National
Belcamp’s Riverside Distribution Center Sells for $31.1M; Baltimore County Industrial Building Secures $12.5M Bridge Loan
By Adrian Maties, Associate Editor Cassidy Turley recently announced the sale of a 599,109-square-foot industrial property in Belcamp, MD. Pennsylvania-based Exeter Property Group acquired the portfolio from Boston-based TA Associates for $31.1 million. The seller was represented by Jonathan Carpenter and James Wellschlager of Cassidy Turley’s Capital Markets Group. The Riverside Distribution Center is comprised […]
UT, Vanguard to Develop $350M Children’s Hospital
By Camelia Bulea, Associate Editor The University of Texas Health Science Center at San Antonio was authorized to execute an agreement with Vanguard Health Systems, according to which the two parties will co-develop a state-of-the-art children’s hospital in the Alamo City. The proposed $350 million, 250-bed facility, funded by Vanguard, will be designed and built […]
Woodinville Apartment Complex Latest Addition to Grosvenor’s Value-Add Portfolio
By Alex Girda, Associate Editor Grosvenor Americas recently announced the acquisition of the Waterford Place Apartments in Seattle’s Woodinville suburb for $58.4 million. The property group will now pursue a substantial property renovation to add value to the newest member of its portfolio. Upgrades are deemed necessary for most of the community’s amenities, such as […]
Luxury Residential Development Announced in St. Louis Park
By Gabriel Circiog, Associate Editor A new luxury residential development has been announced in the inner-ring Minneapolis suburb of St. Louis Park. A joint venture that includes Madison, Wis.-based E.J. Plesko & Associates Inc., Fiduciary Real Estate Development Inc. and Northwestern Mutual, both of Milwaukee, will develop the 36 Park Apartments. Located at 3601 Park […]
SpringHill Suites by Marriott Opens in Latrobe
By Adriana Pop, Associate Editor Golfing legend Arnold Palmer and hospitality industry icon Bill Marriott have celebrated the opening of the SpringHill Suites Pittsburgh Latrobe hotel in Palmer’s hometown of Latrobe, PA. The 109-room, LEED-certified hotel is a joint venture between Palmer Hospitality, L.P., Concord Hospitality Enterprises and private investor Keith H. McGraw of Sewickley, […]
Aloft Nashville Music Row Unveiled
By Eliza Theiss, Associate Editor The Nashville hospitality market continues to run red-hot; it’s no surprise as the grand opening of the Music City Convention Center is just a little over six months away. And just 12 blocks from the convention center, Starwood Hotels & Resorts Worldwide, Inc. has unveiled the newest hotel to operate […]
Sheetz to Develop $32.8M Distribution and Manufacturing Center in Burlington
by Adriana Pop, Associate Editor Sheetz Inc. plans to establish a $32.8 million regional distribution and food manufacturing center in Burlington and create up to 254 jobs over the next six years. The Pennsylvania-based gas station and convenience store chain recently announced its decision through Gov. Bev Perdue’s office. The approximately 250,000 square foot facility […]
Pulte Homes buys 86 developed lots in Stormcloud
Pulte Homes is planning to expand its presence on the Westside of Albuquerque with the purchase of 86 developed lots in Stormcloud. The developer has begun marketing these communities. According to the developer’s website, Pulte recently opened The Boulders and Mesa del Sol communities in Albuquerque, in addition to featuring new homes at Volterra.
Hines Global REIT Acquires Gap’s San Francisco Headquarters for $180 Million
By Alex Girda, Associate Editor International real estate giant Hines recently announced the purchase of one of the city’s best known office properties. The company’s subsidiary, Hines Global REIT, has completed the acquisition of 550 Terry Francois, the building that is currently fully under contract with Gap Inc. The real estate investment trust paid $180 […]
Ian Somerhalder Tries to Save Land Slated for Industrial Development
By Eliza Theiss, Associate Editor A tract of land along Bayou Lacombe, below Interstate 12 in Lacombe, La., could be making entertainment headlines, as actor and philanthropist Ian Somerhalder will be making a last effort to acquire the land for the Ian Somerhalder Foundation’s ISF Sanctuary. According to a report by The Times-Picayune, the actor […]