Business Specialties Development
Cormac Nets $145M Loan for Kansas Retail Project
Nov 5, 2008
By: Scott Baltic, Contributing Editor

The Chicago office of Holliday Fenoglio Fowler L.P. has arranged a total of $145.3 million in construction financing and joint venture equity for Corbin Park, a regional, open-air retail village being developed in Overland Park, Kan., by Cormac Co.

The co-lead providers of the funding were Bank of America and US Bank. INVESCO Real Estate provided joint venture equity on behalf of an unnamed institutional client. Under construction on a 96-acre site at the southeast corner of 135th St. and Metcalf Ave. near State Route 69 in Overland Park, the 1.1 million-square-foot Corbin Park will be anchored by Von Maur, JCPenney, Lifetime Fitness and NYLO Hotels. Other tenants will include Sports Authority, Barnes & Noble, Village Roadshow Theaters, Off Broadway and Old Navy. The center is scheduled for completion between late 2009 and early 2010.

Corbin Park is the largest current retail development project for Cormac Co., which was founded in 2000. Although the company has more than 2.5 million square feet of shopping centers under development, it is also active in single-family and multi-family development.

 
Recent Development Headlines
don and bryan As Phoenix Light Rail Debuts, Will T.O.D. Get on Track?
Jan. 05, 2009
Phoenix's $1.4 billion, 20-mile light rail system carried its first passengers on Dec. 27th, and real estate professionals believe that development opportunities around the line’s 20 stations are significant; Valley Metro, which operates the system, projects the system will initially carry 26,000 passengers a day.
brooklyn bridge $48M First Phase of Brooklyn Bridge Park Project Breaks Ground
Dec. 31, 2008
Reusing and revitalizing Brooklyn’s deteriorated East River waterfront began with a groundbreaking in February on the piers area and now a $48 million contract was awarded to Skanska for Phase I of the Brooklyn Bridge Park project in New York City.
International Groups to Tackle Affordable Housing as Global Real Estate Challenge
Dec. 29, 2008
On a global level, there are no geographical boundaries when it comes to affordable housing shortages. And with that topic in mind the United Nations Economic Commission for Europe recently held a seminar in New York City along with its Real Estate Market Advisory Group and the International Real Estate Federation to address the affordable housing issue and the role it can play in rebuilding the real estate market.
Port of Houston Planning $283M in Projects
Dec. 29, 2008
With more than $283 million in construction planned, the Port Commission of the Port of Houston Authority is working to assure Houston’s emergence as the nation’s busiest port is met with cutting edge facilities.
DougMcCoach 'Edge Cities' Set to Move to Forefront
Dec. 24, 2008
At first glance, it may appear that the country’s largest cities will reap the biggest benefits under President-elect Barack Obama’s planned infrastructure initiatives, partially due to his connections to metropolitan areas like Chicago. But according to urban planner Douglas McCoach, vice president of planning and urban design for global design firm RTKL Associates Inc., perimeter suburban and exurban areas surrounding large U.S. cities--locations he describes as "edge cities"--may gain the most from new infrastructure funding.
 
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?CPN Executive Outlook? A roundtable discussion on market strategies with John C. Cushman III, Chairman of Cushman & Wakefield, Inc., Gordon DuGan, President and CEO of W. P. Carey & Co., and Mark Rauenhorst, Chairman and CEO of Opus Group.; CPN; Cushman & Wakefield; Gordon DuGan; John C. Cushman III; Mark Rauenhorst; Opus Group; W. P. Carey & Co.; Eugene Gilligan, Senior Editor for Commercial Property News interviews Bob Bach, National Director, Market Analysis Grubb & Ellis Company at Multi Housing World.; Bob Bach; Commercial Property News; Eugene Gilligan; MHN; Multi housing news; multi housing world; hompage
 

SL Green Aims to Raise $95M with Sharp Dividend Cut
December 30, 2008
By Michael Fickes, Contributing Correspondent-- SL Green Realty Corp. has slashed a planned dividend payment in efforts to pay down debt and conserve funds for future investments. The company set the new dividend payment at $0.375 per common share for...

Freddie Mac's New Chief Credit Officer Brings Strong Credentials to Tough Task
December 30, 2008
By Scott Baltic, Contributing Editor-- Freddie Mac today named Raymond G. Romano chief credit officer. Romano had been the company's senior vice president of credit risk oversight since joining Freddie Mac in 2004 and in September also took the position...

Midwest Industry Hit by Recession
December 30, 2008
By Dees Stribling, Contributing Editor-- Various international tempests and other factors, such as uncertainty over the price of oil, seemed to drive the markets down Monday, but only slightly. The Dow Jones index ended 31.62 points down, or 0.37 percent,...

Sperry Van Ness Gets New President
December 30, 2008
By Barbra Murray, Contributing Editor -- Sperry Van Ness International will kick off the new year with a new president, now that the real estate brokerage firm's board of directors has voted unanimously to push COO Kevin Maggiacomo up the...

Office Market Positioned to Survive a Bruising Recession
December 29, 2008
By Michael Fickes, Contributing Correspondent-- As a deep recession looms around the world, there is a country where a conservative investment community has resisted speculative office construction, enabling vacancy rates to fall to historically low levels and rents to continue...

Management Matters with Mike Myatt: The Next Domino to Fall
December 04, 2008
By: Mike Myatt, Chief Strategy Officer, N2growth --The next domino in the economic downturn is already starting to fall. The more layers of the onion we peel back on the chaos in the capital markets, the worse the news seems...

Management Matters with Mike Myatt; Web 3.0
November 20, 2008
By: Mike Myatt, Chief Strategy Officer, N2growth --As quickly as Web 2.0 arrived, it is being overcome by the next generation of digital applications and toolsets. Moreover, the need for broader understanding as to how to implement a more sophisticated...

Management Matters with Mike Myatt: Teach Them to Fish
November 14, 2008
By: Mike Myatt, Chief Strategy Officer, N2growth --Do you feed your employees, or do you teach them how to fish? Do you like to swoop in and save the day? Do you see yourself as the white knight that can...

Management Matters with Mike Myatt: Good Employees Are Not Expendable
November 07, 2008
By: Mike Myatt, Chief Strategy Officer, N2growth --Good employees are not expendable. As a CEO running a company during tough economic times, if your strategy to survive the economic downturn is to implement a slash and burn approach to cost...

Management Matters with Mike Myatt: Surviving the Economic Downturn
October 17, 2008
By: Mike Myatt, Chief Strategy Officer, N2growth --As odd as it may sound, if you want to survive the economic downturn, increase your marketing expenditures. If you're the short-sighted CEO who cuts back on marketing, branding, and advertising budgets in...