National
146-Room Boutique Hotel Planned for Pearl
The Pearl development will have a new boutique hotel next year, as Kimpton Hotels & Restaurants was selected to operate a 146-room project on the former brewery site. The boutique hotel will include two new restaurants, a roof-top pool, venue space facing the San Antonio River and a cocktail bar.
Seattle’s New Skyscraper to Get SLS-Branded Boutique Hotel
The SLS Hotel Seattle will occupy floors 2 through 15, and offer guests 184 rooms to choose from, all designed with its signature boutique-style in mind. Located at 5th and Columbia in the city’s downtown, the new skyscraper will begin construction during this year’s Q4 with a 2016 completion date in its sights. The hotel’s guest amenities will include 20,000 square feet of meeting space, a spa, fitness facilities, and 30,000 square feet of food and beverage outlets.
Bank of Hawaii Waikiki Center Changes Owners
Shoei USA Inc. has acquired the Bank of Hawaii Waikiki Center from Honolulu-based Pacific Office Properties Trust Inc. and its Mainland partner. According to the Pacific Business News, NAI ChaneyBrooks represented the buyer in the transaction. Financial terms of the deal were not disclosed.
Located at 2155 Kalakaua Avenue near the Waikiki Beach Walk, this landmark nine-story property offers more than 150,000 square feet of office and retail space, along with 219 parking stalls. Its tenants include Bank of Hawaii, Starwood Hotels & Resorts, Aston Hotels, JTB Hawaii, 7-Eleven and the Teddy Bear World.
Last May, the building’s former owners put the property on the market for $38 million. Larry Taff, president and CEO of Pacific Office Properties, told the newspaper that the company’s partner, a group of Mainland investors, owned an 83 percent interest in the property.
Milhaus Redevelops Former Bank One Center into Apt., Office Space
Milhaus Development is currently redeveloping the former Bank One Operations Center in downtown Indianapolis into a five-story mixed-use structure with 258 apartments and up to 68,000 square feet of commercial space. Inside Indiana Business reports that the estimated price tag of the reconversion plan is around $30 million.
Located at 451 East Market Street, the “Artistry” project is centered on the arts theme, reflecting the neighborhood’s history of craft and skill. Marketing and experience-design firm Q7 Associates will brand and market the residences, while the Gene B. Glick Company will provide property management services.
Rida Development’s $200M Transit-Oriented Project Gets Preliminary Approval
RIDA Development’s master plan for a $200 million, multi-phased mixed-use development won the approval of Orlando’s Municipal Planning Board on Tuesday, and must now go before the City Council. The ambitious project was first announced in 2011, when Mayor Buddy Dyer included RIDA’s idea in his State of Downtown speech.
BRA Approves $200 Million Residential Tower in the West End
A development team including AvalonBay Communities, Exclusive Real Estate, Goulston & Storrs and CBT Architects has received unanimous approval for a 38-story residential high rise planned for Boston’s West End neighborhood, on an empty site between TD Garden and the Charles River.
Transwestern to Lease Platinum Tower; Parmenter Scores Two TOBY Awards
Beacon Investment Properties has recently named Transwestern’s Atlanta office as the exclusive leasing agent for its 312,500-square-foot Platinum Tower. This new leasing project is a significant addition to Transwestern’s leasing and property management portfolio, totaling more than 32 million square feet of commercial properties managed out of the Atlanta office.
Baltimore Ravens to Invest $35M in Upgrades to the M&T Bank Stadium
NFL champions the Baltimore Ravens aren’t taking it easy after defeating the San Francisco 49ers in Super Bowl XLVII. The team announced last Thursday it plans to invest $35 million to upgrade M&T Bank Stadium and enhance the fan experience.
SKECHERS Distribution Center Becomes Largest US LEED Gold Building
The company is committed to growing its business in a way that conserves natural resources, protects the environment and reduces waste, therefore the development process was green-minded from the start.
Brookfield Acquires Apartment Communities in the Triangle for $108M
Brookfield Asset Management Inc. has purchased five multi-family properties in the Triangle region, as part of its $414 million deal to acquire a total of 19 apartment communities in North Carolina, South Carolina and Virginia. Babcock & Brown Residential, the seller of the 4,892-unit portfolio was advised by Robert W. Baird & Co.
According to the Triangle Business Journal, the assets located in the Triangle accounted for a combined $108 million, or $76,900 per unit.
The newspaper reports that the 462-unit Oak Hollow property in Cary sold for $32.6 million, while the 144-unit Bridges at Chapel Hill in Carrboro sold for $11.6 million. The region’s other three communities that were included in the sale are located in Durham: the 346-unit Bridges at Wind River (pictured), which sold for $32.6 million, the 264-unit Woods Edge, which sold for $18.7 million, and the 192-unit Bridges at South Point, which sold for $12.76 million.