National
SouthSide Works Apartments Coming as Restrictions End
In a couple of years, the SouthSide Works riverfront could welcome nearly 400 new apartments. According to the Pittsburgh Post-Gazette, three residential projects are about to break ground in this area of the city.
San Francisco Bay Area Submarkets Lead Nation in Terms of Tech Appeal, JLL Study Shows
Most of the coverage that the San Francisco Bay Area receives real estate-wise is tightly knit to the area’s office real estate market. And now, according to real estate company Jones Lang LaSalle, we have the main reason. The San Francisco Bay Area’s three markets: San Francisco, Silicon Valley and San Francisco Peninsula, in that order, have ranked first, second and third as the top three tech markets of the country as per JLL’s U.S. High-Technology Office Outlook for 2013.
Ethika Investments Allocates Capital for Laurus Corporation’s Acquisition of the Renaissance O’Hare Hotel
Ethika Investments LLC, has recently announced a capital allocation for the purchase of the Renaissance O’Hare Hotel in Chicago, Illinois, marking the sixth investment from Ethika’s Diversified Opportunity Real Estate Fund. Laurus Corporation, Ehika’s affiliate, a real estate investment and development company specializing in hotel and resorts, office buildings and mixed-use properties, recently completed the acquisition of the hotel.
Artis REIT Acquires Class A Office Building in Denver
Artis Real Estate Investment Trust has recently announced it has entered into an unconditional agreement to acquire a Class A trophy office building in Denver, Colorado. Known as 161 Inverness, the six-story office building was built in 1997 and features numerous tenant amenities, including 1,454 parking stalls for a ratio of 6 stalls per 1,000 square feet of leasable area.
Browning Investments Obtain Preliminary Approval for $25M Mixed-Use Project Over Community Objections
A proposed $25 million residential and retail project in Broad Ripple has received its first approval from the Metropolitan Development Commission. According to the Indianapolis Business Journal, a final decision regarding the rezoning of the 2-acre property northeast of the intersection of College Avenue and the Central Canal is expected on Sept. 4.
Simon Opens Outlet Shopping Brand in Greater St. Louis
The retail real estate company, Simon Property Group, has recently announced it has brought one of the most popular brands of outlet shopping, Premium Outlets, to the Greater St. Louis area.
Carey Watermark Investors Acquires 400-Key Marriott in Downtown Raleigh for $83M
In an $83 million deal, Carey Watermark Investors Incorporated (CWI) has purchased the 400-room Marriott City Center hotel in downtown Raleigh. The New York-based real estate firm has also announced it would spend another $6 million to upgrade the 17-story property and cover other acquisition–related costs. The investment was financed with $51.5 million of debt.
Sheraton Acquires and Upgrades 600-Key Marriott Hotel in Downtown Memphis
Starwood Hotels & Resorts Worldwide, Inc. has announced the addition of the former Marriott hotel at 250 North Main Street in downtown Memphis to its rapidly growing Sheraton brand.
USTA Unveils $550 Million Makeover of the National Tennis Center
One of the world’s most anticipated sports tournaments is right around the corner. The 2013 US Open has reached its 133rd edition and will run on outdoor hard courts from August 26 to September 9 at the USTA Billie Jean King National Tennis Center in Flushing Meadows, Queens. This year’s Grand Slam event was officially extended by one day because of the poor weather conditions which have caused delays for the past five years.
Boston University Adds 150,000 Sq. Ft. Research Facility to its 2013-2023 Master Plan
It’s another wrap up of a busy week for the Boston Redevelopment Authority! Hot on the heels of Harvard University’s proposal to expand its Allston campus, another higher education institution is asking the city to green light a new sciences and engineering building on a former parking lot along the Charles River.