National
Hawaii Land Commision Rezones Rural Acreage in Central and West Oahu for Master-Planned Development
by Adriana Pop, Associate Editor The Hawaii Land Use Commission (LUC) has approved the reclassification of approximately 800 acres of prime agriculture lands, paving the way for the development of the $2.2 billion Koa Ridge master-planned community in Central Oahu by Castle & Cooke Homes Hawaii Inc. By a 7-0 decision, the commision approved changes in […]
Shell Evaluates Site in Beaver County to Build $3.2B Gas Processing Facilities
by Adriana Pop, Associate Editor Shell Oil Co. is assessing whether to build a multibillion-dollar petrochemical complex that would process gas locally produced from the Marcellus Shale in Appalachia. Shell said it would reach a decision in 18 to 24 months. Shell Chemical LP signed a land option agreement with Horsehead Corp. in March to evaluate a […]
Waterton Residential Acquires Boutique Seneca Hotel; Two Affordable Housing Projects Receive $11M Support
By Gabriel Circiog, Associate Editor Chicago’s Seneca Hotel has been acquired by Waterton Residential, a subsidiary of Waterton Associates LLC. The boutique hotel, located in the Gold Coast neighborhood, will be restored to a select apartment community, with renovated apartments available for occupancy beginning in mid-June. The 260 newly restored luxury rental residences will be […]
Colorado Hoping to Land Next U.S. Patent and Trademark Satellite Office
By Gabriel Circiog, Associate Editor Colorado state representatives and business leaders are optimistic of the state’s chances of becoming home to a satellite patent office, The Denver Post reports. In 2011, the U.S. Congress approved, under the America Invents Act, the opening of three satellite offices outside of Washington, D.C. by 2014. Colorado missed out […]
Investors Take Koreatown, Mid-Wilshire Apartment Complexes
By Alex Girda, Associate Editor Even if blockbuster investment sales are relatively rare in Los Angeles these days, a steady stream of small- and mid-size multi-family trades are picking up some of the slack. A pair of properties that recently changed hands in the Wilshire District and Koreatown offer two of the latest examples. Ardmore Court (pictured), […]
Lincoln at Wolfchase Sold for $27.75M; Ike’s for $9.5M
By Eliza Theiss, Associate Editor The 408-unit Lincoln at Wolfchase Apartments in Cordova has been recently purchased for $27.75 million, or $66,789 per unit, reports the Memphis Business Journal. Irving, Texas-based investment management firm Archon Group LP, working under the name MLQ-ELD LLC, purchased the asset from Lincoln at Wolfchase Associates LLC. Located at 8230 […]
Suffolk Downs Announces $1 Billion Casino and Resort Plan
Reno, Nevada-based casino entertainment company Caesar’s Entertainment and the owners of Suffolk Downs, a famed thoroughbred race track in East Boston that opened in 1935, have unveiled a long-awaited plan for a $1 billion casino and resort that would boost the local economy and create 2,500 construction jobs and 4,000 permanent jobs.
Design for New 364-Room Fat City Hotel Approved by CCDC
By Gabriel Circiog, Associate Editor The Centre City Development Corp. has approved the design for a 364-room hotel in San Diego’s Little Italy neighborhood. As previously reported by Commercial Property Executive, architect and developer Jonathan Segal had proposed a new residential development, Fat City Lofts, for the site which is just 100 feet away from […]
Mercy Health to Build $75M Patient Tower
By Adrian Maties, Associate Editor Hospital construction in Cincinnati has been booming recently. Cincinnati Children’s Hospital Medical Center has a $180 million research tower underway on its main campus, the largest pediatric research center in the United States, and Christ Hospital is getting ready to break ground this summer on a $265 million project. Now, […]
Parkway Closes $250M Hearst Tower Deal
By Eliza Theiss, Associate Editor Orlando-based real estate investment firm, Parkway Properties, Inc., announced it has completed the high-profile purchase of Charlotte’s fourth largest office building—the Hearst Tower. Closing on the office property was made possible by the $200 million equity investment promised by TPG earlier this year. The 972,000-square-foot, 47-story office tower sold for […]