REBusinessOnline

Lawrence Group Breaks Ground on $340M City Foundry Saint Louis Development

Lawrence Group Breaks Ground on $340M City Foundry Saint Louis Development

ST. LOUIS — Lawrence Group has started construction of City Foundry Saint Louis at Cortex, a $340 million mixed-use redevelopment. The building was the former site of the Federal Mogul Foundry in St. Louis, and environmental remediation work on the property is underway. The first phase of the project will include 48,000 square feet of restaurant and food hall space with approximately 20 food stalls and up to four full-service restaurants; 124,000 square feet of creative office space; 133,000 square feet of retail space accommodating up to 45 retailers; a 511-car parking garage in addition to surface spaces; a connector trail to the Great Rivers Greenway Trail System; and amenities such as public plaza spaces, bike sharing, electric..

| , , ,
How To Ensure Brick and Mortar Stores Stay Relevant

How To Ensure Brick and Mortar Stores Stay Relevant

With increasing pressure from online retailing, traditional retail environments must strive to remain at the forefront of innovation and reinvention. While some may feel brick and mortar retailing is facing extinction, the data say otherwise. Petrie Richardson Ventures (PRV), founded in 2000 by Chairman Walt Petrie, recently commissioned a large-scale survey that examined the influence of evolving social, lifestyle, entertainment and technology developments on shopping habits across the US. The more than 75 question online survey of a demographic representative of 1,018 shoppers 18 years of age and older was conducted by ORC International, one of the American Marketing Association’s Top 50 Research Firms. It’s all about the..

| ,
Balfour Beatty to Build $196M North Block Phase of D.C.’s Capitol Crossing Development

Balfour Beatty to Build $196M North Block Phase of D.C.’s Capitol Crossing Development

WASHINGTON, D.C. — Balfour Beatty has been awarded a $196 million contract to build the North Block phase of Property Group Partners’ Capitol Crossing development in Washington, D.C. The North Block phase will include the construction of two 12-story, mixed-use office buildings totaling 960,000 square feet that will be connected by a glass connector bridge. Capitol Crossing is a 2.2 million-square-foot project that will span three blocks and seven acres once complete. The project will include 70,000 square feet of retail space, garden promenades, 1,100 parking spaces, a fitness center and 440 bicycle spaces. The average floor plate at Capitol Crossing will be 30,000 square feet. “Property Group Partners has a strong belief..

| , , ,
Qatar Investment Authority Buys 10% Stake in Empire State Realty Trust for $622M

Qatar Investment Authority Buys 10% Stake in Empire State Realty Trust for $622M

NEW YORK CITY — An affiliate of Qatar Investment Authority (QIA) has acquired a 9.9 percent interest in New York-based office/retail REIT Empire State Realty Trust (NYSE: ESRT) for $622 million. QIA purchased 29.6 million newly issued Class A common shares of ESRT at $21 per share. The interest was acquired on a fully diluted basis, which is currently 19.4 percent ownership of Class A shares. Darcy Stacom of CBRE Group introduced QIA to ESRT. Goldman Sachs and Eastdil Secured acted as financial advisors. Goodwin Procter, Proskauer Rose and Clifford Chance U.S. acted as counsel. White & Case acted as QIA’s legal counsel. Empire State Realty Trust owns, manages, operates, acquires and repositions office and retail properties..

| , , , ,

New Projects

Sales & Leases

>
>
>
>