myNOI Invitation Homes Inc. (NYSE: INVH) has named Dallas Tanner as its president and chief executive officer, according to a release. Tanner, who will also become a member of the board of directors with the move, previously served as executive vice president and chief investment officer for the company. He took on the role of interim … Read more
HomeServices of America Inc. has named Gino Blefari chief executive officer, the Minneapolis-based homeownership service provider said Wednesday. Blefari has been CEO of HSF Affiliates, an Irvine, Calif.-based subsidiary of HomeServices, for over three years. He replaces Ron Peltier, who founded HomeServices in 1998. Peltier will serve as executive chairman of the company. “In today’s … Read more
Developers will scramble in the next few weeks to see whether plans to turn a 107-year-old Franklinton church into affordable housing remain financially viable. Homeport wants to tear down part of the 18,000-square-foot West Side Spiritualist Church, 79 McDowell St., and convert the space into 50 residential units. But there are concerns about keeping some … Read more
When it comes to the country’s hottest housing markets, Silicon Valley still holds the top spot, but Denver isn’t far behind. A new report from Seattle-based Zillow ranked the top 10 housing markets in 2019 and found that Denver is No. 3. To find the country’s hottest housing markets, Zillow looked for cities with strong … Read more
Knock, a startup that helps customers find a new home, has received a $400 million investment to support a national expansion plan and hiring spree. The New York-based company received new funds in a Foundry Group-led series B financing round. Knock expects to use the capital to double its 100-person headcount. Other investors who participated … Read more
Oakland-based Roofstock, which helps investors buy single-family rentals across the country without ever seeing them firsthand, has hired a former Tesla leader as its vice president of operations. Fiona Taylor will oversee the firm’s rapid growth and hiring at both the Oakland headquarters and a Dallas office, which it established last summer with the purchase … Read more
A look at this week’s real estate goings-on.
WeWork CEO Adam Neumann is reportedly making money on properties he owns and leases back to the co-working giant. The Wall Street Journal cited unnamed sources on Wednesday who said that Neumann, an Israeli-born entrepreneur, has made millions of dollars by leasing multiple properties he owns a stake in back to WeWork. This raises conflict … Read more
Companies increasingly are inviting employees to step outside, as developers and owners of urban office buildings are adding terraces and transforming once-barren rooftops into parklike settings, where workers can plant vegetables, unfurl yoga mats or swing in a hammock.
Dozens of land plots will be up for public foreclosure auction next month.
By JLL’s measure, 2018 was a record year in Columbus industrial real estate. In a new report, the agency said nearly 6.6 million square feet of new warehouses and industrial space was completed, capped off by 2.3 million square feet in the fourth quarter of the year alone. The city’s industrial vacancy stands at 5 … Read more
Leidos Holdings Inc. plans to lease about 300,000 square feet of Gaithersburg office space currently occupied by Marriott International Inc. as the government IT contractor embarks on a multiyear consolidation of its Montgomery County footprint. The news comes on the heels of the Reston giant selling a 44-acre office campus nearby that was the former … Read more
The man who was running the busiest construction company in Nashville will run the Tennessee Department of Transportation under Governor-elect Bill Lee. On Jan. 15, Lee announced that he chose Clay Bright to lead the transportation department. Lee and his Cabinet members will be sworn into office Saturday. Bright, a Davidson County resident, was most … Read more
BlackRock profits plummeted almost 60 percent over the last year. BlackRock (NYSE: BLK) reported profits of $927 million, or $5.78 per share, for 2018. Analysts expected the New York-based firm, touted as the world’s largest asset manager, to report $6.27 per share. Profits were down from $2.30 billion, or $14.01 per share, a year earlier. … Read more
The team restoring the Franklin School into an interactive language arts museum restarted the $35 million renovation Jan. 2, roughly four months after it was slapped with a stop-work order for illegally removing historic elements from the protected structure. D.C. lifted the stop-work order Dec. 27 after the developer behind the Planet Word museum agreed … Read more
Want to know how much your hospital is going to charge for that knee surgery?
The Senate has narrowly upheld a Treasury Department decision to lift sanctions from three companies connected to Russian oligarch Oleg Deripaska.
The Federal Reserve said Wednesday business contacts in many regions of the country are expressing less optimism amid a host of adverse developments, from plunging stock prices to uncertainty about a widening trade war.
“After exploring a number of locations, the possibility of situating the museum proximate to the airport with great access and visibility, with plenty of room to grow, is intriguing,” the museum’s director and CEO said.
In all, the central business district posted 797,069 square feet in absorption versus negative 317,000 square feet in suburban Atlanta. Net absorption for all of metro Atlanta finished the year positive, according to JLL.
As part of our upcoming special report on commercial real estate, coming out in the Jan. 18 weekly edition of the Nashville Business Journal, we asked executives with Nashville’s engineering firms, “What new infrastructure challenges will Amazon’s presence create for Nashville?” Click through the slideshow with this story to read their answers. (Hint: there’s more … Read more
Total home sales for 2018 ended at 32,140, an increase of nearly 1,500 homes and a 4 percent increase from 2017.
As Portland’s Executives of the Year gather next month, they’ll have some heady company. Along with the 12 top execs, the Portland Business Journal will also effectively introduce two dozen-plus leaders who have recently assumed C-level spots with the city’s best-known companies and nonprofits. All will be recognized at the Portland Business Journal’s Executive of … Read more
The Port of Greater Cincinnati Redevelopment Authority plans to purchase two downtown garages for $25.5 million. The Port’s Board of Directors approved a plan to acquire the parking garages located at 609 Elm St. and 605 Plum St. from LAZ Parking Realty Investors LLC. Combined, the two garages have a total of 1,570 parking spaces. … Read more
The Community Action Organization of Western New York Inc. is asking the Erie County Industrial Development Agency for tax breaks that will help finance the redevelopment of the former Deaconess Hospital.
The building is known internally as the Basset Creek Building because it was built along the creek in 1998.
A little less than four years after embarking on the ambitious creation of a two-block, food-centered campus in Portland’s Central Eastside, Ecotrust has opened the Redd on Salmon Street. Located in two buildings along Southeast Salmon Street and Southeast Seventh and Ninth avenues, the Redd brings a food business incubator and a last-mile distribution warehouse … Read more
A building Astronautics Corp. of America may reportedly buy was rezoned in Oak Creek Tuesday, and city officials also cleared developer Rick Barrett to move ahead with 240 apartments at nearby Drexel Town Square.
Kia says it will ignore the partial U.S. government shutdown and recall more than 68,000 vehicles to fix a fuel pipe problem that can cause engine fires. The problem stemmed from previous recall repairs due to engine failures.
Seven of the candidates running for mayor of Kansas City discussed incentives and red tape and otherwise made their case to the real estate community in a forum for the area’s development professionals on Tuesday. In attendance were seven candidates for the city’s top job: Councilwoman Alissia Canady, Councilwoman Jolie Justus, Councilman Quinton Lucas, Steve Miller, Councilman Jermaine Reed, Councilman Scott … Read more
Add Loudoun to the list of local jurisdictions making the switch to a paperless development review process. Loudoun County is investing $12 million into a digital land management software system that will replace an antiquated paper-based system, with expectations of rolling it out by the first quarter of 2021. Loudoun is one of several counties … Read more
WeWork, the company known for renting shared office space to startups and big-name clients like Facebook and IBM, has an innovative business structure. The New York-based company uses single-purpose entities, registered as limited liability corporations, to sign its leases with landlords. If one of its locations does poorly, the landlord has to deal with it, … Read more
Sears Holdings Corp. Chairman Eddie Lampert has won a bankruptcy auction for the beleaguered retailer in move that could keep hundreds of stores open. Lampert and his ESL Investments hedge fund won with a $5.2 billion bid for the bankrupt Hoffman Estates, Illinois-based retailer that will keep more than 400 stores open and save nearly … Read more
The company is adding office and warehouse space.
The 263,000-square-foot, four-story facility will add to APL’s 3 million-square-foot footprint in Howard County.
Leidos Holdings Inc. plans to lease about 300,000 square feet of Gaithersburg office space currently occupied by Marriott International Inc. as it embarks on a multiyear consolidation of its Montgomery County footprint. The news comes on the heels of the Reston-based government IT contracting giant selling a 44-acre office campus nearby that was the former … Read more
“We need to offer places where people can do more than just shop. That is the future,” says Terry Montesi, of Trademark Property Co.
Backed by Arizona sports icon Jerry Colangelo, the proposed community is projected to house 300,000 people and 60 million square feet of commercial and retail space.
Staples Inc. is shuttering its 200,000-square-foot distribution center in Hanover, a move impacting 61 employees. The Framingham, Massachusetts-based office supply giant said the closing is part of a previously announced plan to consolidate some of its smaller regional warehouse to a new, 1-million-square-foot facility in Greencastle, Pennsylvania, a town about 20 minutes north of Hagerstown … Read more
Another high-level departure at Snap Inc. rattled investors in the social media company, which is losing its second chief financial officer in less than year.
Over a decade ago, developer Duane Venhuizen received entitlements for an office condominium project on Greenback Lane in Folsom, overlooking the American River.
A historic Oakland theater is starting a new act as a trendy, seven-story office building in Uptown, one of the city’s most in-demand neighborhoods. Embarcadero Capital Partners plucked the Dufwin Theatre building out of receivership — more on that later — in 2016 for $8.4 million and then embarked on an extensive, $10 million overhaul. … Read more
The Victor Records building at 201 N. Front St. totals 90,000 square feet. It had been home to the Camden City School District until it was sold last year.
WeWork, the company known for renting shared office space to startups and big-name clients like Facebook Inc. and International Business Machines Corp., has an innovative business structure. The New York-based company uses single-purpose entities, registered as limited liability corporations, to sign its leases with landlords. If one of its locations does poorly, the landlord has … Read more
International tensions and nationalist politics can further weigh on the global economy this year and hinder efforts to deal with big issues such as climate change, the organizers of next week’s Davos forum warned Wednesday.
Wheels are in motion for more than $26 million in bonds. The City Finance & Government Operations Committee moved for a “Do Pass” on $26.4 million in metropolitan redevelopment bonds for the Marriott Springhill Suites project Monday night, which is a nearly 93,000-square-foot, 118-room hotel on Central Avenue. In addition, 20 rooms will be specifically … Read more
It’s the company’s fifth new market in 10 months.
The suburban company made a splash in 2017 when it paid $225 million for a new apartment tower in downtown Seattle.
The new Hilton Garden Inn on Union Avenue is set to open this week. Located, just across from AutoZone Park, the hotel’s 150 rooms feature views of the park and the proposed Canopy Hotel site. The hotel bar, The Greyhound, is an homage to the Greyhound Lines station that used to be located at the … Read more
The man who was running the busiest construction company in Nashville has agreed to run the Tennessee Department of Transportation under Governor-elect Bill Lee. On Jan. 15, Lee announced that he’s chosen Clay Bright to lead that department. Lee and his Cabinet members will be sworn into office Saturday. Bright, a Davidson County resident, was … Read more