National
Michigan to Auction 140 State Properties
By Veronica Grecu, Associate Editor The Michigan Department of Natural Resources (DNR) and the Michigan Land Bank Fast Track Authority (MLB) jointly announced the sale of 140 properties located throughout the state—but primarily in northern Michigan—in a sealed-bid auction that started on June 20. Comprising more than 2,400 acres, the properties are suitable for a […]
Lincoln Property Company Brokers New Orlando Lease for URS Corp.
URS Corp.—a fully integrated engineering, construction and technical services organization—has signed a new five-year lease of 16,500 square feet of office/flex space at Discovery Lakes I in Orlando.
Chicago Lakeside Development Recognized as a Top Sustainable Solution at Rio+20
By Gabriel Circiog, Associate Editor The United Nations launched its newest worldwide initiative “Sustainia100” at the Rio+20 conference in Rio de Janeiro. The initiative, which focuses on sustainability solutions and sustainable cities, was celebrated by nominating 100 world leading projects and undertakings. In the presence of international sustainability icon Gro Harlem Brundtland, media personality and […]
Samaritan Closes on $147M Tax-Exempt Bond to Finance Seniors Community
by Adriana Pop, Associate Editor Nonprofit Samaritan Housing Foundation Inc. will be obtaining $147 million in tax-exempt resource bond financing to fund the construction of SearStone Senior Citizens Community in Cary. According to CityBizList Atlanta, law firms Krevolin & Horst and Peck, Shaffer and Williams LLP arranged to secure the bonds issued by the Public Finance Authority. Bond […]
Buncher’s $400M Mixed-Use Project in Strip District Passes First Test
by Adriana Pop, Associate Editor The Pittsburgh City Planning Commission has approved the establishment of a special planning district for Buncher Co.’s estimated $400 million, 37-acre mixed-use development in the Strip District. The project, called Riverfront Landing, will also need to go before the City Council for approval. Under the plan, Buncher is proposing at […]
Construction of $350M West Oahu Shopping Center Postponed
by Adriana Pop, Associate Editor DeBartolo Development LLC announced that construction on the first phase of its $350 million Ka Makana Ali’i regional shopping center in East Kapolei has been delayed until early next year. The initial part of the project calls for the development of a neighborhood center that will feature a grocery and […]
Cassidy Turley-Managed Building Awarded ENERGY STAR Designation
By Georgiana Mihaila, Associate Editor The U.S. Environmental Protection Agency recently presented its ENERGY STAR designation to the Boys and Girls Clubs of America Headquarters in Atlanta in recognition of the facility’s commitment to protecting the environment through energy efficient practices and management. The six-story, 143,000-square-foot building at 1275 Peachtree Street in Midtown is managed […]
Investor Trio to Breathe New Life into Avenue Tower
By Adrian Maties, Associate Editor With Downtown Cleveland’s occupancies approaching 96 percent and growing, according to Metro Trends, a local group of investors is hoping to acquire the residential portion of the Avenue District condominium tower downtown and rent out the empty apartments. Located at the intersection of East 12th Street and St. Clair Avenue, the […]
Hawthorne Center in Blue Ash Sold to Georgia Real Estate Firm for $16.6M
By Adrian Maties, Associate Editor OA Development, a commercial real estate investment firm based in Atlanta, has purchased the Hawthorne Center, a 135,000-square-foot Class A office building in Blue Ash. The $16.6 million deal represents the company’s seventh acquisition in less than 18 months. The low-rise building was constructed in 2001 on more than seven […]
Kennedy Wilson Snaps Up West Covina M-F Complex for $44M
By Alex Girda, Associate Editor Kennedy Wilson has acquired Torrey Pines, a 251-unit apartment community in West Covina, for $43.7 million. Kevin Hart, president of the firm’s multi-family group, explained that the property’s position as “the newest market-rate apartment community in the city,” combined with a dearth of new product in the pipeline, made it an […]