Raleigh real estate developer John Florian plans to build a 224-unit apartment building, called The Lincoln, on a two-acre site near Moore Square in downtown Raleigh.
A site plan that was recently filed at the Raleigh Planning Department.
The site plan shows a four-story building that would have a 321-space parking deck, a pool and an interior courtyard with a heavy mix of one-bedroom and some two-bedroom apartments along the perimeter of the block.
The downtown Raleigh city block where The Lincoln is planned is bound by E. Hargett Street, S. East Street, E. Martin Street and S. Bloodworth Street, and is located about one block east of Moore Square, or about four blocks from Fayetteville Street.
According to the site plans, JDavis Architects of Raleigh is the designer of Florian's The Lincoln project.
Las Vegas’ commercial real estate market will not fully recover anytime soon from the recession, but it has one perk: low-priced deals for investors.
Prices for strip malls, office buildings, warehouses and other commercial properties are about 20% below what they were in 2000, while other U.S. markets are 75% higher, said Glenn Mueller, a professor at the University of Denver’s school of real estate and construction management.
"I’d say to an investor, Las Vegas is a screaming buy," Mueller said Thursday at a commercial real estate symposium hosted by UNLV’s Lied Institute for Real Estate Studies.
Occupancy growth and rental rates are no longer at bottom but still trail most of the country.
An expected influx of Baby Boomer retirees could eventually help the commercial real estate market, given their need for retail, medical and financial management services, Mueller said.
According to local research firm Applied Analysis, the office market had a record 26.2% vacancy rate in the three months ending March 31, up from 25.1% a year earlier.
According to the brokerage firm CBRE Group, in the fourth quarter last year, Las Vegas had the highest office vacancy rate in the country and was tied with Cleveland for the fifth-highest retail vacancy rate.
It’s that time of year once again to head to Las Vegas for ICSC RECon 2013.
RECon is the global convention for the shopping center industry and provides networking, deal making and educational opportunities for retail real estate professionals from around the world.
With over 30,000 attendees and 1,000 exhibitors it is the largest industry convention, making it an unparalleled opportunity to do a year’s worth of business in just four days!
If you are looking to meet retailers to discuss new or existing leases in your centers, view the latest industry products and services that are critical to your business, attend over 30 educational sessions or find the next deal, then you need to attend RECon.
Click here to take a quick look at the Prezi from ICSC.
A new outlet mall is under construction in Rosemont, IL — the first enclosed mall to be built in the Chicago area in over a decade.
The $250 million mall, Fashion Outlets of Chicago, is scheduled to open this summer.
The two-level, 530,000-sq-ft center is being co-developed by AWE Talisman and the Macerich Company.
"The project is a game changer on several levels," said Arthur Weiner, chairman of AWE Talisman. "We’re in a prized area with a higher level of construction and amenities than you would normally see at an outlet center."
The mall, which is 90% leased, is focused on luxury retailers like Saks Fifth Avenue’s Off 5th, Last Call by Neiman Marcus, Bloomingdale’s the Outlet Store and Barneys New York.
To date, outlet stores have not been very prominent in the Chicago area, with the nearest outlet center — Chicago Premium Outlets in Aurora, Ill. — about 40 miles from downtown Chicago. Rosemont is a closer suburb and only 20 minutes from Chicago’s Michigan Avenue.
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