Real Estate Blog

March continued a familiar pattern in the residential real estate sector: sales were down but prices were up.

There were 666 single-family home transactions last month, an 8.1 percent decline from a year ago. Inventory was flat with 2,388 home on the market compared to 2,403. New listings were down 2.9 percent to 1,255 from 1,292 last year.

Median sale prices rose 3.6 percent to $142,500 from $137,504 last March. Average prices were about even — $162,248 this year and $161,942 last year.

The…

Richard Raymond Albrecht, a former top Boeing executive and community leader, has listed his waterfront estate on Bainbridge Island for $4.4 million.

Albrecht had an illustrious decades long career with Boeing, including heading the company’s Everett division and becoming executive vice president and senior advisor for Boeing Commercial Airplane Group.

Albrecht, a lawyer, started his early professional life with Perkins Coie and then became partner of the prestigious law firm.

Albrecht was…

New York-based Blackstone Group has been gobbling up apartment complexes in metro Phoenix during the past few years.

Half the 130-unit project near San Jose's Diridon Station would be earmarked for extremely low-income units.

The company has begun testing the platform in the Bay Area as part of contract with Alamo-based RPM Mortgage.

Avery Brewing Co. is looking to grow this year.

The iconic Boulder brewery, which has won numerous awards, recently announced an expanded partnership with Spain’s Mahou San Miguel and the Spanish brewery’s other U.S. craft brewery partner, Michigan’s Founders Brewing Co. The deal gives Mahou-Founders a 70 percent stake in Avery.

Mahou in 2017 bought a 30 percent stake in Avery.

Financial terms of the new deal were not disclosed.

“This agreement strengthens the development of Mahou’s business in the United States, a market that is leading the craft revolution and which fits in perfectly with our capacity for innovation and passion for beer culture,” Alberto Rodríguez-Toquero, general manager of Mahou San Miguel, said in a news release.

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The city of Troy took another step this week in the latest effort to redevelop the One Monument Square site by issuing a call for developers interested in the project.

Specifically, the city released a “request for qualifications” — or RFQ — to kick off a process for vetting and coordinating with potential development partners.

“We’re excited to move forward with the development phase of our community-driven approach to shaping the Monument Square site,” mayor Patrick Madden said…

“I am not a developer. This is not just another project for me. This is a legacy project and it has to be really cool, it has to be really nice and it has to be first class,” said Born, a fixture on Lake Minnetonka.

Foxconn Technology Group bought a five-story office building on Capitol Square in Madison from BMO Harris Bank and intends to use it as another Wisconsin innovation center.

The building at 1 W. Main St. will support Foxconn’s partnership with the University of Wisconsin-Madison to research and develop new technology in the medical, material, computer and data science fields. It will include collaboration space for students, staff, faculty and researchers. Foxconn has announced similar plans for…

Two Memphis manufacturers are planning to expand and could potentially add a combined 76 jobs — if they both receive tax breaks from the Economic Development Growth Engine (EDGE) for Memphis & Shelby County.

J.M. Smucker Co., the parent company of JIF peanut butter and its namesake jelly brands, is planning an expansion of its existing Memphis facility at 4740 Burbank Road. The expansion would bring $8.9 million in capital investment — most of which is machinery — and the firm would add 25…