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Carey Watermark Investors 2 Inc. acquired the 446-room Charlotte Marriott City Center Hotel, which Marriott calls its “Beta Hotel” for its concepts, for about $170M. The prototype hotel is flush with technology and instant feedback from guests. 
CWI 2 is a non-traded REIT formed to invest in hospitality properties. The seller was Marriott International. Marriott spent about $40M making capital improvements to the property, which were completed in 2016 to reposition it as a technologically advanced full-service…
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Canadian Investor Plans Upgrades To SouthPark Office Property
ICM Realty Group has started major renovation work on 6101 Carnegie Blvd. in SouthPark, with plans to spend about $1.5M upgrading the five-story, 107K SF office building. The work will include common-area renovations, restroom upgrades, redesigned entrances and lobbies, and…
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CRE Pricing Reverts To Post-Election Slump: Here Are How The 5 Sectors Fared In MayNationwide commercial pricing dropped 0.1% in May, a return to the slump the market has experienced since the election. Valuations rose in April, the only month since the election of President Donald Trump that commercial pricing improved in all five property sectors, according to Ten-X's monthly pricing index — which combines Google Trends data, proprietary transaction data and investor surveys to determine commercial real estate pricing trends in real time. “The broader tide of uncertainty is just sort of having an impact on all these numbers,” Ten-X Chief Economist Peter Muoio said. “It is sort of disappointing. The data is the data, but it does suggest that we're not out of the woods.” |
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7 Of The Most Eco-Conscious U.S. CitiesCities around the country are pushing for tougher sustainability standards and building more renewable energy infrastructure. A recent analysis by SaveOnEnergy ranked 200 U.S. cities based on their efforts to become eco-conscious cities. The organization analyzed each city's carbon footprint, walkability, bikability, and the number of recycling centers, electric vehicle charging stations, organic grocers and farmers markets, among other factors. |
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Childress Klein, Cambridge Healthcare Honored For VA Charlotte DevelopmentCharlotte-based Childress Klein and Cambridge Healthcare Solutions of Vienna, Virginia, have been awarded the 2017 John L. Martin Partnered Project of the Year Award, in the category of Buildings/Public Infrastructure Projects between $25M and $250M, by the International Partnering Institute. The project that earned them the accolade was the VA Charlotte Health Care Center, which they completed in 2016. Childress Klein-Cambridge teamed with RPA Design P.C. and J.E. Dunn Construction Group, and with the U.S. Department of Veterans Affairs used Neal Flesner and Ventura Consulting throughout the process. The outpatient center is to-date the largest VA health facility in the United States, augmenting the Salisbury VA Health Care System, which serves about 94,000 veterans per year. According to Cambridge President Michael Scott, the developers employed innovations such as BIM modeling for real-time permitting, and the final product likewise represents innovations in VA design, such as putting related parts of the facility adjacent to each other in ways that are more efficient, and as time passes, flexible enough to be modified without major renovations.
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