Tag Archives: downtown

AT&T Global HQ Structure, Lease in Downtown Dallas Being Pitched to Investors

Telecom Giant’s Longterm Lease, BBB+ S&P Credit Rating Could Help Draw International Investor Interest

AT&T could quickly have a new landlord at the company’s global headquarters tower in downtown Dallas, with CBRE brokers expected to put the telecom giant’s 37-story, 965,800-square-foot tower– and, more importantly, a long-lasting lease by an extremely rated credit renter– on the marketplace in the future.

AT&T’s lease, which runs through August 2030, was structured as a sale-leaseback handle an affiliate of New York-based Icahn Enterprises LP, led by Wall Street investor and billionaire Carl Icahn.

IEP Dallas Inc., the affiliated ownership entity, has hired a team of CBRE brokers to start marketing the workplace tower, called One AT&T Plaza, at 208 S. Akard St., and the long-term lease with AT&T. Although the office tower, likewise called Whitacre Tower, last cost $60.1 million in 2008, regional realty brokers state the long-lasting lease is the most valuable part of this deal, worth approximately $278 million.

North Texas has actually seen several big sale-leaseback handle current years, including State Farm Insurance’s $825 million sale-leaseback of its local hub in Richardson, and the $344 million sale of Verizon’s school in Irving to Chicago-based Mesirow Financial.

J.C. Penney Company Inc. also seized the day to substantially diminish its business footprint in a sale-leaseback offer to Dallas designer Sam Ware, who has actually been redeveloping the home into a multi-tenant campus.

Property sources state this offer would likely be comparable with the creditworthiness of AT&T bring in worldwide and domestic financier interest from institutional financiers and high net worth individuals. According to S&P Global Ratings, the telecom giant was given a grade of BBB+. Fitch Rankings has AT&T clocking a credit score of A-.

The 35-year-old office tower, initially developed for Southwestern Bell, works as a crucial part of AT&T’s downtown Dallas school, and is currently undergoing a $100 million redevelopment to produce an “urban-tech” school designed to attract young specialists and customers alike. As part of the project, the two million-square-foot, multi-building school is likewise being relabelled Discovery District.

Upon completion, Discovery District will have room to house approximately 7,000 staff members, using outside areas for event and Wi-Fi gain access to throughout the campus. The current construction timeline of the job was not right away readily available Thursday.

AT&T’s long-term lease has contractual escalations of 2 percent yearly. As of October 2018, the lease, which was just recently renewed, has estimated profits of $278 million remaining over the regard to the offer.

AT&T and CBRE were not immediately offered to comment Thursday.

Files expose details for planned downtown Las Vegas gambling establishment

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Steve Marcus A worker runs an excavator at the website of the former Las Vegas Club casino on Main Street between Ogden Avenue and Fremont Street in downtown Las Vegas Thursday, Feb. 22, 2018.

Wednesday, Might 2, 2018|12:07 p.m.

. An organized downtown Las Vegas gambling establishment will include a 459-foot-tall, 777-room hotel tower and 117,740 square feet of video gaming area where the Las Vegas Club when based on Fremont Street, according to files submitted with the city.

Derek Stevens, owner of The D gambling establishment downtown, is noted as owner and president of the 18 Fremont task, a referral to the residential or commercial property address.

According to files filed with the Las Vegas Preparation Commission, the home will have a 1,526-space parking garage across Main Street that will be connected to the casino via a sky bridge. Other facilities listed include a roof lounge, a sports book, a ballroom with conference area, a number of food and drink outlets, a swimming pool and medical spa.

The commission is scheduled to evaluate the advancement strategy and ask for five special-use allows on Tuesday prior to the plan precedes the Las Vegas City Board on June 20. The height of the prepared hotel tower also will require approval from the Federal Aviation Administration.

The old Las Vegas Club, the Mermaids gambling establishment and the Ladies of Shine Gulch strip club were taken down in 2015 to make space for the brand-new project.

Hines Closes on 27-Story First Tower High-Rise in Downtown Calgary

Houston Company Strategies Major Redevelopment for First Tower in Oilpatch, in Face of Half-Full Structure and Rising Office Job Rate

Calgary’s hard luck office market isn’t scaring off an international realty company, which stated Wednesday it obtained the 27-storey Very first Tower despite the fact that it is only 51 percent rented.

Houston-based Hines, in addition to a subsidiary of real estate funds managed by Oaktree Capital Management out of Los Angeles, purchased the 708,354-square-foot high-rise in the downtown east submarket of Calgary, and is planning a major redevelopment at the structure home to Encana, Telus and TransCanada.

A report this week from CoStar Research kept in mind the overall office market vacancy rate in Calgary fell 30 basis points in first quarter of 2018 from completion of 2017, but is still up 70 basis points year over to 15.3 percent. That rate is anticipated to climb in 2018 with the delivery of Telus Sky, a 761,235-square-foot, mixed-use tower presently under construction at 7 Ave. SW and Centre St. in Calgary’s main core, in 2018. The downtown job rate is more than 21 percent.

Increases in the vacancy rate from a year ago are being driven by new supply and that lots of tenants that pre-leased area are now putting the area they no longer require on the sublet market, according to CoStar Research study. Net asking rental rates fell 1.1 percent in the first quarter from the end of 2017 and 2.2 percent from a year ago to $16.92 per square foot.

In the face of those numbers, Hines and partner Oaktree are pushing ahead with a significant upgrade to the home at 411 1st St., part of the +15- connected office complex network that connects the city’s core through confined pathways. The group is guaranteeing a “extensive redevelopment” of the 34,000-square-foot +15- level – something it feels will drive renters to the structure.

No price was divulged on the deal or just how much will be spent on redevelopment.

” As a company, our company believe in, and are committed to, the city of Calgary with First Tower being Hines’ 2nd workplace acquisition during the recent energy recession,” stated Syl Apps, Hines handling director, in a declaration.

New area being updated will consist of a tenant lounge/collaboration location; a café and food service location with the possibility for a differentiated food hall concept; an outside balcony; a physical fitness and health centre and a modern, versatile conference facility.

For more information on the transaction, please see CoStar Compensation # 4208236.

Garry Marr, Toronto Market Reporter CoStar Group.

Honky tonk hair stylist thrilled to assist '' decide the direction' ' of downtown Las Vegas

[unable to obtain full-text material] Hair salon owner Larry Reha opens up about the winding road he took to owning a successful business, talks about what sets Makeshift Union apart and describes why he is never angered when a client doesn’t tip.

Downtown’s Excellent Vegas Festival of Beer raises a glass to the neighborhood

With 100-plus breweries and more than 500 craft developments ready for sampling, this weekend’s eighth-annual event definitely sounds terrific. But its size and scope are not why it’s called the Great Vegas Festival of Beer.

“Something we have actually truly focused on from in 2015 to this one is partnering with more business that allow us to construct the experience and making it all come together in unity,” says Brian Chapin of producer Motley Brews. “You know there will be awesome beer cocktails, cool infusions and beer with food, but likewise an opportunity to comprehend the energy and personality and passion of all the people behind it. We desire the festival to bleed into the neighborhood, due to the fact that it’s whatever great about Vegas, all these cool things happening at the local level.”

The festival has actually constantly linked its audience with regional culinary offerings, and this year’s fest will include Esther’s Kitchen, the Black Sheep and Searsucker at the 2nd Mad Craft Experience on Friday night, and more dining establishments and food trucks like Remedy, Sin City Wings and Oming’s Kitchen at Saturday’s Grand Tasting.

Among the collaborations: the return of the Zappos.com Pretzel Brewtique, where you can personalize your very own pretzel pendant to stylishly assist your sipping of the suds, and a Brooklyn Bowl-sponsored silent disco. On the beer front, anticipate surprises as well as more in your area crafted creations. Chapin states Joseph James is bringing 25 different beers to the Grand Tasting, including a series of bourbon barrel-aged royal stouts and the Dead Fox tequila barrel-aged agave ale.

FANTASTIC VEGAS FESTIVAL OF BEER April 6, 7 p.m.; April 7; 2 p.m.; $45-$100. World Market Center Pavilion, greatvegasbeer.com.

Woman struck and killed near Downtown Las Vegas Strip

A woman was struck in killed by a vehicle March 31, 2018 (NHP).
 A woman was struck in killed by a car March 31, 2018 (NHP).

A woman was struck in eliminated by an automobile March 31, 2018

( NHP). LAS VEGAS( FOX5) – A lady was struck and killed by a car Saturday night near the Downtown Las Vegas Strip. Nevada Highway Patrol cannon fodders responded to the crash on eastbound Sahara Opportunity near Industrial Road at 7:44 p.m. On arrival, troopers situated the departed female in the roadway, according to authorities.

Investigators said the woman was most likely not in a crosswalk when she was struck. The occurrence stays under examination.

The Clark County Coroner’s workplace will release the identity of the female once her family is notified.

Copyright 2018 KVVU( KVVU Broadcasting Corporation). All rights booked.

Overnight shooting hurts 2 ladies in downtown Las Vegas

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” border=” 0″ src=” /wp-content/uploads/2018/03/16341008_G.jpg” width =” 180″/ > FOX5 generic. LAS VEGAS( FOX5)- Las Vegas Metro authorities were examining a shooting that hurt 2 females early Sunday morning near the Fremont Street Experience in downtown.

Officers responded to reports of shots fired in a location near 7th and Fremont streets at 2:53 a.m. Inning accordance with the investigation, an argument between party-goers broke out and turned violent when the suspects opened fire.

2 ladies were carried to a neighboring healthcare facility with non-life threatening injuries. Police did not disclose additional information about the suspects associated with the shooting.

Anybody with details about this incident is prompted to call the LVMPD at 702-828-3111.

Copyright 2018 KVVU ( KVVU Broadcasting Corporation). All rights booked.

Sports centers help stimulate ‘sense of neighborhood’ in Downtown Summerlin

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Steve Marcus A Ballgirl takes part in a groundbreaking event for Las Vegas Ballpark, a 10,000-fan capability baseball arena and future house of the Las Vegas 51s, in Summerlin Friday, Feb. 23, 2018. By )

Sunday, March 18, 2018|2 a.m.

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Las Vegas-based restaurateur Elizabeth Blau has actually been primarily out of town for months now, introducing a multitude of food and drink outlets as part of the enormous global home entertainment location Parq Vancouver, which houses a hotel and gambling establishment right beside BC Place Stadium in British Columbia, Canada.

Blau, her hubby and organisation partner, Kim Canteenwalla, and their 13-year-old boy Cole are a sports-loving household, so it’s been hard for Blau to miss out on the phenomenon of Las Vegas’ first-year NHL team, the Golden Knights. She did capture a roadway game when the Knights played the Canucks in Vancouver.

“I can tell from my social media exploding that they’ve taken control of the city with their energy and spirit,” she states. “I was house in Las Vegas on a current Friday night and it was one of the quietest nights I can remember, due to the fact that everybody was either at the hockey game or someplace viewing it.”

Blau has an unique distance to the regional sports boom. Her dining establishment Andiron Steak & & Sea is among the most popular dining destinations at Downtown Summerlin, also the place of the Golden Knights’ practice center and head office, City National Arena. Her family lives in the location, too.

After the Feb. 23 groundbreaking for the 10,000-seat Las Vegas Ballpark hosted by the Howard Hughes Corp. and Las Vegas Convention and Visitors Authority, Downtown Summerlin is also about to be the house of the Las Vegas 51s, the city’s Pacific Coast League professional baseball group and Triple-A affiliate of the New York Mets.

“I believe baseball is sort of the icing on the cake,” says Blau, who likewise missed out on the groundbreaking while in Canada. “It’s another demand-generator for people to come to Downtown Summerlin. We have actually been substantial fans of exactly what the Howard Hughes Corp. has actually done here and we understand they have actually had this master plan from the starting to create this sense of neighborhood. Coming from the East Coast, this is something I have actually missed in Las Vegas, and it’s really good to have it.”

Most residents probably hear the words “Downtown Summerlin” and think of the master-planned neighborhood’s centrally situated outdoor mall that fits between Red Rock Resort on West Charleston Boulevard and Sahara Avenue to the south. With its many stores and dining establishments, cinema and family-friendly programming, the shopping center is thriving.

Las Vegas Ballpark Groundbreaking Launch slideshow”However it’s simply a part of Downtown Summerlin,

an almost 400-acre plot that likewise extends from the Beltway in the west to Town Center Drive in the east and opened in 2014. The urban-style development likewise consists of Red Rock Resort, the Life time Fitness center and City National Bank building, the new Constellation high-end apartment building and another office complex presently under construction. More than 4,000 attached houses– houses, apartments, lofts and brownstones with no conventional rural single-family homes– are prepared to complete the high-density neighborhood.” I think it will be quite obvious when those additional domestic tasks come around, specifically one at the corner of Sahara and Structure Center Drive, that of an unexpected, with the ballpark and arena for hockey and brand-new office complex, that this location is handling a life of its own,” states Kevin Orrock, president of Summerlin.”It’s constantly had to do with developing that live-work-play environment. Our goal is to develop a high-density, high-energy urban center, and we’re well on our method to doing that.”When you consider a real downtown area, there are certain aspects that pertain to

mind. Sports is among those components. The appearance of hockey and baseball in Downtown Summerlin appears abrupt although it wasn’t, not unlike Las Vegas’higher expert sports surge that consists of the Golden Knights, the NFL’s Raiders, the WNBA’s Aces and the United Soccer League’s Lights FC.”If Twenty Years ago somebody would have informed me we ‘d have baseball in the middle of Summerlin, I would have thought

,’How’s that going to occur?'”Orrock says.” But then all of a sudden the Howard Hughes Corp. owns the baseball team. There had been discussions for quite a long time, it was simply a matter of getting all the stars to line up.”City National Arena has actually become another popular family destination at Downtown Summerlin– like the Regal High-end

theater or the Dave & Buster’s game and dining establishment– with youth and adult hockey leagues and other skating activities. Las Vegas 51s games will be another cost effective family activity just a couple of steps away.” Hockey in Las Vegas has actually been special due to the fact that the Vegas Golden Knights have actually done an amazing job of ingratiating themselves into the fabric of the community,”Orrock states.”I believe we’ll see the same thing with baseball and even the Raiders. Sports have the tendency to drive further development, and the ballpark will accelerate that.” There was already a variety of dining establishments inside Red Rock Resort (and movie theaters, too )prior to that first retail-oriented phase of Downtown Summerlin opened. However business at the casino is much better than ever as the resort and the shopping center produce some synergy.”We were already fans of living in Summerlin because opening Red Rock Resort’s doors in 2006, but it’s simply improving every year,”says Lori Nelson, vice president of corporate communications for Station Casinos.

“While Red Rock Resort offers a complete variety of entertainment and dining offerings, we are similarly enjoyed offer our hotel guests extra, not to point out walkable, features such as shopping at Downtown Summerlin, City National Arena and soon a first-rate baseball stadium. “Nelson says the advantages of Downtown Summerlin’s expansion extend beyond the hotel guest base. New venues are likewise enjoyed by team members from Red Rock Resort and Station Gambling establishments’ nearby business workplace. Initial advancements at Downtown Summerlin have actually drawn in locals from all over the Las Vegas Valley, not simply neighbors, and the sports centers mark the conclusion of developing that type of amazing destination. The future is focused more on offering services and a particular way of life for those who wish to live at Downtown Summerlin or near the metropolitan center.”We are starting to draw other types of commercial operations,” Orrock states.”We are under building at Hualapai and Flamingo on a large build-to-suit complex for Aristocrat Technologies, and we’re delighted to see them entering Summerlin.”In the next a number of years, we have a lot going on, more job-creating projects that will ultimately assist develop that environment so individuals can live near to where they work. That’s everyone’s goal at this moment.”

Bajamar does tacos in a different method Downtown

Adorned with octopi and surfboards, Bajamar Seafood and Tacos seems more suited to a SoCal beach than Downtown Las Vegas. But here it is, sharing a parking lot with Olympic Garden and Luv-it Custard. And Downtowners must be appreciative for it.

Bajamar (Spanish for “low tide”) is a bastion of all things seafood; the only meat on the menu is the carne asada, which comes as part of a wonderful surf-and-turf offering piled atop French french fries. If you remain in the mood for normal Mexican fare like carnitas, pastor or cabeza, you’ll have to make your method to Tacos El Gordo. But for all you pescatarians, look no further than Bajamar.

Tacos comprise a big swath of the menu, and all are seafood-based. Pulpo enchilado tacos ($4 each) layer inexplicably tender grilled octopus with Monterey cheese and chile de arbol in a remarkable, scrumptious mess. Make sure not to wear your finest whites to Bajamar, as overspray is a badge of honor.

A more traditional selection is the gobernador taco ($4), swaddling sautéed shrimp and bell peppers in cheese. The Lucas taco ($5) is essentially the unholy union of a chile relleno and a taco, plus grilled shrimp, while the marlin taco a las bresas ($4) exudes tips of smokiness. The Bajamar fish tacos– only $2.50 on Mondays and Tuesdays– use lightly breaded tilapia.

Beyond tacos, the menu includes a collection of ceviches, cocktails and tostadas, all of them seafood-centric. Particularly memorable is the fish chicharron ($8)– noted on the menu as “battered spicy fish chunks.” The fish itself isn’t spicy, however the accompanying chipotle cream sauce delivers hints of heat. Pro suggestion: Ask for the more potent lime juice-laced chile mix the kitchen makes to order. You’re welcome.

Bajamar Seafood and Tacos 1615 Las Vegas Blvd. S., 702-331-4266. Monday-Saturday, 11 a.m.-9 p.m.

Downtown taxi carjacker jailed in North Las Vegas after jumping on back of semi

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” 0″ src=” /wp-content/uploads/2018/03/16290394_G.jpg “width=” 180″/ > (LVACS). LAS VEGAS( FOX5)-. A wild series of events on Saturday night resulted in a guy’s arrest near the Las Vegas Motor Speedway.

Las Vegas City police reacted about 8:15 p.m. to a taxicab carjacking at Las Vegas Boulevard and Carson Opportunity, near Fremont Street, Lt. Jeff Goodwin of Metro cops stated. The suspect caused a minimum of 3 accidents in the downtown location.

Nevada Highway Patrol situated the suspect near Craig Road and Las Vegas Boulevard.

The suspect drove the taxi northbound on I-15 and deserted the vehicle in the left travel lane of the highway near Craig Road, according to Cannon fodder Jason Buratczuk.

The suspect was running in traffic and aiming to carjack other lorries unsuccessfully, but ultimately fled the location on foot, Buratczuk said.

While traffic was stopped, the suspect got on the back of a semi-trailer, North Las Vegas Cops PIO Eric Leavitt stated. The suspect ended up at the Petro truck station near the Las Vegas Speedway where clerks called authorities on a man causing issues. North Las Vegas cops apprehended the suspect without occurrence and he was transferred into Metro’s custody.

Leavitt said the suspect was possibly under the impact and was unarmed.

No other information about the suspect was readily available.

This was the 3rd reported carjacking occurrence in the past 24 hours. A UNLV student was hurt in a carjacking near school just before noon, while police said another carjacker took a USPS car and later on deserted it.

Copyright 2018 KVVU (KVVU Broadcasting Corporation). All rights reserved.