REBusinessOnline

Texas Instruments to Open $3.1B Manufacturing Facility in Metro Dallas, Create 500 Jobs

RICHARDSON, TEXAS — Dallas-based Texas Instruments (NASDAQ: TXN) will open a $3.1 billion manufacturing facility in Richardson, a northeastern suburb of Dallas, in a move that is expected to create approximately 500 new jobs. Texas Gov. Greg Abbott made the announcement on Thursday, April 18. The facility, which local news sources report will span approximately 870,000 square feet, will be dedicated to the manufacturing of semiconductors and chips used in a variety of devices, including …

Development, Industrial, Texas, Top Stories

PCCP Funds $103M Development Loan for Google-Leased Office Building in California

MOUNTAIN VIEW, CALIF. — Renault & Handley Mid-Peninsula Joint Venture has received a $103 million senior loan for the development of 600 Clyde Avenue, a 189,974-square-foot office building fully preleased to Google in Mountain View. PCCP LLC provided the loan for the five-story building, which will be situated on 5.2 acres. The property is slated for delivery in July 2020. When completed, the project will feature a 9,600-square-foot sky deck with outdoor seating and working …

California, Loans, Office, Top Stories, Western

SL Green Signs First Republic Bank to Anchor Office Building Redevelopment in Manhattan

NEW YORK CITY — SL Green Realty Corp. has signed First Republic Bank to a 211,521-square-foot lease at 460 W. 34th St. in the Hudson Yards neighborhood on Manhattan’s west side. First Republic Bank will occupy a portion of the ground and mezzanine floors with two new retail bank branches, as well as the entire second through sixth floors for its corporate office space. The lease term is 15 years. SL Green, which is self-described as the largest office landlord in New York City, had …

Leasing Activity, New York, Northeast, Office, Top Stories

Marquee Move: Warner Bros. to Purchase Portion of Burbank Studios, Anchor Office Campus in $1B Deal

BURBANK, CALIF. — Entertainment and media giant Warner Bros. has inked a deal to purchase a portion of The Burbank Studios, a new 35-acre film, TV, broadcast media and new media campus in Burbank formerly known as NBC Studios. The purchase includes office space, eight soundstages, a mill building and a commissary. The seller is Worthe Rea Estate Group, a Los Angeles-based office developer. Additionally, Warner Bros. inked a lease to be the sole and long-term tenant of a planned …

Acquisitions, California, Development, Office, Top Stories, Western

Discount Retail Chain Fred’s to Close 159 U.S. Stores by June

MEMPHIS, TENN. — Fred’s Inc. (NASDAQ: FRED), a discount chain and pharmacy, will close 159 underperforming U.S. stores, approximately 30 percent of the company’s total footprint. Memphis-based Fred’s will have about 400 general merchandise stores left open following this round of closures. Fred’s, which competes with smaller-format discount retailers like Dollar General as well as big-box stores like Walmart, also owns and operates two additional chains: Getwell Drug & Dollar …

Leasing Activity, Retail, Top Stories

Greenberg Gibbons, Seritage Growth Partner for $150M Redevelopment Project at Metro Baltimore Mall

COCKEYSVILLE, MD. — Greenberg Gibbons has formed a joint venture with Seritage Growth Properties to redevelop a 13.8-acre parcel at Hunt Valley Towne Center in Cockeysville. Greenberg Gibbons owns the property, a mixed-use shopping center situated at 118 Shawan Road, 18 miles north of downtown Baltimore. Initial plans for Phase I of the $150 million redevelopment include renovations to the former two-story Sears building and Sears Auto Center. Michael’s and HomeGoods are open on the …

Development, Maryland, Southeast, Top Stories

Brightmark Energy Receives $260M Financing for Plastics-to-Fuel Plant in Indiana

ASHLEY, IND. — Brightmark Energy has received $260 million in financing to build the nation’s first commercial-scale plastics-to-fuel plant in Ashley, a small town of fewer than 1,000 residents in the northeast corner of Indiana. The financing includes $185 million in Indiana green bonds, which were underwritten by Goldman Sachs & Co. Brightmark plans to invest $47 million in the plant, according to KPC News, a local news outlet. Brightmark is the controlling owner of RES …

Development, Indiana, Industrial, Midwest, Top Stories

Dropbox Signs 120,886 SF Lease at Spec Office Tower Under Construction in Seattle

SEATTLE — Dropbox Inc. has leased four floors totaling 120,886 square feet at a speculative office tower currently under construction in Seattle’s central business district. Skanska is developing the 38-story building, known as 2+U. Dropbox, a San Francisco-based file storage and sharing company, is expected to occupy the space at 2+U in late 2020. With this new signing, 2+U is now 60 percent leased. Other tenants joining Dropbox include Indeed.com and coworking firm Spaces. The …

Leasing Activity, Office, Top Stories, Washington, Western

Chuck E. Cheese to Trade on New York Stock Exchange Following $1.4B Merger

IRVING, TEXAS — Following a merger with the parent company of the Chuck E. Cheese brand, London-based Leo Holdings Corp. plans to rebrand itself and take the new company public on the New York Stock Exchange (NYSE) under the ticker symbol “CEC.” The enterprise value of the combined company, which will be known as Chuck E. Cheese Brands Inc., is estimated at $1.4 billion. Leo Holdings, which is self-described as a special purpose acquisition firm, has entered into a “definitive …

Acquisitions, Company News, Restaurant, Retail, Texas, Top Stories

Parent Company of Kay, Zales, Jared to Close 150 Jewelry Stores

HAMILTON, BERMUDA — Signet Jewelers (NYSE: SIG), which owns jewelry retailers Kay, Zales and Jared, will close approximately 150 North American stores after the 2019 holiday shopping season, the company said in its latest earnings report. These store closings follow Signet’s previous shuttering of 262 stores, most of them in North America, and are part of a larger downsizing program that will reduce the Bermuda-based retailer’s total store count by 13 percent over a three-year …

Leasing Activity, Retail, Top Stories
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