RECON (Real Estate Center Online News)
Builder Selected for Corpus Christi's New Harbor Bridge
CORPUS CHRISTI (TxDOT) – The Texas Transportation Commission yesterday selected Flatiron/Dragados JV to design, build and maintain the new Harbor Bridge. At 1,655 ft., it will be the longest main span cable-stayed bridge in the United States and the third longest in the world.

23 More Prop 1 Transportation Projects Approved
AUSTIN (TxDOT) – The Texas Transportation Commission yesterday approved 23 more projects (out of 200 planned projects) encompassing nearly $168 million worth of roadway construction, rehabilitation and restoration funded by Proposition 1.

Texas Housing Market Starts 2015 Strong, but Inventory at All-Time Low
AUSTIN (Texas Association of Realtors) – Texas housing demand remained strong in first quarter 2015, with home sales posting unseasonal gains and housing inventory falling to an all-time low, according to the 2015-Q1 Texas Quarterly Housing Report released today by the Texas Association of Realtors (TAR).

West Lubbock Shopping Center Expanding by 100,000 SF
LUBBOCK (Lubbock Avalanche-Journal) – GRACO Real Estate Development Inc. has begun work on phase two of its West End Shopping Center near 34th St. and West Loop 289. The second phase will add 100,000 sf to the project.

Land Conference Presentations Online
COLLEGE STATION (Real Estate Center) – While it's not quite the same as attending our Annual Land Markets Conference in person, several PowerPoint presentations from last week's conference are now online.

National Commercial Real Estate News From CoStar Group
Office Lease Up (May 4) Nike Takes Google’s Lease Buyout Offer
Oregon-based athletic wear kingpin Nike has signed an 11-year lease to take 147,000 square feet in a new mixed-use development being built by The Durst Organization at 855 Sixth Ave. in New York City. Nike plans to will move its New York headquarters from Midtown South to the Penn Station-area building once construction is completed in early 2016. The 42-story tower will total 570,000 square feet office, retail and residential components. Nike...

Bob Evans Closing 20 Restaurants
Bob Evans Farms Inc. said it plans to close 20 of its restaurants after completing performance review of its retail portfolio. The chain said it plans to close the stores over the next 12 months, with the majority of locations to close by the end of May 2015. Specific locations targetd for closure were not disclosed. Approximately 780 restaurant workers will be impacted by these closures. The company said that it owns 16 of the 20 affected...

CoStar's People of Note (Apr. 26 - May 2)
It's time to update those contact managers with CoStar's People of Note, reporting news on significant new CRE hires and promotions. This week's issue includes the following markets: New York City, Orange County, Atlanta, Los Angeles, Philadelphia, Chicago, San Antonio, Washington DC, St. Louis, Houston, Long Island, Phoenix, Las Vegas, and San Francisco. NEW YORK CITY Dickson Joins Brixmor Property Group By Ashley Grebow
Shorenstein Returns to Philadelphia with $184.8M Acquisition of 1818 Market Street
Shorenstein Properties LLC has closed on its acquisition of the 1818 Beneficial Bank Place office building at 1818 Market St. in Philadelphia, PA. Sovereign Capital Management sold the asset for $184.75 million, or about $188 per square foot, according to public records. Sovereign's sale of the asset closed in two deeds, the first involving a consolidated fee-simple interest of one parcel and the building and a leasehold interest in the other...

Shorenstein Takes Control of 1407 Broadway for $330M
Kamber Management and The Lightstone Group have sold their respective leasehold and sub-leasehold interests in the office building at 1407 Broadway in New York City for $330 million, or $300 per square foot, to Shorenstein Properties LLC. Lightstone acquired the asset in January 2007 from Gettinger Associates LP for $122 million, according to CoStar data.See CoStar COMPS #1235420. The 42-story, 1.1 million-square-foot, 4-Star office tower was...

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