Commercial Real Estate (CRE) News
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UCI Foundation Appoints Haddad COB
IRVINE, CA-Emile Haddad, president and CEO of FivePoint Communities here, is elected incoming chairman of the board of trustees for the foundation. He begins a three-year term in June 2014.
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Santa Clara Home Prices Still Heating Up
SANTA CLARA, CA-It’s a good time to sell, with average home prices on the rise--owners of single-family homes and condos here are actually getting more than their asking price.
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West L.A. Office, Culture of Change
LOS ANGELES-West L.A. businesses provide a mix of corporate cultures that serve different industries, audiences and employee types, which is ideal from a leasing pool perspective, says Avison Young’s Neil Resnick in an EXCLUSIVE Q&A with GlobeSt.com.
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AXA to Invest $13B in Real Estate Operations
PARIS-Charles Dupont joining firm to head new infrastructure platform, reporting to Isabelle Scemama. Firm has identified several strong opportunities for investment.
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South Beach ACE Wins Palm View Endorsement
MIAMI—The latest endorser represents the residents of Miami Beach’s Palm View neighborhood, which is located directly west of the convention center site.
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379,000-SF Former Amoco Building Sells
NEW ORLEANS-Local commercial real estate developers Joseph and Eddie Hakim acquire the CBD office building from Petra Real Estate Opportunity Trust. Plans are to upgrade and lease up the 68%-occupied building.
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Lofts for Gen Y Open
GLENDALE,CA-In an UPDATE to an earlier report, Elevé Lofts & Skydeck, a housing complex targeting Gen Y, has opened. The 208-unit housing celebrated on its 26,000-square-foot sundeck.
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AG: No Mid-Lease Rent Hikes at Stuy-Town
NEW YORK CITY-The agreement with the attorney general’s office also includes ion mid-lease rent increases for more than 2,000 other tenants at the massive Midtown South apartment complex.
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5M-SF USAA RealCo Portfolio Attracted National, International Bidders
DALLAS-In this UPDATE to a previous article, CBRE's Jack Fraker, who helped represent USAA in disposing of its eight-building portfolio, tells GlobeSt.com that buyer Duke Realty had plenty of competition during the marketing period.
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Rosemont Realty Hires Ellis-Felder
HOUSTON-The Santa Fe-headquartered company hires Michele Ellis-Felder from Transwestern as managing director, leasing, while long-time Rosemont Realty employee Carrrie Powledge is promoted to director, leasing.
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Garmin to Build 60,000-SF Center
CHANDLER, AZ-After five years of leasing in the Chandler Corporate Center, the global positioning satellite company headquartered in Olathe, KS has opted to expand its local operations through a design-build process in the same location.
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NYU and NYCEDC Creating Clean Tech Incubator
NEW YORK CITY-The new facility will be in Downtown Brooklyn, giving the burgeoning Brooklyn Tech Triangle a boost.
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Convention Center Advisory Board Picks Portman-CMC
MIAMI—The final vote by the Miami Beach Convention Center Advisory Board was four to three in Portman-CMC’s favor.
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MGM Pushes Western MA Casino
SPRINGFIELD, MA-Company officials told the Republican newspaper that they’re “not going to take anything for granted” in fostering public support for the project.
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Flex Portfolio Acquired From Special Servicer
HYATTSVILLE, MD-Industrial assets are in high demand in the Baltimore-Washington Corridor, Mark Glagola tells GlobeSt.com's Erika Morphy.
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First Potomac Closes $242M Sale
WASHINGTON, DC-The REIT is exiting the industrial space with this sale to Blackstone Real Estate Partners VII.
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Westphalia Project Secures $46M for Phase 1
PRINCE GEORGE'S COUNTY, MD-When complete the project, Westphalia Town Center, will be a 310-acre mixed use development.
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Former Furniture Store to Become Hilton Hotel
ARLINGTON, VA-B.F. Saul Co. has been given the green light by Arlington County to redevelop the former Colony House Furniture site into a 168-room Hilton Homewood Suites extended-stay hotel.
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Tennessee Courting Fiat-Chrysler
AUBURN HILLS, MI-A new competitor has emerged in the battle to land Italian automaker Fiat’s US headquarters.
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Miami Firm Buys Charlotte Office Park
CHARLOTTE, NC-An affiliate of the Adler Group has agreed to acquire the six-building Carmel Executive Park here from Pizzagalli Properties.
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Former IBM Campus Bid Deadline Extended
RESEARCH TRINANGLE PARK, NC-Those interested in bidding on the 70-acre Park Center office campus here, former home to IBM, now have until June 27 to make an offer.
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Two Deals Signed at 199 Water
NEW YORK CITY-Jack Resnick & Son’s 199 Water St. office building has just secured two deals involving full-floor leases at the 1.1 million-square-foot complex.
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Mayors Seaport City Has Its Critics
NEW YORK CITY-Part of Mayor Michael Bloomberg’s nearly $20-billion storm prevention plan is the development of a SeaPort City aimed at providing lower Manhattan with storm-surge protection, and serving as a catalyst for jobs and economic growth.
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Amtrak Gateway Program: No Choice, Rail Exec' Says
WEST ORANGE, NJ-The overburdened rail system literally cannot continue as is, theAmtrack official behind a $52 billion planned upgrade and expansion of infrastructure between New York City and New Jersey told a NAIOP-NJ group.
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New York Magazine Publisher Inks Deal
NEW YORK CITY-New York Media, the publisher of New York magazine, has signed a lease for more than 80,000 square feet of space at One Hudson Square with building owner Trinity Real Estate.
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Cassidy Turley Consolidates NJ Offices
CHATHAM, NJ-Commercial real estate services firm Cassidy Turley reports it has consolidated its Rochelle Park, Parsippany and Somerset offices and will now have its leasing team operate out of offices at 26 Main St., Suite 202, in Chatham.
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76ers Look to Build Practice Facility at Navy Yard
PHILADELPHIA-The Philadelphia 76ers are looking to eventually build a new practice facility at the Philadelphia Navy Yard Corporate Center.
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E-Com Demand Will Filter Down
CHICAGO—In this UPDATE to yesterday’s story, Avison Young’s Erik Foster says e-commerce investors will look beyond the top-tier assets.
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Construction Lending, Foreign Buyers Trend
SAN DIEGO-Lenders are opening the spigots for construction once again, and international buyers consider the US a safe haven for real estate investments compared to their own countries, say speakers at RealShare Investment & Finance .
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Centerline Refinances North Side Buildings
CHICAGO—The seven loans cover multifamily assets across several upscale or sought-after neighborhoods.
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Trammell Crow Starting Spec Business Center
MINNEAPOLIS—The new center will sit in the middle of the Twin Cities’ metropolitan area and have access to all major highways.
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CBRE Completes Sale of Self Storage Facilities in Hawaii
HONOLULU-Self Storage Industry Continues to be a Targeted Investment Class. Two properties fetch nearly $30 million.
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CT Realty JV Sells Three MF Assets
COSTA MESA, CA-The communities are all within a mile of each other here and were sold to two local private parties.
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RLJ Lodging Picks Up Courtyard by Marriott Waikiki Beach
BETHESDA, MD-The 399-room hotel fetched $189,000 per key. RLJ anticipates growth in RevPAR.
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