National
Heritage Hotels Announces Plans for 2.6-Acre Boutique Hotel in Old Town Albuquerque
The heart of Old Town Albuquerque will accommodate a new boutique hotel scheduled to open in early 2016. It is the member of the largest independent hotel chain in New Mexico, Heritage Hotels and Resorts, who recently purchased the renowned Eldorado Hotel & Spa. The plans for the multimillion project have been finalized and the development will break ground by late fall.
Lincoln Buys Carlsbad Corporate HQ; El Cajon Industrial Asset Trades for $5.7M
A Carlsbad HQ property and an El Cajon industrial business park have traded hands this past week as San Diego’s commercial real estate market continues its high sales volume.
Mayor Rawlings-Blake Opens Baltimore’s First New Recreation Center Built in the Last 10 Years
A new recreation center has opened in Baltimore this week. Called the Morrell Park Community Center, it is the first new recreation center built in the city in the last 10 years.
PREIT, Macerich $107 Million Investment to Redevelop The Gallery
The Gallery at Market East, one of Philadelphia’s largest urban malls that is located in the heart of the city, is about to get a major makeover. Pennsylvania Real Estate Investment Trust (PREIT), which owns the 1.4 million-square-foot property, announced this week a joint venture with Macerich to revamp the bleak mall into the city’s only multi-use property that will offer accessible luxury retailing in the Center City area.
Corktown’s $148 Million Lightweight Metals Research Hub Could Create 10,000 Jobs in the Region
Corktown—a symbol of the Irish-American community in the United States and Detroit’s oldest surviving neighborhood that is best known for its abandoned Michigan Central Station, the bygone Tiger Stadium and the annual St. Patrick’s Parade—is slowly making a comeback.
StyleCraft Plans 95-Home Neighborhood in Richmond
StyleCraft Homes is planning to build a new neighborhood in Richmond. The home builder announced on Friday, July 25, it will start work in the following months on a new community of villa style homes at Huguenot and Old Gun Roads.
Major Amazon Lease Deal Tightens Pittsburgh’s Industrial Market
Seattle-based Internet giant Amazon.com is planning to expand its network of sortation centers with the opening of a new facility in Pittsburgh’s West End.
BH Management Buys 764 Nashville Apartments for $52M
BH Management Services, LLC (BH) has announced entering the Tennessee market with the takeover of three metro Nashville apartment communities featuring between 200 and 300 units and amenities such as swimming pools, fitness centers and sports courts.
Baltimore’s Historic Union Trust Building is Back On the Market
Baltimore’s historic Union Trust Building is again on the market. Rialto Capital, the owner, has retained Hunter Hotel Advisors as the exclusive representative in the sale of the old property. The asking price for the building was not announced.
Minneapolis Developer Proposes $36M Luxury Apartment Building for Downtown
Minneapolis-based developer George Sherman is planning to construct a 122-unit apartment building near Gold Medal Park in downtown Minneapolis.