CIM Group Acquires Maryland Office Building for $39.1 Million
CIM Group, a Los Angeles based real estate investment firm, has acquired a five-story, 132,000 square-foot office building in Hunt Valley, Md. The LEED Gold designated building serves as the headquarters for a regional engineering and design firm and cost CIM $39.1 million to purchase. This acquisition represents the first in a long list of potential office and industrial properties CIM is eyeing across multiple markets.
Dartmouth College Nears Completion on $28 Million New Building
Dartmouth College is nearing completion on a new $28 million building for its School of Graduate and Advanced Studies, Department of Russian, and Department of Computer Sciences. The 33,000 square-foot building, named Anonymous Hall, features classrooms, office space, a rooftop terrace, and a café. The building represents another addition to Dartmouth’s greater $3 billion capital campaign.
New York Town Plans $6.97 Million New Public Facilities Building
The town of Colonie, N. Y. is planning to build a new office for the Pure Waters Department to provide individual spaces for industrial and administrative work to be done, while still consolidating the department under one roof. While final cost estimates are currently unknown, the highest price tag for the proposed building sits at $6.97 million.
Texas Town Making Progress on 140,000 SF Office Space
The construction of an office building in The Woodlands, Texas is proceeding according to plan. Once completed in summer 2020, the six-story building will provide 140,000 square-feet of usable space, though it is unclear how much space will be dedicated to office uses. The project’s estimated construction cost is also unknown.
Mixed-Use Building in Historic District of Californian City Sells for $8.8 Million
A building which lies in the historic district of Temecula, Calif. has been sold to Robles Brothers Investments, LLC for $8.8 million. The four-story mixed-use building currently features 25 residential units, 18 executive offices, a penthouse open-air bar and restaurants, and two restaurants on the ground floor.