Property Management
Could a Zombie Theme Park Bring Back Detroit’s Vacant Properties?
By Veronica Grecu, Associate Editor Over the last couple of years the subject of vacant properties has created a myriad of debates among Detroiters and city officials alike. Various revitalization initiatives and programs have been proposed to reduce the ‘eye soaring’ effect of these abandoned sites and breathe new life…
Windfall Group Plans New Commercial Building in Chicago’s Chinatown; New Restaurant Announced for Hard Rock Hotel Chicago
By Gabriel Circiog, Associate Editor Windfall Group USA is under contract to acquire one of the most coveted pieces of property in Chicago’s Chinatown and plans to build a 100,000-square-foot commercial building, Crain’s Cleveland Business reports. The Cleveland-based developer plans to construct the six-story commercial building on the southwest corner…
BOMA Special Report: Energy Efficiency Measures Deliver Outsized Income Gains
Building owners and managers should look at even modest energy efficiency upgrades as a three-legged stool supporting stronger net operating income, says Patty Anderson of the McKinstry sustainability consulting firm.…
BOMA Special Report: Stephenson Stresses Vigilance for Tenant Savings
Office building owners and managers can convince tenants to significantly reduce energy consumption – but they need to be vigilant in ongoing communication and relations efforts, stressed Jenny Stephenson, program manager with the U.S. Environmental Protection Agency’s Energy Star program, during BOMA International’s Every Building conference in Seattle.…
Investors Shop for Medical Office Buildings in DFW
By Camelia Bulea, Associate Editor Two investors recently purchased medical office properties in the Dallas-Fort Worth Metroplex. American Realty Capital Healthcare Trust Inc. bought two medical office buildings in the North Texas markets of Arlington and Sunnyvale, while commercial real estate investment fund Velocis and its investors have purchased Magnolia Medical Tower, an…
Pioneer-Endicott Buildings to be Converted into 234 Market-Rate Apartments
By Gabriel Circiog, Associate Editor The Pioneer-Endicott buildings in downtown St. Paul have been vacant for some time, but things could soon change. Local developer Rich Pakonen envisions a 234-unit market-rate apartment conversion project that would also include 31,900 square feet of commercial space, Finance & Commerce reports. The two…
Affirmed Housing Group Completes Affordable Apartment Community
By Gabriel Circiog, Associate Editor Affirmed Housing Group has announced the grand opening of the City Scene Apartments in the North Park neighborhood of San Diego. City Scene Apartments features 31 affordable homes which are addressed to those who earn 50-60 percent of San Diego County’s Area Median Income. Located…
Kansas City Council Prepares Hefty Tax Incentive Package to Attract Freightquote.com
By Gabriel Circiog, Associate Editor The Kansas City Council is preparing a hefty tax incentive package to lure Freightquote.com to cross the state line, The Kansas City Business Journal reports. The current headquarters of the online shipping company is in Lenexa at 16025 West 113th Street, but Kansas City proposes…
The Madison at Schilling Farms Goes for $32.1M; Bailey Creek for $23.8M
By Eliza Theiss, Associate Editor New York-based Somerset Partners LLC recently purchased the 232-unit Class A Bailey Creek Apartments for $23.8 million, or $102,586 per unit, reports the Memphis Business Journal. Located at 1907 North Bailey Woods Dr. in Collierville, Bailey Creek features one-, two and three-bedroom apartments with one…
Miller-Valentine Wins Two Portfolio Contracts from Iron Mountain
Miller-Valentine Group has been tapped by Iron Mountain Inc. to serve as general contractor for the information management service provider's portfolio of facilities in the Mid-South and Ohio Valley regions.…
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