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DENVER-The 220,000-sf Supercenter would generate $12.2 million in new taxes between its opening and 2016, compared with about $125,000 in tax revenues generated by the small Asian center currently in the location. Not all are happy with the plan.
ATLANTA-Larry Gellerstedt III, whose family name has been synonymous with top construction projects in the city for 75 years, has formed The Gellerstedt Group LLC and recruited three area professionals to help lead the company to high-profile civic and institutional building ventures and intown residential development.<p>
MINNEAPOLIS-NorthMarq Capital and Legg Mason Real Estate Services sign the final documents in Philadelphia, wedding the two as promised to turn the Minneapolis-based giant into the nation's third largest commercial real estate investment banking firm.
NEW YORK CITY-The sale of the landmark Roosevelt Hotel is nearing as all the bids are in. As many as 17 prospective buyers placed bids on the Midtown property and a deal is expected to be announced.
WOODBRIDGE, NJ-Some 500 real estate professionals are expected to attend the second annual event, which is being held Thursday at the Woodbridge Sheraton Hotel.
KIHEI, HI-San Francisco-based Krausz Cos. acquires the 97%-occupied Piilani Village Shopping Center and the 15 acres it sits on in the city from Safeway Partnership.
CHICAGO-The first residential building in the $2.5-billion Lakeshore East project has about 50 units left to sell a year after sales began. Average sales prices are $371 per sf, or $468,000 per unit.
BOW, NH-The Fairfield, NJ-based hotel owner and manager pays $8.3 million for the property in its inaugural joint venture with an affiliate of Alex Brown Realty Inc. The new duo is planning an overhaul the property.
ORLANDO-In their second multifamily investment of the year, the Rockville, MD-based developer pays Invest Corp. of New York $35.1 million for the newly built, 98%-leased Fountains at Waterford Lakes in east Orange County.