Category: Real Estate

Castle & Cooke has received $140 million in financing for Crossings at Corona, a 833,995-square-foot shopping center in Corona, Calif. Deutsche Bank AG provided the loan, in a deal brokered by JLL Capital Markets. Crossings at Corona came online in 2005 on some 103 acres. Image courtesy of JLL Capital Markets Back in 2014, the […]

The Dallas portfolio includes eight light industrial properties encompassing 18 buildings. Image courtesy of Belay Investment Group Birtcher Anderson & Davis and Belay Investment Group have sold a 439,916-square-foot, eight-property light industrial portfolio in the Dallas-Fort Worth metro. The buyer was Basis Industrial, which financed the purchase with a $138 million loan from Beach Point […]

JLL’s Jonathan Lemmond, Columbia University Assistant Vice President of Engineering and Energy Sean Scollins and Jennifer Chalos of Arup debunk retrofitting myths with Mike Kazmierczak of Schneider Electric. Photo by Gabriel Frank The message put forth by panelists across CREtech New York 2024’s second day was clear: using technology for nearly every aspect of operations […]

The 400,000-square-foot building at 1601 McGee St. came online in 2004. Image courtesy of CommercialEdge Patmos is expanding its Kansas City, Mo., presence with a second data center campus. The company is spending $1 billion to repurpose a vacant printing plant, formerly used by the Kansas City Star, into a 100-megawatt facility. The data center […]

As part of the revamp efforts, Woodmont and Sagard built a new 65,000-square-foot expansion of the facility. Image courtesy of Woodmont Industrial Partners and Sagard Real Estate A joint venture between Woodmont Industrial Partners and Sagard Real Estate has secured a 104,451-square-foot industrial lease at its 210,000-square-foot facility in Monmouth Junction, N.J. Federation Distribution Services […]

Plaza Tower came online in 1992 and rises 21 stories. Image courtesy of Snell & Wilmer Law Firm Snell & Wilmer has signed a 57,326-square-foot renewal and expansion at Plaza Tower, a 460,000-square-foot office building in Costa Mesa, Calif., within the South Coast submarket of Orange County. JLL and CBRE negotiated on behalf of the […]

Once IRG will redevelop the eight-building portfolio, availabilities will range from 50,000 to 500,000 square feet. Image courtesy of Industrial Realty Group Industrial Realty Group has purchased a 965,134-square-foot industrial portfolio in St. Cloud, Minn., within the Minneapolis-St. Paul metro. Minnesota Logistics LLC sold seven buildings, while Maiers Transport & Warehousing Inc. sold the eighth, […]

The 31,000-square-foot Trinity Oaks Medical Arts Building is part of a BayCare Health System campus. Image courtesy of Onicx Group Onicx Group has acquired Trinity Oaks Medical Arts Building, a two-story, 31,000-square-foot medical office building in Trinity, Fla., in the Tampa Bay area. The Graham Group sold the asset, according to Pasco County public records. […]

The BNSF Railway Co. has received a recommendation from the Maricopa County Planning & Zoning Commission that a comprehensive plan amendment for the railroad’s 839-acre Logistics Park Phoenix be approved, the Phoenix Business Journal reported. If BNSF’s plans fully come to fruition, the 4,320-acre site in Wittmann, Ariz., will feature a rail-served intermodal terminal, logistics […]

Office and workspace provider e|spaces has entered the Atlanta market after leasing a 32,030-square-foot full floor at Adventus Realty’s 1600 Parkwood Circle property in the Cumberland/Galleria submarket. e|spaces will occupy a full floor at the 1600 Parkwood Circle office building in Atlanta’s Cumberland/Galleria submarket. Image courtesy of Avison Young Avison Young’s Chris Godfrey, Kirk Rich […]

The first phase of of Germann Commerce Center offers 400,000 square feet. Image courtesy of Thompson Thrift Thompson Thrift continued its ongoing focus on Arizona markets with the completion of the first phase of Germann Commerce Center, an industrial development taking shape in the southeast Phoenix suburb of Queen Creek. The initial phase of Germann […]

The development process involved the demolition of three buildings. This 289,915-square-foot life science facility at 2350 Qume Drive was one of them. Image courtesy of CommercialEdge Bridge Industrial has secured a $117 million construction loan for a four-building, 714,491-square-foot industrial project in San Jose, Calif., according to Santa Clara County records. Bank OZK issued the […]

Vantage South End consists of two 11-story buildings that feature about 45,000 square feet of retail space. Image courtesy of CommercialEdge Cousins Properties is under contract to purchase Vantage South End, a 639,000-square-foot office complex in Charlotte, N.C., for $328.5 million. The deal is expected to close next month and is subject to customary closing […]

JLL has appointed Kevin MacKenzie as president of Americas Capital Markets, effective Jan. 1. Kevin MacKenzie will assume his new role as JLL’s president of Americas Capital Markets starting Jan. 1, 2025. Image courtesy of JLL The firm announced that MacKenzie will succeed Jody Thornton in this position. Thornton will assume the role of executive […]

Paragon Commercial Group and Brasa Capital Management have acquired Huntington Oaks, a 328,711-square-foot shopping center in Monrovia, Calif., for $79.4 million, according to public records. Bend Properties was the seller, CommercialEdge data shows. Developed in four phases, Huntington Oaks comprises 11 buildings. Image courtesy of Gantry Gantry secured a $55.9 million loan for the acquisition. […]

Wood Investments Cos. has obtained a $20.3 million loan for Helena Skyway Regional Shopping Center, a 164,121-square-foot retail center in Helena, Mont. Wells Fargo provided the permanent loan for the fully leased property. TJ Maxx is one of the tenants at Helena Skyway Regional Shopping Center. Image courtesy of Wood Investments Cos. The shopping center […]

Medley Cold Logistics is a one-story facility at 7600 NW 82nd Place in Miami. Image courtesy of BGO BGO Cold Chain has purchased Medley Cold Logistics, a 178,000-square-foot Class A cold storage facility in Miami. Truist Securities sold the asset for $60 million, according to Miami-Dade County public records. JLL brokered the deal on behalf […]

The developers expect a project wrap-up in the third quarter of 2025. Image courtesy of CRG and PCCP CRG has formed a joint venture with PCCP to develop The Cubes at Alpha, a 575,900-square-foot industrial park in Alpha, N.J. The team expects completion in the third quarter of next year. PCCP paid $24.8 million for […]

Federal Reserve Chair Jerome Powell speaks at the Nov. 7 press conference. Screenshot by Gabriel Frank The Federal Open Markets Committee cut interest rates by 25 basis points on Thursday, half the rate of the previous cut in September. The current target range is 4.5 to 4.75 percent, a federal funds rate last seen in […]

Venture One and BGO Cold Chain have broken ground on Venture Park Cold at ISP, a speculative Class A cold storage facility in Ronkonkoma, N.Y. Completion of the Long Island property is expected in the fourth quarter of 2025. Venture Park Cold at ISP will come online in the fourth quarter of 2025. Image courtesy […]

Jonathan Gray, president & COO of Blackstone. Image courtesy of Blackstone Blackstone Real Estate Partners X has entered an agreement with Retail Opportunity Investments Corp. to acquire all of its outstanding common shares and debt for $4 billion. The deal is set to be an all-cash transaction and represents a 34 percent premium of ROIC’s […]

The facility’s roof features 45-mil mechanically fastened TPO while the floors consist of an 8-inch, 4,000-psi unreinforced concrete slab. Image courtesy of Colliers Red Rock Development wrapped up construction on a Class A, 519,792-square-foot speculative distribution facility in Gaston, S.C. The building is expandable to some 1.2 million square feet. Colliers markets the property for […]

Westgate Medical Center, located in Brentwood, Tenn. Image courtesy of Avison Young The health-care industry is as strong as ever, with demand for both elective and non-elective outpatient care and employment increasing substantially during the past several years. According to a September report from Savills, outpatient volumes are expected to increase by more than one-quarter […]

Alternative investment firm Stonepeak, specializing in infrastructure and real assets, has acquired nine logistics properties totaling 1.8 million square feet near the Port of Jacksonville in Jacksonville, Fla. In an earlier transaction this year, Stonepeak has acquired Alliance Gateway 61 and Alliance Gateway 53 in Fort Worth, Texas. Image courtesy of Stonepeak This shipping market […]

The Bricken Arcade is a 149,000-square-foot, 1928-built mid-rise office building in Manhattan’s Garment District. Image courtesy of CBRE Rosen Equities has signed a 10,035-square-foot lease at The Bricken Arcade, its 149,000-square-foot office building in Manhattan’s Garment District. Junior Achievement of New York, a local affiliate of Junior Achievement USA, will occupy the entire second floor […]

Welcome back to Sustainability Street, our podcast on the intersection of commercial real estate and the world we live in. For this episode, my guests—Sairah Burki, managing director & head of Regulatory Affairs & Sustainability at the Commercial Real Estate Finance Council, and David McCarthy, CREFC managing director & head of Legislative Affairs—delve into the […]

Pattillo Industrial Real Estate owns the building at 575 Wharton Drive SW, having acquired it in 2018. Photo courtesy of CommercialEdge SHIFT will open its first location in Atlanta on Nov. 19, within the industrial asset at 575 Wharton Drive SW in the South Fulton neighborhood. The co-warehousing provider aims to meet growing local demand […]

The office high-rise dubbed 24th at Camelback II came online in 2009. Image courtesy of CommercialEdge In the largest Greater Phoenix office sale of the year so far, Wide Open Excursions—a leisure service provider—acquired 24th at Camelback II for $97.9 million, public records show. Hines sold the 306,877-square-foot Class A asset with the assistance of […]

North America experienced a modest 0.4 percent increase in the net effective fit-out costs for office spaces in the third quarter, according to a new report from Savills. The region also saw a slight dip in gross rents this past quarter, with a -0.9 percent decrease, primarily influenced by several East Coast markets. However, rents […]

Josh Stoffregen-Foye, CBRE Investment Management’s global head of media relations moderates the third installment with Sabina Reeves, Achal Gandhi, Joseph Smith and Diann Hsueh. Photo courtesy of CBRE Investment Management While harboring consistently optimistic views on the economy, panelists at a CBRE Investment Management press conference acknowledged some of the sector’s structural challenges around capital […]

The recently upgraded office building at 1400 Morris Drive is part of a 1.1 million-square-foot campus. Image courtesy of Rubenstein Partners Rubenstein Partners has added Arcfield as a tenant at Chesterbrook Corporate Center, a 14-building office campus totaling 1.1 million square feet in Wayne, Pa. The government technology and mission support provider signed a 36,000-square-foot, […]

Accesso has added green spaces to many of its buildings and features such as walking or bike paths to accommodate office users’ need to spend more time outside, according to Bentata. Image courtesy of Accesso Partners Many office property owners today are reimagining workspaces not only to boost users’ creativity, support their mental and physical […]

Interstate West – Building A. Image courtesy of JLL Capital Markets READ THE DIGEST !function(){“use strict”;window.addEventListener(“message”,(function(a){if(void 0!==a.data[“datawrapper-height”]){var e=document.querySelectorAll(“iframe”);for(var t in a.data[“datawrapper-height”])for(var r=0;r<e.length;r++)if(e[r].contentWindow===a.source){var i=a.data["datawrapper-height"][t]+"px";e[r].style.height=i}}}))}(); !function(){“use strict”;window.addEventListener(“message”,(function(a){if(void 0!==a.data[“datawrapper-height”]){var e=document.querySelectorAll(“iframe”);for(var t in a.data[“datawrapper-height”])for(var r=0;r<e.length;r++)if(e[r].contentWindow===a.source){var i=a.data["datawrapper-height"][t]+"px";e[r].style.height=i}}}))}(); To have your commercial real estate transaction featured, submit details to Agota Felhazi at [email protected]. Read the November 2024 issue of CPE. The […]

The property features insulated precast concrete wall panels. Image courtesy of Colliers Four Springs TEN31 Xchange, a Delaware Statutory Trust, has purchased a 1.1 million-square-foot industrial asset in Monroe, Mich., for $139.5 million, according to S&P Global. FSXchange used $76.7 million in acquisition financing secured by Colliers. InSite Real Estate previously owned the asset that […]

Source: CommercialEdge As of September, office utilization remained unchanged and vacancy rates are continued to rise, marking a 1.7 percent year-over-year change on a national level. That month, the national vacancy rate stood at 19.5 percent. Among the top markets in the U.S. where the office vacancy rate showed a big increase in comparison with […]

Glenstar has partnered with a private investor for the recapitalization of Presidents Plaza, an 831,442-square-foot office complex near O’Hare International Airport in Chicago. The $62 million, all-cash deal will enable the owners to make additional capital improvements at the two-tower property. Located near O’Hare International Airport, Presidents Plaza comprises two LEED Gold-certified office towers. Image courtesy […]

Source: CommercialEdge In the third quarter of 2024, office sales totaled $9.3 billion across 499 transactions, involving 51.4 million square feet of space, CommercialEdge data shows. This reflects a 9.9 percent decrease in sales count and a 7.2 percent decline in square footage from the second quarter of the year, which encompassed 554 office transactions […]

Source: Emerging Trends in Real Estate Surveys,U.S. respondents only Noting that the commercial real estate industry has reached “an inflection point” and things are finally looking up, the Urban Land Institute and PwC have released their Emerging Trends for Real Estate 2025 forecast for the U.S. and Canada. As usual, the annual report also identifies […]

Stream Realty Partners has secured $63 million in financing for the Chicagoland Industrial Portfolio, which comprises five Class A industrial buildings in the Chicago metro area. JLL Capital Markets arranged the five-year, fixed-rate loan. Aerial view of Rockwell Logistics Center at 2545 W. 24th St. in Chicago’s City South submarket. Image courtesy of JLL Capital Markets […]

Hyperscale specialist Cologix has secured $1.5 billion, through a combination of debt and equity, to finance its further growth in the capital-intensive data center realm. Funds will support ongoing build-outs, as well as new developments in North America totaling 650 MW of capacity. In May, Cologix completed COL4, the first colocation AI-ready data center in […]

Change is in the air this fall for commercial real estate investment. The Fed’s announcement of a 50-basis-point interest rate cut in late September, and the expectation that more cuts are ahead, signals a reopening of the spigot for real estate finance. But there’s plenty more in the mix these days. Therese Fitzgerald To start […]

Phase One of The Hub at London Groveport comprises four industrial buildings. Image courtesy of JLL EQT Exeter has purchased the first phase of The Hub at London Groveport, an industrial park in the Columbus suburb of Lockbourne, Ohio, as well as a 6.7-acre trailer parking lot, in Greater Columbus, Ohio. A joint venture between […]

The 100-year-old building rises 22 stories. Image courtesy of Empire State Realty Trust Empire State Realty Trust Inc. has landed a new tenant at 1359 Broadway, a 481,167-square-foot office asset in Manhattan, N.Y. Bloomsbury Publishing Inc. signed a lease for 24,209 square feet with assistance from Cushman & Wakefield. An in-house representative alongside CBRE negotiated […]

The North Henderson Avenue mixed-use project will comprise 10 buildings and public spaces. Image by GFF, courtesy of Balfour Beatty Acadia Realty Trust and Ignite-Rebees have started construction of a $95.5 million mixed-use project on North Henderson Avenue in Dallas. Balfour Beatty serves as general contractor for the 161,000-square-foot development that’s slated for completion by […]

A rendering of Vantage Data Center’s OH1 in New Albany, Ohio. Image courtesy of Vantage Data Centers Vantage Data Centers has entered the Midwest with a $2 billion investment. The company has broken ground on a 192-megawatt campus, Vantage said on Friday. Dubbed OH1, the facility will be situated on 70 acres in New Albany, […]

Wilshire & Palm rises seven stories in Beverly Hills. Image courtesy of JLL Concord has leased 32,241 square feet at Wilshire & Palm, a redeveloped creative office building at 9171 Wilshire Blvd. in Beverly Hills, Calif. JLL negotiated on behalf of Cruzan, the landlord, while CBRE represented the tenant. The global music company, which supports […]

Stonepeak has acquired a three-building portfolio in Elwood, Ill., at the largest inland port in North America. Image courtesy of Stonepeak Benefiting from its position, robust rail and airport systems, Chicago’s industrial market remains strong and adaptable. Despite a reduction in the industrial pipeline to half of last year’s volume, the metro remains one of […]

Tri-County 75’s development process involved concrete tilt-up construction. Image courtesy of Glenstar Logistics A joint venture between Glenstar Logistics and Columnar Investments has sold Tri-County 75, an 818,000-square-foot industrial park in Fort Myers, Fla. CBRE arranged the sale. In 2022 the duo secured $97.5 million in financing from Square Mile Capital Management for the campus’ […]

Michelle Herrick, JPMorgan’s new head of commercial real estate. Photo courtesy of JPMorgan Chase. JPMorgan Chase has named Michelle Herrick as head of its commercial real estate business, the company said on Wednesday. The appointment will take effect in January 2025. According to Bloomberg, Herrick has been the company’s deputy head of commercial real estate […]

The former inpatient cardiovascular hospital at 4888 N. Stone Ave. had been vacant for 15 years prior to the purchase. Image courtesy of Meridian Meridian has acquired a 94,569-square-foot medical office building in Tucson, Ariz., from an affiliate of Tenet Health. The property is slated to undergo a capital improvement program which will begin this […]

Tustin Financial Plaza was 70 percent leased at the time the deal closed. Image courtesy of CBRE Sagard Real Estate has sold the Tustin Financial Plaza, a 185,180-square-foot office property in Tustin, Calif., for $27.5 million. A local investment firm acquired the property. CBRE represented the seller in the transaction proceedings. The asset previously traded […]

DRA Advisors and KPR Centers have sold Bethel Shopping Center, a 101,105-square-foot shopping center in Bethel, Conn. Phillips Edison & Co. acquired the asset, in a transaction brokered by CBRE. Bethel Shopping Center came online in 2007. Image courtesy of CBRE Bethel Shopping Center—along with 32 other grocery-anchored retail properties—was acquired by DRA and KPR […]

The “ReUse & REImagine: Finding Opportunities for Surplus Office Space” panel at the SIOR conference in Los Angeles. Photo by Jordana Rothberg At the Society of Industrial and Office Realtors’ Fall 2024 event, panelists weighed in on the various opportunities to be found in a challenging market environment, as well as on ways to empower […]

The SIOR main stage at the fall 2024 event in Los Angeles. Photo by Jordana Rothberg No two brokers, even those working in the same industry vertical in the same market, have the exact same method of building meaningful client relationships. That’s why one of the hottest topics at this year’s Society of Industrial and […]

Co-developers Conor Commercial Real Estate and Dayton Street Partners, along with their partner, an affiliate of Heitman, have completed a three-building, 1.1 million-square-foot speculative industrial property in Stockton, Calif. Facilities range from 121,680 to 833,280 square feet. Central Industrial Center comprises three industrial buildings totaling some 1.1 million square feet. Image courtesy of Conor Commercial […]

EQT Exeter Real Estate Income Trust acquired a 202,464-square-foot, last-mile industrial property in the metro Seattle market from Dermody Properties for $81.5 million. Amazon fully occupies the property, according to CommercialEdge data. Amazon fully occupies 2871 S. 102nd St. in Tukwila, Wash. Image courtesy of EQT Exeter Real Estate Income Trust The purchase of 2871 […]

Breakthrough Properties has debuted Torrey View, a 520,000-square-foot life science campus in San Diego’s Del Mar Heights district. The multi-building property, which is on 10 acres, is fully preleased. The 520,000-square-foot Torrey View campus has achieved LEED Gold certification. Photo by Jason O’Rear, courtesy of Breakthrough Properties Breakthrough Properties, a joint venture of Tishman Speyer […]

SDC Austin will comprise two facilities totaling 535,000 square feet upon completion. Rendering courtesy of Sabey Data Centers Sabey Data Centers has completed the first building of SDC Austin, its new data center campus in Round Rock, Texas. The 430,000-square-foot facility broke ground in July 2022. SDC Austin is poised to maximize data center space […]

Whitney Arcaro, chief revenue officer-residential for RXR, interviewing Wesley, LePatner, senior managing director in Blackstone’s real estate group & global head of Core+ Real Estate. ©Myaskovsky: Courtesy of NYU Photo Bureau To be successful in commercial real estate, you need to embrace change. That advice came from Wesley LePatner, a senior managing director in Blackstone’s […]

Last year, DataBank acquired a 95-acre lot in Lithia Springs, Ga., for the construction of ATL5, a 120 MW data center. Rendering courtesy of DataBank DataBank has obtained $2 billion in equity raise led by AustralianSuper, which committed $1.5 billion. The company also secured an additional $483 million in commitments from existing investors. The deal […]

Daniel Levison In the ever-evolving landscape of business finance, owners who occupy their own commercial properties have a unique opportunity to consider and compare sale leaseback transactions to traditional commercial loans to fund growth for their business. Both options offer unique advantages and potential drawbacks. Below we provide a comprehensive comparison to help you help […]

A joint venture between Lincoln Property Co. and Goldman Sachs has obtained $83.8 million in financing for the construction and lease-up of Waterstone, an 894,000-square-foot, four-building industrial development in Kyle, Texas. Bank OZK provided the senior portion of the loan, while Affinius Capital originated the subordinate portion. Lincoln Property Co. and Goldman Sachs are developing […]

The 154,777-square-foot office building went through capital improvements in 2016. Image courtesy of CommercialEdge Ravine Development Co. LLC has sold 10 Park Ave., a 154,777-square-foot office building in Hanover Township, N.J. JLL represented the seller in the off-market deal. RWJBarnabas Health Foundation acquired the asset for $14 million, according to Morris County public records. The […]

Barings has provided a $134 million loan to refinance the existing debt on Smoky Hollow, a mixed-use development in Raleigh, N.C. Kane Realty Corp., Williams Realty & Building Co. and Lionstone Investments delivered the project in 2020. 421 N. Harrington St. features more than 220,000 square feet of office and retail space. Image courtesy of […]

Tejon Ranch Co. has teamed up with Dedeaux Properties to develop and lease a 510,500-square-foot industrial warehouse at Tejon Ranch Commerce Center, a master-planned community covering 1,450 acres in Lebec, Calif. Earlier this year, Dedeaux Properties delivered its first industrial project at 5665 Dennis McCarthy Drive, its first industrial project within Tejon Ranch Commerce Center. […]

Welcome Group LLC, of Houston, has opened the first phase of its Welcome Venture Park industrial project in Durham, N.C. Phase 1 of Welcome Venture Park consists of nearly 400,000 square feet across four buildings. Image courtesy of Welcome Group Master-planned for an eventual total of about 1.3 million square feet, the park seeks to […]

The four-story Sisters Grove Pavilion came online in 2008. Image courtesy of CommercialEdge MedCraft Investment Partners has purchased Sisters Grove Pavilion, a 108,204-square-foot medical office building in Colorado Springs, Colo. The property traded for $31.2 million, with the buyer taking out a five-year, $24.2 million acquisition loan from Alerus Financial, according to El Paso County […]

Ti Cold Account Manager Logan Stuller and Tippmann Innovation Sam Tippmann at Arcadia Cold’s Reno, Nev., property. Ti Cold designed and built the facility, which debuted in 2023. Image courtesy of Ti Cold Saxum Real Estate has kicked off construction on a 322,600-square-foot, build-to-suit cold storage facility in Crown Point, Ind. Arcadia Cold is slated […]

Burnett Plaza’s most recent renovations were completed in 2021. Image courtesy of CommercialEdge Pinnacle Bank Texas has sold Burnett Plaza, a 1.1 million-square-foot Class A office tower in Fort Worth, Texas, Dallas Business Journal reported. The seller granted a leasehold deed to an entity affiliated with Trafalgar Homes, and while the sale price was not […]

GTI Fabrication, a Buffalo, N.Y.,-based provider of turnkey integrated closure solutions, is expanding its energy storage business in the Phoenix industrial market with the full-building lease of a 530,307-square-foot facility at Lakin Park in Goodyear, Ariz. GTI will use the recently completed building at 17505 W. MC 85 in Goodyear, Ariz., for light manufacturing and […]

MilliporeSigma, a Merck unit, has opened its new $317.2 million biosafety testing facility in Rockville, Md. Developed by Alexandria Real Estate, the 260,000-square-foot project represents the life science company’s largest investment in contract testing in history. MilliporeSigma’s new biosafety testing facility in Rockville, Md. Image courtesy of Merck Group The property will house biosafety testing, […]

Gateway Commerce Center came online in 2022. Image courtesy of JLL A joint venture between Westminster Capital and GEIS sold Gateway Commerce Center, a 434,171-square-foot, Class A industrial property in Streetsboro, Ohio, to EQT Exeter. The asset traded for $40.2 million, according to CommercialEdge data. JLL represented the seller. FNS, a 3PL company, is the […]

The national data center market faces many constraints, including supply, access to power, and high construction costs. And yet, inventory continues to grow as vacancy rates decrease. According to a CBRE’s global data center trends report, in the first quarter of 2024, the national data center inventory grew 24.4 percent on a year-over-year basis. During […]

Sunrise Commerce Center will total 465,660 square feet upon full build-out. Image by Chad M. Davis, AIA, courtesy of Adolfson & Peterson Construction IDI Logistics has completed three industrial buildings in Round Rock, Texas. Totaling 310,689 square feet, they represent the first phase of Sunrise Commerce Center. The property spans 37 acres and is planned […]

The first phase of Bayhealth at Blue Hen opened in June. Image courtesy of Anchor Health Properties Anchor Health Properties and Bayhealth Medical Center have completed Bayhealth at Blue Hen, an 80,000-square-foot redevelopment in Dover, Del. Bayhealth announced the project back in 2021 and planned to begin redevelopment in 2022. The health-care provider had acquired […]

919 W. Fulton St. in Chicago’s West Loop is among the very few large office buildings that were a ground-up development. The project also included an adjacent, six-story residential building. Image by Neoscape, courtesy of Fulton Street Cos. Chicago’s office fundamentals didn’t show signs of improvement year-over-year through August, except for its sales volume, which […]

Source: CommercialEdge Year-to-date through September, the national industrial sales volume reached $35.4 billion, with 268.9 million square feet changing hands across 2,513 properties at an average sale price of $133.9 per square foot, according to CommercialEdge data. Prices increased from last year’s average of $125.6 per square foot, while 2023’s total deal volume reached $62.7 […]

As the new year approaches, you need to stay informed about the most important trends and challenges impacting your business. What should be on your radar as you prepare for 2025? In this webinar, we’ll explore strategies for navigating today’s market and share the most pertinent predictions for investment, development, management and leasing. CPE brings together […]

In a $185 million deal, Drawbridge Realty has purchased a Class A office building in Santa Monica, Calif. Clarion Partners was the seller of the property, which is 100 percent triple-net leased to Universal Music Group. Drawbridge Realty has acquired Arboretum Gateway at 2220 Colorado Ave. in Santa Monica’s media district. Image courtesy of CommercialEdge […]

The pandemic has reshuffled the retail sector’s dynamics forever, urging brands to reimagine physical spaces and meet their clients in new ways, all while pushing architects and designers’ creativity to new levels. But with many retailers downsizing and still relying on online shopping, how relevant are brick-and-mortar stores years after the global health crisis locked […]

The newly renovated 660 Fifth Avenue building features Macquarie Group’s logo. Image courtesy of Macquarie Group Macquarie Group has opened its new 250,000-square-foot office at 660 Fifth Ave. in Manhattan’s Plaza District. The global financial services company has relocated its New York City office at Brookfield Properties’ 1.5 million square foot recently renovated building, adding […]

The developer started the conversion of the 475,000-square-foot 40 Thorndike in 2020. Image courtesy of Granite Properties A joint venture of CBRE Investment Management, Leggat McCall Properties and Granite Properties has opened 40 Thorndike, a 475,000-square-foot mixed-use building in Cambridge, Mass. The property is the result of the conversion of the Edward J. Sullivan Courthouse […]

Court Plaza is a six-story office building in downtown Hackensack, N.J., completed in 1984 . Image courtesy of Alfred Sanzari Enterprises Law firm Cole Schotz has signed a 61,582-square-foot renewal agreement at Court Plaza, a 335,000-square-foot Class A office building in Hackensack, N.J. The landlord Alfred Sanzari Enterprises had in-house representation. With a team of […]

Highway 1 Commerce Center is taking shape on more than 14 acres. Image courtesy of Lovett Industrial Lovett Industrial has broken ground on Highway 1 Commerce Center, a 176,105-square-foot speculative development in Philadelphia focused on the need for Class A last-mile space near major highways. A Cushman & Wakefield Debt and Equity team led by […]

Confidence in the commercial real estate sector has improved significantly in the third quarter of 2024, according to the Board of Governors Sentiment Index survey from the CRE Finance Council. The index surged to 121.1, an 18 percent increase from 102.4 in the prior quarter. This marks the highest index reading since the metric was […]

The industrial campus features four points of ingress and egress. Image courtesy of Bixby Capital Management Bixby Capital Management has purchased a 533,632-square-foot, Class A industrial portfolio in Mesquite, Texas. Huntington Industrial Partners previously owned the three-building park, CommercialEdge data shows. CBRE brokered the deal and secured the financing on behalf of Bixby Capital. PCCP […]

Following the pandemic, lab space demand surged due to breakthroughs in mRNA and CRISPR technologies, coupled with low interest rates that funneled billions into the life sciences sector, according to the latest CommercialEdge report. Life science property sales dropped from $6.2 billion in 2022 to $1.8 billion in 2023, but demand remains resilient. Image by […]

Whole Foods at Bay Place came online in 2007. Image courtesy of JLL SITE Centers Corp. has sold the 57,218-square-foot, free-standing Whole Foods at Bay Place in Oakland, Calif., for $44.4 million. JLL Capital Markets arranged the transaction. Completed in 2007, the retail asset is fully leased to Whole Foods on a long-term basis. The […]

Property management a fast-growing commercial real estate specialty. By the end of this decade, the size of the market will reach nearly $99 billion, according to Mordor Intelligence. At the same time, the level of competition is arguably increasing amid the office market’s challenges and shrinking development pipeline for the office and industrial sectors. This […]

Lukas Huberman In the volatility of today’s market, net lease assets have been ports in a storm. Many see net lease properties as a steady stream of cashflow with minimal landlord obligations, which can be true. However, there are pitfalls for net lease owners to avoid. This is especially valid in the current environment, where […]

Suzann D. Silverman ‘Tis the season for feeling haunted. It’s tough to shake a certain uneasiness in the pit of your stomach as jack-o-lanterns, skulls and cobwebs begin to adorn homes, stores and retail countertops, while Halloween themes proliferate among new movie releases and reruns on television. The spookier, the better, it seems. Ghosts, goblins, […]

Hurricane Helene is unlikely to significantly impact insurance premium rates, according to Mike Chapman, national director of commercial markets for HUB International. Image courtesy of HUB International As the Southeast recovers from the devastation brought by Hurricane Helene, experts are beginning to weigh its effects on insurance costs. Hurricane Helene is not a reinsurance event, […]

10501 Cold Storage Rd., a 552,720-square-foot cold storage facility located in Jacksonville, Fla. that LBA bought 2020, according to CommercialEdge information. Photo courtesy of LBA Logistics LBA Logistics has closed on $577.6 million in single-asset, single-borrower financing for the LBA Logistics Value Fund VII Industrial Portfolio, a collection of 25 industrial properties spanning 10 states. […]

Hayden Ferry Lakeside II is part of a 43-acre master plan measuring about 1.6 million square feet of office, retail and residential space. Image courtesy of CommercialEdge Monogram Health has signed a 26,042-square-foot, five-year lease at Hayden Ferry Lakeside II, a 318,240-square-foot office building in Tempe, Ariz. Cushman & Wakefield represented the tenant, while CBRE […]

The Harbor Building dates back to 1956 and rises six stories. Image courtesy of Jamison Services Jamison has signed a 21,000-square-foot long-term lease with women’s fashion label L’AGENCE at The Harbor Building, a 246,000-square-foot office property in Los Angeles’ Wilshire Corridor submarket. JLL negotiated on behalf of the landlord. L’AGENCE will use the space as […]

The Class A logistics facility came online two years ago and is fully leased to three tenants. Image courtesy of JLL Beacon Partners has sold 720 Pegg Road, a 234,224-square-foot Class A logistics facility in High Point, N.C., a Greensboro submarket, for $31.5 million, according to public records. JLL brokered the deal on behalf of […]

Northwood Investors has acquired a collection of industrial assets totaling 1.8 million square feet across Georgia, Florida and Texas for $160 million. Home Depot Cedar Port Distribution Center in Baytown, Texas; Havertys Distribution Center in Braselton, Ga.; and 10000 NW 15th Terrace in Miami, Fla. Image courtesy of JLL Capital Markets JLL Capital Markets represented the seller […]

Tenants at the 60,000-square-foot medical office building cover multiple specialties across diverse healthcare fields. Image courtesy of Simone Development Cos. New York-Presbyterian has signed a 10,189-square-foot long-term lease with owner Simone Development Cos. at a 60,000-square-foot medical office building in The Bronx, N.Y. The landlord was self-represented in direct negotiation with the new tenant. The […]

Sterling Organization has closed on the $180.5 million purchase of a 994,000-square-foot portfolio of open-air shopping centers, the company announced on Friday. Located in the Atlanta, Washington, D.C., and San Antonio metropolitan areas, the three properties were sold by SITE Centers. Presidential Commons in Snellville, Ga., an Atlanta suburb. The property is part of Sterling […]

Marcus Partners has acquired a 1.2 million-square-foot, 25-building light industrial asset collection on 97 acres in Southern New Jersey and Bucks County in Pennsylvania. 200 Rittenhouse Circle in Bristol, Pa., is part of the Crossings Light Industrial Portfolio. Image courtesy of Marcus Partners Collectively known as Crossings Light Industrial Portfolio, the properties are 95 percent […]

With a severe supply-demand imbalance intensifying in most major lab markets across the U.S. in the past year, the overall national lab availability rate has increased to 30 percent and rents have fallen by nearly 9 percent, back to the start of the downturn in early 2022, according to JLL’s new life science real estate […]

The cold storage facility is slated for delivery in the third quarter of 2025. Image courtesy of CJ Logistics America BGO and Yukon Real Estate Partners have broken ground on a 291,000-square-foot cold storage facility outside of Kansas City, Mo. CJ Logistics America will lease the upcoming property, with most of the space dedicated to […]

With 2024 coming soon to a close, the CPE Executive Council predicts what to watch out for in the coming year. Doug Ressler Running the Gamut Hybrid Work and Office Space Demand: The hybrid work model, which became more prevalent during the pandemic, will continue to influence office space demand. Companies are likely to seek […]

Prologis has acquired Alexander Commerce Park, a three-building, 441,072-square-foot logistics portfolio in Raleigh-Durham’s Research Triangle Park. The property sold for $80.2 million, according to public records. Prologis has acquired Alexander Commerce Park, a three-building industrial complex in Raleigh-Durham’s Research Triangle Park. Image courtesy of JLL Capital Markets JLL Capital Markets represented the seller, a partnership […]

Welcome back to Sustainability Street, our podcast on the intersection of commercial real estate and the world we live in. For this episode, I’m tackling carbon credits with my guest Mahesh Ramanujam, CEO of Global Network for Zero and formerly the president & CEO of USGBC. For Ramanujam, carbon credits are a necessary bridge to […]

After years of conflict and tension around return-to-office mandates and hybrid schedules, U.S. employees and employers have seemingly found an acceptable middle ground. Unispace’s global workplace survey found that nine out of 10 employees with hybrid working arrangements are on comfortable, collaborative and productive schedules. Image courtesy of JLL The result is an exceedingly high […]

rPlus Energies started construction on Green River Energy Center and plans to complete the project in 2026. Image courtesy of rPlus Energies rPlus Energies has broken ground on Green River Energy Center, a 400-megawatt solar PV and 400 MW/1,600 MWh battery storage project in Moore, Utah. Completion is scheduled for 2026. The development is one […]

David Simon, Chairman & CEO, Simon Property Group. Image courtesy of Simon Property Group Simon Property Group L.P., the majority-owned operating partnership subsidiary of prominent retail REIT Simon, has amended, restated and extended its $3.5 billion multi-currency unsecured revolving credit facility. Simon reported that the amended and extended credit facility enhances the company’s financial flexibility […]

Continental Realty Corp. has entered the Utah market with the purchase of The Crossroads of Taylorsville, a 630,000-square-foot super regional shopping center in Salt Lake City. TriGate Capital sold the asset in a transaction brokered by Eastdil Secured. The Crossroads of Taylorsville draws more than 7 million visitors annually, according to market research company Placer.ai. Image […]

Berkeley Commerce Center is set to come online in three phases and will consist of five industrial facilities. Image courtesy of Rushmark Properties Rushmark Properties has closed on construction financing for Berkeley Commerce Center, an upcoming industrial campus in Summerville, S.C., set to comprise 2.6 million square feet. United Bank provided the $48.3 million loan, […]

Denholtz Properties, a Red Bank, N.J.,-based commercial real estate investment and development firm with $2 billion in assets under management, has tapped industry veteran Katie Kurtz as its new CEO. Denholtz Properties has appointed Katie Kurtz as its new CEO. Image courtesy of Denholtz Properties Kurtz, most recently co-chief investment officer & chief financial officer […]

The U.S. office sector is still reeling, as funds remain hard to come by and large leasing deals are few and far between. The construction pipeline has decreased significantly, with 76.9 million square feet of office space underway as of June. The number represents only 1.1 percent of existing office inventory, showing that demand for […]

International Plaza II in Dallas underwent multimillion-dollar renovations before becoming almost fully leased at the moment of sale. Image courtesy of CommercialEdge Shorenstein has acquired the 388,000-square-foot International Plaza II, a 15-story office tower in north Dallas, from Taconic Capital, which tapped JLL to market the building earlier this year. Taconic acquired the property in […]

The two-building campus came online in 2021 and was fully leased at the time of sale. Image courtesy of Equus Capital Partners A joint venture between an affiliate of Equus Capital Partners and a U.S.-based public pension plan has acquired a two-building, 299,241-square-foot industrial campus in Lakeland, Fla., a Tampa submarket. An affiliate of High […]

Lisa Pendergast, Executive Director, CREFC. Image courtesy of CREFC The CRE Finance Council held its Capital Markets Conference in downtown Manhattan on “Fed Day.” At 2:00 p.m., the relatively optimistic mood among attendees from the lending, servicing and investment sectors was lifted even further by the somewhat surprising announcement that the Federal Reserve would cut […]

Industry observers are finally seeing some tailwinds in the office market after basically facing a perfect storm of negativity for so long. Office panel at the Blueprint Conference in Las Vegas. Image by Richard Berger for CPE Panelists at the Blueprint Conference in Las Vegas this week are sensing greater employee satisfaction when it comes […]

Federal Reserve Chair Jerome Powell speaking at the September 18th press conference. Screenshot by Gabriel Frank At the conclusion of its September meeting on Wednesday, the Federal Reserve’s Open Markets Committee has elected to slash interest rates by 50 basis points, its first such cut following more than two years’ worth of increases and subsequent […]

Jonathan Hipp Wise tax strategies are an intrinsic part of investing, and that’s why the 1031 exchange is popular in real estate. Named for the section number of the Internal Revenue Code that makes it possible, the 1031 exchange allows the investor to sell one property without paying capital gains tax and buy another of […]

The 878,800-square-foot campus will consist of two speculative buildings and a build-to-suit facility. Image courtesy of Avison Young RealtyLink has obtained $24.8 million in construction financing to develop the first phase of an 878,800-square-foot industrial campus in Spartanburg, S.C. Avison Young arranged the note, as well as $12 million in joint venture equity. Carter Bank […]

Carlyle, the global investment firm, has made a strategic investment into North Bridge ESG LLC, a provider of real estate financing, along with a commitment to provide as much as $1 billion to facilitate the origination of commercial property assessed clean energy (C-PACE) loans by North Bridge. North Bridge Founder & CEO Laura Rapaport described […]

The two buildings will undergo extensive renovations. Image courtesy of Enverra Real Estate Partners In a joint venture with Enverra Real Estate Partners, Gulf Coast Western has purchased Parkway Office Center North and South, a two-building, 230,000-square-foot office campus in Dallas. Principal Financial, the asset’s former lender, sold its interest in the loan to the […]

Transamerica Pyramid Center, which has provided a distinctive pyramid shape to the San Francisco skyline for more than 50 years, has reopened as part of a $400 million renovation by owner SHVO and Deutsche Finance, in partnership with noted architect Lord Norman Foster and his design firm Foster + Partners. New lobby area at Transamerica […]

Megan Abraham Increasing the number of women in leadership roles is good for both a company’s bottom line and for infusing its values into operations. This isn’t an opinion; it is a fact with decades of research to back it up. Countless studies, including one recently published by the American Psychological Association, show that women […]

Denton Distribution Center comprises two industrial buildings totaling nearly 900,000 square feet. Image courtesy of JLL Billingsley Co. has obtained $62.4 million from Allianz Life Insurance for Denton Distribution Center, a newly constructed industrial campus totaling nearly 900,000 square feet in Denton, Texas, public records show. The fixed-rate note refinances the existing construction debt, a […]

CIM Group has signed Southern California Gas Co. to a long-term lease for 198,553 square feet at its City National 2CAL office building in downtown Los Angeles. CIM Group has signed Southern California Gas Co. to a long-term lease at City National 2CAL in downtown Los Angeles. Image courtesy of CommercialEdge The 1.4 million-square-foot, 52-story […]

The law firm will renovate their headquarters at 1313 N. Market St. Image courtesy of Potter Anderson & Corroon LLP Law firm Potter Anderson & Corroon LLP has renewed its headquarters commitment at 1313 N. Market St., a 530,000-square-foot office building in Wilmington, Del. The company will continue to occupy the 82,757-square-foot space for another […]

Alterra will invest in upgrading the facility at 8121 Parkside Ave. in Baytown, Texas. Image courtesy of Alterra IOS Alterra IOS has acquired four industrial outdoor storage assets totaling 17 acres throughout Greater Houston. Lee & Associates and Partners Real Estate worked on behalf of Alterra in the transaction proceedings. According to a company statement, […]

The office building at 1950 Franklin St. will be part of Behring’s Stak Site urban campus, which will also include 1900 Broadway, a 452-unit community featuring office and coworking space. Image courtesy of CommercialEdge Behring Cos. has acquired 1950 Franklin St., a 446,998-square-foot office building in Oakland, Calif. Kaiser Permanente sold the 21-story asset for […]

Data center developer and operator Serverfarm has acquired two Houston data center campuses positioned to deliver near-term capacity to the market through the sustainable modernization of preexisting buildings. Serverfarm’s HOU1, a 350,000 SF building on 197 acres. Image courtesy of Serverfarm It’s the company’s entry into the Texas market, expanding its colocation capabilities across the […]

The joint venture between Regency Centers Corp. and Brand Street Properties has entered the Providence, R.I., market with the purchase of East Greenwich Square, a 158,709-square-foot grocery-anchored shopping center in East Greenwich, R.I. Dave’s Fresh Marketplace is one of the tenants anchoring East Greenwich Square. Image courtesy of JLL EDENS sold the asset for $46.7 […]

DataBank is building a 480 MW data center campus near Dallas that will house as many as eight, two-story data centers—its largest project to date—as the company dramatically expands its capacity to meet the growing demand for artificial intelligence computing needs across the country. Rendering of DataBank’s ATL4 facility, a 40MW data center in Atlanta. […]

Stateline 85 will comprise three facilities, with two of them expected to come online by next summer. Image courtesy of Cushman & Wakefield GTIS Partners and Collett Industrial has started construction on the first phase of Stateline 85, a 933,120-square-foot, three-building industrial campus in Blacksburg, S.C., within the Greenville market. The first two facilities are […]

Launching a commercial real estate brokerage career can be a daunting task. In a business that requires finance smarts, strong relationships, hard work and so much more, it’s overwhelming to know where to begin. CPE spoke to veteran brokers who had wisdom and a few stories to share with college students and industry newbies and […]

The Perris Gateway warehouse will feature 124 dock-high doors and four drive-in doors. Image courtesy of DECA Cos. A joint venture of DECA Cos. and Wildcat Capital Management has received a $135 million loan to finance the development and lease-up of an 850,000-square-foot industrial property in Perris, Calif. Bank OZK was the senior lender, while […]

The latest renovation of The Gild office complex in Dallas has been completed. Architectural firm Gensler undertook the $50 million project on behalf of the owner, Fenway Capital Advisors, and the manager, Stream Realty Partners. South Tower lobby. Image by SquareFoot Photography, courtesy of Stream Realty Partners Located at the southeast corner of I-75 and […]

IBM’s space at One Madison Avenue includes a 300-person auditorium and a 22,000-square-foot Innovation Studio. Image by Roy Rochlin for Getty Images, courtesy of IBM IBM has opened its 270,000-square-foot flagship office at One Madison Avenue, a 1.4 million-square-foot building in Manhattan. Based in Armonk, N.Y., the Fortune 100 firm signed the 16-year, five-floor lease […]

The 2020-completed Domain 12 is LEED Silver certified. Image courtesy of CommercialEdge IBM has signed a 320,000-square-foot, full-building lease at Cousins Properties’ Domain 12 in Austin, Texas. The tenant will assume Meta Platforms’ existing commitment, according to The Business Journals, and extend its maturity date from 2031 to 2040. The assumption will be effective starting […]

Part of DFW III, the property at 2650 Northaven Road in Dallas measures 151,388 square feet. Image courtesy of Basis Industrial In a series of successive transactions, Basis Industrial has purchased office and industrial assets totaling 1.1 million square feet throughout Texas and Florida. Beach Point Capital Management provided acquisition financing, while Newmark facilitated the […]

Alternative investment firm Stonepeak has acquired two logistics assets totaling 1.1 million square feet in Fort Worth, Texas, from institutional investors advised by J.P. Morgan Asset Management. For the acquisition, Stonepeak used a $57 million loan from PGIM Real Estate, public records indicate. Stonepeak has acquired Alliance Gateway 61 and Alliance Gateway 53. Image courtesy […]

The 20-building Corbin Industrial Park came online in two phases in 2005 and 2014. Image courtesy of Harbor Capital Harbor Capital has entered the Dallas-Fort Worth market with the acquisition of Corbin Industrial Park, a 20-building, 606,911-square-foot industrial campus in Denton, Texas. Mar-Properties sold the portfolio, CommercialEdge data shows. Argentic Investment Management provided a $38.7 […]

Centennial and Atlas Hill RE have acquired Annapolis Mall, a super-regional shopping center in Annapolis, Md., within the Greater Washington, D.C., market. Centennial and Atlas Hill RE have acquired Annapolis Mall, a super-regional shopping center in Annapolis, Md. Image courtesy of Annapolis Mall The property—Maryland’s second-largest mall—adds to Centennial’s nationwide footprint within the asset class. […]

Two Pru is rising 58 stories at 180 N. Stetson Ave. Image courtesy of CommercialEdge Expansive will open a new flexible workspace location in Chicago at Two Pru, a nearly 1.1 million-square-foot Class A office tower. The company’s expansion is made in partnership with Wanxiang Real Estate Group and Riverside Investments. This is Expansive’s seventh […]

The portfolio also includes the facility at 1331 Davis Road in Elgin, Ill. Image courtesy of Venture One Real Estate Venture One Real Estate has purchased a five-building, 421,638-square-foot industrial portfolio through its VK Industrial VII acquisition fund. Zilber Property Group previously owned the five facilities throughout metro Chicago, according to CommercialEdge data. In February, […]

Job postings for tech talent, measured alongside the remote share and those specializing in artificial intelligence. Chart courtesy of CBRE Research Despite an overall slowdown in tech talent employment in 2023, demand for workers in fields related to artificial intelligence has increased considerably, according to CBRE’s annual Scoring Tech Talent Report. Last year, tech talent-related […]

There’s a compelling case to be made that office right now is where retail was in 2018, said Bennett. Image courtesy of AmTrust RE The COVID-19 pandemic fundamentally changed the way businesses operate as it accelerated hybrid and remote work trends. Essentially, the office sector has been forced to reinvent itself. Sound familiar? Not long […]

Mansell Overlook’s buildings rise six stories. Image courtesy of Cushman & Wakefield SiteOne Landscape Supply has renewed its 55,869-square-foot office lease at Mansell Overlook. PPF Real Estate owns the 652,000-square-foot, four-building Class A office campus in Atlanta’s suburb of Roswell, Ga., according to CommercialEdge data. The investor paid $142.3 million for the park in 2021—its […]

In line with last year’s trend, Phoenix has solidified its position as the leading market for industrial development in the country. The region’s growth is propelled by high-tech sectors, including semiconductor manufacturing and data centers, which are infusing the area with advanced technology and innovation. TSMC’s advanced manufacturing complex at 5088 W. Innovation Circle will […]

Wells Fargo Center came online in 2011. Image courtesy of CommercialEdge S.L. Nusbaum Realty has secured a 10,253-square-foot lease at The Wells Fargo Center, a 276,500-square-foot office property in downtown Norfolk, Va. The tenant is PBMares LLP, an accounting and consulting firm that will occupy space at the building’s 19th floor. The landlord was represented […]

A salient feature of the current health-care industry is an increasing demand for outpatient care, due to the chronic diseases of an aging U.S. population, according to a new white paper by Savills. Outpatient volumes are expected to increase by 26 percent over the next 10 years, the report notes, citing data from Sg2, a […]

The five-building industrial park came online in 2020. Image courtesy of Cohen Asset Management Cohen Asset Management has acquired the I-30 MacArthur Business Center in an off-market transaction. Lincoln Property Co. previously owned the five-building, 208,743-square-foot industrial park in Grand Prairie, Texas, according to CommercialEdge data. In 2020, Veritex Community Bank issued a construction loan, […]

Faropoint has acquired a 16-building portfolio in key logistics markets Jacksonville, Fla., and Memphis, Tenn., for $105 million, a transaction brokered by Eastdil Secured that was completed in less than 45 days. Faropoint has added 11070 Cabot Commerce Circle in Jacksonville, Fla., to its portfolio. Image courtesy of Faropoint This multi-market off-market acquisition totals 1.7 […]

Aurora East Crossroads includes a 19,000-square-foot ambulatory surgery center. Image courtesy of NexCore Group Intermountain Health, in partnership with NexCore Group, has opened Aurora East Crossroads, an 85,000-square-foot medical office building in Aurora, Colo. Project partners also included Nuveen Real Estate. NexCore Group broke ground on the facility in March 2023. Architect Davis Partnership and […]

New Jersey’s industrial sector is demonstrating positive progress, particularly with the increasing volume of projects in the construction pipeline. However, the metro is still facing several challenges. Matrix Development Group is working on a two-building industrial campus in Budd Lake, N.J. Image courtesy of JLL As of June, 6.4 million square feet were underway, a […]

So far, 2024 has been anything but business as usual, and there have been a lot of unexpected trends in the CRE industry. The CPE Executive Council shares their biggest surprises so far. Mark Rose Follow Previous Cycles My biggest surprise was that industry participants were surprised by a recovery that didn’t appear in 2023 […]

Commercial real estate is often a family business, and some family-run firms have uncommon origin stories. Take BEB Capital. Headquartered in Port Washington, New York, a suburb on Long Island, the company reflects the entrepreneurial energy of the Brodsky family, led by its patriarch, Bert Brodsky. Lee Brodsky has served as CEO of Long Island-based […]

Merritt Properties has acquired a five-building industrial park at 5022 Gate Parkway in Jacksonville, Fla. Merritt Properties has acquired a five-building development in Jacksonville, Fla. Image courtesy of Merritt Properties Formerly known as The Meridian at Deerwood, the property has been renamed Merritt at Gate Parkway. Located in the heart of St. Johns Town Center, […]

READ THE DIGEST VERSION Editor’s NoteCelebrating Female CRE Execs Market PulseThe Latest Economic, Demographic and Industry Data  TransactionsMajor Sales and Financing Deals Feature10 Women Shaking Up CRE Medical OfficeGetting in the Heads of MOB Tenants Coworking9 New Rules of Coworking Economist’s ViewHow AI Will Transform CRE Forecasting Leaf through the Commercial Property Executive digital digest […]

Finding the right talent remains a challenge for data center operators, a key issue amid rapid growth in this sector, according to a new report from JLL. U.S. colocation absorption (MW). Chart courtesy of JLL Research The firm’s data center report findings for midyear 2024 indicated that the booming demand showed no sign of slowing […]

Jessica Fiur, Editor-in-Chief I’ve been trying a new thing lately at home that’s bringing me a lot of joy. An act of micro feminism, at least in my mind: Whenever local moms start a group chat about carpooling or planning school activities, I add all the dads. After all, the men are perfectly capable of […]

Rendering of the lobby of the main building to be redeveloped in phase one of the Texas Research Quarter in Plano, Texas. Image courtesy of NexPoint Texas Research Quarter, a $4 billion life science innovation district planned for 200 acres in Plano, Texas, has received developmental approval from the Plano City Council with NexPoint as […]

Plymouth Industrial REIT and Sixth Street Partners have struck a deal which will provide Plymouth with about $500 million of new capital, the firms announced on Tuesday. Jeff Witherell, Chairman & CEO, Plymouth Industrial REIT. The capital package announced on Tuesday will consist of joint-venture equity and secured mortgages. Image courtesy of Plymouth Industrial REIT […]

Data centers are a new darling among investors in the first half of 2024, representing 14 percent of acquisition and disposition deals during the period, according to DLA Piper’s mid-year real estate investment trends report.  That isn’t the largest share of deals in the period—multifamily still has that distinction, followed by industrial—but data centers’ share […]

The start of interest rate cuts is imminent, according to remarks made Friday by Federal Reserve Chair Jerome Powell, who expressed confidence that inflation is within reach of the U.S. central bank’s 2 percent target. Federal Reserve Chair Jerome Powell. Image by Gabriel Frank “The time has come for policy to adjust,” Powell said in […]

The 440,000-square-foot lab component of Tishman Speyer’s Harvard Enterprise Research Campus in Allston, Mass., has topped out, with the final steel beams of the East and West lab buildings having been put into place. Turner Construction Co. is the project’s general contractor. Rendering of the first phase of Enterprise Research Campus in suburban Boston. Image […]

Signal House is rising 10 stories in the city’s Union Market District. Image courtesy of CommercialEdge Carr Properties has signed a long-term lease for nearly 16,000 square feet of space at Signal House, a 10-story, Class A office building in Washington, D.C.’s Union Market District. The tenant is KIPP DC, a public school system which […]

The first data center of Edged Atlanta features ultra-efficient energy systems and waterless cooling technology. Image courtesy of Edged Energy Edged Energy, a subsidiary of infrastructure giant Endeavour, has opened its first North American data center, near downtown Atlanta. The facility is the first of three data centers planned for the site, which will eventually […]

Sylvania Industrial Park came online in 1938 and recently underwent multiple capital improvements. Image courtesy of JLL CanTex Capital has obtained a refinancing loan for Sylvania Industrial Park, an 893,738-square-foot industrial campus in Fort Worth, Texas. JLL worked on behalf of the borrower to secure the three-year, floating-rate financing from MetLife Investment Management. The firm […]

In Atlanta, Cousins Properties and Town Lane bought a 526,000-square foot office tower in Atlanta’s Midtown district for $83 million that had sold for $118 million in 2003. Image courtesy of CommercialEdge The office sales market is starting to churn again. But, it’s hardly a cause for celebration, given the prices that many properties are […]

One Santana West is part of Santana Row, a mixed-use development that will total 2.4 million square feet of space. Image courtesy of Federal Realty Investment Trust Federal Realty Investment Trust has signed a 23,680-square-foot lease at its One Santana West, a 375,000-square-foot office building in San Jose, Calif. Database platform Couchbase will establish its […]

International Corporate Park in Orlando, Fla., an industrial asset bought by Oaktree Capital in late 2022. Image courtesy of JLL Avana Cos. and funds managed by Oaktree Capital Management L.P. have formed a $250 million venture, the Avana-Oaktree Private Credit Partnership (AOPCP). Through the partnership, Avana will use the capital to finance private debt in […]

Broadway Logistics Center is 2 miles away from three interstates. Image courtesy of Cushman & Wakefield Lovett Industrial has wrapped up construction on Broadway Logistics Center, a 201,329-square-foot Class A industrial building in Denver. Cushman & Wakefield is spearheading the leasing efforts. The company closed on the 15-acre site in September 2022 and construction on […]

The development in Mesa, Ariz., marks Novva’s first data center in the state. Image courtesy of Novva Data Centers Novva Data Centers plans to build a 300 MW campus on 160 acres in Mesa, Ariz. The company is slated to invest more than $3 billion, in two phases, over the next decade. The campus is […]

Alon Lagstein Single-tenant net leased properties are considered safe, passive investments like bonds due to their reliable rental stream and minimal landlord involvement. However, they often come with underappreciated risks. STNLs are typically priced based on their cap rates, which tend to be lower for premium tenants—often blue-chip publicly traded companies. As a result, the […]

Wells Fargo & Co. has approximately $1.9 trillion in assets. Image courtesy of Wells Fargo Trimont, a global commercial real estate loan services provider, has agreed to buy Wells Fargo’s non-agency third-party Commercial Mortgage Servicing business. The deal, backed by Värde Partners, will make Trimont the largest loan servicer in the U.S. commercial real estate […]

Denton Point III, IV and V mark the second phase of a larger development that will total 694,234 square feet at full build-out. Image courtesy of JLL Holt Lunsford Commercial Investments has obtained $32.7 million for the development of the second phase of Denton Point, public records show. First United Bank provided the five-year loan […]

There is a very wide gap between company policies and actual enforcing of office mandates, new CBRE research shows. Image courtesy of CBRE Research Some 80 percent of organizations have a return-to-office policy, but only 17 percent actively enforce it, according to a new survey from CBRE. And while adherence still lags, one-third of CRE […]

Airport Logistics Center comprises 800,000 square feet across two buildings. Image courtesy of Dalfen Industrial Four Hands, an Austin-based high-end furniture wholesaler, has leased the entire Building 2 of Airport Logistics Center in Del Valle, Texas. At 570,000 square feet, the deal marks the largest industrial lease in greater Austin so far this year, according […]

Along with the everyday challenges that property managers face, cybercrime poses a growing threat. Last year alone, this issue was responsible for $12.5 billion in damage to the U.S. economy. As commercial real estate stakeholders adopt more technology, their vulnerability to data theft, ransomware and property damage has increased. Property managers are on the front […]

The 423,000-square-foot Building 100 is part of a larger industrial campus that came online last year. Image courtesy of Dalfen Industrial Dalfen Industrial has sold Building 100 within Midpoint Florida Logistics Center, a 423,000-square-foot industrial facility in Auburndale, Fla. The State of Florida acquired the asset. The city’s Division of Emergency Management is planning to […]

Retail landlords can find some good news in JLL’s United States Retail Outlook for the second quarter. Retail net absorption increased 75.4 percent quarter-over-quarter to 7.7 million square feet, particularly in community centers, lifestyle centers and Class C malls. Tenants are quick to lease available space. Rents are increasing and Gen Z consumers are becoming […]

Skanska has signed a contract with clinical research company Medpace to construct a new nine-story, 562,000-square-foot office development for $164 million, as part of a two-building $327 million expansion of its corporate campus in Cincinnati’s Madisonville neighborhood. Skanska is building a nine-story, 562,000-square-foot office building as part of the Medpace campus expansion in Cincinnati. Image […]

HanesBrands Inc. has leased about 122,600 square feet at the 224,900-square-foot Park Building in Winston-Salem, N.C. The company will be relocating its headquarters to the property, which is at 101 N. Cherry St. in downtown Winston-Salem. HanesBrands Inc. is relocating its headquarters to 101 N. Cherry in Winston-Salem, N.C. Image courtesy of CBRE The seven-story […]

Welcome back to Sustainability Street, our podcast on the intersection of commercial real estate and the world we live in. For this episode, my guest is CRE Finance Council Managing Director Saraih Burki, who heads Regulatory Affairs and Sustainability for the organization. Burki and I discuss how CREFC’s Sustainability Initiative is helping members make sense […]

In an $81.5 million deal, Cannae Partners and Blue Vista Capital Management have sold the Silicon Valley Innovation Hub in San Jose. The building is fully leased to Merck. The buyer, Klein Investments Family Limited Partnership, was represented by Michael Hartel and Nick Velasquez of Colliers International. Merck is the sole tenant at this R&D […]

Seaport Innovation Center, located at 15 Necco St. Image courtesy of Alexandria Real Estate Equities Inc. Pharma powerhouse Eli Lilly and Co. has opened its Lilly Seaport Innovation Center, a research and development facility in the Boston Seaport, as was reported by Citybiz on Tuesday. Lilly Seaport Innovation Center occupies a 12-story, 346,000-square-foot building developed […]

Phoenix is slated to become one of the world’s largest data center markets. And a $20 billion, 1,700-acre campus project in the metro’s West Valley is key for this outcome. Tract is also building a data center campus in Storey County, Nev. Image courtesy of Tract Denver-based developer Tract advanced the plan behind what would […]

The 423,000-square-foot Building 100 is part of a larger industrial campus that came online last year. Image courtesy of Dalfen Industrial Dalfen Industrial has sold Building 100 within Midpoint Florida Logistics Center, a 423,000-square-foot industrial facility in Auburndale, Fla. The State of Florida acquired the asset. The city’s Division of Emergency Management is planning to […]

Investment giant Jamestown is acquiring the Atlanta subsidiary of North American Properties, which has about $2 billion in assets under management. This local branch owns and operates mixed-use properties in Eastern U.S. suburban markets. Three of the nine North American Properties involved in the sale to Jamestown. Image courtesy of Jamestown Jamestown, which has $11.7 […]

The U.S. industrial sector showed slowing signs in the first six months of 2024. Construction starts fell to less than half of completions, with 97.8 million square feet of industrial space underway, according to CommercialEdge. Following two years of record activity, the top markets for industrial deliveries saw activity decelerate and new supply is expected […]

The multifamily and industrial sectors continue to attract capital due to their long-term fundamentals, said Maier. Image courtesy of Baker Tilly The CRE market continues to face its own share of challenges, with high interest rates and debt concerns stubbornly dominating the landscape. In this context, it’s important to highlight that there are reasons for […]

The office building served as a warehouse before its redevelopment in 1989. Image courtesy of CommercialEdge An entity associated with Menashe Properties has acquired Montgomery Park, a 768,443-square-foot office building in Portland, Ore. Natixis sold the asset for $33 million, Multnomah County records show, in a deal arranged by Newmark. Unico Properties and Partners Group […]

The Smith Tower dates back to the 1910s. Image courtesy of Freestone Capital Management The Smith Tower, built more than a century ago as the first skyscraper in Seattle, has changed hands. A group of local investors led by GT Capital bought it from Goldman Sachs, according to CommercialEdge information. The property rises 42 stories […]

Jason Dannatt, founder of Commercial Resource Capital, which has merged with the Houston office of Lee & Associates. Commercial real estate services firm Lee & Associates – Houston has acquired Commercial Resource Capital. The mortgage banking and real estate investment services company is also Houston-based. The merger will allow Lee & Associates – Houston to […]

The joint venture’s first acquisition involved an 86,000-square-foot medical office building at 9377 E. Bell Road in Scottsdale, Ariz. Image courtesy of CBRE Investment Banking. Four months after announcing a joint venture aimed at acquiring up to $300 million in medical office assets across the Sun Belt, Cypress West Partners and TPG Angelo Gordon have […]

Magna’s manufacturing facility features 41 dock-high loading doors and six drive-in doors, as well as 36-foot clear heights. Image courtesy of the Greater Phoenix Economic Council One of North America’s largest automotive suppliers, Magna Steyr, is extending its manufacturing capacity with a 230,000-square-foot facility in Mesa, Ariz., within Power Industrial Park. Magna leased the building […]

RL Cold’s facility will include a 5,000-square-foot storage mezzanine, among other features. Image courtesy of Greek Design|Build The joint venture of RealtyLink LLC division RL Cold and BentallGreenOak has broken ground on a 215,766-square-foot speculative cold storage warehouse in Mount Laurel, N.J. Greek Design|Build, of East Brunswick, N.J., serves as general contractor. Completion is expected […]

Perimeter Town Center comprises three medical office buildings. Image courtesy of JLL Harrison Street and Ackerman & Co. have refinanced Perimeter Town Center, a 274,284-square-foot medical office building portfolio in Sandy Springs, Ga. Mesa West Capital provided the three-year, $51.3 million loan, according to Fulton County records. JLL worked on behalf of the borrower. The […]

The office property at 9501 E. Shea Blvd. came online in 1977. Image courtesy of CommercialEdge In the latest of a string of dispositions, Net Lease Office Properties has sold a 354,000-square-foot office building in metro Phoenix to an unspecified buyer for $71.5 million. Proceeds will be used to repay about $55 million on the asset’s […]

Chula Vista Medical Arts I came online in 1973 and underwent cosmetic renovation in 2013. Image courtesy of CommercialEdge Turner Impact Capital’s Healthcare Facilities Fund has received $29.1 million in financing for Chula Vista Medical Arts I, a 64,231-square-foot medical office building in Chula Vista, Calif. Siemens Financial Services provided the loan, with a maturity […]

The 100,455-square-foot property includes two single-story office buildings . Image courtesy of JLL Capital Markets River Rise Capital has purchased Rampart Center, a 100,455-square-foot two-building office campus in Englewood, Colo., within Denver’s Centennial submarket. The property traded for $18 million. JLL Capital Markets negotiated on behalf of the seller, Libitzky Property Cos. The property is […]