National
Holliday Fenoglio Fowler Arranges Acquisition Financing for Southlands Town Center
Holliday Fenoglio Fowler, L.P. has arranged acquisition financing for Southlands Town Center—a mixed-use property in Aurora, Colo. Working on behalf of Northwood Investors LLC, the HFF team led by Managing Director Travis Anderson and Senior Managing Director Eric Tupler placed the five-year loan with CIBC World Markets.
Downtown Structured Parking Goes Green
The Bluff City just got a little greener. Green Ballast Inc., a Memphis-based energy solutions company, has announced it will be upgrading the lighting system at one of Belz Enterprises’ structured parking facilities.
HVMG Opens New Hampton Inn & Suites in Greater Pittsburgh
Hospitality Ventures Management Group (HVMG) of Atlanta has announced the opening of a Hampton Inn & Suites property along the Waterfront in West Homestead, just seven miles from downtown Pittsburgh. It is the fourth hotel the company manages in the Greater Pittsburgh area. The new Hampton Inn & Suites/Waterfront-West Homestead features 113 rooms including 33 suites, 1,000 square feet of meeting space, an indoor swimming pool and a 1,500-square-foot outdoor terrace and deck. Amenities include free hot breakfast, free parking, 24-hour business center, access to the on-site fitness center and free high-speed Internet in each guest room.
Aris Integration Picks Tucson for Corporate HQ and Plant
Aris Integration has announced its intention to move its corporate headquarters to Tucson. The Scottsdale-based company plans to build a facility that will manufacture a new type of modular energy-efficient building panel, and hire about 600 people by 2017. Positions at the office will include ones in executive management, sales & marketing, quality control, HR, and manufacturing.
Pergo Distribution Center in Garner Sells for $8M
Exeter Property Group has acquired the Pergo distribution center in the Greenfield business park in Garner for $8 million. According to the Triangle Business Journal, the property was sold by four family trust groups working through First American Exchange Co., an intermediary for 1031 tax-deferred real estate exchanges. CBRE Raleigh’s J.D. “Butch” Miller, managing director and Ann-Stewart Patterson, senior associate, represented First American in the transaction. The distribution center was built in 2002 and offers 175,230 square feet of warehouse space coupled with 4,770 square-feet of office space on a nearly 11-acre lot. It is fully leased to Pergo, a widely known laminate flooring manufacturer. In May 2012, CBRE renewed the Pergo lease on behalf of the landlord.
General Hotels Plans $8M Renovation for Downtown Crowne Plaza
General Hotels Corp. is planning a major renovation of the Crowne Plaza Hotel in downtown Indianapolis. According to Inside Indiana Business, the $8 million project will include extensive upgrades to the hotel’s 273 guest rooms, as well as improvements to the meeting space and food and beverage areas. In order to ensure minimal impact to hotel guests, the renovation will be conducted in phases. It is scheduled to begin during the first quarter of 2013 and be completed by October. “The hotel’s historical, architectural charm and proximity to downtown’s entertainment districts, sporting venues and attractions, combined with newly renovated state-of-the art comfort will offer planners and visitors an exclusive meeting / lodging experience distinctly set apart from other area hotels,” said Jim Dora, Jr., General Hotels Corp. president and CEO.
Oxford Development to Decide on 350 Fifth Avenue Plans By Year’s End
Oxford Development Corporation, the largest privately owned commercial real estate firm in Western Pennsylvania, celebrated its 50th anniversary at the Rivers Club at One Oxford Centre in downtown Pittsburgh. On this occasion, President and CEO Steven J. Guy told the Pittsburgh Tribune-Review that the company would continue its aggressive pursuit of development and management opportunities. Announced in May, Oxford’s latest project involves the revitalization of the Smithfield Street corridor. In order to better suit market demand, Oxford has invested in the conceptual design of two options and expects to make a decision by the end of the year.
Retail Phase of 14.5-Acre Mixed-Use Development Underway, Multifamily and Office to Follow
DeBartolo Development, LLC and Forge Capital Partners, LLC have recently broken ground on The Fresh Market at Mills Park—the first phase of a 14.5-acre mixed-use development that will rise at the intersection of Mills Avenue and Virginia Drive in Orlando.
ADT Moves to Camp Creek Business Center; Brennan Investment Group Buys Ball Ground Industrial Facility
ADT Security Services—a provider of electronic security and monitoring systems—will soon move into Duke Realty’s 17-building Camp Creek Business Center located in the Atlanta Airport submarket. ADT recently signed a lease for 58,080 square feet that it plans on occupying in the first quarter of 2013.
South Lake Union Set for Rezoning Overhaul
By Alex Girda, Associate Editor South Lake Union is growing at a frantic pace. Some developers are pitching office high-rises in hopes of scoring one of the big names that are constantly circling the neighborhood’s available office space, while others are proposing the next young-professional-oriented multifamily building. However, growth must be sustainable, and there are […]