National
Hartz Mountain Industries Buys Prime Baltimore-Washington Corridor Industrial Asset for $18.7M
Another industrial property has recently changed hands in the Greater Baltimore area. Last week I wrote about several properties which changed hands in the submarkets located to the north of I-95, where the industrial market is performing very well. Now, it’s the Baltimore-Washington Corridor’s turn to make the headlines.
Buchanan Street Buys Stapley Corporate Center in Mesa for $33M
Buchanan Street Partners recently acquired the Stapley Corporate Center, a two-building, Class A office property. Located at 1840 and 1910 South Staple Drive in Mesa, the center was purchased for $32.5 million from The DESCO Group, Inc., the original developer of the center.
Hines Pays $150M for 6-Building Portfolio as Office Sales Pick Up Steam
Office properties in the Cincinnati area are selling like hot cakes. Multiple properties have changed hands in the region during the first two quarters of the year, as the recovering market attracts more and more investors.
La Cantera Hill Country Resort Announces Multimillion-Dollar Makeover
San Antonio, with its stable and diverse economy, driven by fast growing manufacturing and strong military investment, medical providers and energy industries and a flourishing tourism industry with over 26 million visitors annually, demonstrated how it is possible to dodge recession. To keep up with the growing demand, the hospitality sector is highly attentive with the client satisfaction, thus improvement works are part of the blooming industry.
$35M Warehouse District Hotel Sparks Local Opposition
A new 75-foot hotel proposed in the Crescent City’s Warehouse District is heating up talks regarding the city’s master plan and height limitations.
Portland’s Block 300 Receives LEED Gold Certification as Leasing Continues at Newly Renovated Asset
Block 300 in Portland, one of the most high-profile office properties in the Pacific Northwest city has recently completed a major milestone. The property was awarded with LEED Gold certification for Existing Buildings: Operations & Maintenance by the United States Green Building Council. The certification is a result of the recent modifications brought to the asset, a recent renovation process having been carried out at the facility by the owning joint venture between JPMorgan, Starwood Capital Group, and Kaufman Jacobs.
Developers Plan Almost 400 New Apartments for Downtown Cleveland
Although apartment construction in Greater Cleveland has reached a five-year high, it doesn’t seem to want to stop here. Developers continue to announce more and more projects. The two most recent ones are expected to bring almost 400 new units to the city’s downtown area.
Montgomery County Signs Agreement with Washington Property to Develop Silver Spring Homeless Center
Washington Property Company(WPC) and Montgomery County plan to bring a new homeless center to Silver Spring. The Bethesda-based commercial real estate company has recently signed an agreement with the county and expects to break ground on the new facility in about a year.
Lone Star Funds Acquires Office Building for $53/SF; University of Memphis Launches $40M Campaign for New Music Center
Lone Star Funds, LP, a Dallas-based private equity firm, recently purchased the four-story Lakecrest III office building for $6.9 million, according to the Memphis Business Journal. Acquired from Management & Research LLC, the office building spans across 130,593 square feet, from which, 48,000 square feet aren’t leased.
Jones Lang LaSalle Income Property Trust Pays $25.5M for Charlotte Distribution Center
LaSalle Investment Management has announced that Jones Lang LaSalle Income Property Trust, Inc. has purchased the 346,500-square-foot Charlotte Distribution Center in Charlotte, NC for circa $25.5 million.