Power Tools for Commercial-Investment Practitioners

Hilton Hotels Corporation recently entered a joint venture with DLF Limited -- a leading real estate developer in India -- to build several hotels in the country over the next seven years. According to a spokesperson for Hilton, the development of 50 to 75 hotels in India will be Hilton's "first major significant international expansion opportunity... outside North America." India was chosen for several reasons: a booming economy, a growing middle class with money to spend, and discount air travel options aplenty. Wal-Mart is making plans to set up shop in India, too. The discount retail giant recently agreed to "jointly explore business opportunities" with Bharti Enterprises.

Posted on November 28 at 04:01 PM | Permanent Link | Add a Comment (0)

The Blackstone Group, a New York buyout firm, recently agreed to acquire Chicago-based office building owner, Equity Office Properties Trust, for $36 billion. The arrangement is "among the largest ever to take a publicly traded company private" and is also "the largest real estate transaction ever in the United States." Several key buildings that comprise Chicago's landscape will be under new ownership including the dual towers that connect the Chicago Mercantile Exchange and the Civic Opera Building.

Posted on November 21 at 11:50 AM | Permanent Link | Add a Comment (0)

Shopping centers are evolving into "retail-laden town centers where visitors can do a lot more than just shop." Roughly 150 of these lifestyle centers are currently operating in the United States and their popularity has grown immensely in recent years. What exactly is a lifestyle center, you ask? Technically, it is defined as "an open-air shopping center that has a main street design." These urban shopping villages not only offer more entertainment offerings than a traditional mall, the village square atmosphere's emphasis on design and landscaping offers a sense of community. Entertainment options include an eclectic mix of upscale boutiques, restaurants, and theaters.

Posted on November 15 at 03:41 PM | Permanent Link | Add a Comment (0)

According to a recent market trends report by Grubb & Ellis, demand for upscale suburban retail in Tampa, Florida exceeds supply. Florida's Gulf Coast city, Apollo Beach, is fulfilling that demand. It will be the new home of Mira Bay Village, a 31-acre retail and residential upscale community 18 miles south of Tampa. Construction of the village, which is expected to cost approximately $20 million, will begin later this fall. Mira Bay Village will consist of approximately 1,900 residences, a small amount of office space, a 50,000-square-foot Sweetbay Supermarket, and other amenities such as "a place to gather, dine, work, shop for specialty items and be entertained."

Posted on November 2 at 03:35 PM | Permanent Link | Add a Comment (0)