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San Antonio RE News

Commercial Real Estate Industry News Headlines | Bizjournals.com

Commercial Real Estate news
  • It’s been a long road for the founders of Flying Star Cafes, an Albuquerque restaurant brand that filed for Chapter 11 bankruptcy in 2015. Mark and Jean Bernstein will bid $2.8 million for the company they started in 1987, as well as an additional $348,328 to Flying Star’s unsecured creditors over two years. The Bernsteins’ plan is now the only bid on the table, after the creditors’ committee agreed to withdraw its own plan that would’ve put Southwest Brands in charge. Albuquerque-based…

  • A new hotel brand has taken over the former site of Beverly Heritage Hotel in Milpitas. The 236-room hotel is now Sonesta Silicon Valley. Sonesta International Hotels Corp. has more than 60 hotels in seven countries, including 37 in the United States, but the Milpitas location at 1820 Barber Lane is the company's first hotel on the West Coast. "We've had aspirations on California for a long time," said Carlos Flores, Sonesta president and CEO. "Silicon Valley being a very unique market in a very…

  • A buyer is moving into place for Beaver Valley Mall. Great Neck, N.Y.-based Namdar Realty Group has reached an agreement to buy Beaver Valley Mall from Philadelphia-based Pennsylvania Real Estate Investment Trust (NYSE: PEI), according to sources familiar with the deal. Namdar was not immediately available for comment. Nor were officials for PREIT, which indicated in an investor report in November that Beaver Valley Mall was under agreement to be sold. PREIT formally announced it was marketing…

  • The fire that raged at Trademarks Metal Recycling near Port Tampa Bay — the second in five years— was apparently caused by spontaneous combustion. That’s the initial determination of Hillsborough County Fire investigators, according to a news release. The conflagration at Florida’s largest scrap metal recycler on Port Sutton Road in Tampa was reported around 5 p.m. on Dec. 2, when the company called about a 20-foot outdoor pile of metal that was aflame. There were no reported injuries and…

  • The historic weather beacon sitting atop the 20-story downtown Milwaukee Gas Light Building has shown mostly blue over the past two years. The 21-foot-tall beacon, installed in 1956, indicates the weather using a clever poem that concludes: “When the flame is blue, there’s no change in view.” But the flame has rarely shown red, indicating “warm weather ahead,” or gold, to “watch out for cold” in recent years because it has been manually operated, said Kim Guerrero, senior property…