Month: July 2024

The three-building 42 Crossing rose on a 22-acre site. Image courtesy of Merritt Properties Merritt Properties has debuted 42 Crossing, a three-building, 213,800-square-foot light industrial campus in Garner, N.C. The firm purchased the project’s 22-acre site for $2.9 million in 2022. One year later, Five Star Bank issued a $28 million construction loan, public records […]

Rents for prime office space now average 31.4 percent over those for Grade A offices in markets globally, according to Savills, with North America having the highest premium, at 62.5 percent above Grade A stock. The intense bifurcation in the commercial real estate market in the U.S. and Canada, with prime buildings seeing intense occupier […]

In a striking contrast of traditional and cutting-edge technologies, a new high-tech campus focusing—at least initially—on quantum computing will rise on Chicago’s lakefront, on the sprawling site of what was for many decades an active steel mill. The 128-acre Illinois Quantum & Microelectronics Park will rise on the site of the former U.S. Steel South […]

After two years of record industrial space deliveries, the development pipeline has slowed, the latest CommercialEdge report shows. The new supply entering the market will decline over the next couple of years, but the long-term outlook for industrial development remains strong. The slowdown in industrial construction can be attributed to normalized tenant demand and recent […]

Source: U.S. Census Bureau As of May, new orders rose by an average of 0.9 percent, or $5.5 million, according to data from the U.S. Census Bureau. The most substantial increase compared to May 2023 occurred in the Computers and Electronic Products sector, where new orders climbed by 4.1 percent. The Furniture and Related Products […]

Source: Trepp The Trepp CMBS Special Servicing Rate ticked up slightly in June, rising 2 basis points to 8.23 percent. Despite this month’s increase being minimal, the rate itself remains at a very elevated level. Prior to the COVID-19 pandemic, the last time the rate eclipsed this month’s 8.23 percent was back in January 2014. […]

Pacific Corporate Center was completed in 1992. Image courtesy of Cushman & Wakefield Lincoln Property Co. has renewed a full-building lease with Charter Communications at Pacific Corporate Center, a 134,000-square-foot office building in San Diego, within the Sorrento Mesa submarket. Cushman & Wakefield negotiated on behalf of the landlord, while CBRE represented the tenant. Lincoln […]

Stos Partners has closed on the Stos Partners Fund I, which will have about $500 million in purchasing power. The fund will seek value-add industrial properties in West Coast markets as well as Arizona, Nevada, Colorado, Utah, Texas and the Southeast. Stos Partners has recently acquired 2325 W. Cypress St. in Phoenix. Image courtesy of […]

TradeportEast-0726 Building D is located within Tradeport East in Midway, Ga., in the Savannah, Ga., industrial market. Photo courtesy of JLL SkyREM has acquired Building D at Tradeport East, a recently built 647,496-square-foot Class A+ distribution facility in the Savannah, Ga., market, from BlueScope Properties Group. JLL Capital Markets represented the seller. The building is […]

Marketplace at Buckhead, an Atlanta shopping center, is anchored by Kroger. Last fall, the asset traded hands and was acquired by Sterling Organization. Image courtesy of Sterling Organization The proposed merger of grocery giants Kroger and Albertsons is on hold following a temporary injunction in a state’s case against the deal. Colorado Attorney General Phil Weiser […]

The office tower rises 12 stories at 1150 Spring St. in Midtown. Image courtesy of Shorenstein Investment Advisers Shorenstein Investment Advisers has acquired 14th & Spring, a 12-story, 324,000-square-foot office tower in Atlanta. The deal reportedly closed with all cash and without any financing. Greenstone Properties and equity partner Goldman Sachs put the Class A […]

The facility at 130-02 S. Conduit Ave. is the second modern multi-story warehouse to be built on U.S. soil. Prologis developed the first one just outside of Seattle. Image courtesy of Institutional Property Advisors A joint venture between Goldman Sachs Urban Investment Group and Triangle Equities has secured an $85 million refinancing loan for the […]

Cooper I-20 Building C features 92 dock-high loading doors, 45 trailer stalls and four drive-in doors. Image courtesy of Cushman & Wakefield Barings has sold Cooper I-20 Building C, a 401,115-square-foot industrial facility in Arlington, Texas. Transwestern Investment Group acquired the asset with the help of a $23 million, five-year loan originated by Jackson National […]

830 Brickell, which is set to open this fall. Image courtesy of OKO Group and Cain International OKO Group and Cain International have just closed on a $565 million permanent loan for 830 Brickell, a 57-story, 638,355-square-foot Class A+ tower being built in the Miami financial district. Provided by TYKO Capital, the new round of […]

The 550,243-square-foot facility marks Primark’s second distribution center in the U.S. Image courtesy of JLL VanTrust Real Estate has sold Primark at Imeson Park, a recently completed 550,243-square-foot facility in Jacksonville, Fla. INDUS Realty Trust acquired the asset, which is fully leased to Primark. This is Primark’s second distribution center in the U.S. and the […]

Winstanley Enterprises will dub the property Mid-Hudson Logistics Center. Image courtesy of Winstanley Enterprises Winstanley Enterprises has acquired a 333,386-square-foot Class A industrial property in West Coxsackie, N.Y. Save A Lot sold the asset, according to CommercialEdge data. The industrial property changed hands for $20.5 million, as reported by the Albany Business Review. CBRE represented […]