National
Transwestern Tapped to Lease, Manage Texas Center for Athletes
Transwestern’s San Antonio office has been hired to provide leasing and management services for the Texas Center for Athletes, according to a company news release. Transwestern managing directors Russell Noll and Alan Grilliette, senior vice president Ken Adams and property manager Kathy Nielsen have been awarded the assignment for the property. The leasing team includes Amber Austin and Licia Shreves.
The Hilton Portland and Executive Tower Sells as City Contemplates Beefing Up Its Hospitality Figures
A Chicago-based investor has recently acquired The Hilton Portland and Executive Tower, the Portland Business Journal reports. The transaction is speculated to be worth approximately $100 million, which is not a staggering amount, considering the fact that the property is the city’s largest hotel. In fact, the per-room sale price comes in at about $128,000, less than half of what it costs to develop a hotel room in downtown Portland.
Mercy Medical Center Plans Expansion; Ohio City to Receive 72 Market-Rate Apartments
Canton’s Mercy Medical Center plans to increase the size of its emergency department. According to the Akron Beacon Journal, the hospital is looking to finalize plans for the 14.5 million-square-foot renovation and construction project.
CyrusOne Buys Downtown Cincinnati Building; Flaherty & Collins Snaps Up Oakley Site
CyrusOne Inc., the wholly owned subsidiary that owns and operates Cincinnati Bell Inc.’s data center business, has acquired its parent company’s downtown Cincinnati building.
Houston Club Moves to One Shell Plaza, Plans Multimillion-Dollar Club Renovation
The 118-year-old Houston Club has recently entered into an agreement with the Plaza Club to relocate to the Plaza Club’s current location on the 49th floor of the One Shell Plaza.
University Shoppes Demolition to Make Way for Student Housing Complex
The 25-year-old University Shoppes retail center across from University of Central Florida’s main entrance is set for demolition, as American Campus Communities will soon be replacing it with a new student housing complex.
Eli Lilly Plans $140M Plant Expansion in Indianapolis
Eli Lilly and Co. has announced plans for a $140 million expansion of the company’s Indianapolis insulin manufacturing operations. The company’s initiative represents one of the largest economic development investments in both the city and state in 2012. Construction on the 80,000-square-foot expansion will begin immediately with completion expected in March 2014. More than 100 permanent jobs for highly skilled technicians, scientists, and engineers will be created once the facility becomes operational in 2015.
Streets of Brentwood Mixed-Use Project to Request Zoning Hearing
Developers of the ambitious Streets of Brentwood mixed-use project in Nashville’s Brentwood submarket are headed to the Brentwood City Commission for a zoning request hearing.
Dan Gilbert’s Rock Ventures Breaks Ground on 10-Story Garage/Retail Facility in Downtown Detroit
Rock Ventures LLC, the real estate development arm of Dan Gilbert’s Quicken Loans, is building a 1,300-square-foot parking garage and 33,000 square feet of retail space in an effort to provide more parking, more restaurants and more shops to the growing number of people who work in Detroit’s Central Business District.
Freeport-McMoRan Buys and Occupies 85,000SF American Airlines Building
Phoenix-based Freeport-McMoRan Copper & Gold, a global mining company, has purchased the American Airlines building in Tucson for $5.2 million. The 85,000-square-foot call center building, located at 3350 E. Valencia Road, was closed in August and has been vacant ever since, reports the Inside Tucson Business.