National
City Council Green Lights Restarted Crabtree Village Master Plan Project
by Adriana Pop, Associate Editor The City Council of Raleigh unanimously approved a master plan for a proposed mixed-use project located on a 24-acre portion of the Kidd’s Hill property behind Crabtree Valley Mall. Wells Fargo Bank and developer Pappas Properties of Charlotte are planning to restart the stalled Crabtree Village master plan by proposing […]
St. Francis Prepares to Sell Former Hawaii Medical Center West
by Adriana Pop, Associate Editor St. Francis Healthcare System of Hawaii expects to sell Hawaii Medical Center West to Queen’s Health Systems. “Preparing the West Oahu hospital for sale is one of our top priorities in the next few months,” St. Francis President and CEO Jerry Correa told the Pacific Business News. In May, Queen’s Health Systems, […]
Capital One Financial Corp. Closes on 150,000-Sq.-Ft. Lease
By Gabriel Circiog, Associate Editor In the second-largest office lease of 2012 for Chicago’s suburbs, Capital One Financial Corp. has closed on a lease of 150,000 square feet in the Atrium Corporate Center, Chicagorealestatedaily.com reports. This deal brings the office building’s occupancy rate close to 100 percent. Located at 3800 Golf Rd. in Rolling Meadows […]
Joint Venture Acquires Foothills Mall
By Gabriel Circiog, Associate Editor Alberta Development Partners—a Denver-based real estate acquisition, development and investment firm—has acquired Foothills Mall in a joint venture with affiliates of Walton Street Capital—a private equity real estate investment firm. Located in Fort Collins, the 753,000-square-foot enclosed mall was built in 1976 and remodeled in the early 1990s. The joint […]
Fresh Market Coming to New Orleans; Medical Clinic for Lower Ninth
By Eliza Theiss, Associate Editor First Costco and Wal-Mart announced plans to come to New Orleans. Now another chain store has announced plans for the Crescent City. The difference, however, is that The Fresh Market already has a three-store presence in New Orleans, with the fourth one scheduled to open on July 25 at 9 […]
Cleveland Skyscraper Avoids Foreclosure
By Adrian Maties, Associate Editor Great news for the Tower at Erieview, one of downtown Cleveland’s best-known buildings. A foreclosure case against the office-retail complex at 1301 E. Ninth St. has been dropped, thanks to the efforts of Werner Minshall, the owner of the property. He managed to find a lender willing to buy out […]
Developers Break Ground on $54M Project in Over-the-Rhine
By Adrian Maties, Associate Editor The next phase of development in Cincinnati’s Over-the-Rhine neighborhood started on Tuesday, June 26, with the groundbreaking ceremony for the massive, $54 million Mercer Commons project. Cincinnati mayor Mark Mallory, city manager Milton Dohoney Jr., city council members, and 3CDC and PNC Bank representatives attended the ceremony. The Mercer Commons […]
Larry Ellison Closes on $500M+ Purchase of Lanai from Castle & Cooke
by Adriana Pop, Associate Editor Larry Ellison, founder and CEO of Oracle Corp., has completed his acquisition of 98 percent of Lanai, Hawaii’s sixth-largest island, from David Murdock’s Castle & Cooke. Financial details of the transaction were not disclosed, although the price is estimated at more than $500 million. The Pacific Business News reports that […]
United Therapeutics Buys 3 Buildings in Research Triangle Park for $17.5M
by Adriana Pop, Associate Editor United Therapeutics Corp. has paid GlaxoSmithKline $17.5 million for the purchase of three buildings in the Research Triangle Park. The property sits on 135 acres of land adjacent to United Therapeutics’ 55-acre manufacturing facility and encompasses approximately 720,000 square feet of office and laboratory research space. The Research Triangle Park’s […]
The Palisades Purchased; Mooresville Luxury Equestrian Property to Be Auctioned
By Eliza Theiss, Associate Editor Standard Pacific Homes has purchased a 1,100-home site at the 1,600-acre master-planned community—The Palisades—on the shore of Lake Wylie, N.C. The value of the deal has yet to be disclosed, but according to a Standard Pacific Homes press release, the purchase is the largest community land transaction of this caliber […]