National
Hollywood-like Entertainment and Retail Complex to Replace The Met Hotel in Troy
Met Hotel Partners LLC, a subsidiary of Laguna Beach, CA-based New California Hotel Corporation and owner of the former Northfield Hilton Hotel in Troy, and Park Avenue Investments LLC are planning to bring a taste of sunny California in a suburb located just a half-hour’s drive north of Detroit.
Nashville Office Transactions Flirt with Nine Figure Prices
Nashville’s office market has experienced quite a flurry of activity recently. Things really heated up with the $152 million sale of the 520,000-square-foot The Pinnacle at Symphony Place and stayed hot with news of further large-scale office acquisitions.
Baptist Memorial Health Care Corp. Expands in the Greater Memphis Area
Baptist Memorial Health Care Corp. continues its expansion. A $14.7 million permit application was recently filed by Duke Realty Corp. for Baptist Memorial new rehabilitation facility
Drugstore to Anchor Retail Component at Pulliam Square in Downtown Indianapolis
TWG Development LLC, formerly known as The Whitsett Group, is planning to open a drugstore at Pulliam Square, the mixed-use redevelopment of the former Indianapolis Star headquarters in downtown Indianapolis. According to the Indianapolis Business Journal, the developer has asked the city for a variance that would allow for a drugstore drive-through at the site. A decision is expected by October.
Wedgwood Senior Living Community Sold to Out-of-State Investor
Wedgwood Apartments, the North Central senior apartment community located at 6701 Blanco Road, has changed owners. The property is easy to reach from Loop 410 and U.S. Highway 281 and close to much of what San Antonio has to offer.
$157 Million Luxury Building Underway in Queens; Continuum Announces Harlem’s Tallest Residential Project
The World-Wide Group, a New York City-based development company that has developed over $3 billion worth of premium residential properties in Manhattan over the past five decades, recently broke ground on a $157 million project.
Retail Booms in NOLA with Old Projects and New
Retail took front row in New Orleans’ CRE market again, with updates on already underway development flooding the news cycle as well as new projects being announced.
American Life Acquires Site North of CenturyLink Field
With the current rate of development in Seattle in virtually any of the major sectors being amongst the highest in the entire U.S., it comes as no surprise that developers view every availability as a chance to cash in on the buzz. The latest company to ripple the waters of the Puget Sound is American Life. The real estate company has acquired a parking lot from Daniels Real Estate, just north of CenturyLink Field, in Pioneer Square. According to the Puget Sound Business Journal, the investor paid a fee of $18 million for the property, and has set its sights on developing a new office property at the site.
HFF Ramps UP L.A. Area Activity, Completes Financing Deal, Property Sale
As the local market continues to improve, commercial real estate capital intermediaries Holiday Fenoglio Fowler have ramped up their involvement in Los Angeles and Orange County. The company has recently closed the sale of a Newport Beach office asset to a Goldman Sachs Asset Management-controlled fund, while on the financial front, HFF arranged refinancing for a shopping center located in Burbank, worth a total of $11.24 million. The retail property is under the ownership of a joint venture between GPI and KBS Capital Advisors.
Mayor Menino’s $16.5 Billion Housing Strategy Calls for 30,000 New Units by 2020
Back in March Mayor Thomas M. Menino unveiled an unprecedented plan to increase the number of new housing units in Boston by 30,000 by the year 2020. Last week, with less than four months in office, the Mayor announced the city’s new blueprint for this ambitious strategy that aims to fulfill Boston’s housing needs.