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John Hancock Buys Chicago’s 40-Story One South Wacker for $344 Million

John Hancock Buys Chicago’s 40-Story One South Wacker for $344 Million

John Hancock, the U.S. division of Manulife Financial Corporation, has acquired One South Wacker, a 40 story, 1,195,170 SF, office high-rise located in Chicago’s Central Business District’s West Loop. The purchase price for $344 million. The seller, Harbor Group International, acquired the property for about $220 million in 2012 and completed a major renovation in […]

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40 Units in Atlantic City Luxury High-Rise to be Sold in No-Reserve Auction

40 Units in Atlantic City Luxury High-Rise to be Sold in No-Reserve Auction

Buyers looking to get into a luxury high-rise condominium steps away from the beach and boardwalk in Atlantic City will have a once-in-a-lifetime opportunity when 40 units in the Bella are offered at absolute auction in June. Max Spann Real Estate & Auction Co., the high-end auction house, has scheduled the auction for Sunday, June […]

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Atlanta High-Rise Student Housing on Track to Open in August 2015

Atlanta High-Rise Student Housing on Track to Open in August 2015

University House Communities (UHC) announced today that as construction is nearing completion on University House Midtown, the student apartment community at 930 Spring Street is 100 percent pre-leased. In August, the community will welcome its first residents for the 2015/2016 school year, serving students from the Georgia Institute of Technology. The 20-story building, which features […]

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Deploying a Crisis Awareness Solution in a High-Rise

Deploying a Crisis Awareness Solution in a High-Rise

Most office buildings have an access control system that controls and monitors who enters a specific part of the building. To date, however, no high-rise building has had a crisis management system in place that can alert building security and law enforcement about an intruder, active shooter, medical condition, missing person, or disturbance. Until now, […]

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Chicago Athletic Association Hotel Reopens After Two Year Restoration

Chicago Athletic Association Hotel Reopens After Two Year Restoration

After a two-year restoration, Commune Hotels & Resorts has opened the 241-room luxury, boutique Chicago Athletic Association hotel. Built in 1890, the building features 17,000 square feet of event space, 241 guestrooms and suites, and a rooftop lounge with views of Millennium Park and Lake Michigan. “I am humbled to be a part of the […]

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Pre-War Park Avenue Penthouse Sells for $32 Million

Pre-War Park Avenue Penthouse Sells for $32 Million

Macklowe Properties has sold the penthouse at its 737 Park Avenue condominium project, a pre-war building located at the Northeast corner of 71st Street, for $32,000,000. It’s the second most expensive penthouse sale in the history of Park Avenue. Purchased by Macklowe Properties in 2011, the 1940 Sylvian Bien designed building has undergone four years […]

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Chicago High-Rise Uses Innovative Thermal Breaks for Concrete Balconies

Chicago High-Rise Uses Innovative Thermal Breaks for Concrete Balconies

Chicago’s City Hyde Park, a 15-story development located at 5105 South Harper Avenue, is designed by Studio Gang Architects and set to complete construction this year. Antheus Capital and Silliman Group are the developers behind the 500,000 square foot mixed-use project. This will be the first project in Chicago to incorporate Schöck Isokorb structural thermal […]

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Investors Snap up Institutional Quality Office Assets in Philly’s CBD

Investors Snap up Institutional Quality Office Assets in Philly’s CBD

CBREI has acquired United Plaza and 1650 ARCH, two Class A office buildings located in Philadelphia’s Central Business District for approximately $200 million. JLL managing directors Doug Rodio and James Galbally and senior vice president John Plower led the JLL team on the sales transactions. Managing director Dustin Stolly and vice president Aaron Niedermayer, both […]

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Mixed-Use On the Rise: Challenges and Solutions for a New Breed of High-Rises

Mixed-Use On the Rise: Challenges and Solutions for a New Breed of High-Rises

Leah Grout Garris | May 22, 2015

Although they’re not incredibly common yet in the United States, mixed-use towers are growing in popularity. They maximize building infrastructure, address density issues, and capitalize on building owners’ investments through multiple income streams. They also provide a type of investment diversification (when office lease rates are down, residential leases may be up, for example). But many of today’s commercial architects find themselves working on…

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Durst Creates Outdoor Terrace at Midtown East High-Rise

Durst Creates Outdoor Terrace at Midtown East High-Rise

High Rise Facilities | May 21, 2015

A New York City boutique law-firm, Rosenberg & Estis, P.C., has opened a new, 4,600-square-foot terrace on the 12th floor of 733 Third Avenue. The law firm gained access to the terrace as part of the renewal and expansion transaction it signed this past year with building owner The Durst Organization at the Class A, […]

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First Residential Tower at Metropolis L.A. Now 50% Sold

First Residential Tower at Metropolis L.A. Now 50% Sold

High Rise Facilities | May 20, 2015

Tower 1 of Metropolis Los Angeles, a Gensler-designed mixed-use project in Downtown Los Angeles is now over 50% in contract. “Metropolis LA has garnered an unprecedented amount of interest from buyers in this market,” said Susan de França, President & CEO, Douglas Elliman Development Marketing, the firm marketing the Tower 1 residences. “The pace of […]

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Hightower Secures $13 Million in Series B Funding Round

Hightower Secures $13 Million in Series B Funding Round

High Rise Facilities | May 19, 2015

Hightower, a leasing management platform for the commercial real estate industry, today announced it has raised $13 million in Series B funding. RRE Ventures led the funding round with participation from Bessemer Venture Partners, Thrive Capital, and Pritzker Group Venture Capital. This series brings Hightower’s total venture backing to $22 million, making it one of […]

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SL Green to Acquire Eleven Madison Avenue for $2.6 Billion

SL Green to Acquire Eleven Madison Avenue for $2.6 Billion

High Rise Facilities | May 19, 2015

In one of New York City’s biggest real estate transactions ever, SL Green has agreed to acquire Eleven Madison Avenue for $2.285 billion plus approximately $300 million in costs associated with lease stipulated improvements to the property. The building is being sold by a joint venture of The Sapir Organization and CIM Group. The transaction […]

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Inside HRF: Chilled Beam Systems

Inside HRF: Chilled Beam Systems

High Rise Facilities | May 15, 2015

When it comes to HVAC developments, chilled beams may be one of the newest. First created in Norway in 1975, chilled beams have become most popular in Europe. But the technology is slowly emerging in the United States as an alternative to traditional systems. Three types of chilled beams are currently available for commercial buildings: […]

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Tall Building Challenges Discussed at Dubai’s Smart Skyscrapers Summit

Tall Building Challenges Discussed at Dubai’s Smart Skyscrapers Summit

High Rise Facilities | May 14, 2015

The roadmap for skyscraper development in Dubai was charted out at the second annual Smart Skyscrapers Summit that concluded in Dubai this week. The summit was held under the patronage of the Dubai Municipality and was produced by Expotrade. The summit was attended by over 350 participants, with an agenda that featured over 20 keynote […]

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Charlotte, N.C. High-Rise Cuts Water Use by 27%

Charlotte, N.C. High-Rise Cuts Water Use by 27%

High Rise Facilities | May 13, 2015

Institutional real estate investment manager American Realty Advisors has dramatically reduced water consumption for its office property South Tryon Square, located at 201 S. Tryon in Charlotte, North Carolina. The firm reduced water consumption at South Tryon Square by 27 percent, and was recognized as a leader in water conservation by the Environmental Protection Agency. […]

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Stiles Sells High-Rise Miami Office Building for Record Price

Stiles Sells High-Rise Miami Office Building for Record Price

High Rise Facilities | May 13, 2015

Fort Lauderdale-based Stiles, has sold 800 Brickell, a 209,122-square-foot high-rise office building located on Brickell Avenue in Miami, Florida. The property was purchased by RREEF Property Trust, a real estate investment management business of Deutsche Bank, for $111.6 million or $533 per square foot. According to Stiles, the sale represents the highest price per square foot in the […]

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Miami Design District High-Rise to Break Ground This Month

Miami Design District High-Rise to Break Ground This Month

High Rise Facilities | May 12, 2015

Mack Real Estate Group’s Miami residential high-rise known as 3635 NE 1 Avenue is scheduled to break ground this month. ADD Inc. is the firm responsible for both the architecture and interior design of District 36, a mixed-use residential building that will serve to connect the Miami neighborhoods of Midtown and the Miami Design District. […]

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When Cushman & Wakefield Merges With DTZ, Revenues Will Top $5.5 Billion

When Cushman & Wakefield Merges With DTZ, Revenues Will Top $5.5 Billion

High Rise Facilities | May 12, 2015

Cushman & Wakefield and DTZ have reached a definitive agreement to merge and are set to become one of the largest global real estate services companies. The new company, which will operate under the Cushman & Wakefield brand, will have revenues over $5.5 billion, over 43,000 employees and will manage more than 4 billion square […]

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Elevator Installation Begins at World’s Future Tallest Skyscraper

Elevator Installation Begins at World’s Future Tallest Skyscraper

High Rise Facilities | May 11, 2015

Elevator installations at the new Kingdom Tower construction site in Jeddah, Saudi Arabia have recently commenced. The Kingdom Tower project, which is owned and developed by Jeddah Economic Company (JEC), will be the world’s tallest building once completed in 2018 and is expected to rise to a height of more than one kilometer. KONE Areeco, […]

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Lerch Bates Joins Design Team for New L.A. High-Rise Complex

Lerch Bates Joins Design Team for New L.A. High-Rise Complex

High Rise Facilities | May 8, 2015

Downtown Los Angeles is currently undergoing an extraordinary revival as new significant construction projects continue to revitalize the area. Lerch Bates has been awarded coveted contracts by architecture firm RTKL to design the vertical transportation and façade access systems (and waste management) for Oceanwide Plaza (formerly known as Fig Central). A groundbreaking ceremony for the […]

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Letting the Sun Shine in at the Holiday Inn Chicago Mart Plaza

Letting the Sun Shine in at the Holiday Inn Chicago Mart Plaza

Bruno LaMountain | May 8, 2015

The Holiday Inn Chicago Mart Plaza is located atop the landmark, 24-story mixed use Apparel Center. The hotel sits near the confluence of the East, North and South branches of the Chicago River. The complex was designed by Skidmore, Owing and Merrill, known for designing some of the tallest buildings in the world. The 2.5- […]

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Theresa Morzello, CBRE Group: It Takes a Village to Run a High-Rise

Theresa Morzello, CBRE Group: It Takes a Village to Run a High-Rise

Leah Grout Garris | May 7, 2015

Theresa Morzello, managing director for CBRE Group Inc. in New York City, explains why she thinks there shouldn’t be hard-and-fast rules in property management. Even though Theresa Morzello, managing director for CBRE Group Inc., has years of property management experience under her belt, the sheer size of a high-rise tower still gives her a rush. […]

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