The Washington Metropolitan Area Transit Authority (WMATA) announced yesterday that rail service to Washington Dulles International Airport and Loudoun County will commence on November 15. The Silver Line Extension includes a new rail maintenance and service yard (the largest in … Continue reading →
The Prince William County Board of Supervisors will vote tomorrow on a plan to convert rural land into as much as 27 million square feet of data centers, according to The Washington Post. The “Digital Gateway” proposal asks the county … Continue reading →
Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), plans to invest $24 billion in Middle Eastern and North African countries, including in the real estate sector, according to Bloomberg. Reuters reported in August that Saudi Arabia has registered … Continue reading →
The Washington Metropolitan Area Transit Authority (Metro) has announced that the 11.4-mile Dulles extension is operationally ready and can open by the Thanksgiving travel period, subject to approvals from the Washington Metrorail Safety Commission (WMSC) of two submissions—a data-driven Return … Continue reading →
Volkswagen Group of America, Inc., the North American subsidiary of German automaker Volkswagen, has signed a 20-year lease agreement for a new logistics facility at Port Freeport, Texas. The new hub will enable Volkswagen to import approximately 140,000 vehicles per … Continue reading →
Total U.S. construction starts fell by five percent in June to a seasonally adjusted annual rate of $932.3 billion, with nonresidential building starts declining 14 percent and residential starts declining six percent, according to Dodge Construction Network. Year-to-date, total construction … Continue reading →
Shanghai-based real estate developer Shimao Group Holdings Ltd. has missed the interest and principal payment of a $1.02 billion offshore bond due on Sunday, according to Reuters. This was the first missed public offshore payment for Shimao, which has an … Continue reading →
The 2.5-acre vacant lot at 1201 Brickell Bay Drive (in Miami’s Brickell neighborhood) sold on April 20, 2022 for $363 million ($145,200,000/acre), according to Miami-Dade Office of the Property Appraiser. TWJ 1201 LLC, an entity linked to Tibor Hollo’s Florida … Continue reading →
British multinational hospitality company IHG announced today that it is “in the process of ceasing all operations in Russia consistent with evolving UK, US and EU sanction regimes and the ongoing and increasing challenges of operating there.” The company had … Continue reading →
Adaptive reuse is the process of updating an existing structure and adapting it for a new use. In 2020 and 2021, a total of approximately 32,000 converted apartment units were delivered to market, according RentCafe, with Philadelphia and Washington, DC … Continue reading →