Commercial Real Estate Industry News Headlines | Bizjournals.com
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57 Builders Ltd. gets Ewa Beach fire station contract
The City and County of Honolulu has awarded a contract to 57 Builders Ltd. to build a fire station in Ewa Beach.
Walsh Construction awarded NOAA contract
Walsh Construction Co. has been awarded a $131.9 million contract from the National Oceanic and Atmospheric Administration for construction of part of its new facility at Ford Island in Honolulu.
AutoZone, Mid-America, EDR hit new highs
Three Memphis-based companies closed at new 52-week highs Friday on the New York Stock Exchange on a light day of trading volume before the Labor Day weekend. (AZO) (MAA) (EDR)
Dow up 127 points; Vista Gold up 10%, Janus up 7%
The Dow ended the week with another healthy gain of 127 points. In Colorado, Vista Gold and Janus led actively traded gainers.
601 Tower on the selling block
The 15-story 601 Tower in Minnetonka is up for sale.
Historic downtown building to house latest Hilton hotel concept
Hotel and management company Baywood Hotels has purchased the historic South Texas Building in downtown San Antonio.
$15M police substation planned for Waianae
The City and County of Honolulu plans to build a $15 million police substation on the site of the existing station in Waianae.
Foreclosure Roundup: Riverstone Shoppes faces seizure
The Riverstone Shoppes has become the third retail center in Parkland to be hit with a foreclosure. (FITB)
Pinnacle changes execs, ops at St. Louis casinos
Pinnacle Entertainment Inc. has made management changes at its St. Louis casinos and will combine some back-office support functions to improve margins, the gaming company said Thursday. (PNK)
Milwaukee Catholic Home names CEO
David Fulcher, a former president of Presbyterian Homes of Wisconsin, has been named chief executive officer of Milwaukee Catholic Home, an accredited continuing care retirement community for older adults on Milwaukee's east side.
Research Triangle Park picks N.Y. firm for master-plan update
The Research Triangle Foundation?s board of directors has selected New York City-based design firm Cooper, Robertson & Partners to spearhead the development of a new master plan for Research Triangle Park ? the first update to the park?s master plan since the 1960s. (IBM) (GSK)
Missouri drops appeal of transfer tax ruling
The Missouri Secretary of State?s office has dropped its appeal of a judge?s ruling Tuesday that an anti-tax initiative can appear on the November ballot.
LaMantia expands PRIDE board
PRIDE of St. Louis Inc., a construction labor-management organization led by Executive Director Jim LaMantia, has grown its leadership board to seven.
Granite's industrial properties should draw heavy interest
Granite Properties' sale of its entire $165 million industrial portfolio will be closely watched in North Texas, but will have little long-term impact on the market, industry sources said.
Mariner Holdings unit buys stake in $760M loan portfolio from FDIC
A unit of Mariner Holdings LLC said it closed on a deal with the Federal Deposit Insurance Corp. on Friday to buy a stake in a $760 million portfolio of real estate loans.
Chrysler site analysis to move forward
A group of local business developers have made an offer to buy the shuttered Chrysler plant in Fenton, but the St. Louis County Economic Council and other state and local entities are moving ahead with a $2.1 million market analysis.
Seattle museum needs $10M to avoid default
The Seattle Art Museum is borrowing up to $10 million from its own endowment to avoid defaulting on the loan used to pay for its downtown expansion, according to records filed in King County Superior Court. (JWN)
Sting nets nine at West Sacramento job site
The Contractors State License Board cited nine people who bid on painting and contracting work on a West Sacramento job site this week for contracting without a license and related violations following a sting operation.
Health care company leases Wauwatosa office space
Heartland Home Care, Hospice & I.V. Care is setting up a new office in the Mayfair Crossing building in Wauwatosa.
Pace sells most of Manchester Highlands to Phoenix firm
Cole Real Estate Investments of Phoenix has acquired a major portion of the Manchester Highlands shopping center in Manchester, Mo., from its developer, Pace Properties, for $48.5 million.
Urban Outfitters eyes Midtown Memphis site
Editor's note: This story also will appear in MBJ's Sept. 3-9 print edition, available to subscribers Friday. Be sure to check out our print edition for more business news coverage.
Algae fuel company leases 15,000SF
Heliae Development LLC has signed a 60-month lease at the 202 Business Park in Gilbert. Heliae is a spinoff company that started as part of the algae-based technology program at Arizona State University?s Polytechnic campus in Mesa.
Andrews Federal Campus gets cash infusion
Jackson Shaw Co.?s planned federal campus near Joint Base Andrews Naval Air Facility Washington has received an equity infusion from Phoenix Capital Partners that will allow the developer to break ground on the 80-acre industrial site in early September.
Forsyth to have hearing on Pepsi incentives
The Forsyth County Board of Commissioners will hold a hearing on a request for up to $150,000 in incentives by Pepsi Beverages for a local expansion that would add 195 jobs.
City wants to convert public housing
The Boston Housing Authority wants to convert a high-rise public housing project in the Lower Mills section of Dorchester into a more conventional project with significant subsidies for many residents.
Advanced Disposal buys Georgia waste company
Advanced Disposal Services Inc. said it has bought Metro Hauling Services of East Point, Ga.
Second half of 2010 bodes well for San Antonio?s apartment market, report states
Construction numbers are going down and demand is going up ? two factors that should make for a stronger apartment market over the second half of 2010, according to the latest analysis by Marcus & Millichap Real Estate Services.
Inn at Willowbend to be auctioned
The Inn at Willowbend will be auctioned next month.
Brasfield & Gorrie lands $260M VA job
Brasfield & Gorrie LLC was awarded a $260.3 million contract Aug. 31 to complete the construction of the new Orlando VA Medical Center at Lake Nona, the sixth and final contract awarded by the U.S. Department of Veterans Affairs for development of the $665 million project.
Discovery Communications crisis a reminder to review emergency plan
Workplace experts say the hostage crisis at Discovery Communications Inc. in Silver Spring should prompt all companies and building owners to review their emergency evacuation and continuity of operation plans ? or, if they don?t have a plan, to make one.
Property for Sun Prairie Copps Food sold
The developer of property in Sun Prairie occupied by a Roundy's Supermarkets Inc. Copps Food Center store has sold the property to a joint venture of Inland Real Estate Corp. of Oak Brook, Ill., for $11.7 million. (IRC)
Construction employment falls in Louisville
The number of construction jobs in the Greater Louisville area fell from 31,200 in July 2009 to 30,700 in July 2010, a decline of about 2 percent, according to the Associated General Contractors of America.
Mid-America buys Dallas apartments...again
Mid-America Apartment Communities Inc. finished a hat trick of Texas acquisitions this week with the purchase of The Venue at Stonebridge Ranch near Dallas. (MAA)
BusinesSuites buys two Las Vegas properties
Austin-based national executive office operator BusinesSuites LLC purchased two properties in the Las Vegas market.
Centergate at Gratigny signs freight forwarder
Centergate at Gratigny has signed freight forwarder Miami International Freight Solutions to a lease for 84,000 square feet. The company had been located there for two years on a temporary basis, and signed a lease about a month ago, bringing recent tenant signings to nearly 275,000 square feet and occupancy to about 30 percent.
Buffalo home sales tumbled in July
Home sales throughout the Buffalo Niagara region took a precipitous drop in July, declining to the lowest total in at least a decade for that month.
Globe Engineering adding space
Globe Engineering Co. Inc. is building a new warehouse at its shop at 2924 W. Harry.
CBRE Memphis sells Winchester apartments
CB Richard Ellis Memphis? multifamily division brokered another apartment sale in the city. (CBG)
Savela expands lease at Grandview
Savela Solutions recently renewed and expanded its lease at Grandview office park.
New IHOP on tap near UCF
A new IHOP restaurant is in the works near the University of Central Florida. (IHP)
Pitcairn Properties Holdings files for reorganization
Pitcairn Properties Holdings Inc., the parent company for property developer Pitcairn Properties Inc., has filed for financial reorganization in federal court in Delaware, the company said Wednesday.
Hotel Monaco sells for $68.5M
LaSalle Hotel Properties has bought Hotel Monaco San Francisco for $68.5 million.
Tribune Co. subsidiary moving to Lewisville
Blue Lynx Media, a subsidiary of Chicago-based media firm Tribune Co., has opened a shared service center in Lewisville, where it expects to employ as many as 200.
Insituform gets $5.2M sewer rehab order in Ga.
Insituform Technologies Inc. said Wednesday that it received a $5.2 million contract from the Macon Water Authority in Macon, Ga., to rehabilitate more than 24,000 feet of wastewater pipelines.
Austin real estate round-up: Sept. 1
Here is a round-up listing of some recent deals and announcements in the Austin real estate market since last Wednesday:
Plantation?s Royal Palm sells for $100.4M
The final numbers are in.
VisionShare's lease deal for MinuteClinic space falls apart
VisionShare Inc. won?t be moving into the former MinuteClinic space in downtown Minneapolis, as it had planned.
Promotions and Hirings: September 1
Editor's note: Each day, we will share five items from the People on the Move section we publish each Friday in our print edition. The full list is available only to Triangle Business Journal subscribers. If you are not a subscriber but would like earlier access to the People on the Move section, you can subscribe here.
Merritt Properties closes on land deal for Aberdeen office park
Merritt Properties has closed on a deal to buy 36 acres in Aberdeen, where it plans to build a $60 million office park to accommodate a wave of military workers moving to the region.
Construction spending plummets to 10-year low
Construction spending in the U.S. fell to a 10-year low of $805 billion in July, according to a report from the U.S. Department of Commerce.
Puget Sound apartment market expected to recover
The Puget Sound-area apartment market is expected to recover more rapidly than the rest of the country this year, according to a new study.
Horner & Shifrin opens Springfield, Mo., office
Horner & Shifrin Inc. announced today that it has opened a regional office in Springfield, Mo.
Regency Centers buys $18M Chicago mall
Regency Centers Corp. has bought a 62,443-square-foot shopping center in the Chicago area for $18 million. (REG)
Suddath, Landology buy Indiana golf course
Two Jacksonville companies have formed a joint venture partnership to purchase a golf course in the Midwest for an undisclosed amount.
F1 Austin track map, site revealed
Formula 1 Austin Grand Prix organizers unveiled designs for a 3.4 mile track Wednesday, confirming at the same time its location on a 900-acre site in southeast Austin.
Lee is 30th-richest member of Congress
Rep. Chris Lee, R-Amherst, ranks 30th on the list of Congress? wealthiest members, as compiled by a Capitol Hill newspaper.
Wellington signs contract to buy State Farm campus
Wellington Management Co. has signed a contract to buy the former State Farm Insurance campus in Woodbury.
Heinz profits and sales up in 1Q
Downtown-based H.J. Heinz Co. followed through on its promise at yesterday?s shareholder meeting to release strong first quarter financial results with this morning?s report of a 13 percent increase in profits.
Aethon appoints Newton VP of operations
Aethon has appointed Kevin Newton to be its new vice president of operations and quality assurance.
BRE Properties buys two Calif. sites for $185M
BRE Properties has purchased properties in Sunnyvale and Marina del Rey for approximately $185 million. (BRE)
NewMark Merrill buys Arvada retail center for $3.35M
NewMark Merrill Mountain States has acquired Arvada Marketplace East, a 164,611-square-foot shopping center, for $3,350,000.
AGC: Triangle construction jobs plunge
Both of the Triangle?s metropolitan statistical areas suffered double-digit percentage declines in construction jobs during the 12-month period that ended in July, according a new analysis of federal data by the Associated General Contractors of America.
Kroger plans $20M store with 450 jobs
The Kroger Co. will build its largest Marketplace store in southwest Ohio inside a Centerville shopping center. (KR)
Clear Channel is Tuesday?s stock market leader
San Antonio?s stock market performance was mixed on Tuesday as about half of the city?s publicly traded companies? stock rose in value, while the other half faltered. (AXAS) (ALG) (CFR) (HHS) (KCI) (NS) (NSH) (RAX) (RUSHA) (RUSHB) (TSO) (GROW) (VLO)
Lyon Real Estate CEO steps down following allegations
Mike Lyon will take a leave of absence as chief executive officer of Lyon Real Estate, the company announced Tuesday, following the publication of details of an investigation by the Sacramento County District Attorney?s office into allegations of possible illegal activity regarding videotaping of guests in Lyon?s home.
Superior lags on mixed day for local stocks
Superior Bancorp dropped more than 7 percent in value on an otherwise steady Tuesday for local stocks in trading on Wall Street. (CLP) (RF) (VMC)
Glimcher joint venture buying Honolulu mall
A Glimcher Realty Trust joint venture has a deal to acquire Hawaii?s second-largest shopping mall. (GRT)
Dow up 5 points; Crocs, Newmont Mining up 2%
The Dow gyrated Tuesday and finished up nearly 5 points, closing August down 451 points for the month. In Colorado, Crocs, Golden Star and Newmont Mining were among actively traded gainers.
Ex-Winn exec charged in campaign probe
A former executive at Winn Management Co. ? one of the most prominent operators of large properties in Greater Boston ? was charged Tuesday by federal authorities with hiding the source of contributions to numerous candidates for local, state and federal office.
Isle of Capri swings to Q1 loss
Isle of Capri Casinos Inc. reported a loss of $2.66 million in its fiscal first quarter, compared to a profit of $905,000 in last year?s quarter.
Owner of real estate firm indicted on bank fraud
The owner of a St. Louis-area real estate firm has been indicted for allegedly defrauding Montgomery Bank of more than $100,000 in early 2007, the U.S. attorney?s office said Tuesday.
Berkeley Rep snaps up $6M industrial building in West Berkeley
Berkeley Repertory Theater bought a warehouse and office building in West Berkeley for $6 million. Theater company plans to use the 62,700-square-foot building for rehearsal, administrative operations and production work.
Bham construction jobs down 8%
The Birmingham area lost 8 percent of its construction workforce between July 2009 and July 2010, according to federal employment data analyzed by the Associated General Contractors of America.
Disney Entrepreneur Center move set for April
The Orange County Commission approved the Disney Entrepreneur Center?s planned relocation on Aug. 31 from the Landmark One building on Lake Eola to Orlando Fashion Square mall.
Cascade Bancorp fundraising extended again
Cascade Bancorp (NASDAQ:CACB) still hopes to raise funds that will spark private equity investments from a New Jersey capital provider. Cascade, the parent company of Bend-based Bank of the Cascades, on Tuesday received its sixth extension of a deadline from Ridgewood, N.J.-based investor David Bolger and the New York-based PE firm Lightyear Fund II LP. (CACB)
Florida construction jobs fall 7% year-over-year
The construction industry continues to have a tough time bouncing back from the housing crisis.
Construction jobs decline in Dayton, 275 other cities
Fewer hammers and saws are being used in the Dayton area, as construction employment is down nearly 5 percent compared to last year. However, while there aren?t as many construction jobs in Dayton as there were last year, employment in the sector has grown month to month since the start of the year.
New owners bag Worthington Square Mall
A Dublin real estate advisory firm will join a Texas developer in the redevelopment of the troubled Worthington Square Mall.
Howard County seeks developers for $10M in stimulus funds
Howard County is hoping to use millions of dollars in federal stimulus funds to spark new development projects in the county.
Construction jobs shrink in Atlanta
Some 6 percent of Metro Atlanta construction jobs disappeared from July 2009 to July 2010, according to new analysis of federal employment data released Tuesday by the Associated General Contractors of America.
Real estate loans grow at Mass. banks
The real estate loan portfolios at the 10 largest community banks in Massachusetts increased 2 percent to $16.69 billion during the first half of 2010.
OR&L lands $2M venues job
Owens, Renz & Lee Co. Inc. is expected to start work this week on its janitorial services contract for the city of Orlando?s downtown venues, a three-year contract paying the company $2 million annually.
Former owner of United Medical Center wants hospital back
The former owner of United Medical Center is asking a judge to give the hospital back, arguing that the D.C. government never had the legal authority to foreclose on the property and that Mayor Adrian Fenty and others made several missteps in the days leading up to the July takeover.
Rayonier sells land next to Okefenokee
The Nature Conservancy said it recently bought 1,046 acres adjacent to the Okefenokee National Wildlife Refuge from Rayonier Inc.
Report: North Shore building could go to WPAHS
Scottsdale, Ariz.-based Healthcare Trust of America Inc.?s plan to acquire the Alcoa Business Services Center could come with an eventual plan to turn over the entirety of the building to tenant West Penn Allegheny Health System, according to a trade publication report.
Stonegate Bank to buy Fort Myers bank
Stonegate Bank is continuing its growth tear. The Fort Lauderdale-based bank (OTCBB: SGBK) has signed a deal to merge with Southwest Capital Bancshares, owner of Fort Myers-based Southwest Capital Bank.
Foreclosures rise in July
July foreclosures in Massachusetts spiked nearly 80 percent year over year to more than 1,200 foreclosures, according to a new report from the Warren Group.
Portland home price increase lags nation
U.S. home prices rose an average of 4.2 percent in June. However, the good news is likely temporary as more recent indicators suggest the residential real estate market is cooling since the expiration of a federal tax credit worth up to $8,000.
AmREIT to rebuild Randalls at Woodlake Square
AmREIT Inc. is demolishing and rebuilding the Randalls store as part of the redevelopment of the Woodlake Square Shopping Center.
TriMont cutting 30 Atlanta jobs
TriMont Real Estate Advisors, which expanded into new Buckhead offices just two years ago, is cutting at least 30 jobs at its Atlanta office.
NASA Johnson Space Center earns more gold for going ?green?
NASA's Johnson Space Center has been awarded another Leadership in Energy and Environmental Design Gold certification from the U.S. Green Building Council.
Mid-America buys more Dallas area apartments
Mid-America Apartment Communities Inc. has added another Dallas-area property to its portfolio this week, continuing a string of purchases expected to last through the year. (MAA)
Senkbeil joins Sealy & Co.
Sealy & Co. hired commercial real estate veterans Tom Senkbeil, Bob Cutlip and Klay Simpson for its corporate and regional management teams.
SWS Group posts $2.9M loss
Financial services firm SWS Group posted a net loss of $2.9 million for the 2010 fiscal year as it continues to deal with declining commercial real estate values. (SWS)
California redevelopment fund grab ruling appealed
A California advocacy group on Monday appealed a judge?s ruling that the state could grab $2.05 billion in redevelopment funds to offset budget woes.
Watts Constructors gets contract for Raptor work
Watts Constructors LLC has been awarded an $8 million contract by the Honolulu district of the U.S. Army Corps of Engineers to build structures that will support the F-22 Raptor fleet to be based in Hawaii.
Gauthier Biomedical to build HQ in Grafton
Gauthier Biomedical Inc., a manufacturer of orthopedic surgical instruments, plans to construct a 60,000-square-foot corporate headquarters in the village of Grafton to meet the needs of its expanding business.
Ranching firm to sell West Texas ranch
McCoy Remme Ranches Ltd. has put its 55,374-acre Rockpile Ranch in Jeff Davis County on the sales block.
Trivers wins USPS contract
The U.S. Postal Service recently awarded architecture firm Trivers Associates a contract worth up to $5 million.
Pepco hired to upgrade One Judiciary Square
Pepco Energy Services has been hired by the District?s Department of Real Estate Services for an energy efficiency retrofit at One Judiciary Square. The contract is worth $7.5 million. (POM)
Hollywood lawyer sentenced to prison
Hollywood attorney Peter N. Price, 49, was sentenced Friday to three years and 10 months in prison after pleading guilty to mortgage fraud, partly in connection with his own home refinancing.
YWCA picked to run homeless shelter for women
The YWCA of Greater Cincinnati was selected by a review panel to operate a new emergency shelter for homeless women.
Swerdlow says project on, despite Miami-Dade inspector?s objections
Coconut Grove developer Michael Swerdlow said his plan to build an office tower near Jackson Memorial Hospital remains in play, despite the critical report from the county.
?Thorn in the side? Aurora Avenue North motels up for sale
A set of motels on Aurora Avenue is being put up for sale after a settlement agreement between the city attorney and motel owners over tax violations.
350 acres switch hands in Somers
A 154-acre property in Somers in Kenosha County that was slated for a housing development was purchased this month by Paul Gitzlaff, who will use the property as farmland for the foreseeable future.
Engineering firm moving to Milwaukee
Burns & McDonnell, an engineering firm with offices around the country, is setting up a new location in Milwaukee.
Sacramento County planning department to charge fees for service
Sacramento County is changing the way it charges fees for planning department services, moving to more of a fee-for-service model that will become effective Sept. 23, the county has announced.
S.F. Fed says immigrants are good for the economy
New research from the San Francisco Federal Reserve bank concludes that immigrant workers expand the economy and increase income per worker.
PKF report: Hotel room revenue decrease expected in Tampa Bay
Tampa Bay area hotel revenues may be on the decline in 2010, contrary to gains in most major U.S. lodging markets.
Former Baltimore-area Boscov's stores to be auctioned
Three former Boscov?s department stores across Greater Baltimore are headed to auction.
RadioShack leases three Kansas City spaces in expansion push
RadioShack has leased three new spaces in the Kansas City metro area ? two for retail locations and one for a district office ? as it pursues local expansion.
Louis Vuitton pulling distribution from Memphis, 51 jobs lost
Memphis? industrial market is getting a little less luxurious.
Mid-America buys Dallas apartments for $31.25M
Mid-America Apartment Communities Inc. is continuing to snatch up multifamily properties in 2010. (MAA)
Digital Realty Trust, Behringer Harvard collaborate on data center
Digital Realty Trust Inc. has acquired a 50 percent equity interest in Santa Clara Tech Center, which was previously owned by Behringer Harvard. (DLR)
Statler bid accepted; more hurdles await
Mark Croce and James Eagan have cleared a major milestone in their effort to acquire the mothballed Statler Towers.
Equinix plans $63M Hong Kong data center
Equinix Inc. said Monday it plans to build its second data center in Hong Kong for $63 million. (EQIX)
Isle of Capri director Brackenbury retires
John Brackenbury notified Isle of Capri Casinos Inc. on Aug. 23 that he will retire from his board and committee posts with the company and its U.K. subsidiaries, the company said Friday in a regulatory filing.
Mercy opens new data center
Sisters of Mercy Health System officially launched its new $60 million data center in Washington, Mo., today.
After plummet, Dayton industrial sales rebound
There?s good news and bad news when it comes to the buying and selling of local warehouses, distribution and manufacturing space. The good news: sales activity has started to rise. The bad news: the sales volume is down more than 57 percent from its peak in 2005.
Vacancy rates show improvement, yet remain sky high
Industrial property sales may be on the rise, but the vacancy rate among those buildings remains high.
A tale of two retail centers: CityScape vs. Arizona Center
The much-anticipated CityScape is opening in downtown Phoenix. The mixed-use development and its older sister six blocks north, the Arizona Center, have a number of parallels and differences.
Presbyterian mulls $750K office at Sandy Ridge Road
The Presbyterian Homes Inc. is postponing plans to build a 5,400-square-foot office building at its River Landing at Sandy Ridge retirement community in Colfax.
Big player: Samet Corp. aims to tackle Triad?s largest projects
Samet Corp. is looking to cap off its first half-century of commercial construction in the Triad with what would be one of its biggest projects to date, the massive 850,000-square-foot Caterpillar axle factory in Winston-Salem.
Few banks looking to expand branches finding good buys
TAMPA ? Three years of bureaucratic red tape would have many business owners fuming. But not Scott Jaffe. (BBX) (BBT) (JPM)
CityScape venues hopeful they?ll buck downtown trend
Restaurants and drugstores open and close regularly in big cities. But when those types of businesses open in downtown Phoenix, it?s a big deal.
CRE column: Phoenix architect takes design professionals on tour of Tuscany
August brought the premiere of Julia Roberts? new movie, ?Eat Pray Love,? which includes a delightful interlude in Italy. But not everybody from Phoenix will have to be satisfied with a celluloid version of Tuscany.
Statler interest rekindled
After more chapters than a Charles Dickens novel, the latest installment on the mothballed Statler Towers is expected to be written in the next few days.
M+W USA grows to 270 workers as HQ leaves Texas for Albany
M+W U.S. Inc.?s local work force has grown by 150 employees to 270 since the construction company announced plans to move its headquarters from Texas to New York six months ago.
Carrow among developers planning townhouses for 55+ crowd
Carrow Real Estate Services in Albany is broadening its reach beyond managing six million square feet of office space.
Las Olas Riverfront retail center set for sale in September
The 245,000-square-foot Las Olas Riverfront retail center in downtown Fort Lauderdale, once a popular destination that today is half-empty, is to be sold next month.
Downtown Springfield sees rebirth
Despite coming off a rough couple of years, the city of Springfield is in the midst of what officials there hope will be a revival of its downtown, potentially sparking a larger economic boom.
Gunster law firm sets its sights on Tampa and Orlando
The Gunster law firm is among a few law South Florida practices that have reported growth, despite the recent real estate market collapse and recession. The firm has major offices in Miami, Fort Lauderdale, West Palm Beach, Jacksonville and Tallahassee, with smaller offices in Vero Beach, Stuart and Palm Beach. Gunster also is one of the few larger South Florida firms to be based in West Palm Beach.
Mid-America set for acquisitions
Mid-America Apartment Communities Inc. is using its extensive credit line and a sagging economy to bolster its multifamily holdings throughout the Sunbelt region.
Brixey & Meyer eye new office
Brixey & Meyer Inc. has plans to build a new headquarters in Miami Township.
IPS adds operations to Collierville plant
Shortly after finalizing its purchase of Los Angeles-based American Brass & Aluminum Foundry, IPS Corp. now plans to move those operations to its Collierville facility. The move is expected to create 25 jobs by next year.
SoBe hotel to be redeveloped
The Ritz Plaza Hotel in South Beach is moving forward with a $65 million redevelopment.
Discount grocery Aldi to enter S. Fla.
Discount grocery chain Aldi is entering South Florida.
DEAL OF THE WEEK: Applied Medicals
A diabetes supplies company has leased 17,000 square feet in the Roper Building, at 230 E. Flagler St., in downtown Miami.
Durham downtown?s historic revival
DURHAM ? The Victorian-style house with a wide wrap-around porch in Durham?s historic Cleveland-Holloway neighborhood has certainly seen better years.
A new code
Lee Adams is excited about Memphis? new development code.
Foreclosure Roundup
Site of demolished West Palm Beach condominium in foreclosure The remains of an imploded condominium tower in West Palm Beach are slated for foreclosure.
How will the Unified Development Code affect commercial real estate development across the county?
Ron Belz
President, chief operating officer
Belz Enterprises Inc.
Mary Baker
The Shelby County Commission adopted the Unified Development Code on Aug. 9, followed by the Memphis City Council on Aug. 10.
Major U.S. 401 project 5401 North looks for restart
RALEIGH ? Major new plans are surfacing for a $750 million real estate development project proposed for a tract of farmland at the intersection of Interstate 540 and Louisburg Road.
Station unknowns will not delay rail project
The state will begin building the Milwaukee-to-Madison controversial high-speed rail project this year with or without planned stations in Brookfield and Watertown, where local officials are challenging station costs.
Delta Air Lines has buyer for old Northwest Airlines HQ
Delta Air Lines Inc. is asking the city of Eagan to break up a 125-acre site occupied by the former Northwest Airlines headquarters, to facilitate a sale of the building to an undisclosed buyer.
Science Center to construct an $80M office/lab building
The Science Center is seeking to break ground by the end of this year on a new building, estimated at $80 million, that will house office and lab space. With the addition, the center will be closer to realizing its goal of adding 1.85 million square feet in University City.
Transwestern tagged to market Downtown San Antonio's Tower Life Building
The San Antonio office of commercial real-estate firm Transwestern has been awarded the contract to lease the 210,470-square-foot Tower Life Building.
San Antonio?s North Star Mall nets new department store
Los Angeles-based retailer Forever 21 is turning the lights back on in a department store space at North Star Mall previously occupied by the now defunct Mervyn?s discount chain.
Bala property sold to Goodman for $5.4M
BALA CYNWYD ? An office property on City Avenue that was commonly referred to as the Van Sciver building has traded hands in a market where office transactions are still a rarity.
Fuller exits company he founded
John Fuller has split from the Denver commercial real estate company he started 55 years ago because of Fuller Real Estate?s new affiliation with a national brokerage firm. (GBE)
Players Bench retailer makes larger homestand
The Players Bench chain of hockey and lacrosse stores of Denver has consolidated and expanded its headquarters operation near the Denver Tech Center.
Central Arizona College buys 217 acres in Maricopa
Central Arizona College, a community college system that serves Pinal County, is buying 217 acres in the city of Maricopa and scouting for about 200 acres in the San Tan Valley for new campuses.
Polsinelli move adds to vacancies in Downtown Kansas City
Lost amid the discussion of what Polsinelli Shughart PC?s new office building does to the aesthetic of the Country Club Plaza is that the move also will mean another high-profile loss for the downtown office market.
Cole Investment has spent $2B since 2009 on real estate
Flush with cash, Cole Real Estate Investments in Phoenix has paid more than $1 billion to purchase commercial real estate since the beginning of the year and more than $2 billion since early 2009.
Jacksonville port takes aim to be Florida?s biggest in 2012
The Port of Jacksonville aims to increase the number of containers it handles by 25 percent by 2012, and challenge Miami as Florida?s top port, despite forecasts of a slowdown in international trade growth.
Corbin Park court ruling may unblock $10M in subcontractor claims
A coming ruling in Corbin Park LP litigation could set in motion how ? or whether ? as much as $10 million in subcontractor claims gets paid out.
SEC investigating former Cole investor
Cole Real Estate Investments became embroiled in a public policy debate in May when a Rhode Island municipal pension fund invested $3 million in the nontraded REIT.
Amelia Plantation purchase fits Omni?s growth strategy
The acquisition of Amelia Island Plantation this week in a bankruptcy auction is part of the luxury Omni hotel chain?s ongoing strategic expansion across North America.
Overseas work draws Valley architects
Two Valley architecture firms are finalists to design major projects in India and China.
DeKalb vows to keep pursuing deal for GM plant
General Motors Corp. faces long odds to find another buyer for its idled Doraville assembly plant in the coming months, after a proposed $110 million deal with a well-heeled Florida developer and DeKalb County collapsed.
$21M sale seen as a good sign for Silicon Valley office market
In a market starved for deals, Union Property Capital bought Cupertino Crossing for $21 million.
De Rito filling Mesa, Scottsdale retail centers
Cabo Sports Grill, a 13,000-square-foot restaurant and entertainment center, is going into the Mesa Riverview shopping center across the street from Toby Keith?s I Love This Bar & Grill.
San Marcos serious about growth
San Marcos has become known to many outsiders for outlet malls, amusement parks and Texas State University. But it has grown up fast during the last 10 years, bucking recessionary trends with job and population growth leading to construction projects and businesses relocating and expanding there.
Defunct Austin office complex to be redone
A doctor and medical office developer plan to revamp a vacant office building bought out of foreclosure in Cedar Park to house a new outpatient surgery center and other medical tenants early next year.
Austin eyes building rules
A near-final draft of the downtown Austin plan, which will standardize design guidelines and zoning change requests, is circulating among city staff and should be unveiled in the next month.
Court ruling shields contractors from others? defective products
The state Supreme Court offered a favorable ruling for Texas construction subcontractors this month, saying manufacturers must shoulder blame for faulty products used during construction.
High-profile commercial brokerage to be split up
A prominent commercial brokerage firm in Houston will cease to exist at the end of the year.
Busy Black Forest keeps branching, buys building in Energy Corridor
Black Forest Ventures LLC continues on its shopping spree for local real estate properties.
High court ruling gives subcontractors Fresh Coat of protection
The state Supreme Court struck a blow for Texas construction subcontractors this month, placing the blame on manufacturers for faulty products used during construction.
Tempe parcel earmarked for Mosaic project set for trustee sale
A vacant 2-acre lot near Arizona State University in Tempe that was supposed to be developed into an condominium tower and a Whole Foods grocery store is scheduled for trustee sale Oct. 26.
EPA again looks for a new Region 7 HQ location
The Environmental Protection Agency, one of the largest employers and office tenants in Kansas City, Kan., is again on the hunt for new digs.
Federal Trade Commission space needs could reawaken years-old D.C. historic building fight
The Federal Trade Commission needs more room to house 280 workers it plans to hire by 2015, while consolidating its three growing D.C. locations ? but that movement could revive a years-long debate over whether the agency should even continue to fill the historic Pennsylvania Avenue building it?s called home since it was first constructed in 1938.
Losing bidder protests major General Services Administration lease award
A local losing bidder for a large federal project ? a new Medical Command Headquarters lease ? is claiming the General Services Administration signed a lease without properly vetting the site.
Petco sniffing out home for 400 office jobs
Petco is sniffing around North Texas for office space in a move that could eventually bring 400 jobs to the area.
Elizabeth Raiford
Title: Principal, vice president of marketing & research.
Decision coming in battle to build hospital in Montgomery County
Montgomery County?s hospital holy war is coming to a climax.
REIT bill could open D.C. up for more foreign dollars
Foreign investors already see D.C. as the best city for real estate investments, but proposed legislation could make Washington and the U.S. even more attractive, bringing additional foreign money into the coffers of real estate investment trusts in the region.
Alexandria developer Charles Hooff lands Orbital Sciences building
Real estate developer Charles Hooff, using proceeds from a contentious 2008 land dispute with the city of Alexandria, has bought a Dulles building filled with some high-flying tenants: rocket scientists.
Bank of Georgetown opening two new branches
Bank of Georgetown is aiming to open new branches in the District and in Tysons Corner.
Lutheran Senior Services? $200 million expansion
Lutheran Senior Services? plan to invest more than $50 million to upgrade its Laclede Groves senior-living campus in Webster Groves is just part of $200 million in planned expansions on the drawing board at the senior-living organization.
Sansone Group adds more medical to lease portfolio
Sansone Group has been named the leasing agent for three local medical facilities owned by Nashville, Tenn.-based Healthcare Realty Trust, adding 185,000 square feet to Sansone?s portfolio of medical buildings.
MRP Realty surviving ? maybe even thriving ? in real estate downturn
If you know Bob Murphy well, chances are MRP Realty?s founder and managing principal has handed you a copy of President Theodore Roosevelt?s ?The Man in the Arena? speech.
Expansion brings more soundstages to Albuquerque's I-25 Studios
Rick Clemente recalls seeing ?Waterworld? and ?Il Postino? on the same day.
Deloitte recalculates headquarters
Deloitte is out to prove that less is more at 555 Mission St.
Target, Dick?s Sporting Goods a step closer to filling space in South Hills Village
The South Hills Village may be one step closer to getting Target and Dick?s Sporting Goods in the former Boscov?s department store space.
Gables Residential to build apartments in Fairfax after long delay
Gables Residential will break ground in early September on a 120-unit apartment complex next to Fair Oaks Mall in Fairfax ? nearly three years after the Atlanta-based developer bought the 1.7-acre patch of land.
Shipyards? 40 acres may become a public park
Forty acres of Downtown riverfront property originally planned as a glitzy, high-rise residential and commercial development could become a public park when the city of Jacksonville takes it over within two weeks.
A developer?s guide to carried interest proposals
Legislation to tax the ?carried interest? of typical real estate partnerships, or limited liability corporations, has been lurking around Washington since 2007, but there are signs the proposal could finally see the light of day later this year.
Renovated TriPoint lands first tenant, saves big with LEED
Two years after TriPoint Business Park underwent a ?green? transformation, landlord AMB Property landed its first tenant.
Regions Bank wants Wells Fargo to foreclose on NASCAR Plaza
The owners of the NASCAR Plaza office tower have defaulted on a $95 million loan, according to a lawsuit filed by Regions Bank, which is urging fellow project lender Wells Fargo & Co. to do whatever it takes to collect, including foreclosure.
Hayward gets big-battery firm Primus
Startup Primus Power Corp. is moving into its first real home with millions of dollars in government and venture capital funding and a plan to double its workforce by the end of 2011.
Webb Law Firm plans move to Gateway Center in Downtown Pittsburgh
After 20 years on Grant Street, the Webb Law Firm is moving to Gateway Center next spring.
MSD project falling short of goals
The goal is 30 percent. The reality is less than 10.
Road Worriers
In the $5.7 billion statewide contest for federal stimulus grants, loans and contracts, Massachusetts road and rail builders are the clear winners. But even the greatest beneficiaries of the American Recovery and Reinvestment Act (ARRA) remain in dire straits, and looking to Washington for help.
American Tower eyes changing into REIT
American Tower Corp., a fast-growing player in the mundane world of telecommunications infrastructure, is in the early stages of radically changing its corporate structure to better shield itself from income taxes and potentially return hundreds of millions of dollars in cash and stock to its shareholders annually.
JLB buys Buckhead site for apartment project
Multifamily developer JLB Partners L.P. recently bought 6.5 acres at Pharr Road and Peachtree Road, where it could launch a new apartment project next year.
First Student Inc., with 600 buses, now has a place to park them all
Cincinnati-based bus company First Student Inc. has signed long-term leases at two Wichita sites that will serve as hubs for its operations in the city.
Ballantyne still on the rise
The Bissell Cos. is moving ahead with construction of yet another speculative office building in Ballantyne Corporate Park.
Village at Waugh Chapel $275M expansion begins
Owings Mills developer Greenberg Gibbons Commercial Corp. has broken ground on a $275 million addition to its Village at Waugh Chapel that is expected to bring 2,600 permanent jobs and major retailers Target and Wegmans Food Markets to Crofton.
