National
Sanbusco Market Center Sold at Auction to GE Capital Affiliate
Santa Fe’s Sanbusco Market Center was sold at auction to its lender. An affiliate of General Electric Capital Corp. bought it for $8.8 million, the value of the loan, thus ending 28 years of ownership by Joseph Schepps, according to the New Mexico Business Weekly.
Title Source Moves 1,500 Employees to Downtown Detroit
By Veronica Grecu, Associate Editor Dan Gilbert’s family of companies continues to consolidate its presence in Detroit’s Central Business District as Title Source, a Rock Ventures-affiliated company, has started relocating 1,500 of its Michigan-based employees to the First National Building, a Class A office tower located at 660 Woodward Ave. Built in 1930 under famed […]
Micro Apartment Complex Attempts to Take Bay Area Residents by Surprise
By Alex Girda, Associate Editor It’s all about one-bite appetizers and shot-size cocktails these days, and now it looks like less is more in the living department as well. 300-square-foot apartments offer a frugal living space, but student housing developer Patrick Kennedy seems confident that those who crave city life above everything else will embrace […]
SIGNET Development Breaks Ground on $130M NEOMED Expansion Project
By Adrian Maties, Associate Editor SIGNET Development, a full-service real estate development and construction management firm co-headquartered in Akron, Ohio, and Jacksonville, Fla., broke ground on July 24 on a new residential housing village in Rootstown for the Northeast Ohio Medical University (NEOMED). This is the first part of NEOMED’s three-phase master expansion plan. which […]
White Castle to Build Plant in Vandalia; Cengage Renews Lease in Northern Kentucky
By Adrian Maties, Associate Editor Columbus-based White Castle broke ground last week on a new food processing plant in Vandalia, near the Dayton International Airport. Gov. John Kasich, White Castle CEO E. W. “Bill” Ingram III and Vandalia city officials attended the groundbreaking ceremony. The new 75,000-square-foot plant will be situated in the Stonequarry Crossings business […]
New Owners, New Name for Polos East at Waterford
Advenir has recently added the Polos East at Waterford apartment community to its portfolio, following a $27.1 million transaction. The Aventura-based company–a provider of multifamily real estate investment and management services—has sealed the sale by changing the name of the 308-unit community to Advenir at Polos East.
Baltimore’s Aging Bus Yard will Get $53M Overhaul
By Adrian Maties, Associate Editor U.S. Transportation Secretary Ray LaHood announced on July 23 that $787 million has been awarded by the federal Department of Transportation as part of its annual State of Good Repair and Bus Livability program to help repair and modernize the nation’s aging transit infrastructure. The money will fund 255 projects […]
LANE4 Lands Two Major Healthcare Tenants for $50M Mixed-Use Development
Two major healthcare tenants will be anchoring the second phase of LANE4 Property Group’s 39Rainbow, a $50 million mixed-use development in Kansas City, Kan.
LEED Silver Multifamily Property Sold for $74M
By Eliza Theiss, Associate Editor Post Properties Inc. has acquired Circle at South End from Crescent Resources in one of Charlotte’s priciest multifamily transactions. Post paid $74 million, or $205,555 per unit, for the property, which it immediately re-branded as Post South End. The 360-unit property is located in the Queen City’s South End neighborhood […]
Garrison Investment Group Acquires the DoubleTree Denver-Aurora; Sage Hospitality Now Manages the Embassy Suites Denver
By Gabriel Circiog, Associate Editor Holliday Fenoglio Fowler announced it has closed the sale of the DoubleTree Denver–Aurora. The 248-room full-service hotel, located at 13696 East Iliff Pl. in Aurora, was marketed by HFF on behalf of the seller—GTIS Partners. The property was purchased by New York-based Garrison Investment Group for an undisclosed amount. The […]