Central Islip luxury community offers discount to first responders

Belmont at Eastview may be the safest apartment complex on Long Island. Developers of the Central Islip complex have been offering 10 percent monthly rent discounts for first responders, Newsday reported. Firefighters, police officers, EMTs and veterans are among those who have been benefiting from the unique deal. They’ve certainly been taking advantage. Of the […]

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Tenant renovations planned for Atlanta’s historic Plaza Theatre

The historic Plaza Theatre near downtown Atlanta is closer to its return to glory.  Building owner Chris Escobar is making strides in his mission to revive the Plaza Theatre, with renovations aimed at restoring its former grandeur while bringing it into the modern age, the Atlanta Business Chronicle reported.  Escobar recently secured a 25-year lease, […]

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Allstate selling Wacker Drive office building 

Allstate is looking to sell a downtown office building that it never moved into. The Northbrook-based insurance giant has hired Colliers to market the 10-story, 133,600-square-foot office building at 29 North Wacker Drive, two years after buying it for $29.7 million, Crain’s reported.  An asking price has not been revealed, but sources familiar with the […]

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GVA offloads San Antonio apartment complex

Troubled multifamily syndicator GVA has offloaded one of its San Antonio assets and evaded a foreclosure.  Big Spring-based nonprofit Crossroads Housing Development has acquired the 335-unit Aspire Apartments, at 1830 Bandera Road, on the city’s Northwest Side, the San Antonio Business Journal reported.  While the sale price was not disclosed, Bexar County records show that […]

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Prado Group pitches more homes at shuttered SF hospital site

Prado Group wants to add more than 230 homes for seniors to its approved plan to redevelop the former California Pacific Medical Center in San Francisco’s Presidio Heights. The locally based developer led by Dan Safier aims to revise its plans to add 157 independent living units for seniors and 75 assisted living and memory […]

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Hines signs leases for 175K sf at Santa Clara industrial campus

Hines has scored 175,000 square feet of new or renewed R&D and manufacturing leases at its business campus in Santa Clara. A fund sponsored by the Houston-based developer has inked deals for two new office leases for 101,000 square feet in Bassett Technology Park at 3508-3580 Bassett Street, the San Jose Mercury News and the […]

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Macerich withdraws plans for 10-story office tower at Phoenix mall

Macerich has withdrawn plans to add a 10-story office building to its luxury outdoor mall in Phoenix. The Santa Monica-based real estate investment trust pulled its application before a meeting by the City of Phoenix’s Planning Hearing Officer this month to consider the 330,000-square-foot building in Biltmore Fashion Park at 2502 East Camelback Road, the […]

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Bon Aviv’s North Side mall listing could test Chicago retail market

A newly listed vertical mall on Chicago’s North Side will test investors’ appetite for retail assets, while providing a clearer future of a commercial sector that could be poised for a bounce-back year. New Jersey-based Bon Aviv Investments has hired JLL brokers to sell the 175,000-square-foot Century building at 2828 North Clark Street, which was […]

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City suspends engineer of collapsed Bronx building

New York City permanently suspended the engineer who inspected an apartment building in the Bronx that partially collapsed in December. Mayor Eric Adams announced the two-year suspension of Richard Koenigsberg following an agreement between the two sides, Crain’s reported. The voluntary suspension is accompanied by a $10,000 fine for the veteran facade inspector.  The city […]

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George Smith acquires Clearwater Capital for C-PACE expertise

George Smith Partners has acquired Clearwater Capital Management to expand its business into Commercial Property Assessed Clean Energy lending. The Century City-based commercial real estate financing firm bought the New York-based C-PACE specialist for undisclosed terms, the Commercial Observer reported. “The acquisition of Clearwater Capital Management strategically complements our mission to broaden our capabilities and […]

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