
Toney Sleiman, president and CEO of Sleiman Enterprises, which owns the Landing, stated that he plans to add residential units as the ownership considers renovating the facility. They are already making small steps toward the goal, first of all studying the property and determining a viable number of units and unit with the help of a consultant. They also ordered a parking study and informed that results should be available this month, according to the Jax Daily Record.
Venture West Awards Marketing of 535-Acre Tucson Business Park to CBRE
The 535-acre business park sits in the heart of Tucson’s bio-science region in Oro Valley. Venture West,who has owned the property since 2007, awarded a team of six CBRE brokerage professionals with the marketing and leasing of the realty.