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Rockefeller Group and Stonebridge will modernize and re-imagine the full-block, 48,401-SF parcel, which hosts Metro's office property, the Jackson Graham Building.
Klee, who held several executive positions at GE, served as GE's vice president of Boston development and operations and led the search for GE's new headquarters and eventual move from Fairfield, CT to Boston.
As young professionals continue a mass exodus from higher cost of living areas, employment opportunities coupled with the absence of state income tax make Texas and Austin the epicenter of this migration.
The 175,000-square-foot office building is fully leased to Axalta Coating Systems, which maintains its corporate headquarters at 2001 Market St. in Philadelphia and its North American headquarters at 50 Applied Bank Blvd. in Glen Mills, PA.
Private equity investment firm Pebb Capital and TriArch Real Estate Group, a New York-based real estate investment and management firm, has sold The Alabama, a trophy student housing asset located at 15 E. 11th St. for an estimated $104 million.
A temporary injunction against the Department of State guidance barring tenant-paid broker commissions has many asking could the court deem it as justified since it is not law but a litigation position? Leni Morrison Cummins, a real estate attorney at Cozen O'Connor, tells GlobeSt.com.
"Many investors are counting on demand for apartments to remain relatively consistent even if the economy weakens due to demographic and social trends."