National
AFL-CIO BIT Announces Investment in Wolf Point Development; Developer Smoothes Infrastructure Details
The AFL-CIO Building Investment Trust recently announced an investment in the proposed Wolf Point Development. The BIT joins Hines, Kennedy Enterprises and the Magellan Development Group in an effort to revitalize the long-stagnating site along Chicago’s river, one of the last prime undeveloped pieces of land around downtown Chicago.
CORTEX Announces $186M Phase II in Biotech District
Phase II of CORTEX, midtown St. Louis’s bioscience and technology hub, will bring 384,000 square feet of additional lab and office space to the technology district. The total facilities space in the technology district will total over 1,000,000 square feet when the phase is complete.
Paces Cumberland Trades Hands, Awaits Renovation
Locally based real estate investment firm Atlanta Property Group has added yet another property to its portfolio by closing on the acquisition of Paces Cumberland—an office building located in the Vinings section of the Cumberland/Galleria submarket.
Rhode Island Housing Wins 2 Awards in National Competition
Rhode Island Housing has received the National Council of State Housing Agencies’ special achievement and communications awards. NCSHA cited the state agency’s comprehensive approach to foreclosure prevention and its efforts to forge human and electronic links with more than 60 local and national lenders in its special achievement award. Housing finance agencies nationwide compete for NCSHA awards in 18 categories. In the communications category, Rhode Island Housing was recognized for its Hardest Hit Fund Rhode Island outreach efforts. Through newsletters, targeted automatic phone messages and coordination with members of the General Assembly, the agency has encouraged attendance of free informational meetings. As a result, homeowners at risk of losing their home due to a sudden financial hardship were the beneficiaries of effective federal foreclosure assistance.
Hyland Gets Tax Breaks for Westlake Expansion; Diebold Suspends Plans for New HQ
Earlier this month, the city of Westlake’s planning commission approved Hyland Software Inc.’s plans to build an office across the street from its headquarters on Clemens Road.
Parkway Properties Picks Up NASCAR Plaza for $100M
Orlando, Fla.-based Parkway Properties has announced entering a purchase and sale agreement for the acquisition of NASCAR Plaza, a 395,000-square-foot office tower in Charlotte’s central business district.
LEED Gold Certification Awarded to Iconic Chrysler Building; LinkedIn Doubles Presence at Empire State Building
The U.S. Green Building Council has awarded the LEED Gold-EBOM designation to New York City’s iconic Chrysler building. The certification comes one year after owner Tishman Speyer, a leading real estate development and investment company, embarked on a complex retrofit project at the skyscraper located on the east side of Manhattan at the intersection of 42nd Street and Lexington Avenue.
The Southeast’s Largest Mixed-Use Property Sells Commercial Space
Terazzo, the spectacular mixed-use mid-rise at 700 12th Ave South in Nashville’s upscale Gulch neighborhood has sold its commercial component.
Expedient Plans Major Expansion for Pittsburgh Data Center
Expedient is planning a six-month, multi-million dollar project that will double the size of its second Pittsburgh data center. Located within Allegheny Center Mall, the facility is expected to reach a total of 18,000 square feet of computing space and 25,000 square feet overall. It is the company’s third data center expansion in Pittsburgh since 2008. “We are pleased with the accelerating demand for our private cloud and colocation services in the Pittsburgh market and we look forward to the opportunities that our expansion projects will provide to our current and future customers,” said Shawn McGorry, President and COO of Expedient.
Pebblebrook Hotel Trust Continues Bay Area Expansion with Hotel Palomar
By Alex Girda, Associate Editor At a time when San Francisco hotels are catching everyone’s fancy and room rates are going strong, it is to be expected that a number of hospitality transactions are being thrown around in the excitement. A case in point would be the recent acquisition of the Hotel Palomar San Francisco by […]