National
Growing Commercial Bank Signs Two New Washington Leases
The appeal of the Northwest’s growing economy was once again highlighted as emerging financial institution Opus Bank has announced that it is in contract for two spaces in the state of Washington where it will begin operations later this year. The bank has chosen locations in Seattle and Tacoma as its ice breakers for the region, and with strong growth driving its current activity, it won’t be surprising if the entity will go on to sign a few more leases in the area.
Balluff Breaks Ground on $6M Expansion Project in Independence, Adding 24 Jobs
Balluff Inc., the U.S. subsidiary of Balluff GmbH, based in Neuhausen, Germany, started construction last week on a $6 million expansion of its U.S. headquarters in Northern Kentucky. Governor Steve Beshear joined local and company officials in the city of Independence on Thursday, April 11, for the project’s ground breaking ceremony.
A&B Properties Launches New Residential Community in Kakaako
A&B Properties and landowner Kamehameha Schools have announced plans to develop a $200 million mixed-use residential community at 600 Ala Moana Boulevard on the site of the former CompUSA in downtown Honolulu.
Called The Collection, the project will feature a high-rise condominium tower, a mid-rise building and town homes, as well as retail shops and restaurants. Prices for the residences will be around $300,000s for one-bedroom units, mid $500,000s for two-bedroom units, and mid $700,000s for three-bedroom units.
Shorenstein Hires Transwestern to Lease 1.2 MSF Exxon Mobil Tower
San Francisco-based Shorenstein Properties LLC has chosen Transwestern to serve as the exclusive leasing agent for 800 Bell—the 1.2 million-square-foot office tower in Houston’s Central Business District the company has acquired back in January.
Valencia, UCF Officials Dedicate New Building at Osceola Campus
Valencia College officials, along with officials from the University of Central Florida, dedicated the newest building on Valencia’s Osceola Campus on April 11, marking the expansion of the Valencia-UCF partnership in Osceola County.
Two Historic Multifamily Properties Trade Hands as 1920s Charm Makes a Comeback
Los Angeles’ residential market saw a recent upswing in interest for smaller multifamily properties as two deals were completed for properties bearing those traits. South Park Lofts in the South Park district and Avondale Apartments in Hollywood were snapped up by investment firms M West Holdings and Avondale Hollywood LLC, respectively. However, the two properties don’t only have their reduced number of units in common. Both South Park Lofts and Avondale Apartments are historic properties.
Baltimore City Officials Celebrate Approval of $1.1 Billion School Construction and Renovation Plan
Mayor Stephanie Rawlings-Blake, City Schools CEO Andrés A. Alonso, School Board Chair Neil E. Duke, Maryland Stadium Authority Executive Director Michael J. Frenz and many others gathered on Wednesday, April 10, to celebrate the approval by the Maryland General Assembly of the Baltimore City Public School Construction and Revitalization Act of 2013.
CBRE Brokers $19M Outpatient Campus Sale, 400K SF Industrial Lease
A three-building outpatient campus located in Marietta has recently traded in a $19.2 million deal brokered by CBRE’s U.S. Healthcare Capital Markets Group.
HFF Secures Financing for 194-Unit Student Housing Project
Holliday Fenoglio Fowler recently announced it has arranged construction financing along with joint venture equity for the development of Metro Park East, a 194-unit student housing project at the University of Minnesota – Twin Cities in Minneapolis.
Hendricks Breaks Ground on $30M Redevelopment of Retail Strip in Indianapolis
Developed by Hendricks Commercial Properties of Wisconsin, the five-story mixed-use project will replace the vacant Woodfield Centre retail strip at the southwest corner of Keystone Avenue and East 86th Street with 120 high-end apartments and 36,000 square feet of ground-level retail space. According to the Indianapolis Business Journal, a 10,000 square feet restaurant could soon become the property’s anchor tenant. The developer expects to have a commitment by June, the newspaper reports.
Plans also call for 350 surface parking spaces for shoppers and a 150-space underground garage for residents. Construction is expected to be complete by next summer.