Advanced Development and Investment Inc. (ADI), a real estate development company that received approximately $29 million in subsidies from the city of Los Angeles, has agreed to pay $165,000 to end an ethics investigation related to allegations of campaign money-laundering. … Continue reading →
Crowdfunding is a process by which a company or developer will fund a project by selling small amounts of equity to many investors. In commercial real estate, crowdfunding can help to fund the urban infill projects that are often not … Continue reading →
The Hyatt Regency will fill in the hotel component of a new mixed-use development at Tysons Corner Center, located about 10 miles west of Washington, DC. The 17-floor, 300-room hotel will open in 2014 and will offer almost 16,000sf of … Continue reading →
Whole Foods Market has a new strategy: Instead of the 50K to 70K sf stores it was building five years ago, the natural and organic foods retailer is opening stores around 38K sf in size, according to Seeking Alpha. The … Continue reading →
The University of Chicago is working with the city and private developers to redevelop the 53rd Street retail district north of its Hyde Park campus, according to The New York Times. The $250 million Harper Court project (at the corner … Continue reading →
San Francisco’s office market is the healthiest in the country due in large part to the growth of the tech sector in that city. Rents average $50.36/sf – up 50 percent since Q1 2010 and vacancy is at 12.7 percent … Continue reading →
The Linq is a $550 million project in Las Vegas undertaken by Caesars Entertainment. The 260,000-square-foot retail and entertainment district across from Caesar’s Palace is 70 percent leased and includes such tenants as Brooklyn Bowl – a 16-lane bowling alley … Continue reading →
Patrick T. Sharkey of Jackson Walker, LLP writes of ten issues to be considered in a condominium conversion project: 1. All existing leases must be honored after the conversion, regardless of the length of the lease. 2. Every tenant/subtenant must … Continue reading →
Boston’s Newbury Street retail market has a 3.5 percent vacancy rate – the lowest rate for the city’s retail districts, which average 10 percent, according to a New York Times article. The Back Bay office market is also strong. The … Continue reading →
Bulgarian real estate developer MRP International is leading a consortium that plans to develop Rio Towers – six fifty-story waterfront office buildings in Rio’s central port district, according to The Wall Street Journal. The project will add 3.47 million square … Continue reading →