Commercial Real Estate News

• Sherman Steps Away from Minneapolis Development Alongside New Thrivent HQ August 14, 2018
  Sherman Associates is pulling the plug on plans to build a mixed-use complex with a 12-story apartment tower and 10-story hotel next to Thrivent Financial’s new corporate headquarters, even as multifamily development surges across Minneapolis. In March, Minneapolis-based Sherman unveiled a proposal for "two-and-a-half" structures immediately to the south of an eight-story office building that […]
• San Diego Region’s Largest Transit-Oriented Development Sold to Joint Venture August 14, 2018
  Los Angeles apartment investment firm TruAmerica Multifamily Inc. and Boston-based real estate investor Intercontinental Real Estate Corporation acquired the leasehold interest in a project billed as the largest transit-oriented development in San Diego County. The property in La Mesa, CA comprises 527 units in two adjacent apartment communities known as Alterra at Grossmont Trolley Apartments […]
• Integra Realty Returns to Atlanta August 14, 2018
  Integra Realty Resources, a national valuation and consulting firm, is returning to Atlanta. The Denver-based company, known as IRR, effectively left Atlanta last year when it sold the office's assets to Newmark Knight Frank (NKF), an international real estate services firm that acquired Integra's offices in six cities, including Atlanta. Less than a year later, […]
• Port of LA Seeks Developer for 87-Acre Marina August 13, 2018
  The Port of Los Angeles has been working for years to transform its San Pedro industrial waterfront into a destination for dining, shopping and entertainment. It's been investing in public space upgrades such as promenades, attractions such as the Battleship Iowa, and public-private partnerships like the high-profile redevelopment of its aging 40-acre fisherman's village retail […]
• Carrying Colfax Forward: Change Coming to 'Denver's Main Street' August 13, 2018
  Credit: City of Denver On a hot summer day, it’s easy to find Denver locals at Nuggs Ice Cream, a thriving scoop shop opened by Denver business owner Chris O'Sullivan five years ago on Colfax Avenue and Fairfax Street in the center of the city. At times, Nuggs trades customers with Marczyk’s Fine Foods, a […]
• VF Corp. Relocating Corporate HQ to Denver, Bringing 800 Jobs August 13, 2018
  The North Face at Buckhead Marketplace in Atlanta. VF Corp., parent company of outdoor brands such as The North Face and JanSport, plans to relocate its corporate headquarters from North Carolina to the Denver metropolitan area next year, bringing 800 jobs with it, according to an announcement from the Colorado Office of Economic Development and […]
• GSA Inspector General: Millions in Lease Savings Lurking in the Shadows August 13, 2018
  The IRS Service Center at 5045 E. Butler Ave., in Fresno, California. An internal audit conducted by the Inspector General's office of the federal government's General Services Administration found potentially millions of dollars in lease savings lurking in the shadows -- or more exactly, in shadow office space, square footage the agency leases that remains […]
• San Diego, Orange Counties Join Statewide Drop in First-Half Hotel Deals August 13, 2018
  One of the big San Diego hotel deals of the first half involved the 169-room La Quinta property in Mission Valley, purchased for $19.5 million by Kamla Hotels. On the heels of a record year of hotel sales, Southern California’s San Diego and Orange counties experienced sharp declines in the number and value of hospitality […]
• Merchant Development Making its Way to Seattle’s Suburbs August 13, 2018
  When Bellevue, WA-based Continental Properties opened its new Voda Apartments in downtown Kirkland, WA in April, it was the first community to open there since Capri Apartments in December 2015. The community was able to reach 45 percent occupancy by early August just before it sold to Canadian company Low Tide Properties for $89.4 million, […]
• Florida Community Convinced $100M Downtown Revitalization Key to its Future August 13, 2018
  Homestead Station, a 65,000-square-foot building in development will include movies, bowling and an arcade as the centerpiece of Homestead’s downtown revitalization efforts. Credit: City of Homestead. Decades after suburban shopping malls left downtowns in disrepair, communities across the country have

NY / Southern CT Commercial Real Estate News

• Ginsburg Development Secures $31.5 Million Refi for The Metro August 6, 2018
  Ginsburg Development Cos. secured a $31.5 million loan for the 124-unit The Metro at 34 S. Lexington Ave. in White Plains, NY. Proceeds from the loan will be used to refinance the property that is currently undergoing a $92 million renovation. The multifamily property was originally built in 1985 and was purchased by Ginsburg Development […]

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