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Daily News: Thursday 1/16/20


$80 Million Mixed-Use Project Gets Approval

A massive mixed-use project has received final approval from Clemson’s Board of Architectural Review. The project, titled Dockside, will feature 640 residential units, 755 parking spaces, three public art installations, and 20,000 square-feet of commercial space. The project is expected to cost $80 million, and its estimated completion date is currently unknown.

Atlanta Expected to Deliver Almost Three Million SF of Office Space in 2020

A Colliers International Atlanta report has indicated that Atlanta is expected to open almost three million square-feet of Class-A office space throughout 2020. This unprecedented amount of construction was found by the report to corroborate the city’s growing rent prices, with metro Atlanta office buildings trading at a price per-square-foot that is 6.3% higher than last year.

CBRE Sells Continental Plaza For $123 Million

CBRE has announced the sale of Continental Plaza in Hackensack, N.J. for $123,000,000, marking the highest price paid for an office building within Bergen County in over five years. The plaza currently consists of three office buildings and a restaurant pad site, totaling 647,947 square-feet of space. The plaza also includes a fitness center, a conference center, a tenant lounge, and a full-service cafeteria.

Norfolk Investment Firms Snatches Up 54,986 SF Office Building

Azalea 888 LLC, a Norfolk,Va.-based real estate investment firm, has purchased a two-story office building in Norfolk Industrial Park for $4.1 million. The 54,986 square-foot Class B office space sits on approximately 4 acres of land and maintains a healthy occupancy rate. There are no indications about the firm’s plans following the acquisition.

Vestar Purchases 297K SF Shopping Center For $95 Million

Vestar, a shopping center owner and managing company, has recently purchased a six-property, 297,000 square-foot retail portfolio for $95 million in Lynnwood, Wash. This acquisition brings Vestars’ Washington shopping center portfolio to 1 million square-feet. The acquisition is considered savvy due to Lynnwood’s upcoming connection Seattle via a light rail line in 2024.

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