National
Sprawling Office Development Plan Submitted for San Jose by Local Real Estate Gurus
San Jose, the largest city in the booming region of Silicon Valley is set to receive its most ambitious office project after local development team, Peery Arillaga, submitted plans for a massive development initiative. The large amount of appeal brought to the area by the booming tech market could back up the company’s new proposal. As Apple continues work on its spaceship-like HQ in Cupertino, and Google continues its shopping spree for both office space and housing in Mountain View, and other major Silicon Valley tech names such as Facebook and LinkedIn continue their respective expansions, Peery Arillaga seems to be making the right move.
CBRE Manages Sale of Westover Springs
A Class A multi-housing community in northwest San Antonio has been taken off the market as result of the successful representation by CBRE Central Texas Multi-Housing Group. Charles Cirar, Ryan Epstein and Michael Wardlaw represented the seller and Jim Kirkpatrick and Jim Richards with CBRE’s Debt and Equity Finance Group arranged the financing for Westover Springs located at 12105 State Highway 151.
Private Healthcare RE Developer Eyes Mid-City
It seems that the lure of the New Orleans BioDistrict has attracted a new player to the New Orleans health care and biosciences market.
$110M Project Could Bring 400 Apartments to Cleveland’s May Co. Building
Downtown Cleveland is a magnet for multimillion dollar developments. The newest project on the list which includes Cleveland Convention Center and Global Center for Health Innovation, the renovation of Public Square, the Flats East Bank or the Horseshoe Casino Cleveland could transform the massive May Co. building on Public Square into apartments.
Cincinnati Children’s Hospital Plans to Invest $162M in Two Liberty Township projects
Cincinnati Children’s Hospital Medical Center announced last week it will soon start work on two major expansion projects at its Liberty Campus in Butler County. The total cost of the two projects is expected to be $162 million.
Sales Underway for OliverMcMillan’s Reserved Housing Units at Symphony Honolulu
The sales process for the reserved housing units at the mixed-use Symphony Honolulu condominium tower in Kakaako has begun. According to the Pacific Business News, a total of 100 residences are available for families earning less than 140 percent of the Honolulu area median income. Applications are being accepted through September 24.
Mayor R.T. Rybak Releases Final Proposed Minneapolis Budget
Minneapolis Mayor R.T. Rybak recently released his final proposed budget for the City of Minneapolis, in a speech entitled “Investing in the Future”.
Balfour Beatty Construction Selected for George Mason University Student Housing Project
The George Mason University in Fairfax is growing and looking to become an active 24/7 campus. To help meet the continuing demand for undergraduate housing, the university has selected Balfour Beatty Construction to lead the design-build team for their new student housing facility, Shenandoah Housing VIIIB, also called Taylor Hall. Balfour Beatty Construction has worked on three other projects for George Mason University, including the construction of another housing facility.
NoHo Office Property Acquired by Kennedy Wilson Partnership
As the L.A. office market continues its climb from the depths of the recession, some investors are taking every opportunity made available to them. It was recently announced that Kennedy Wilson, an international real estate investment and services firm, acted as a partner in the acquisition of a North Hollywood office asset. The Beverly Hills-based investor provided $7.9 million of equity for the transaction which totaled $45 million. $30 million in financing was secured by the parties involved in the purchase from Pacific Western Bank.
Netflix and Google Continue to Drive Silicon Valley with Plans for Expanded Facilities
Following its massive emergence as the number one film and TV show streaming service in the U.S., Netflix has had to expand in order to manage the growth. Now, according to The Silicon Valley Business Journal, the company has made a new move for space in Los Gatos, where it has leased a large chunk of space. The new Netflix space will be located in a yet-to-be-built campus in the Silicon Valley area.