National
InterContinental Hotels Group Opens Cleveland’s First Hotel Indigo
The city of Cleveland is welcoming a new hotel brand. InterContinental Hotels Group has opened the first Hotel Indigo in the area. Located in Beachwood, the new hotel is designed to reflect the history and culture of the surrounding neighborhood. It also celebrates the Cleveland Metroparks system, a beautiful and diverse network of green spaces dedicated to conservation, education and recreation and referred to by the locals as the “Emerald Necklace.”
LaSalle Investment Management Buys Phase I of Tysons West Mixed-Use Development
The JBG Companies and JBGR Retail have sold phase one of the Tysons West mixed-use development. LaSalle Investment Management acquired the property on behalf of a separate account client. Eastdil Secured brokered the sale but the price of the transaction was not disclosed.
Sealy Pays $17M for New ShurTech Distribution Center in Oklahoma City
Dallas-based real estate firm Sealy & Company announced the acquisition of a new, high quality distribution center in Oklahoma City.
Company Expansions to Bring 450 New Jobs Clark, Butler Counties
Southwest Ohio is about to get over 450 new jobs. Two companies have recently announced their plans to expand in the area.
Lowe’s $20.5M Call Center to Bring 1,000+ Jobs to Indianapolis
Home-improvement retail giant Lowe’s has officially unveiled its plans to establish a massive call center on the northwest side of Indianapolis that would lead to the creation of up to 1,000 jobs by 2016.
Hotel Equities Celebrates Reopening of 96-Room Courtyard by Marriott Memphis East
In recent news, Hotel Equities (HE) held a ribbon cutting ceremony to celebrate the reopening of the Courtyard by Marriott Memphis East, a recently renovated 96-room hotel. Owned by Batra Hospitality Group Inc., the asset was purchased for roughly $4.2 million in June, 2013. In December of the same year, Hotel Equities had been appointed as manager of the asset.
Simon, Tanger Factory JV Opens $90M Outlet Mall, Charlotte’s First in 10 Years
Simon Property Group, also known as Simon, a global leader in retail real estate ownership, has announced the grand opening of Charlotte Premium Outlets, a 398,421 square-foot upscale outlet shopping center.
BRG Takes Stake in Town Park’s Residential Component
Bluerock Residential Growth REIT (BRG) has announced its plan to co-invest in the apartment community that will be developed as part of the Publix-anchored master-planned mixed use development called Town Park in Orlando.
KBS Subsidiary Eyes Atlantic Station Landmark Tower
171 17th Street in Atlantic Station will change hands soon, as a company affiliated with KBS Capital Markets Group’s Real Estate Investment Trust III has recently entered into an agreement to acquire the office building for the price of $132.5 million or $260 per square foot.
Noble Picks up Marriott Hotel near Miami International Airport
The recently renovated SpringHill Suites by Marriott Miami Airport South is under new management after Noble Investment Group acquired the facility in late July. The property is the second Miami hotel in the organization’s portfolio.