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April 20, 2015

What Raytheon's nearly $2 billion cyber play means to its defense business

Raytheon Co.’s decision to make a $1.7 billion equity investment to stand up a cyber products company may be the boldest move made by any defense contractor to tap commercial opportunities. And it will mostly be at the exclusion of Pentagon business.

Raytheon (NYSE: RTN) executives were quick to point to “cross-selling” opportunities for the new joint venture during a call with analysts Monday about the acquisition, given Raytheon’s cyber focus within the Dulles-based Intelligence, Information…

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April 20, 2015

Exclusive: Phoenix Class A office building sells for $58M

Lincoln Property Co. and Oaktree Capital Management have bought a Class A office building at Camelback Road and 32nd Street in Phoenix.

The pair acquired the 259,000-square-foot Biltmore Commerce Center for $58 million.

It sits on the northeast corner of the Biltmore area intersection.

Denver-based DPC Development Co. bought the Biltmore center back in 2013 for $42.8 million. DPC put a number of upgrades and renovations into the building. The sale closed Friday.

DPC Director of Acquisitions Justin…

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April 20, 2015

UNLOCKED STORY: A peek into Madisonville’s future

The city of Cincinnati has been investing in Madisonville’s future for a while now, and the neighborhood could finally be prepared for some big changes in the next year.

Paula Christian explored the resurgence of the mixed-race neighborhood in a print cover story last month that is now unlocked for all Business Courier readers online.

The area’s resurgence is centered on a large mixed-use project in downtown Madisonville that will be developed by Ackermann Group and St. Francis Group. Construction…

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April 20, 2015

Exclusive: Weld expands coworking space to Nashville

Dallas’ collaborative work and studio space, Weld, has begun expanding outside of North Texas.

A year and a half after opening the Dallas location, just south of the Medical District, Weld decided it was ready to expand. The company hosted a voting campaign asking users to choose where Weld should go next: Austin, Colorado Springs or Nashville.

“We had a lot of people saying you’ve got to build one of these in our city,” said Austin Mann, travel photographer and founder of Weld. “So we…

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April 20, 2015

Prologis buys KTR Capital portfolio in $5.9 billion deal

Prologis, a San Francisco-based real estate investment and development company, has acquired a $5.9 billion portfolio from KTR Capital Partners.

The portfolio includes 60 million square feet in 322 properties located in California, New Jersey, Florida, Chicago, Seattle and Dallas.

Also included in the purchase is 3.6 million square feet of in-progress construction and a land bank large enough for 6.8 million square feet of development.

Prologis (NYSE: PLD) will purchase the portfolio as part of…

By SEO Admin