Washington DC Area Commercial Real Estate News
$116M sale: Value of Pemco's old HQ, now home to Amazon, soars 124 percent
by Marc StilesSat, 19 Jan 2019 00:38:10 +0000
The 124 percent jump from the previous sales price shows what landing Amazon as a tenant can do for a property's value.
Howard Hughes launches owner-occupant sales for Koula tower in Honolulu
by Janis L. MaginSat, 19 Jan 2019 00:28:32 +0000
The Howard Hughes Corp. launched owner-occupant sales Friday for Koula, its 41-story mixed-use tower that will have 565 units.
The project is the sixth mixed-use tower in Honolulu for the Howard Hughes Corp. (NYSE: HHC) and the first that will face the newly opened Victoria Ward Park.
The building was designed by Jeanne Gang of Studio Gang, while Yabu Pushelberg designed the interiors, and Hawaii designer Sig Zane of Sig Zane Designs provided the name. The units will include a mix of studios, one-,…
31-story boutique hotel would be something new for downtown Austin site
by Erin EdgemonFri, 18 Jan 2019 23:10:14 +0000
The Avenue, which will be built next to the State and Paramount theaters, was originally planned as a mixed-use residential tower. The project from Congress Development Partners Ltd. was first announced in 2016 as a luxury apartment building also featuring office space, a restaurant and bar. The building was notable at the time for its lack of a parking garage.
Feds allege OP man faked veteran ownership to win $40M in contracts
by James DornbrookFri, 18 Jan 2019 22:55:53 +0000
Troy Bechtel, of Overland Park, has been charged with two counts of major program fraud against the United States and two counts of lying to federal investigators.
The charges stem from a Merriam construction company called United Medical Design Builders LLC, which was awarded about $40 million in contracts from the Service-Disabled Veteran-Owned Small Business program.
The indictment alleges Bechtel ran the daily operations of the company, which was supposed to be controlled by an actual service-disabled…
Salesforce to build new tower in Dublin, doubling employees at Irish HQ
by Alex BarreiraFri, 18 Jan 2019 22:44:09 +0000
Adding to a slew of new developments in 2018, Salesforce (NYSE: CRM) shared plans on Friday to build a new tower in downtown Dublin and eventually double its employee headcount at the regional headquarters in Ireland.
The plans for Salesforce Tower Dublin follow Salesforce’s other moves to expand announced in late 2018 to double its employees in their Atlanta office and build a new skyscraper, also called Salesforce Tower, in Chicago. In January it opened a 1.4 million-square-foot tower worth…
Investors make first foray into Portland with 35-acre buy, plans for new development
by Jon BellFri, 18 Jan 2019 22:31:21 +0000
The firm is planning a two-building industrial development that will hit 650,000 square feet.
Exclusive: 39-story tower to break ground in Oakland
by Fiona KelliherFri, 18 Jan 2019 22:15:56 +0000
Lincoln Property Co. and Behring Cos. have partnered to build the massive mixed-use project at 1900 Broadway.
Journal Center hotel unveils multimillion-dollar renovation
by Christopher OrtizFri, 18 Jan 2019 21:31:28 +0000
After a year of renovations, the Journal Center Courtyard Marriott is showing off its multimillion-dollar new look.
Owner Titan Development invested $3 million into the property, which it acquired from New Hampshire-based Ocean Properties Hotels Resorts & Affiliates two years ago for an undisclosed price.
The renovation included installing hardwood flooring in all 150 guest rooms, new spa-like pool and gym facilities, new event spaces and new conference rooms with wall-mounted big-screen televisions…
Foreclosure lawsuit targets 59-acre development site in Palm Beach
by Brian BandellFri, 18 Jan 2019 21:05:32 +0000
The lawsuit alleges that a $12 million mortgage is past due.
Former Solutia HQ acquired by first-time St. Louis buyer
by Steph KukuljanFri, 18 Jan 2019 20:52:02 +0000
Solutia had occupied about 100,000 square feet of the building until the chemical manufacturer left last year.
