National
Skanska USA Commercial Development’s First Seattle Effort Holds Groundbreaking
Stone34 was designed to become a door opener for the Burke-Gilman Trail, and will serve a diverse population for the area. It features ground floor retail and four levels of office space totaling 129,000 square feet. 8,500 square feet of outdoor pedestrian area are included in the building plans. The ambiance will be secured through wide sidewalks, group seating, plaza spaces and bike rails designed by landscape architect Swift & Company. The ground floor spaces arranged by Skanska were an essential design feature for Stone34’s anchor tenant, Brooks Sports Inc.
Akron’s Key Building to Hit the Auction Block; Canton’s Huntington Plaza Sold to Ameritrust
One of downtown Akron’s landmark office towers will soon hit the auction block. The Key Building will be offered at a public auction in late February through Auction.com.
The 11-story building was constructed in 1911. It sits on 0.42 acres at 159 S. Main St. According to Auction.com, the former KeyBank Building was 29.95% occupied as of October 31, 2012. It has 158,259 square feet of rentable space. In 1988, the building underwent renovations. The property is located next to many city attractions. Lock 3 Park, John S. Knight Center, and Canal Park are all nearby.
DunnhumbyUSA Breaks Ground on New Downtown Cincinnati HQ
DunhumbyUSA broke ground on Thursday, January 31, on its new headquarters building at Fifth and Race streets in downtown Cincinnati. Hundreds of people were present at the ground breaking ceremony. Among them, Cincinnati Mayor Mark Mallory and other city, state and company officials.
Dubbed the ”Dunnhumby Centre”, the new building will cost $122 million to build. It will sit in the heart of downtown and will have 280,000 square feet of office space, 30,000 square feet of street-level retail space and an above and below ground parking garage with 1,000 spaces.
Highwoods Sells Two Assets for $14.6M; Kite Realty Buys Publix-Anchored Center
Raleigh-based Highwoods Properties, Inc. has sold two non-core assets in Orlando for $14.6 million in cash. The two office properties—Metrowest Commerce Center and Cambridge in Orlando—encompass 134,000 square feet.
Dudley Square Affordable Housing Project Awarded MassDevelopment Bond
Two residential projects planned for Boston’s thriving Roxbury neighborhood have received $9 million in tax exemptions from MassDevelopment, the stat’s finance and development agency, who issued the bond on behalf of Dudley Greenville LLC.
NAP Breaks Ground on $600M Avalon Mixed-Use Development in Alpharetta
Nine months after the ambitious Avalon mixed-use development finally got the approval of the Alpharetta City Council, developer North American Properties is now one step closer to deliver what it fondly calls “the Southeast’s preeminent experiential development”.
Jefferson Apartment Group Starts Construction on 304-unit Apartment Community in Baltimore
The Jefferson Apartment Group broke ground last week on the Jefferson Square at Washington Hill, a mixed-use development that includes luxury residences and retail space. It is the company’s first major residential project in the Baltimore region and the second in the area.
Jefferson Square at Washington Hill is located just outside the gates of the Johns Hopkins medical campus, between N. Wolfe Street and N. Washington Street on E. Fayette Street. The five story mixed-use development will bring 304 residential units to the area, as well as 21,000 square feet of retail. The project will also include two private courtyards, a 405-space parking structure constructed to connect each level of the building to parking and several green building features.
Plans for the Future of Hawaii’s Pineapple Island Unveiled
Oracle Corp. CEO Larry Ellison is planning to revitalize Lanai’s hospitality industry by upgrading its existing properties and by adding a third luxury hotel. According to the Pacific Business News, the island’s billionaire owner also intends to expand the 1.5-megawatt La Ola solar farm, invest in desalination technology and improve transportation to and from Lanai.
Kurt Matsumoto, head of business operations at Lanai Resorts LLC, described the initiatives involving the future of Hawaii’s Pineapple Island at a recent community meeting.
Called “Lanai — Today and into the Future, A Vision for Creating a Sustainable Lanai”, the plan includes renovations for the Four Seasons Resorts and The Lodge at Koele and Manele Bay, as well as the development of a new resort destination on the eastern side of the island.
Long Island City Building Gets $120M Financing; The Edge Is Top Selling Building in NYC
By Veronica Grecu, Associate Editor One of the leading commercial real estate finance companies in the U.S., Walker & Dunlop LLC of Bethesda, Md., recently announced that it provided $120 million financing for a high-rise apartment building in Long Island City, N.Y. The financing team lead by Walker & Dunlop’s Steven Heller arranged a 10-year […]
Grubb Properties to Develop 203-Unit Link-Branded Apartment Complex in Raleigh
Grubb Properties is planning a 203-unit luxury apartment complex in Raleigh’s Glenwood South district. According to the NewsObserver, the project will be developed on half a block bordered by Jones, West and Harrington streets.
“We think it’s one of the best sites, certainly in the Triangle market, and one of the top sites that we’re working on in the entire Southeast,” Todd Williams, Grubb’s senior vice president of investments, told the newspaper.
The new complex will feature 162 one-bedroom units and 41 two-bedroom units. The apartments will be developed under the company’s Link brand, which targets younger renters who prefer to live in urban areas that offer easy access to jobs, entertainment and cultural amenities. Grubb recently opened its first Link property in Richmond, Va. (pictured).