REBusinessOnline

City of Atlanta, Atlanta BeltLine Acquire Land from CSX to Expand Multi-Use Trail

ATLANTA — The City of Atlanta and Atlanta BeltLine Inc. (ABI) have acquired 1.8 miles of former railroad corridor from freight rail operator CSX on Atlanta’s Westside to expand the city’s BeltLine urban trail. Upon full build-out in 2030, the 22-mile loop trail will connect 45 intown neighborhoods. The $6.3 million acquisition of the stretch of track formerly known as “the Kudzu Line” represents the final purchase of inactive rail corridor in the Atlanta BeltLine loop. The purchase …

Civic, Development, Georgia, Southeast

Alliant Provides $12.5M Refinancing for Parking Facility at Baltimore-Washington International Airport

LINTHICUM HEIGHTS, MD. — Alliant Credit Union has provided a 10-year, $12.5 million loan to refinance a remote airport parking facility at Baltimore-Washington International Airport. The 850,852-square-foot site includes 2,156 parking spaces and is located less than one mile from the main terminal building at the airport. The facility is privately owned and managed. The name of the borrower was not

Alliant Credit Union, Civic, Loans, Maryland, Southeast

U.S. Army Selects Austin as Headquarters of New Division

AUSTIN, TEXAS — The U.S. Army has selected Austin as the site of its new Futures Command headquarters, a project that will bring about 500 new jobs to the state capital. The Army’s Futures Command division will occupy space owned by the University of Texas (UT) in downtown Austin, with a directive to assess new weapons technology and emerging threats. The Army expects the new headquarters to be fully operational by summer

Civic, Leasing Activity, Texas

Houston Astros Extend Lease at Minute Maid Park Through 2050

HOUSTON — The Houston Astros have extended their lease at Minute Maid Park, where the professional baseball team has played since 2000, through 2050 following a positive vote by the Houston Sports Authority. The stadium, formerly known as Enron Field, was built in the late 1990s and seats about 41,000 people. The original lease was set to expire in 2030. The terms of the extension call for a $1 million increase in rent beginning this year and running through the remainder of the original …

Civic, Leasing Activity, Texas

Development Team Selected for Gordie Howe International Bridge Project Connecting Detroit to Canada

DETROIT — Bridging North America, a partnership of Fluor and ACS Infrastructure Canada, was selected to design, build, finance, operate and maintain the Gordie Howe International Bridge project for Windsor-Detroit Bridge Authority. The planned bridge and border crossing will span the Detroit River and connect Detroit to Windsor, Canada by linking I-75 and I-96 with the new extension of Highway 401 in Ontario. When complete, the bridge will be the longest cable-stayed bridge in North America. …

Civic, Development, Michigan, Midwest

McCarthy Completes $380M Expansion of Gateway Arch Museum in St. Louis

ST. LOUIS — McCarthy Building Cos. Inc. has completed a 47,000-square-foot subterranean expansion and renovation of the Museum of the Gateway Arch. This is the final component of a $380 million redevelopment of the monument in downtown St. Louis. McCarthy also oversaw the transformation of the north and south grounds surrounding the Arch. The renovated museum and visitor’s center opened to the public on Tuesday, July 3. A new circular entrance and upper-level lobby replaces the previous …

Civic, Development, Midwest, Missouri

iSports to Develop 157,000 SF Athletic Complex in Metro Austin

CEDAR PARK, TEXAS — iSports Real Estate Development LLC, an Austin-based partnership, will develop a 157,000-square-foot athletic training and performance center in Cedar Park, a northwestern suburb of Austin. The facility will include an ice rink and indoor and outdoor turf fields. The project developers are also seeking tenants to operate competitive cheerleading and gymnastics, sand volleyball courts and a medical and sports rehabilitation practice, as well as sports retail stores. Plans …

Civic, Development, Texas

Joint Venture Breaks Ground on Historic School Renovation Project, Adjacent Office Building in D.C.

WASHINGTON, D.C. — A joint venture between Akridge, Corporate Office Properties Trust (COPT) and Argos Group has broken ground on the redevelopment of Thaddeus Stevens Elementary School in Washington, D.C. Akridge and D.C. officials have collaborated for 19 years to establish a plan for the historic school, which was one of the District’s first public schools built for the education of African American children. As part of the redevelopment, the joint venture broke ground on a …

Civic, Development, District of Columbia, Office, Southeast

Easterly Government Properties Agrees to Buy 1.5 MSF Government-Leased Office Portfolio for $430M

WASHINGTON, D.C. — Easterly Government Properties (NYSE: DEA) has agreed to purchase a 14-property office portfolio across the United States for $430 million. The nearly 1.5 million-square-foot portfolio is 94 percent leased by the U.S. government and 99 percent leased overall. The seller was undisclosed. “We believe the acquisition of this portfolio is a wonderful opportunity for the company,” says William C. Trimble III, CEO of Easterly. “This acquisition is expected to grow our …

Acquisitions, Civic, District of Columbia, Office, Southeast, Top Stories

Delta Unveils $1.86B Terminal Upgrade Project at LAX

LOS ANGELES — Delta Airlines, in a partnership with Los Angeles World Airports (LAWA), has unveiled plans for the $1.86 billion Sky Way project at Los Angeles International Airport (LAX). The undertaking calls for upgrades to two of the existing domestic terminals, as well as the Tom Bradley International Terminal, and delivery of infrastructure that connects the hubs. Construction of the project is scheduled to begin this fall. Upon completion, the terminals will offer a greater …

California, Civic, Development, Top Stories, Western

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