Real Estate Rumors: UCSF, Douglas Elliman, Prominence

By Andrew McIntyre
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Law360 (June 2, 2020, 4:18 PM EDT) -- Construction of a $275 million University of California, San Francisco research building has been delayed by a dispute over removing seven additional trees to make way for the building, the San Francisco Business Times reported Tuesday. An earlier environmental impact report for the 175,000-square-foot, five-story project at 1001 Potrero Ave. in San Francisco had called for removing 25 trees but the project now requires removal of 32 trees, which means it cannot yet break ground as had been planned, according to the report.

Real estate broker Douglas Elliman is closing three offices in South Florida as it reconsiders how much space it needs amid the COVID-19 pandemic, The Real Deal reported Tuesday. The company is closing 1000 S. Pointe Drive in Miami Beach, 270 S. Ocean Blvd. in Manalapan and 801 Brickell Ave. in Miami, according to the report.

A Hyatt hotel close to O'Hare International Airport is up for sale as the COVID-19 pandemic continues to weigh heavily on the hospitality sector, Crain's Chicago Business reported Tuesday. Prominence Hospitality is seeking to sell 6350 N. River Road, a 206-room Rosemont, Illinois, hotel the company bought for $7.5 million in March 2017, according to the report.

--Editing by Orlando Lorenzo.

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