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Developers Seek Public Funds for $300 Million Albany Soccer Stadium Project

Developers Seek Public Funds for $300 Million Albany Soccer Stadium Project

by Phil Hall | May 14, 2024 | Commercial Real Estate News, Current News & Events, Real Estate News, WRE News Exclusive

The developers of an initiative to bring an 8,000-seat soccer stadium to the New York State capital city of Albany are seeking public funding to finance their $300 million project. According to combined media reports, Ed and Lisa Mitzen, the founders of Business for...
Red Lobster Shutting Down 48 US Restaurants

Red Lobster Shutting Down 48 US Restaurants

by Phil Hall | May 14, 2024 | Commercial Real Estate News, Current News & Events, Real Estate News, WRE News Exclusive

The financially ailing Red Lobster restaurant chain is closing 48 of its 650 U.S. locations. Reports surfaced last month that Red Lobster was considering a Chapter 11 bankruptcy filing, but to date the company has not pursued this strategy. Thai Union Group acquired...
Fashion Brand Ted Baker Closes U.S. and Canadian Stores

Fashion Brand Ted Baker Closes U.S. and Canadian Stores

by Phil Hall | May 13, 2024 | Commercial Real Estate News, Current News & Events, International Real Estate News, Real Estate News, WRE News Exclusive

Toronto-based Ted Baker Canada, which conducts business operations for Ted Baker Ltd. in the U.S. and the Ted Baker, Brooks Brothers and Lucky Brand stores in Canada, announced the closing of its retail operations. The closures impact 31 U.S. and nine Canadian stores...
Fort Worth’s Tallest Building Sells in Foreclosure Auction for $12.3 Million

Fort Worth’s Tallest Building Sells in Foreclosure Auction for $12.3 Million

by Phil Hall | May 13, 2024 | Commercial Real Estate News, Current News & Events, Real Estate News, WRE News Exclusive

The 40-story Burnett Plaza, the tallest building in Fort Worth, was sold in a foreclosure auction for $12.3 million. The Dallas Business Journal reported the 1 million-square-foot office building was purchased at about $12 per square foot, which was less than 1% of...
Developer Cancels Plans for Connecticut Biotech Park

Developer Cancels Plans for Connecticut Biotech Park

by Phil Hall | May 10, 2024 | Commercial Real Estate News, Current News & Events, Real Estate News, WRE News Exclusive

The plans for a sprawling biotech park in Connecticut that were unveiled in April 2023 have been quietly canceled. Ryan Companies, a Minnesota-based developer, proposed the creation of 120-acre HealthTech Park on former farmland located along Interstate 95 outside of...
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