In the News—Week of September 27 2021
Around the Nation
Marijuana industry stirs up real estate activity in Nutmeg State
Recreational marijuana is now legal in Connecticut and, as has happened elsewhere, it has affected the commercial real estate market, Hartford Business Journal reports. State officials are coming up with licensing and regulatory requirements for the industry. Meanwhile, companies are trying to get properties under contract now for future business operations. “They’re trying to tie up properties as much as they can,” says Nicholas Morizio, president of real estate brokerage at Colliers International’s Hartford and New Haven offices. “A lot of these are national companies from states like Colorado and Massachusetts.”
Energy & Environment
Energy Star updating methods for scoring efficiency of data centers
The Environmental Protection Agency has updated how it scores data centers for Energy Star certification, GCN.com reports. The changes are designed to spur a more energy efficient data center. Between 2010 and 2018, data center computing capacity surged by 500%. Energy use in that span rose just 6%. Data centers still consume more energy than other buildings of the same size, as much as 50 times more per square foot, the EPA estimates.
Work underway for $2.5 billion project east of downtown Houston
Midway held a ground breaking ceremony for a $2.5-billion development east of downtown Houston, the Houston Chronicle reports. Known as East River, the 150-acre mixed use project has landed two office tenants, Method Architecture and TEAL, a company involved in hot water systems for apartments. East River will include 1 million square feet of construction and will include apartments, restaurants, retail and medical and entertainment buildings.
Office furniture sales company consolidates offices, signs major lease
Total Office Solutions signed a 329,358-square-foot lease for a new headquarters at Stadium Logistics Center in Irving, D Magazine reports. The company is consolidating from multiple sites in the Dallas-Fort Worth metroplex. Total Office Solutions sells office furniture and offers moving service for businesses. The new location will include a furniture showroom that the company says is the largest in the Southwest.
Tempe attempting to find developer for Hayden flour mill site
Tempe wants a developer who can turn a 5-acre site into mix-used project while preserving the historic Hayden Flour Mill, the Phoenix Business Journal reports. The mill was built in 1918 and its silos in 1951 by the Hayden family. Tempe was originally known as Hayden’s Ferry. The property is at Mill Avenue and Rio Salado Parkway near Tempe Town Lake. The city has tried unsuccessfully in the past to redevelop the site.
Second viaduct project planned for Toluca rail link
The Mexican government is preparing a second viaduct project for the Mexico City-Toluca interurban rail link, Bnamericas reports. The project includes building a 192-meter double cantilever bridge. The viaduct is expected to be built this year. Major construction companies are expected to get most of the work because the project is so complex, Saúl Gorostiola, a railway regulation consultant, says.