National
Wells Fargo Inks Decade-Long Renewal Deal With MPG Office Trust
Wells Fargo recently completed a deal to keep it at its current Los Angeles home. The banking giant has finalized a lease renewal with landlord MPG Office Trust, Inc. for space at the Bunker Hill-located Wells Fargo tower. The financial entity will stay on the building’s tenant roster for another 10 years, according to a press statement MPG recently released.
UMBC Opens First Phase of $165M Performing Arts and Humanities Building
The University of Maryland, Baltimore County (UMBC) held a day-long celebration on Wednesday, September 19, to mark the grand opening of the first phase of its new $165 million Performing Arts and Humanities Building as well as the ground breaking for the second phase. Governor Martin O’Malley was present at the ceremony.
Mainstreet Property to Develop $15.7M Seniors Health Care Facility in Indianapolis
Mainstreet Property Group LLC has gained approval from the Indianapolis Metropolitan Development Commission to build a $15.7 million senior health care center on the city’s east side. According to the Indianapolis Business Journal, a portion of the project could be financed by $7.4 million in city-issued bonds. Plans call for 100 beds for skilled care, short-term rehabilitation and assisted-living patients. The facility will be developed on a nine-acre parcel located at 16th Street and Arlington Avenue. Earlier this year, the Cicero-based developer purchased the property from the city for $912,500. Zeke Turner, Mainstreet’s CEO, told the newspaper that the new center is expected to employ up to 150 people.
Renovated Bell Building Welcomes First Wave of Residents
By Veronica Grecu, Associate Editor Detroit’s Neighborhood Service Organization (NSO), a private non-profit human service agency looking to provide shelter to homeless people, announced that the first group of residents has moved into the former Michigan Bell Telephone Co. building as a complex revitalization process is nearing completion at the site. Back in April, NSO […]
Carondelet Invests $17M to Relocate Heart Institute to St. Mary’s Hospital
Carondelet Health Network plans to relocate its Heart & Vascular Institute to the Carondelet St. Mary’s Hospital campus. In a statement, the company said the first phase of the relocation will be complete by early November. Carondelet will invest about $17 million in the construction of the new facility, which is expected to completed by May 2013.
50 Beale Street Trades Hands as Rockefeller JV Acquires Office Tower
By Alex Girda, Associate Editor The Rockefeller Group recently announced the acquisition of a class A office property in San Francisco’s South Financial District. A joint venture that the company created with Mitsubishi Estate New York has closed a deal securing the 50 Beale Street tower as the third acquisition the partnership has completed since […]
330 N. Wabash Gets New Tenant; Suburban Baker Hill Center Acquired by REIT
By Gabriel Circiog, Associate Editor The landmark 330 N. Wabash is welcoming a new tenant, as Creative Circle LLC has signed a lease for 7,128 square feet on the 14th floor of Prime Group Realty Trust’s office building. The staffing firm has agreed to a five and a half-year lease beginning on March 1, 2013. […]
JV Brings SkyHouse Apartments Concept to Orlando
Novare Group and Batson-Cook Development Company, the joint venture behind Atlanta’s SkyHouse Midtown Apartments, has now teamed up with Palmetto Realty Advisors in order to bring the SkyHouse concept to Orlando.
Leasing Activity Heats Up at 55 Allen Plaza
Less than a week after an official announcement that Cushman & Wakefield is joining Lincoln Property Co. Southeast in leasing the 55 Allen Plaza tower, the Class A office building landed two new leases.
City Planning Commission Approves Hyatt Regency Century Plaza Hotel Redevelopment
By Alex Girda, Associate Editor The efforts of area homeowners, conservation groups and local officials who have championed the Hyatt Regency Century Plaza Hotel’s redevelopment plan have been rewarded. The Los Angeles City Planning Commission recently approved developer Next Century Associates’ comprehensive proposal to turn the hotel they own into a new focal point for […]