The land deal was completed by a joint venture between Trammell Crow and Multi-Employer Property Trust.
As Seattle struggles with housing affordability issues, Mayor Murray is striving to put in place legislation.
A look at JSB Development’s latest Los Angeles County transit-oriented development.
General contractor Rudolph and Sletten Inc. was recently awarded an important preliminary contract for the development of a medical facility for UC San Diego Health Services in La Jolla. The company is now set to start work on an outpatient pavilion, with the contract set at around $78 million, and expected to be booked during Q3 of this year. The facility that Rudolph and Sletten Inc. is set to construct will act as support for the Jacobs Medical Center.
Balfour Beatty Construction recently announced that it has completed a high-end mixed-use tower in Hollywood at a considerably lower cost than was originally estimated. The company’s Southwest Division finished a project it had been developing for real estate and infrastructure investment firm CIM Group at a total cost of $76.2 million, roughly $12 million less than what was initially committed to the project. The change comes from the use of the contractor’s cast-in-place structures, as well as a re-design of the building’s mechanical, electrical and plumbing systems.
The Copley Corporate Center in the Kearny Mesa submarket recently traded hands. The Class A office asset was acquired by leading retirement provider TIAA-CREF through affiliate T-C Copley LLC. The investor reportedly paid seller Colony Realty Partners a fee of $43.5 million for the office complex. The deal was arranged by CBRE representatives Louay Alsadek, Kevin Shannon, Rob Merkin, Brad Black and Hunter Rowe on behalf of Colony Realty Partners.
Controlling interest in the San Antonio Shopping Center in Mountain View, CA was recently acquired by a real estate investment company in a deal worth a total of $62.2 million. The buyer is Federal Realty Investment Trust, a Rockvile, MD owner, operator and developer of high-end retail properties. The transaction was completed by using a combination of 58,000 downREIT units, $18 million of cash and the assumption of $18.7 million of fixed rate debt secured by the property.
Mandalay Bay Resort and Casino has announced plans to expand its Convention Center in a bid to answer the growing demand for meeting space in the city of Las Vegas. Announced plans for the facility would bring the total amount of available convention space at Mandalay Bay to over two million square feet. The cost of the new developments will cost an estimated $66 million.