National
Marketplace at Tech Center in Newport News Hits 70% Pre-Leased Mark
Marketplace at Tech Center is the retail component of the $250 million Tech Center at Oyster Point mixed-use development, in the heart of Newport News. Although work on the project only started this march, the center is already 70% preleased. Divaris Real Estate, Inc., a Virginia Beach company hired to lease and manage the retail center upon its completion, made the announcement on July 7.
Thrive Senior Living Breaks Ground on The Tribute at Heritage Village
Thrive Senior Living plans to construct several senior living communities in the Washington, D.C. metropolitan area. The Atlanta-based developer is working on the projects together with Harrison Street Real Estate Capital, an industry leader in senior housing investment, and Palomino Capital, a Dallas-based venture specializing in platform-based growth investments. On July 1, it started work on the first property in the portfolio.
94-Unit Residential Building to Rise on Empty Lot at 810 Arch Street
With the grand opening of the JBJ Soul Homes not too far in the past, a new affordable housing complex backed by Project H.O.M.E. is set to break ground this September.
Old Fire Station in Downtown Detroit to Become The Foundation Hotel
The former Detroit Fire Department headquarters building located across from Cobo Center will no longer be an eyesore for the city thanks to a Chicago-based hotel group who wants to revive the historic fire station.
Amstar Sells $44M Retail Asset to TIAA-CREF, Lists 45-Acre Commercially Entitled Tract Cool Springs
HFF has announced the closing on the sale of the 95,000-square-foot Southside at McEwen, a high-end trophy grocery store located in the Nashville MSA. The commercial real estate and capital markets services provider marketed the Whole Foods-anchored property on behalf of the seller, Amstar. The sales team was led by managing directors Jim Hamilton and Richard Reid and senior managing director Mark Sixour.
Potential Alameda Point Developers Line Up for Development Opportunities as Initiative Gains Momentum
Local authorities have long tried to get a major development project going at former Navy base, Alameda Point. Currently, nine different development teams have submitted their applications in response to a request for qualifications, in order to have a shot at working on the 82-acre parcel located on San Francisco Bay. The list of applicants is currently under review by local authorities. The city previously issued a request for quotation (RFQ) for a 68-acre residential and commercial mixed-use project along the main entrance to Alameda Point.
Glendale Office Complex Trades for $9M; Pacific Realty Advisors Plans Industrial Project in Mesa
Cassidy Turley recently announced that Select Healthcare Solutions, LLC, Phoenix Cyberknife and Radiation Oncology Center, LLC have acquired Zanjero Falls for $9.1 million, a 147,405 square foot office property situated at 7410 N. Zanjero Boulevard in Glendale.
Finmarc Management Acquires Two-Building, 150,000-SF Office Portfolio in Alexandria for $31.5M
Finmarc Management, Inc. continues its expansion in Northern Virginia with the acquisition of a two-building office portfolio in Alexandria. The Bethesda-based commercial real estate company paid $31.5 million to buy Waterfront Center I and II from Gates Hudson.
Inland Real Estate Corp., PGGM Buy Phase I of Newport Pavilion
Inland Real Estate Corporation is expending its presence in Cincinnati. In a joint venture with Dutch pension fund advisor PGGM, the real estate investment trust has acquired Phase I of Newport Pavilion, a 471,800-square-foot grocery-anchored power center in Newport, Kentucky. The retail property changed hands for $43.3 million in cash.
The JCR Cos. Buys Retail Space at Lorton Station Town Center for $13.8M
The JCR Companies continues to expand its D.C. area retail portfolio. Shortly after scooping up a 2,710-square-foot retail building housing Cork & Fork, in the heart of the thriving 14th Street corridor, the real estate investment firm has acquired 51,800 square feet of retail space at Lorton Station Town Center. The price of the transaction was $13.8 million. Regency Centers was the seller.