A park-for-retail swap Longview, TX voters approved last year is still waiting to happen. Specifically, the land making up Hinsley Park at Hawkins Parkway and US 259 in Longview is still waiting to lose its park designation, for development of a retail center. According to Craig Carney, one of the developers, the new park, on different …
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Dallas-based Prescott Group will launch an $11 million renovation on its recently-purchased office building at 316 W. 12th St., near the Texas Capitol Building in Austin. Prescott acquired the property, now called Westview, from the Texas State Teachers Association, which had been the owner since 1952. Plans call for adding a floor to half the …
Following a thorough search of likely locations, the Dallas Morning News has targeted the Statler Library on Commerce Street in downtown Dallas for its editorial operations. Officials with the publication signed a letter of intent with landlord Centurion American Development Group, and if all goes according to plan, editorial and advertising personnel could be in …
Five Texas cities made the top 10 on the WalletHub 2016 “Fastest Growing” list. Frisco and League City came in one and two. Midland and McKinney took the eighth and ninth spots, while Bryan came in 10th. Cities following were Odessa (12), College Station (15), Mission (18) and Pearland (19). The research company came to its …
AdCare Health Systems Inc. headquartered in Atlanta, GA, sold nine skilled nursing centers in Arkansas to the centers’ operator, Skyline Healthcare LLC. The seller received $52 million from the sale of the assets. The seller will use the proceeds to repay mortgage or other debt. Skyline Healthcare signed a master lease and option to purchase …
A local partnership controlled by the De La Vega Group acquired 90 acres in north Fort Worth. Transwestern’s Steve Williamson brokered the transaction between the buyer and seller, Diversified Real Estate Group. De La Vega Group’s plan for the acreage at Interstate 35W and Heritage Trace Parkway is to build a 500,000-square-foot retail, restaurant and …
Douglas Harmon and Adam Spies, long-time New York investment sales brokers with Eastdil Secured, have gone over to Cushman & Wakefield. The duo, who joined the firm on Oct. 6, are chairmen of Cushman’s capital markets division. In addition, Kevin Donner, who was a managing director at Eastdil, is also making the move. Harmon and …
Shopoff Realty Investments bought the 624-unit Sky Pointe Apartments in northwest Las Vegas. The Irvine, CA-based investor paid $72.6 million to Investcorp International Realty for the complex at 5850 Sky Pointe Dr. “This apartment community is located in a terrific neighborhood, but is in need of an update,” said Shopoff CEO William Shopoff. “As a …
Cost estimates of real estate damage to the southeast United States in the path of Hurricane Matthew could amount to between $4 billion and $6 billion. According to statistics from CoreLogic, this total takes into account only insured commercial and residential real estate. This does not include losses for uninsured properties. Nor does it take …
While open offices are a hot topic of the times, studies are showing the negative impacts that may result from open floor plans. For one, the Center for the Built Environment at the University of California, Berkeley indicates that the lack of “speech privacy” is heavily weighing on employees in such open-plan offices. Rather than moving …
Snapchat’s parent company, Snap Inc., is reportedly considering an initial public offering that values the company at $25 billion. That number is significantly higher than the company’s most recent valuation of $17.8 billion. The last technology company with valuation so high was in 2014, when China’s e-commerce company Alibaba went public. According to sources, Snapchat’s IPO may …
By Dennis Kaiser Connect Inland Empire 2016 brought together more than 300 CRE leaders for an information-packed conference at the Cal Aero Aviation Country Club in Chino, CA. The event featured a keynote conversation with Ontario International Airport Authority’s Kelly Fredericks and the County of San Bernardino’s Greg Devereaux on the future of the Inland Empire. …
Irvine, CA-based Steadfast Apartment REIT completed the $66.05-million acquisition of Lake Ray Hubbard, a 334-unit garden-style apartment community in Rockwall, TX, from an undisclosed seller. It is the eighth acquisition by Steadfast in Texas. The 96%-occupied community near Dallas was developed in 2009, and includes 42 buildings offering one- to four-bedroom floorplans that average 1,118 …
Draxlmaier Group is investing $24-million in improvements at The Oaks Logistics Center, a 72.6-acre industrial development in Livermore, CA. The 290,000-square-foot facility is the automotive supplier’s first-ever manufacturing plant on the West Coast. The investment is expected to help the German auto components manufacturer expand into California’s burgeoning electrical vehicle industry. It includes plant infrastructure upgrades, …
San Diego-based Affirmed Housing received unanimous San Diego city council approval to move forward on a proposed $44-million, 128-unit, mixed-use development in the Encanto neighborhood. The affordable housing developer was selected by Civic San Diego to develop retail, and affordable market-rate homes on a vacant 8.5-acre parcel of city-owned land. The development at Hilltop and …
The latest Institute of Applied Research and Policy Analysis report from Cal State San Bernardino shows that manufacturing grew for the second straight month in Riverside and San Bernardino counties. The Report on Business for September showed a rebound in the manufacturing sector from July, though it was slightly down from August. The survey of …
The Texas Permian Basin Petroleum Index in August posted its first monthly increase in 21 months, increasing by a tenth of a point to 208.6 from July’s 208.5. While this didn’t make economist Karr Ingham giddy, he did allow that “the turn upward is a long-awaited milestone.” He also noted that the monthly average rig …
Chicago-based Brennan Investment Group LLC now owns a three, building, 192,060-square-foot industrial property in Georgetown, TX, due north of Austin. The campus is 100% leased to Manitex Inc., which provides lifting and loading products. The price was undisclosed, with the Williamson Central Appraisal District valuing the property at 3000 S. Austin St. at $5.2 million. …
G&G Construction has begun dirt work on a new Best Years Center in Beaumont, TX. The new senior center at 150 Magnolia Ave. will go north at a cost of approximately $6.1 million, and completion is anticipated by March, 2018. G&G is currently excavating the site, and will soon add stabilizer soil to the hole, …