Mike Garlick is now in charge of the Phoenix office’s overall strategy. He holds over two decades of experience in commercial real estate and has a good connection with the Phoenix brokerage community.

Newmark Knight Frank has hired a new market leader for its Phoenix office. Michael Garlick will take on the role of executive managing director, replacing Pete Bolton in overseeing office and brokerage operations, as well as growth initiatives in the Phoenix metropolitan area.

Share
Comments (0)
Led by technology, telecommunications and energy, businesses are expanding across the metro, intensifying competition for office space in both the CBD and the suburbs.
On the back of robust economic growth, Denver’s office market is expanding significantly. Businesses—led by the technology, telecommunications and energy sectors—are expanding in or relocating to the city, creating competition for space in the Central Business District (CBD) and suburbs such as Boulder and Centennial. To keep the momentum going, the metro is improving its infrastructure with public parking and transportation, boosting the live-work-play environment…
Share
Comments (0)
Several national retailers anchor JANAF Shopping Yard, which is situated approximately nine miles from Wheeler’s corporate headquarters.

Wheeler Real Estate Investment Trust has entered a purchase and sale agreement for JANAF Shopping Yard in Norfolk, Va. Through its wholly-owned subsidiary, WHLR-JANAF LLC, the company will acquire the retail center for an expected price of $85.6 million from four different entities.

Located at 5900 E. Virginia Beach Blvd., JANAF Shopping Yard features 887,917 rentable square feet. The asset is anchored by many national retailers, such as BJ’s Wholesale Club and Fuel Center (151,345 square feet), Big Lots (42,500 square feet), T.J. Maxx (37,383 square feet) and service providers, including the U.S. Postal Service and SunTrust Bank. The property features a 37,234-square-foot office in a different building. At the time of the transaction, JANAF Shopping Yard was 94 percent occupied…

Share
Categories : Finance
Comments (0)
Commercial Property Executive and Multi-Housing News are collecting data for the 2018 Leaders in Real Estate Education survey. Complete the survey now to be recognized among the top real estate education programs in the U.S.!
Calling all real estate education programs! Don’t miss out on the chance to participate in our 2018 Leaders in Real Estate Education Survey! The information you provide will be incorporated into a comprehensive list of institutions that have demonstrated a commitment to developing tomorrow’s leaders in the real estate industry. The results will be published in our April 2018 issues of Commercial Property Executive and Multi-Housing News as a resource for the commercial and multifamily real estate industry, and widely disseminated via our websites, newsletters and social media…
Share
Categories : Real Estate
Comments (0)
The portfolio includes two properties serving the University of North Carolina, Charlotte. The acquisition was funded with a 10-year mortgage.

The Preiss Co., in partnership with a fund managed by Crow Holdings Capital, has purchased a student housing portfolio containing 1,180 beds. Recently, Crow Holdings teamed up with Trammel Crow to acquire a 1.3 million-square-foot office complexin Washington, D.C.

The assets, 49 North and University Village, are both located in Charlotte, N.C., near the University of North Carolina, Charlotte. The acquisition was financed through a 10-year, variable interest rate mortgage provided by CBRE through Freddie Mac. The financing will additionally fund renovation work on the two properties’ units and amenities…

Share
Comments (0)
Divaris Real Estate’s Charlotte office negotiated six transactions, including the $800,000 sale of a former furniture store in Columbia, S.C.

Divaris Real Estate has signed new tenants, renewed leases and negotiated a sale, in the Charlotte-Raleigh metropolitan areas. The recently-closed transactions total 43,628 square feet in North and South Carolina.

DRE’s Charlotte office brokered the $850,000 sale of a former furniture store located at 7515 Two Notch Road, in Columbia, S.C. The asset boasts good access to major thoroughfares, with frontage on Route 1, while interstates 77 and 20 are within minutes of the property. Multiple restaurants, retailers and apartment communities are situated in the vicinity. Diana Teitsma, senior vice president at DRE, represented the seller, Haverty’s Furniture Co. TSN Realty LLC acquired the property…

Share
Comments (0)
  • Scandic warns of lower earnings from Swedish operations
  • Hotel stocks slump as oversupply echoes housing market glut

It’s not just Stockholm’s housing market that is feeling the weight of a surge in supply. Profitability among hotels is also under pressure as demand fails to fill a raft of new rooms in the Swedish capital…

Stockholm Has Too Many Hotel Rooms and It’s Hurting Share Prices

Share
Categories : Real Estate
Comments (0)
This acquisition marks the first purchase for the company’s Bamboo Micro Opportunity Fund I LP in Maryland Heights, and the second overall.
Bamboo Equity Partners’ Bamboo Micro Opportunity Fund I LP has acquired an office property in Maryland Heights, Mo. This acquisition marks the first purchase for the fund in Maryland Heights and the second overall.

Located at 11960 Westline Industrial Drive, the building features 93,000 square feet across three stories. Built in 1971, the asset is currently 72 percent occupied to tenants including Lindenwood University, Kantar Health and professional staffing service YOH. The company plans to attract new tenants and upgrade the property to make it more energy efficient. The building is within close proximity to interstates 270 and 70, the Page Extension, Highway 141 and Lindbergh Boulevard. The asset is also located near Westport Plaza, formerly a restaurant and entertainment spot in St. Louis County, which was revitalized and includes a new $75 million World Wide Technology headquarters…

Share
Comments (0)
The $41 million contract comprises the construction of a seven-story high-rise building of more than 129,000 square feet, slated for completion in February 2020.

Skanska is one of the leading development and construction companies in Scandinavia, with operations in building construction and civil engineering in Sweden, Norway and Finland. The firm, which specializes in residential and commercial property projects in select home markets, has signed a contract with Blekinge County Council to construct a new building at Blekinge Hospital in Karlskrona, Sweden.

Share
Categories : Finance
Comments (0)
  • U.K. hub also pitches shorter strip, staged terminal expansion
  • Airlines have complained existing design would be too pricey

London’s Heathrow airport put forward proposals for a sloping runway and said the landing strip could be built to three different lengths as it seeks to cut 2.5 billion pounds ($3.4 billion) from the cost of expansion plans…

Heathrow Plans Sloping Third Runway to Cut Costs by $3.4 Billion

Share
Categories : Finance
Comments (0)
The 170,000-square-foot property will house more than 1,000 employees and is part of the EY@Work initiative, focused on integration, collaboration and innovation.
Ernst & Young LLP has opened its newest office and learning center in Hoboken, N.J. The property will house more than 1,000 employees and feature technology to support high performance teaming and learning…
Share
Comments (0)
The good times in the commercial real estate industry have continued to roll for more than a few years now, but something new is brewing, according to a report by commercial real estate services firm Avison Young.
With the exception of a sprinkling of uncertainty here and there, the commercial real estate industry has been riding high for the last several years, but this year, while sunny skies are still in the forecast, it won’t exactly be business as usual. According to commercial real estate services firm Avison Young’s new report, 2018 North America and Europe Commercial Real Estate Forecast, significant change is on the horizon…
Share
Comments (0)

General Electric Co.’s disclosure of a larger-than-expected $6.2 billion charge related to an old portfolio of long-term care insurance triggered the biggest drop in its shares in more than two months. And analysts say it could be just the beginning of a new wave of bad news from the manufacturer, whose shares plunged 45 percent last year as it undergoes a massive overhaul.

The company’s new chief executive officer John Flannery, who took the helm in August, suggested the company may now be open to a more radical divestment plan than the one outlined in November. Cowen & Co. says a break up of the company may not be economical as the company’s current share price is now worth more than the sum of its many parts. RBC Capital Markets says further charges wouldn’t be surprising and notes that bad news often “comes in installments.”…
Share
Categories : Finance
Comments (0)
The shopping center is set in a busy retail corridor and is home to a mix of retail tenants including Quest Diagnostics and The UPS Store.

Baceline Investments has purchased Piper Plaza, a shopping center in Kansas City, Kan., for $6.3 million from McCownGordon Construction. The acquisition was partially funded by the sale of the firm’s Madison & Edgewood Shoppes in Indianapolis for $4.3 million.

Share
Comments (0)
The property is located along one of the longest retail corridors in Washington, D.C. and holds further leasing potential with the possible addition of 2,018 square feet.

Greysteel has closed the sale of 7350 Georgia Ave., a mixed-use property located on the northern outskirts of Washington, D.C. The asset traded for a record price for non-development commercial real estate on Georgia Avenue in the 20012 zip code, at $333.33 per square foot.

The property is located on Georgia Avenue, one of the longest retail corridors of the city, connecting Silver Spring, Md. to downtown D.C. The asset is situated less than a half mile from the Walter Reed redevelopment project and less than a mile walk to the Red Line’s Takoma Metro Station…

Share
Comments (0)
Equity Office Properties Trust disposed of Central Park of Lisle I and II, an office campus in Lisle, Ill. HFF marketed the property on behalf of the seller and procured the buyer.

A joint venture between GFH Financial Group B.S.C., Lincoln Property Co. and Crestlight Capital has acquired Central Park of Lisle I and II, a Class A office property in Chicago’s suburb of Lisle, Ill. According to Yardi Matrix, the property traded for $129 million, funded by a $93.9 million loan held by Citibank. The previous owner was Equity Office Properties Trust.

Share
Comments (0)

It’s got three outdoor showers and a terrace that overlooks the Met.

Pier Guerci, the former president of the U.S. division of Loro Piana, wasn’t ready to give up his Fifth Avenue penthouse apartment…

Will Anyone Rent This Apartment for $100,000 a Month?

Share
Categories : Real Estate
Comments (0)
The office building, containing 100,000 square feet across two stories, was acquired by Fox Ridge Capital in December last year.

CBRE has been awarded the management contract of an asset in Boynton Beach, Fla. The 100,058-square-foot office building had recently changed hands, with Fox Ridge Capital purchasing the property from Aetna Life Insurance Co. in December 2017. Bill Davis and Cindy Hatcher will lead the team managing the building.

Share
Comments (0)
CPE and Kingsley Associates Partner to see how renters feel about how their spaces are managed.

CPE and Kingsley Associates Partner to see how renters feel about how their spaces are managed.

“The frequent changes in property managers make for poor communication and difficulty in building an excellent working relationship.” —Miami

“The property managers are very attentive to our needs and do an excellent job maintaining the building exterior and grounds, which allows us more time to focus on our customers.” —Hamilton, Ohio….

Tenants on Property Management

Share
Comments (0)
The Key at 12th will contain more than 300,000 square feet of office and retail space, and is expected to be complete by late 2019.
A joint venture between Ellis Partners and Intercontinental Real Estate Corp. has begun construction on The Key at 12th, a Class A office development in Oakland, Calif. The project is planned around the city’s historic Key System Building, constructed in 1911, which will be fully renovated and integrated into the tower. Construction is expected to be complete, and the building occupied, by late 2019. The developers purchased the development site for $9.5 million in March 2017, according to public records…
Share
Comments (0)
  • Bank of Canada governor expected to increase rates this week
  • Highest G-7 debt loads make consumers more vulnerable to hikes

The Bank of Canada is already well into the process of raising interest rates to more normal levels and another increase is expected on Wednesday, after the economy’s stellar performance last year.

The big questions are how quickly do they continue moving up from here, how closely will they follow U.S. increases and where will rates settle. Markets are pricing in at least three more increases this year, which would bring the benchmark rate to 1.75 percent…
Share
Categories : Finance
Comments (0)
  • Focus on exchange-like platforms follows uptick in activity
  • Regulators around the world are scrutinizing cryptocurrencies

China is escalating its clampdown on cryptocurrency trading, targeting online platforms and mobile apps that offer exchange-like services, according to people familiar with the matter…

China Escalates Crackdown on Cryptocurrency Trading

Share
Categories : Finance
Comments (0)
Kerry Hawkins has 18 years of experience in commercial real estate. At HFF, Hawkins will specialize in the repositioning and marketing of underperforming office assets.

Holliday Fenoglio Fowler L.P. (HFF) has hired Kerry Hawkins as senior director for its Boston office. With 18 years of experience in commercial real estate, Hawkins will be focusing on office investment advisory transactions in her new role.

In her previous position as first vice president at CBRE, Hawkins focused mainly on the repositioning and marketing of underperforming assets, representing landlords and tenants in the sale and leasing of office properties. Prior to joining CBRE, Hawkins was a senior associate for three years at the Trammel Crow Co…

Share
Comments (0)
  • Transcations for all of 2017 were the second highest ever
  • Home sales have rebounded after slump earlier this year

Canadian home sales rose to a record in December just before tougher mortgage rules took effect, helping make 2017 the second strongest market ever…

Canadian Home Sales Hit Record Ahead of Tougher Mortgage Rules

Share
Categories : Finance
Comments (0)

London property is having a tough time, but one borough is suffering more than most. Home prices in Southwark — an area to the south of the Thames that includes London Bridge station, Shakespeare’s reconstructed Globe Theatre and trendy Peckham — fell more than 20 percent in the year through November, according to a report from LSL Acadata on Monday. That saw the average home price there drop from 709,130 pounds ($980,000) to 559,529 pounds…

The London Borough Where Home Prices Have Crashed by 21%

Share
Categories : Real Estate
Comments (0)
The metro’s office market has grown substantially in recent years, but faces a few challenges, such as the ongoing recovery from the drop in oil prices, a sometimes-unconstrained development pipeline, as well as the effects of Hurricane Harvey.
Houston continues to be one of the fastest-growing metros in the U.S., with a growing population and an economy that is rapidly diversifying from its reliance on energy. The metro’s office market has grown substantially in recent years, but it faces some challenges that include the ongoing recovery from the drop in oil prices, a sometimes-unconstrained development pipeline and the effects of Hurricane Harvey…
Share
Comments (0)
  • Changes come as Canada’s uninsured mortgage market swells
  • Leaders being asked to take on redefined roles, agency says

Canada Mortgage & Housing Corp. replaced Chief Financial Officer Wojo Zielonka and shuffled its leadership ranks to “better address current and emerging business needs.”

The government-backed mortgage insurer made changes to its leadership team to ensure it continues to meet its business objectives and the housing needs of Canadians, Audrey-Anne Coulombe, spokeswoman for CMHC, said in an email to Bloomberg on Monday. “Many of our leaders have been asked to take on redefined roles.”…
Share
Categories : Real Estate
Comments (0)
  • Wagers on net-long WTI positions climb to highest since 2006
  • Brent in London closes above $70 for first time in three years

Oil traded near the highest close in three years as hedge funds increased their bullish bets on crude to the highest in more than a decade…

Oil Trades Near Three-Year High as Hedge Funds Increase Bullish Bets

Share
Categories : Hedge Funds
Comments (0)
The company has sold its current space and will move to the new office space in late summer 2018. JLL brokered both deals.

GuideStone Financial Resources has leased 115,000 square feet of office space at Pinnacle Tower in Dallas. The company has also sold its current office space, a 194,000-square-foot building at 2401 Cedar Springs Road; however, it will be leased back until the relocation can occur in late summer 2018. JLL brokered the leasing agreement as well as the sale of the firm’s current office.

Share
Comments (0)
The company brokered the sale of the 31,062-square-foot space occupied by In-Shape Health Clubs. The company represented the seller, a family trust, in the transaction.

Hanley Investment Group Real Estate Advisors has arranged the sale of a 31,062-square-foot, single-tenant commercial space in Brentwood, Calif. The company worked on behalf of the seller, a family trust, whereas the buyer was self-represented in the deal. The asset is occupied by In-Shape Health Clubs, a non-national gym brand founded in 1981.

Share
Comments (0)
Founded in 1970 in Switzerland, the Modern and contemporary art fair landed in South Florida in 2002. It has improved hospitality demand, CBRE research shows, with unprecedented increases recorded in December 2017.

Art Basel, the largest global Modern and contemporary art fair, now draws an estimated 80,000 people to Miami, making it one of the major stops among art dealers around the world. Founded in 1970 in Basel, Switzerland, the fair first came to Miami Beach in 2002, attracting 160 galleries and 30,000 attendees as the event’s first international outpost.

Share
Comments (0)
  • AHL Evolution, Systematica’s fund beat other trend followers
  • Florin Court up after switching focus; Aspect, GAM join fray

Cheese, sunflower seeds and rough rice sounds like an unappetizing mix — unless you happen to be a hedge-fund manager.

A handful of computer-driven funds had a bumper 2017 by betting on the future price of such “exotic” assets. The success of this type of managed futures strategy, the industry’s term for trend-following, is now drawing new entrants despite the risks created by the low levels of liquidity…
Share
Categories : Hedge Funds
Comments (0)
The law firm will add 3,000 square feet to its newly renewed lease in the city’s downtown, increasing its footprint at 5 Houston Center to nearly 80,000 square feet.
Jackson Walker has leased a total of 77,015 square feet of office space at downtown Houston’s 5 Houston Center. The lease includes a renewal of 74,094 square feet and an expansion of 2,921 square feet in the office tower. A Transwestern team led by Eric Anderson and Tyler Garrett represented the landlord, with Cushman & Wakefield’s Tim Relyea representing Jackson Walker. The property was acquired one year ago by Spear Street Capital, which purchased it along with two other Class A office assets in Houston from Columbia Property Trust for $272 million…
Share
Comments (0)
The Sydney-based contractor will spearhead the construction of the 1 million-square-foot anchor building at Westmead Redevelopment in New South Wales. Upon completion, the 12-story facility will be the tallest hospital building in Australia.
Multiplex has landed a contract from the New South Wales Government. The Sydney-based contractor recently won the main works contract to develop the centerpiece—a 1 million-square-foot central acute services building—of the $1 billion Westmead Redevelopment hospital project just outside Sydney in Westmead, New South Wales, Australia…
Share
Categories : Finance
Comments (0)
  • Sellers cut asking prices 1.4% in the U.K. capital in January
  • Numbers of days required to sell property is climbing

The new year brought little cheer for London’s housing market with asking prices dropping to the lowest since August 2015.

New sellers cut prices 1.4 percent in January to an average of 600,926 pounds ($821,500), according to a report by Rightmove Plc on Monday. In a further concerning sign for the market, the average number of days required to sell a house jumped to the longest since January 2012, reaching 78 from 71 a month earlier…
Share
Categories : Real Estate
Comments (0)
The two properties sold by Erickson Construction feature railroad spurs and are located near major thoroughfares. The transaction involved a lease contract for STORE Capital.

Marcus & Millichap has arranged the sale and leaseback of a two-property industrial portfolio, with the assets located in Roseville, Calif. and Chandler, Ariz. STORE Capital Corp. acquired the properties from Erickson Construction for $21 million.

The properties are a 56,000-square-foot lumber yard and industrial building at 8350 Industrial Ave. in Roseville and a 79,000-square-foot manufacturing facility, which served as Erickson’s corporate headquarters, at 250 N. Beck Ave. in Chandler…

Share
Categories : Finance
Comments (0)

Apartment rents are on the decline in almost every Manhattan neighborhood. But in Yorkville, the Upper East Side enclave with a brand-new subway line, landlords are demanding more.

Asking rents in Yorkville climbed 3.9 percent in November from a year earlier, to a median of $2,800, according to a study by property listings website StreetEasy. The neighborhood, from 79th to 97th streets, east of Third Avenue, was among just six of the 38 areas measured that had an increase. Only the Financial District saw asking rents climb more…
Share
Categories : Real Estate
Comments (0)
  • Sovereign fund may raise about $5 billion from banks this year
  • Public Investment Fund is seeking to boost investment returns

Saudi Arabia’s sovereign wealth fund, which aims to become a $2 trillion investment giant, is considering borrowing from banks for the first time as it seeks investments in the kingdom and abroad, according to people familiar with the matter…

Saudi Wealth Fund Is Said to Weigh Bank Loans for Investments

Share
Categories : Finance
Comments (0)
Strong demand drivers, rapid technological advances and plentiful capital stimulate growth in the life sciences sector, according to CBRE’s latest 2018 outlook. But the downsides of swift growth often defy expectations.
The U.S. economy has recorded a 2.5 percent growth in 2017, while political uncertainties, the corporate tax reform and the direction of interest rates create clouds on this year’s horizon. According to CBRE’s 2018 national life sciences outlook, both tenants and investors have to be quick and determined—the economic growth entered its late stages and technology advances at an increasingly greater speed…
Share
Comments (0)
  • ‘We want to be No. 1 regardless,’ of competition, CFO says
  • Profit margins on new mortgages to fall during first quarter

Wells Fargo & Co. isn’t giving up its mortgage-lending crown without a fight.

The bank wants to hold on to its top spot as the whale of the $1.7 billion industry in the U.S., even as it predicts profit margins on making home loans will shrink this year and it faces pressure from rival Quicken Loans Inc...
Share
Categories : Finance
Comments (0)
  • With cap on deductions, ‘everyone’s calling their accountant’
  • County’s homeowners pay highest property taxes in the U.S.

The real estate market in New York’s Westchester County, home to the country’s largest property-tax burden, has been on a roll. After a tax overhaul that saddles residents with even higher costs, everyone’s wondering: Can it continue?…

Westchester, Home of America’s Highest Property Taxes, Braces for a Hit

Share
Categories : Real Estate
Comments (0)
Cushman & Wakefield’s Northern California team marketed the property on behalf of the seller, The Carlyle Group.

Vista Investment Group, a Santa Monica, Calif.-based privately held real estate investment firm, expanded its Silicon Valley holdings with the acquisition of Vasona Technology Park, a 314,256-square-foot complex in Campbell, Calif., for $113 million. An unidentified institutional money management firm teamed with Vista in a joint venture on the transaction.

Share
Categories : Finance
Comments (0)

SoftBank Group Corp.’s Vision Fund will invest 460 million euros ($560 million) in Auto1 Group GmbH, valuing the used-car sales portal at about 2.9 billion euros.

About half the investment will be made by issuing new shares, Auto1 said in a statement on Sunday. The Financial Times had earlier reported the size of the investment, saying the deal would give SoftBank control of about one-fifth of the company.

SoftBank’s first major deal in Germany, the investment is among the largest so far in Berlin’s growing tech scene. Masterminded by SoftBank chief Masayoshi Son, the Vision Fund has taken stakes in scores of companies over the past year, including Uber Technologies Inc., Slack Technologies Inc. and Chinese ride-hailing company Didi Chuxing…
Share
Categories : Finance
Comments (0)
  • Average rent rose by 9.1 percent in the fourth quarter
  • A frenzy of building, with development at a 25-year high

Go ahead, just try to rent an apartment in Toronto.

The feat is getting even harder, with supply tight and prices showing no sign of retreating. The vacancy rate in the fourth quarter was among the lowest ever, at 0.3 percent, according to Urbanation Inc. The average monthly rent for a condominium rose by 9.1 percent to C$2,166 (US$1,730) from a year earlier…
Share
Categories : Real Estate
Comments (0)
The RMR Group plans to renovate the 130,000-square-foot asset’s lobby and to bring a series of new amenities in order to attract new tenants following the current occupier’s relocation.

The RMR Group has selected Avison Young to lease one of its office assets located in Washington, D.C.’s Capitol Hill submarket. A team comprising Principals Greg Tomasso and Eli Barnes and Associate Lauryn Harris will start marketing the 130,000-square-foot building after the only tenant’s relocation.

Share
Comments (0)
The highly coveted auto manufacturing facility project, and the 400,000 new jobs that will come with it, are a coup for Huntsville.

The nationwide competition for Toyota Motor Corp. and Mazda Motor Corp.’s new joint-venture manufacturing plant is over, and Alabama has emerged victorious. The companies joined Alabama Gov. Kay Ivey on Wednesday, January 10, to announce that the $1.6 billion facility—and the roughly 4,000 jobs it will create—will go to Huntsville.

A bevy of states from across the country vied for the Toyota-Mazda project in a process spearheaded by commercial real estate services firm JLL on the manufacturers’ behalf. “After a thorough national evaluation process, Huntsville was selected as the ideal location for the new plant,” Meredith O’Connor, international director with JLL, said in a prepared statement…

Share
Categories : Finance
Comments (0)
  • Rise Fund, co-founded by the U2 singer, is investing in Acorns
  • Startup’s other celebrity backers include Kutcher and Durant

Financial technology startups are grabbing a greater share of capital from investors. Now Bono is getting in on the action.

The Rise Fund, a private investment firm co-founded by the U2 lead singer, is making its first known bet on a fintech business by backing Acorns Grow Inc., said people familiar with the matter, who asked not to be identified because the details are private. Acorns offers a stock-investing app tailored to people with small amounts of disposable income…
Share
Categories : Finance
Comments (0)
Thor Equities recently completed the 14,500-square-foot retail building, which offers tenants a 2,500-square-foot rooftop terrace and 120 feet of frontage.

Thor Equities has signed an 8,000-square-foot, 10-year retail lease with Chase Bank at one of its recently completed buildings in Williamsburg. The tenant will occupy space on the ground and lower floors, and is expected to move in during the third quarter of 2018.

The 14,500-square-foot retail building is located at 180 Bedford Ave., and includes 120 feet of frontage. Each ground-, second- and lower-level floor comprises 4,000 square feet, while the property offers 18-foot ceiling heights and a 2,500-square-foot rooftop terrace. The remaining space is suitable for all types of retail or restaurant…

Share
Categories : Finance
Comments (0)
Two tenants have already occupied a major portion of the upcoming data hall expansion. The Chicago metro features low data center vacancy rates, while more enterprises seek to migrate IT operations to specialized, purpose-built facilities.

T5 Data Centers has entered an agreement for a second pre-lease at its Phase 2 of T5@Chicago build-out. The enterprise client is an S&P 500 company which will join the first pre-leased tenant, a hospital network, at the upcoming data hall expansion.

Share
Comments (0)

Just as British home buyers are finding costs ever-so-slightly more affordable, the price of housebuilders is becoming an increasing stretch.

Strong trading updates this week from Persimmon PlcTaylor Wimpey Plc and most recently Barratt Developments Plc have been greeted by falling share prices as buyer fatigue sets in…

Barratt Becomes Latest Victim of U.K. Homebuilder Buyer Fatigue

Share
Categories : Real Estate
Comments (0)

Available office space in midtown Manhattan in the fourth quarter remained far below the post-recession high, but that may not last long.

As buildings go up and tenants move to newer digs outside of core Midtown — the flashy Hudson Yards site on the far west side, for example, or the World Trade Center in lower Manhattan — available space could surge to 14.4 percent of the market by 2021, depending on employment, Savills Studley forecasts. That would be the highest rate since the global financial crisis…
Share
Comments (0)
Frazer Capital has sold 41 Winter St., a roughly 29,000-square-foot, eight-story building anchored by Liberty Travel. The property is located in Boston’s booming Downtown Crossing district.
Gazit Horizons Inc., a subsidiary of Israel-based Gazit-Globe, has expanded its mixed-use portfolio with the acquisition of a 28,690-square-foot building in Boston’s historic Downtown Crossing neighborhood. Frazer Capital, represented by NKF Capital Markets, disposed of the asset for $24.8 million.

Located at 41 Winter St. in one of Boston’s most dynamic districts, the eight-story, 100 percent leased building includes office space and ground-floor retail. The property is anchored by Liberty Travel, which recently signed a lease…

Share
Comments (0)
The 4.4-acre project will consist of 408 residential units, approximately 74,000 square feet of commercial space and a 298-key hotel. The residential component will also include 82 affordable units.
Ventus Group—a developer of innovative core real estate destinations—has started its search for joint venture equity partners, to develop The Fig, a $300 million mixed-use development in Los Angeles. The company has selected Eric Bergstrom of Bergstrom Capital Advisors Inc. as the exclusive real estate capital market advisor…
Share
Categories : Finance
Comments (0)

A tight supply of U.S. homes for sale, coupled with low mortgage rates, led buyers to bid aggressively last year, with 24 percent paying more than the asking price, according to Zillow. That’s the biggest share since the home-listing site began compiling the data in 2012…

One in Four U.S. Homebuyers Paid Above Listing Price Last Year

Share
Categories : Real Estate
Comments (0)
  • Korea is one of the world’s most active cryptocurrency markets
  • Ministry proposal to ban exchanges spurs social-media backlash

Bitcoin slumped to its lowest level since Christmas day as South Korea’s justice minister reiterated his proposal to ban local cryptocurrency exchanges, fueling concern a state crackdown will erode demand for digital coins in one of the world’s biggest markets.

The minister’s comments to reporters on Thursday were later downplayed by a spokesman for President Moon Jae-in, who said the proposal is one among several and that nothing has been finalized. Korea’s government unveiled multiple options for cryptocurrency exchange regulation on Dec. 28, including allowing trading to continue under tighter supervision…
Share
Categories : Finance
Comments (0)
Two discount stores have signed leases in the Washington, D.C., and Baltimore metro areas, totaling just under 43,000 square feet.

H&R Retail, a Washington, D.C./Baltimore-based retail real estate brokerage firm, has competed two retail lease transactions in Fairfax County and Baltimore. The properties are located within significant retail centers in their suburban metro areas and total roughly 43,000 square feet.

Aldi signed a 32,014-square-foot lease at the 13031 Fair Lakes Shopping Center in Fairfax, Va., located on the western outskirts of Washington, D.C. The space was formerly occupied by a Sports Authority store. H&R represented owner Toys “R” Us, whose store is situated adjacent to the property. Aldi, a global discount supermarket chain, has more than 10,000 stores in 18 countries…

Share
Comments (0)
NKF Capital Markets represented Ocean West Capital Partners in the sale of the Class A trophy property. The building is 99 percent occupied.

CB Global Investors has acquired 2600 Michelson, a 311,000-square-foot office tower in Irvine, Calif., from Ocean West Capital Partners. The asset traded for $120 million.

The building is situated on nearly 4.6 acres in the Greater Airport Area submarket of Orange County, just minutes away from Houston’s Restaurant, Mother’s Market, LA Fitness and Central Park West, a new mixed-use urban village and retail center that boasts more than 30 micro-restaurants, bars and stores…

Share
Comments (0)
  • Wall Street scouts for local staff after ‘point of no return’
  • Banks said to block-book school places for London expats’ kids

Goldman Sachs Group Inc.JPMorgan Chase & Co. and Morgan Stanley are on a hiring drive in Frankfurt as global investment banks race to establish new headquarters inside the European Union in time for Brexit.

The biggest Wall Street firms have recently started advertising for scores of staff ranging from risk managers to compliance officers and information-technology specialists, according to internet listings. They need their offices to be up and running by April 2019, headhunters and people familiar with their firm’s hiring plans said…

Share
Categories : Finance
Comments (0)
  • Investors ride rally in high-yield debt that beats forecasts
  • Enthusiasm ignores predictions of more defaults ahead

More than $2.6 billion flowed into high-yield bond funds during the week ended Jan. 10, according to Lipper Fund Flows data released Thursday, as investors looked to get a piece of a junk-debt rally already blowing through year-end forecasts…

Junk-Bond Funds See Largest Cash Inflows Since December 2016

Share
Categories : Finance
Comments (0)
Christian Tyler Properties acquired the single-story building from a private investment partnership. UnitedHealth Group currently uses the property as a corporate call center.

Cushman & Wakefield has brokered the sale of a fully leased, 60,000-square-foot office building in Tampa, Fla. Christian Tyler Properties acquired the property for $10.5 million from 10210 Windhorst Blvd LLC, a private investment partnership. According to public records, Axiom Bank facilitated the deal by providing $7.7 million in acquisition financing.

Share
Comments (0)