In the News—Week of December 20, 2021
Around the Nation
Boeing sells off headquarters for its commercial airplanes division
Boeing has sold off its commercial airplanes corporate headquarters building for a reported $100 million and has almost completed its disinvestment of Seattle-area real estate, The Seattle Times reports. Unico Properties, a subsidiary of a Seattle-based private equity real estate investment firm, bought the property. Boeing, which is headquartered in Chicago was founded in Seattle, has been trying sell off real estate in the area because of the pandemic-related downturn in aviation. Boeing bought the property in the 1990s. It was the site of the former Longacres horse racing track.
Energy & Environment
Company plans to put sails back on cargo ships to cut fuel, pollution
Airseas is developing a large kite to drag cargo ships across the ocean as a way for the shipping industry to save fuel and reduce emissions, Bloomberg Quint reports. Early in 2022, the 154-meter-longship Ville de Bordeaux will debut a 500-square-meter sail for tests in the Atlantic Ocean. Airseas estimates a sail twice as large would cut about 20% of the fuel and emissions. Airseas says its technology can be used on any ship in a few days.
Mixed-use project in Rosenberg will break ground next summer
Satya, a Houston-based commercial real estate consulting firm, announced a 37-acre mixed-use development with apartments, retail and restaurants in Rosenberg, Community Impact Newspapers reports. Work is expected to begin next summer on the project and be finished by the end of 2023. Among the tenants signed up for development at the corner of Hwy 36 and Hwy 59 are Harbor Freight, Whataburger, Autozone and Arby’s. A four-story complex will offer 312 apartments.
Three downtown Dallas towers are about to see major changes
The 49-story Energy Plaza on Bryan Street is scheduled for a renovation with plans to convert empty office space into apartments. The 50-story Trammell Crow Center had a $135 million makeover and is up for sale. And the 55-story Chase Tower is losing two original tenants, Chase Bank and the Petroleum Club. They are moving to Hunt Consolidated’s headquarters building at Akard Street and Woodall Rodgers.
Aging Phoenix shopping mall slated for $750 million renovation
Metrocenter, once the Phoenix area’s leading shopping mall, is about to get a $750 million makeover, AZ Big Media reports. Concord Wilshire Capital and TLG Investment Partners announced they have contracted to acquire the center and plan to redevelop it into a residential and mixed-use community. Hines has been enlisted for the project, which includes 2,600 multifamily units. The city is investing $150 million to build a light rail station at Metrocenter. An extension is supposed to be finished by 2024. “This is an enormous economic boost to the entire west side of Phoenix,” Mayor Kate Gallego says. “The connectivity provided by the light rail extension means easy access to shopping, entertainment, housing and — perhaps most importantly — to jobs.”
Tulum hoteliers want discussions with government over route of Maya Train
The Tulum Hotels Association wants to talk more with the government tourism authority about the path of Mayan Train, El Economista reports via Mexico Business News. The hotels are worried the train route will block entrances to hotels and other businesses. The hoteliers don’t want the train to go down the middle of the road, as the current plan calls for, but to the side.