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CHICAGO—Fifield Cos. has just finished the rehab of a historic Daniel Burnham building at 600 W. Jackson, but from now on, developers will probably concentrate on new construction to satisfy office demand.
ARLINGTON, TX—The $200-million, 1,300-unit multifamily project will be built over four phases, with construction of phase I slated to be complete by spring of 2018 and full completion of the project by 2026.
NEW YORK CITY—The move, which was a sale-leaseback deal, comes along with a $1.2-billion refinancing of the property by its owners, Related Cos. and Oxford Property Group.
PHOENIX—Hyatt Hotels Corporation recently purchased the iconic resort for $88.25 million and a record $742,000 per guest room as the resort continues to operate as the Royal Palms Resort and Spa.
CORPUS CHRISTI, TX—Castle Lanterra Properties has acquired San Marin, a 220-unit apartment community, and allocated more than $10,000 per unit for upgrades, further enhancing the potential for rent growth.
AUSTIN, TX—801 Barton Springs' advanced architectural design, views, unprecedented parking ratio, innovative technology package and location in Austin's cultural center stand to set it apart from other office assets.
PHOENIX—RVi's name and existing leadership team will remain in place, maintaining day-to-day operations, with former Golden Associates' Phoenix and Oakland offices becoming part of RVi.
BOSTON—German investment has been strong in Boston. In May, Deka Immobilien acquired 175 Federal St., a 17-story, 227-365-square-foot office building, also known as the Fiduciary Trust Co. building, for $139 million from Blackstone.