National
$20M Boomtown Casino Hotel Breaks Ground
Hospitality continues to drive the Crescent City and it’s no surprise what with the success of the 2013 SuperBowl and the recent announcement that WrestleMania 30 is to take place at the Mercedes-Benz Superdome in 2014.
Lakewood Center North Sells for $3.4M
Lakewood Center North, the tallest office building in Cleveland’s second largest suburb, was purchased by a local investor group led by commercial real estate broker and investor Brad Kowit. According to Cuyahoga County records, the price of the transaction was $3.4 million.
Central Y Property Redevelopment Brings Condominiums, Smaller Facility
San Francisco-based MB Property Acquisitions LLC is planning a new 150-unit condominium high-rise at the site of the current YMCA of Honolulu facilities, as well as a smaller adjacent building that would better suit the needs of the nonprofit organization.
According to the Pacific Business News, the developer has asked the Department of Planning and Permitting to approve a zoning change that would allow for the development of a high-density apartment mixed-use tower with a height limit of 350 feet. The area’s current limit is only 150 feet.
Camden Property Trust Expands Presence at Greenway Plaza—but Switches Buildings
By Georgiana Mihaila, Associate Editor Camden Property Trust—one of the largest publicly traded national multifamily developers—will soon be trading its office at 3 Greenway Plaza for the neighboring 11 Greenway Plaza. The company signed a lease for 86,733 square feet on floors 23 through 26 of the 31-story Class A office building. Bob Boykin, Warren […]
HFF Secures $50M Refinancing for Three Central Florida Office Properties
Holliday Fenoglio Fowler, working on behalf of the borrower—a joint venture between The Praedium Group and Tower Realty Partners, Inc.—has secured $50 million in refinancing for three Central Florida office properties.
Lincoln Property Co. Tapped to Lease 332 K SF Metro Atlanta Portfolio
By Georgiana Mihaila, Associate Editor OA Development—an Atlanta-based company that specializes in the acquisition, development, management and brokering of commercial properties—has awarded leasing assignments for an additional 332,000 square feet of space to Lincoln Property Company Southeast. The assignments include the three-building Peachtree Corners Technology Center, in Norcross, Ga., which features 162,000 square feet of […]
Harlem’s Victoria Theater to Be Reborn as Mixed-Use Cultural Venue
Harlem’s historic Victoria Theater on 125th Street will undergo a $142 million renovation spearheaded by Danforth Development Partners and Exact Capital.
High-Profile I.M. Pei Apartment Community Slated for Renovation
One of Pittsburgh’s iconic residential towers, the 24-story Washington Plaza Apartments, is set to undergo a series of upgrades this year. According to the Pittsburgh Business Times, Faros Properties LLC has hired Perkins Eastman of New York to remodel the property’s lobby, business center, fitness center and swimming pool. Improvements are also planned for the kitchen and bathroom(s) of each unit.
Built in 1964 and designed by I.M. Pei and Partners, the 388-unit high-end apartment complex is located at 1420 Centre Avenue, just west of the city’s downtown. The property includes studios, as well as one- and two-bedroom residences, with monthly rents going from $1,000 to more than $2,000. The complex offers approximately 400 parking spaces, 291 storage units, a 24/7 concierge service, controlled access and valet parking, as well as tennis courts, volleyball courts and BBQ picnic areas. There is also a retail portion on the ground floor, with a bar & grill, massage spa, dentist and hair salon.
First Hotel to Open in Gulch Has $17.5 M Price Tag
The hotel, a future Fairfield Inn & Suits by Marriott is being developed by Chattanooga, TN-based Vision Hospitality with Brentwood, TN-based Biscan Construction as main contractor.
Essex Property Trust Picks up Fox Plaza Residential Component, Commits to Improvement of New Asset
The acquisition deal did not include the lower floors featuring commercial office space. However, an adjacent two-story, 37,800 square-foot commercial building was part of the agreement. The REIT’s interest in this second building is clearly linked with the fact that there is permitting in place for a 250-unit, 11-story apartment development. While Essex maintains that it has no immediate intentions of activating the entitlement, the entity has confirmed that the possibility of developing the tower will be evaluated in the future.