Washington State University recently hosted a ceremonial groundbreaking for Schweitzer Engineering Hall, a state-of-the-art educational building. The 60,000-square-foot hall will be built on an existing parking lot south of Carpenter Hall on WSU’s Pullman campus. Washington State University selected a team comprised of general contractor Lease Crutcher Lewis and architect ZGF to build the Schweitzer …
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Cushman & Wakefield brokered the sale of SOLIS, a multifamily property located in the Capitol Hill submarket of Seattle, Washington. The property was acquired by The Mondivan Group, a Vancouver, British Columbia-based boutique real estate development company, for $28.5 million, equating to $633,333 per unit. The team of Sam Wayne, Tim McKay, Matt Kemper, and …
Construction has started on the long-awaited Scheels Sports Park, a $67 million sports complex and sports tourism destination, reported the Illinois Times. The complex will include turf fields for soccer, softball, rugby, lacrosse, football, and baseball, while a 190,000-square-foot domed structure will have eight basketball courts, 16 volleyball courts, and turf training areas. City officials …
BGO Industrial Real Estate Income Trust has acquired a 34.2% indirect ownership interest in a portfolio of industrial assets in the Midwest valued at approximately $948 million. The acquisition, known as the “Seed Portfolio,” consists of 29 industrial buildings totaling over 9.4 million square feet located in Cincinnati, Kansas City, St. Louis, and Kenosha, Wisconsin. …
Princeton International Properties has added new five-year leases totaling over 11,000 square feet to 90 Broad Street. FHI Studio will occupy 4,977 square feet on the 11th floor, Student Sponsor Partners has leased 4,463 square feet on the 4th floor, and Then and Now Windows has committed to 2,195 square feet on the 17th floor. …
Norway’s sovereign wealth fund, Norges Bank Investment Management, has acquired a 45% stake in a planned 900,000-square-foot office tower at 343 Madison Ave in Manhattan, near Grand Central Terminal. Norges Bank and Boston Properties will form a joint venture to develop the project. Bloomberg reported. The joint venture signed a 99-year ground lease with the Metropolitan …
Development and rental housing firms continue to face significant challenges, the National Multifamily Housing Council said Wednesday, citing its latest NMHC Quarterly Survey of Apartment Construction & Development Activity. Delays in construction, a lack of financing options and overall economic infeasibility of projects caused by rising interest rates all are factors. Delays are still expected in …
Eastern Union has secured a $19.6 million construction loan for the conversion of a former healthcare complex into a multifamily property at 600 Bond Street in Bridgeport, CT. The names of the borrower and lender were not disclosed. The 131,075-square-foot facility, built in 1971, will undergo extensive renovations to become a 150-unit, two-story apartment building …
Canvas Worldwide, a full-service media communications agency, is establishing its New York City headquarters at 75 Varick in Hudson Square. The seven-year lease covers 18,149 square feet on the second floor. “Ultimately, we opted to stay at 75 Varick because it aligns with our growth ambitions. Its versatility complements our business’s dynamic expansion,” said …
UPSIDE Foods, a leading cultivated meat, poultry and seafood company, will locate its first commercial-scale production facility in Glenview, Illinois. The 187,000-square-foot facility in Glenview will open with the production of ground-cultivated chicken products, with plans to expand to other species and whole-textured formats in the future. The plant will support Illinois’ ecosystem and add …
Federal Plaza in Rockville, Maryland, is set to welcome two new dining options: Torchy’s Tacos and Kura Sushi. The former Ruby Tuesday location will house both restaurants. Torchy’s Tacos will occupy 3,961 square feet at 12266 Rockville Pike, opening in early 2024. This will be the restaurant chain’s first location in Maryland. Kura Sushi, known …
Bonaventure, an integrated alternative asset manager specializing in innovative lifestyle multifamily communities in the Mid-Atlantic and Southeastern regions, has appointed Andy Marshall as senior vice president and head of Capital Markets. Based in Atlanta, Georgia, Marshall will play a crucial role in Bonaventure’s capital raising efforts, as well as support marketing, investor relations, and new …
TA Realty LLC, a provider of real estate investment management services, has promoted Allison O’Rourke and Dave Buxbaum to partners. In their new roles as Partners, O’Rourke and Buxbaum will continue to lead efforts to expand TA Realty’s data center portfolio and oversee asset management and marketing functions in this asset class. Allison O’Rourke has …
FoxRock Properties has secured a $27 million refinancing deal for One Heritage Drive, a 172,849-square-foot office building located in Quincy, Massachusetts. Metro Credit Union provided the five-year, fixed-rate loan. One Heritage Drive is set to undergo renovations in 2023 and is currently fully leased to Granite Telecommunications, which will use it as their new corporate …
Interra Realty brokered the $2.25 million sale of a seven-unit apartment building in Chicago’s Old Town neighborhood. The transaction equated to $321,428 per unit. Interra Director Harrison Pinkus represented the confidential seller. Senior Managing Partner Joe Smazal represented the private buyer, who assumed the debt from the seller. The property, located at 1338 N. LaSalle …
The real estate community recently came together at “Debbie’s Buck-It Bash” in a heartfelt tribute to the late Debbie Frank. The event serves as the flagship fundraising initiative for the Debbie Frank Legacy Fund. Frank worked in Golub’s commercial leasing division for 14 years. Her legacy is characterized by her commitment to empowering women throughout …
AmTrust RE is betting big on the value of improving office amid the flight to quality and the national real estate owner-developer plans to invest $50 million for a capital improvements program at two of its marquee Chicago office properties. The improvements at One East Wacker and 33 North Dearborn will include hospitality-inspired setting, offering …
Skanska, a leading construction and development firm, is piloting a zero-emissions electric excavator on Los Angeles Metro’s Purple (D Line) Extension Transit Project. The Volvo EC230 is the largest electric excavator of its kind, and it is designed to have the same capabilities as a diesel excavator. Because it is powered by batteries, not an …
New York-based BGO Industrial Real Estate Income Trust, Inc. (BGO IREIT) has acquired an indirect 34.2% ownership interest in a portfolio of Midwestern industrial assets (the “Seed Portfolio”) valued at approximately $948 million, in exchange for 13 million units of its operating partnership. The purchase price was approximately $130 million, and the portfolio consists of …
CBRE appointed Dean Hunt as executive managing director and market leader for its Los Angeles North Region business. He will develop implement strategic direction and day-to-day leadership for all Advisory Services lines of business across all property types for the Glendale, Woodland Hills and Oxnard/Ventura offices. Hunt brings more than 23 years of commercial real estate …
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