National
Castle Rock Council Approves Town’s Largest Commercial Development Project
The Town Council of Castle Rock, Colorado has green-lighted a conceptual private-public financing package that would result in the largest single master planned commercial development ever constructed in Castle Rock.
Investor Buys Multifamily Property from PREI for $165,436 Per Unit
The Alexan Garrett Farms, a 298-unit rental community located off of U.S. 15-501 in south Durham has recently changed owners. According to the Triangle Business Journal, real estate investment firm Bentall Kennedy of Boston has acquired the property from Prudential Real Estate Investors of Chicago. The community sold for $49.3 million, or $165,436 per unit.
JU Starts Work on New $8M College of Health Sciences Building
As part of Jacksonville University’s $85 million ASPIRE campaign, work will soon start on the College of Health Sciences’ new building, meant to address the growing need of JU’s health sciences programs.
Tucson’s Modern Streetcar Nearing Completion
The City of Tucson is s wrapping up construction on the Sun Link Streetcar, its largest construction project to-date. 98% of the underground utility upgrades and relocations are complete and 95% of the project has rail installed, according to the latest official updates.
Albuquerque’s Convention Center Completes Phase I of $20M Renovation
The 40 year old convention center in Albuquerque is half way through its $20 million restoration. According to Albuquerque Business First, last Tuesday the city hosted an event to mark the finalization of Phase I of the redevelopment.
Big Red Liquors Plans New 33,000-Sq.-Ft. HQ in Indianapolis
Bloomington-based Big Red Liquors is planning to turn a vacant 33,000-square-foot building on the south side of Indianapolis into the company’s new headquarters.
The City of St. Louis Launches Energy-Efficiency Financing Program
If you are a property owner in the city of St. Louis or plan on becoming one in the near future, you should be happy to hear that The City of St. Louis recently launched an innovative program: Set the PACE St. Louis.
Freshly Renovated City Parks Remove Yet Another Mark of Katrina
The Big Easy now sports two more renovated green spaces: St. Roch Park and Mickey Markey Park, which recently reopened to the public after going through much-needed renovation work.
Corporate Park in Kent Fetches $170M, in Northwest’s Largest Industrial Sale
A landmark deal was recently completed after the Pacific Northwest’s largest industrial property finally traded hands for quite the fee. The Northwest Corporate Park in Kent was acquired by an affiliate of New York-based private equity fund manager KTR Capital Partners. The deal cost the buyer a staggering $170 million, a price tag that makes the transaction the largest of its kind in the entire Northwest, and one of the reference points of the West Coast real estate market in 2013.
Work Resumes on Schofield Building Conversion; Eight Northeast Ohio Projects Receive Historic Preservation Tax Credits
After a 3-year break, work is restarting on the conversion of the 14-story Schofield Building in downtown Cleveland. The $50 million project will deliver a 122-room hotel, 55 luxury apartments, a ground-floor restaurant and retail space at East Ninth Street and Euclid Avenue by late 2014.