ORLANDO, FLA. — Orlando has topped CBRE’s list of tech talent momentum markets in the firm’s annual Scoring Tech Talent Report, which measures growth and acceleration in 50 cities across the United States and Canada. Over the two-year period from 2017-2018, the tech talent labor force in Orlando grew 14.1 percent compared with the previous two-year period. According to the study, San Diego and Chicago were the second and third fastest growing cities with 10.2 percent and 8 percent increases from 2017-2018, respectively. Cleveland (7.9 percent) and Long Island, N.Y. (7.1 percent) round out the top five growing markets. CBRE also found that the number of students completing tech degrees in Orlando increased 59.1 percent from 2013 to 2017, a year in which 2,744 students completed such degrees in Orlando. The report found that the 10 fastest-growing markets increased their tech labor pools between 33 and 54 percent over the past five years.
FORT WORTH, TEXAS — Former Transwestern principal Sarah LanCarte, who most recently worked at investment firm Fort Capital, has launched LanCarte Commercial, an investment and brokerage firm serving the metroplex. Her team includes vice president David De Carion, industrial brokerage associate David Corley and client and transaction manager Lori Loftis. The firm has already closed its first deal, the acquisition of a 6,000-square-foot office building in downtown Fort Worth, which will serve as its base of operations.
HOUSTON — Charming Charlie, a women’s fashion and beauty chain based in Houston, filed for Chapter 11 bankruptcy on Thursday. It is the second time the retailer known for its colorful displays of jewelry, handbags, apparel and beauty products has filed for bankruptcy in less than two years. The company now plans to close all 261 of its remaining stores across 38 states. The retailer’s first filing was in December 2017, and the financial restructuring was completed the following April. However, the company continued to struggle following the reorganization and, according to the new filing, only has $6,000 in cash on hand compared to debt of $82 million. The Charming Charlie website was not accepting e-commerce orders during the first restructuring, but had just relaunched in August 2018. As of this morning, the site was once again not accepting orders. The stores are located almost exclusively in malls, with 125 locations in lifestyle centers, 80 in shopping malls and 50 in power centers. The remaining locations are two street stores and four outlets. Texas, Florida and California host the most brick-and-mortar locations with approximately 75 stores in total. “The large format of the store of about 7,500 feet, especially given …
NEW YORK CITY — Boston-based Colliers International Group has formed Colliers Project Leaders | USA, a division of the global investment firm that combines project management, development management, planning and advisory services into one division. The new unit will focus on projects for a range of property types in the Northeast tri-state area, including healthcare, residential, mixed-use, hospitality and retail. In the United States and Canada, Colliers Project Leaders serves corporate, institutional and public sector clients with more than 780 professionals from 33 offices.
NEW YORK CITY — Two construction management firms with offices in the Northeast will become part of the same operation on July 1. That’s when Consigli Building Group, a $1.6 billion company with five regional offices, acquires New York City-based T.G. Nickel & Associates. The acquisition will allow the new entity, which will be branded as Consigli, to take on new types of projects in the healthcare and academic spaces. Once the deal closes, Nickel CEO Thomas Nickel, who founded the company in 1998, will become CEO of Consigli’s New York City Metro Operations. Nickel co-founder Joseph Chiarelli will be promoted to president of the company’s New York City operations.
MAITLAND, FLA. — Equinox Development Properties Inc. has hired Genny Hall as senior vice president and a partner to oversee the leasing for all developments and retailer relationships. Hall has more than 15 years of retail brokerage experience. Prior to joining Equinox, Hall served as the managing director of retail services at Colliers International in Central Florida. Maitland, Fla.-based Equinox Development specializes in developing retail, mixed-use and boutique commercial projects.
RENO AND LAS VEGAS, NEV. — Eldorado Resorts Inc. (NASDAQ: ERI) and Caesars Entertainment Corp. (NASDAQ: CZR) have agreed to merge operations in a cash and stock deal valued at $17.3 billion. Eldorado plans to purchase the assets and operations of Caesars, creating the world’s largest gaming company. If approved and executed, the combined company would operate under the Caesars name and continue to trade on the Nasdaq Global Select Market. The combined company would own and operate approximately 60 casino-resorts and gaming facilities across 16 states. The combined company will also oversee the completion of the $1.2 billion room remodeling program of Caesars’ Las Vegas Strip assets. Eldorado will acquire all the outstanding shares of Caesars using $7.2 billion in cash, approximately 77 million Eldorado common shares and the assumption of Caesars outstanding net debt, excluding face value of the existing convertible note (i.e. short-term debt that converts to equity). Eldorado and Caesars shareholders will hold approximately 51 percent and 49 percent of the combined company’s outstanding shares, respectively. The combined company’s board of directors will consist of 11 members, six from Eldorado’s board of directors and five from Caesars’ board of directors. The board of directors for both …
ATLANTA — State Farm Arena, home of the NBA’s Atlanta Hawks, has received a Leadership in Energy and Environmental Design (LEED) Gold Certification from the U.S. Green Buildings Council (USGBC). Situated in downtown Atlanta, State Farm Arena was certified due to efforts that include a partnership with Rubicon Global to recycle 12,500 seats in 2018 following its $192 million makeover; the arena and surrounding area becoming a smoke-free campus; upgrading the lighting fixtures to LED lighting, which led to 41 percent lighting power reduction; installing more efficient plumbing fixtures that will save 540,000 gallons of potable water per year; and more than 900 tons of waste was sent to Atlanta’s Lifecycle Building for resale, instead of going to the dump. There are four levels of LEED certification, according to the USGBC: Certified, Silver, Gold and Platinum. State Farm Arena, previously known as Philips Arena, is owned by the Atlanta-Fulton County Recreation Authority and operated by the Atlanta Hawks Basketball Club, which is owned by Tony Ressler along with a group of investors including Naismith Memorial Basketball Hall of Famer Grant Hill.
ATLANTA — Choate Construction will celebrate its 30th anniversary this month. In its 30 years, the Atlanta-based general contractor has completed more than 5,200 projects, ranging from student housing to automotive plants to manufacturing facilities. Choate has also expanded to Nashville and has almost 500 employees. The company is 100 percent employee-owned. “While we have grown a lot, there are some things that haven’t changed: The core values that have guided us from the start. Safety, integrity, innovation, operational excellence, relationships, stewardship,” says Millard Choate, chairman and CEO. “They are the framework that will continue to shape us each and every day.”
AUSTIN, TEXAS — Cushman & Wakefield has acquired the office operations of office brokerage and management firm Peloton Commercial Real Estate. The acquisition does not affect Peloton’s other offices in Dallas, Fort Worth and Houston. Under the terms of the deal, 40 Peloton employees, including partners Kevin Granger, Brian Liverman and Matt Frizzell, will join Cushman & Wakefield in the firm’s Austin office. Andrew McDonald, president of Cushman & Wakefield’s west region, cited Peloton’s intimate knowledge of a fast-growing market as an asset to C&W’s business, which will continue to serve both startup and established corporate office users and investors.