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February 9, 2015

Chinese group pays $46M for downtown Bellevue development site

Beacon Capital Partners on Friday sold a 3-acre downtown Bellevue development site for $45.9 million to a Chinese group that already owns a large adjacent property.

The latest acquisition gives Plus Investment USA control over about half the block on the south side of Northeast Eighth Street between 108th and 110th avenues northeast. A year ago, Plus paid $30 million for the Bellevue First Congregational Church property on the west end of the block.

Public records list the buyer of Beacon’s property…

By SEO Admin
February 9, 2015

D.C. to nearly triple spending on South by Southwest trip

D.C. is making a big bet on Austin’s famed South By Southwest festival next month in hopes of luring tech entrepreneurs to the District.

The city will spend more than $475,000 on its five-day visit to the festival next month, according to The Washington Post, with more than half the budget going toward the temporary conversion of an Austin restaurant into a “We D.C.” lounge and work space during the day and a party venue at night.

The bump in expenses — a 182 percent increase over last year’s…

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February 9, 2015

Timbervest sells 19,700 acres in Georgia, Pennsylvania for $33.9 million

Timbervest LLC sold nearly 20,000 acres of timberland in Georgia and Pennsylvania for $33.9 million.

The Atlanta-based company said the deal included the sale of 18,500 acres in Stewart County, Ga., to an institutional timberland investment group and 1,134 acres in Pennsylvania’s Franklin and Green counties to an undisclosed buyer.

Timbervest currently manages more than 600,000 acres of timberland, timber-related assets and other real estate investments with a market value of more than $1.4 billion.

By SEO Admin
February 9, 2015

Ashley Capital may get Sturtevant financing for I-94 spec industrial building

Ashley Capital may start construction this spring on a $10 million, 374,400-square-foot speculative industrial building in Sturtevant and could receive village financing for some of the work.

The Ashley Capital building is planned at Durand Avenue and West Road. It is the result of a border agreement Sturtevant and Mount Pleasant sealed last year.

It joins the rush of new industrial buildings sprouting up along Interstate 94 as developers take advantage of the continued strong demand for manufacturing…

By SEO Admin
February 9, 2015

Raleigh planners forward Falls Lake grocery store application amid neighborhood opposition

A revised plan for the hotly contested Dunn Road grocery center site near Falls Lake in north Raleigh has been deemed “compatible” with the city’s comprehensive plan and future land use map, according to a new city staff report that will be presented at the Raleigh Planning Commission meeting on Tuesday.

But, revisions to the plan are expected to still face opposition from its neighbors and may have also run off its potential anchor tenant, Publix Supermarkets.

Morgan Property Group, the development…

By SEO Admin