Real Estate Blog

Best Buy Co. Inc. is adding another of its small-scale delivery hubs, this one at an industrial park recently built in Durham, N.C.

The consumer-electronics company plans to use the 57,000-square-foot space as a distribution center, allowing for more efficient delivery of large appliances and televisions throughout the region, according to the company.

The new lease inked at Liberty Ridge comes as Best Buy looks to ramp up its online sales and move its distribution infrastructure closer to population…

Baltimore officials are seeking a tax increment financing package totaling $102.3 million to help pay for a nearly $900 million redevelopment of a blighted area between Harbor East and Johns Hopkins Hospital.

The TIF would pay for some of the redevelopment of Perkins Homes, a public housing complex, the former Somerset Homes site, a new City Springs Elementary and Middle School, two new public parks, infrastructure and a network of roads and sidewalks in the community.

The massive redevelopment…

Completed in 1998 and renovated in 2017, the six-story building is 94 percent leased.

The City Council is set to vote Monday at a project that was presented at NAIOP on Monday.

Mark Trudeau, president and CEO of Mallinckrodt, and his wife, Susan, have sold their Chesterfield home.

The five-bedroom, five-bathroom home, which is located on a 4.94-acre lakefront lot, sold for $1.08 million. George and Melanie Rees purchased the home. The deal closed in February.

The 4,934-square-foot home is located in a gated community. The property includes a dock, pool, hot tub and multiple decks. The home’s finished basement has a recreation room, wine cellar and wet bar.

In…

A Big Island judge granted a foreclosure order stemming from a lawsuit filed by Prospect Co. Ltd., a Japanese company based in Honolulu, after Stanford Carr Development and SCD ML II, the entity formed for the Kulalani at Mauna Lani project, defaulted on the loans that totaled more than $10.9 million, including interest and fees, at the time the lawsuit was filed.

The move comes as construction costs have made condo development more challenging.

Wells Fargo said it’s moving almost 100 jobs in its commercial treasury business out of San Francisco, where rising housing costs and growing traffic congestion has nearly half of Bay Area residents looking to leave.

Wells was quick to say Monday that the relocation of 91 jobs out of San Francisco, and the elimination of five more in the city, was driven by the need to have employees in that part of the bank work in closer proximity to each other.

But moving jobs out of San Francisco, even this…

The process to add about 590 acres to the north side of Sacramento is nearing completion.

Local investment company REEP Equity has bought two 1980s-era apartment complexes near the Medical Center.

The properties, 4000 Horizon Hill and Northgate Village, were bought for an undisclosed amount and were last evaluated at $17.8 million and $17.3 million, respectively, according to the Bexar County Appraisal District. They were previously owned by Nilayam Jaya Lakshmi LP and Pallavi Limited Partnership, which share the same Houston address.

REEP Equity received a loan for both properties…