For most brick-and-mortar retailers, visibility to remain top-of-mind is at the forefront of operational decisions. Not so for microbreweries. In fact, it’s not as much about where a brewery is located as it is about how it is designed. For this still fairly young industry, brewery architecture and design are nearly as important as the beer itself. Microbreweries are quickly taking the Southeast by storm as places to taste and enjoy a fine beverage, as well as spend an enjoyable afternoon..
LAS VEGAS — Golden Entertainment Inc. (NASDAQ: GDEN) has agreed to acquire American Casino & Entertainment Properties LLC, which owns four gaming and entertainment properties in Nevada, for $850 million. American Casino & Entertainment’s portfolio features 3,879 slot machines, 89 table games and 4,895 hotel rooms in Las Vegas and Laughlin, Nevada. Properties include: The Stratosphere Casino, Hotel & Tower, featuring an 80,000-square-foot casino, 2,427 guestrooms and..
LAS VEGAS — With more than 30 years of experience representing tenants and landlords in retail negotiations, Jedd Nero, principal and executive managing director at Avison Young’s New York office, has worked with household-name retailers such as Hershey’s, Hugo Boss and Verizon Wireless. Nero was one of about 37,000 retail professionals who attended ICSC RECon in Las Vegas in late May. As the crowd jostled through the Las Vegas Convention Center in search of their next networking..
SAN FRANCISCO AND WASHINGTON, D.C. — Data center REIT Digital Realty Trust Inc., (NYSE: DLR) has entered into an agreement to acquire competitor DuPont Fabros Technology Inc. (NYSE: DFT) in an all-stock merger with an enterprise value of $7.6 billion. The deal’s enterprise value includes $1.6 billion of assumed debt that is expected to be refinanced with a combination of investment-grade corporate bonds, among other securities. The merger is expected to close during the third or fourth..
WASHINGTON, D.C. — CapitalSource has provided a $100 million loan for the construction of Portals Residential Phase V Building, located in downtown Washington. The 373-unit multifamily property will be 13 stories tall. Units will range in size from 506 square feet to 3,400 square feet. Portals Residential Phase V Building is part of the final phase of a 3 million-square-foot development project that includes the Mandarin Oriental Hotel and three Class A office buildings. The building..
VANCOUVER, WASH. — Gramor Development Inc., a privately held firm based in Oregon, has secured a round of construction financing for Phase I of its $1.5 billion mixed-use project along the Columbia River in Vancouver. Known as The Waterfront Vancouver, the project will span 20 city blocks and 32 acres and feature residential, office, retail and restaurant space, as well as a Hotel Indigo. U.S. Bank provided a $42.5 million construction loan to Gramor Development for Block 6 Office and..
HERNDON, VA. — A new forecast released by the NAIOP Research Foundation calls for approximately 39.7 million square feet of net absorption of office space in 2017. That is about 10 million square feet per quarter — similar to the 41.4 million square feet absorbed in 2016. Greater than expected hiring in the office-using sectors of the economy led to 14.8 million square feet of positive net absorption in the fourth quarter of 2016, well above the 7.8 million square feet that had been..
BOSTON — Oxford Properties Group has provided a $180 million loan for the refinancing of One Congress Street and the Government Center Garage in Boston. The 11-story, mixed-use asset includes a 1,960-space parking garage with 202,854 square feet of office space and 23,212 square feet of retail space. The borrower was a joint venture between National Real Estate Advisors LLC and its Boston-based development partner, The HYM Investment Group LLC. HFF worked on behalf of the borrower to..
LOS ANGELES — Singapore-based Mapletree Investments Pte Ltd. has acquired a portfolio of eight student housing communities and four multifamily properties from Los Angeles-based Kayne Anderson Real Estate Advisors for $1.6 billion. The student housing portion of the portfolio consists of 3,611 beds in the United States and 140 beds in Canada. Properties include: WaHu — an 825-bed community located near the University of Minnesota in Minneapolis The District at Campus West — a..
Are the below-average monthly job gains recorded in May due to a labor shortage, or is there weakness emerging in the employment market? That’s the crucial question in the wake of the latest job figures released by the Bureau of Labor Statistics (BLS), which showed employers added 138,000 nonfarm payroll jobs in May, well below the 12-month average of 181,000 positions. Meanwhile, the unemployment rate fell from 4.4 percent in April to 4.3 percent in May. “Most evidence points toward..