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Commercial Real Estate Industry News Headlines | Bizjournals.com

Commercial Real Estate news
  • The former Wellington Hotel Annex in downtown Albany, New York loudly collapsed into a large pile of bricks and concrete this morning as a planned implosion quickly brought down the nearly 100-year-old building. The 11-story building at Howard and Eagle streets, around the corner from the Capitol, was demolished to clear the site for construction of a new, $66.5 million convention center. The convention center, which has been in the works for 20 years, is a key piece of economic development efforts…

  • Downtown Milwaukee, compared with cities such as Cincinnati and Indianapolis, has a higher income level among residents there but the lowest number of clothing stores, according to Buxton Consulting. Buxton is a nationwide company that retailers turn to for market data to decide which areas could support new stores. On behalf of the Milwaukee Business Journal, the company analyzed Milwaukee versus two similarly sized cities. The firm's full results are included in a story in the Aug. 22 edition…

  • Two real estate arms of the Church of Jesus Christ of Latter-day Saints have swapped ownership of land in the outer suburbs of Phoenix. Property Reserve Inc. has sold at least 16 parcels to Suburban Land Reserve Inc. for $104.2 million, according to Maricopa County Records. Both companies are real estate affiliates of the Mormon Church. Both are also major buyers of real estate across the U.S. and the Southwest. Real estate industry officials say the land sale between LDS brethren companies involves…

  • Dallas-based real estate investment firm Gaedeke Group LLC plans to bankroll a major renovation for Oak Lawn Plaza, an office building located in the high-trafficked entry to the Dallas North Tollway from the city's urban core. The firm is one of a number of investment groups banking on the city's rising real estate values and putting money into their own office properties. Other office buildings, such as Thanksgiving Tower, Bank of America Plaza and 2100 Ross, are in the midst of multimillion…

  • A Southern California that already owns business hotels, an office complex and multifamily properties in the Phoenix area has bought a Chandler, Ariz. apartment complex for $35.5 million MIG Real Estate purchased the 234-unit Symphony Apartments in Chandler near Frye and Dobson roads. There have been a slew of apartment complex sales including a good number involving California buyers and sellers. CBRE brokers Tyler Anderson, Sean Cunningham and Asher Gunter negotiated the sale. The seller was…