Development

JERSEY CITY, NJ—The firm anticipates 2016 dispositions to total approximately $730 million, consisting of 27 office buildings totaling 4.5 million square feet and one residential building with a GAAP NOI yield of approximately 5.5% overall.

CHICAGO—The enthusiasm shown by attendees to ICSC's annual conference here has been growing every year, and now it may have matched the events held before the recession.  

CONCORD, CA—Acquisition and construction financing of $72 million was acquired for both phases of Renaissance Square, with a 15-year term of three years interest only, followed by a 30-year amortization schedule, GlobeSt.com learns in this <b>EXCLUSIVE</b>.

WHIPPANY, NJ—Named for its previous use, The Powerhouse opened this month, offering enhanced gourmet food services, a multi-function lounge, conference room and a health and wellness center.

MARINA DEL REY, CA—Creative office is the sweeping trend in the office market, but now, California Landmark is creating a luxury multifamily complex to match with its new $30 million D1 development.

HOUSTON—Despite demand being slightly reduced because of oil prices, a multifamily builder says it cannot build townhomes fast enough in the Hadley Building, and will run out of inventory before delivery.

LOS ANGELES—Hollywood and Playa Vista account for 67.1% of new office construction, which illustrates the demand from tenants to be in interesting and innovative spaces.

SAN DIEGO—There is a significant difference between what a new apartment project costs to build or buy today and the pricing on 1970s and 1980s vintage projects, which can typically be acquired for well below replacement costs, Pathfinder's Lorne Polger tells GlobeSt.com <b>EXCLUSIVELY</b>.