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Northeast
Rebuilding Downtown JPMorgan Chase WTC Development Plans in Doubt
May 15, 2008
Has JPMorgan Chase finally backed off on plans to build an office tower at the World Trade Center site in lower Manhattan?
Adobe to Buy Boston-Area Office Building Upon Completion
May 15, 2008
In a $44.7 million deal, Adobe Systems Inc. has agreed to purchase Overlook Center in Waltham, Mass., from Normandy Real Estate Partners upon its construction.
Yales Sculpture Yale Building Wins AIA Award
May 15, 2008
Yale University’s new Sculpture Building has been named to the American Institute of Architect's top ten green projects of 2008 list. The building, designed by architects Stephen Kieran and James Timberlake, also earned a platinum LEED certificate.
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Mid-Atlantic
Corus, Lehman Bros. Make D.C. Loans
May 15, 2008
Corus Bank closed a $72 million loan to MR BP Office #1 L.L.C. to finance the construction of a nine-story Class A office building located at 55 M Street SE in Washington, D.C.
Philadelphia Taps Hughes for Green Post
May 15, 2008
According to the Philadelphia Inquirer, Mark Hughes will become the city's sustainability director.
Arent Fox to Relocate D.C. Office
May 15, 2008
Arent Fox L.L.P. has announced that it will relocate its Washington, D.C., office to 1000 Connecticut Ave. upon the expiration of its current lease in 2012.
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Southeast
H&M Opens First of Series of Atlanta Shops
May 15, 2008 - Source: Atlanta Journal Constitution
The Swedish clothing retailer will debut its first in-town store at Atlantic Station on June 13.
Prime Retail to Debut $300M Expansion of Orlando Shopping Center
May 14, 2008
The former Prime Outlets Orlando will emerge from its $300 million makeover as the 778,000-square-foot Prime Outlets International Orlando next week. Owner Prime Retail upgraded and expanded the property, which now holds the distinction of being the largest outlet center in the southern region and the biggest in the nation.
Mixed-Use in Property Coral Gables Gets a New Owner
May 14, 2008
Ownership of the 180,000-square-foot Plaza San Remo in Coral Gable has just changed hands, with a German investment group advised by Phoenix Property Co. acquiring the one-year-old retail and medical office condominium property from Venera Holdings.
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Midwest
University of Chicago to Create $200 Million Center Honoring Late Economist
May 15, 2008 - Source: Crain's Chicago Business
The Milton Friedman Institute will eventually be housed in facilities now occupied by the Chicago Theological Seminary.
JV Formed to Develop Suburban Des Moines Retail
May 15, 2008
Capital Growth Madison Marquette of Minneapolis and DRA Properties L.L.C., an Ankeny, Iowa-based real estate company, have formed a partnership to develop about 500,000 square feet of retail space in Ankeny.
Joliet Joliet Green Lights Mixed-Use Project
May 14, 2008
The Joliet, Ill., City Council has approved a development agreement for the Bridge Street Town Centre, a 3.5-acre mixed-use development in that city southwest of Chicago.
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Southwest
$1B M Vegas Resort to Cater to Thriving Mid-Size Event Market
May 15, 2008
Developers of the planned $1 billion M Resort, Spa & Casino in Las Vegas recently revealed new project details designed to address the city's dearth of conference facilities that accommodate small and mid-sized meetings and events.
Pair of Dallas Office Buildings Acquired by Newly-Launched Thompson National
May 15, 2008
Less than a month after the launch of Thompson National Properties L.L.C., the firm has acquired two Dallas Class B office buildings as the company’s first acquisition on behalf of the Bruin Fund, a $250 million opportunity fund.
BNSF Railway Takes 198 Acres at Dallas Logistic Hub, May Buy 164 More
May 14, 2008
The Allen Group has announced the sale of 198 acres of land in the Dallas Logistics Hub to BNSF Railway Co., with the additional option agreement giving BNSF the right to purchase an additional 164 acres.
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West
Hotel-Condo Tower Slated for Downtown Denver
May 15, 2008 - Source: Rocky Mountain News
Hotelier Ranko Mocevic wants to build a 17-story tower on the site of a former Burger King at 15th and Stout streets.
New Studio to Be Built Near Hollywood
May 15, 2008
The United States' largest independent movie studio, a $125 million facility, is slated to break ground in April, 2009, with a projected 18-month construction period, Commonwealth Studios has announced.
Pair of SoCal Hotels Trade for $80M
May 14, 2008
R.D. Olson Development has sold two hotels in Southern California to Apple REIT 8 for a combined $80 million.
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International
$1B Luxury Resort on Tap in Coveted Area of Bahamas
May 15, 2008
The New South Ocean Development Co. will erect a $1 billion luxury resort on 385 acres along the pristine southwestern coast of New Providence Island in Nassau, Bahamas.
Busy Few Days for ProLogis with Development, Acquisition, Hiring News
May 14, 2008
The week is only half done and already ProLogis has announced plans for a 220,000-square-foot build-to-suit in Hungary, the purchase of 83 acres in Virginia, and the appointment of a new global executive.
Crowne Plaza Amsterdam City Centre Sold
May 14, 2008
Acting for an institutional investor and InterContinental Hotels Group, Jones Lang LaSalle Hotels Inc. has completed the sale of the Crowne Plaza Amsterdam City Centre for approximately $111 million to joint venture HHR Euro CV.
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