Category: Real Estate

Shlomi Ronen of Dekel Capital Commercial mortgage-backed securities are having a banner year in terms of originations. Through the first half of the year, lenders securitized $42.29 billion of loans surpassing the total securitization volume of 2023, according to Trepp. There are multiple factors that are driving CMBS demand, but first allow me to provide […]

Germany-based Commerz Real AG, part of Commerzbank Group, has landed a full-floor lease at 1900 North St., a 256,000-square-foot Class A office building in Washington, D.C. JLL negotiated on behalf of the landlord, while Savills represented the tenant, law firm Brown Rudnick. 1900 North St. includes a column-free, three-story lobby. Image courtesy of JLL The […]

Jason Muss, Muss Development, Jay Johnson, JLL, and Michael Cohen, Williams Equities Health trends come and go. And with them, demand for medical office space shifts. Certain markets are known for hosting certain types of health-care professionals. As such, medical office real estate trends across the nation look a bit different from place to place. […]

Brookfield Properties signed a lease renewal at its 29-story building in downtown Denver, in what was one of the largest deals this year. Image courtesy of Brookfield Properties Denver’s office market concluded the first half of 2024 with some signs of improvement along a few fundamentals. Amid the nationwide slowdown in new office development, plateauing […]

Chino Corporate Center came online in 1991. Image courtesy of CommercialEdge SimplerSpace has opened its third coworking location. The 13,500-square-foot space is at Chino Corporate Center, a 58,573-square-foot office building in Chino, Calif. The flex office provider also operates in Carlsbad, Calif., and Placentia, Calif. The owner of the four-story, Class A office asset is […]

Proscenium came online in 2000 and will undergo significant capital upgrades. Image courtesy of CommercialEdge A joint venture between Cousins Properties and Town Lane has paid approximately $83 million for Proscenium, a 526,000-square-foot office building in Midtown, Ga., an Atlanta suburb. Manulife Investment Management was the previous owner, according to CommercialEdge information. Town Lane owns […]

Trammell Crow Co. and Clarion Partners have completed The Center at Needham Ranch, a 1.7 million-square-foot industrial park in Santa Clarita, Calif. Trammell Crow Co. and Clarion Partners have completed The Center at Needham Ranch in Santa Clarita, Calif. Image courtesy of Trammell Crow Co. Construction on the 11-building project began in 2017. By May […]

Veterans Memorial Business Park will comprise three spec industrial buildings. Image courtesy of Standard Real Estate Investments Investment & Development Ventures, along with equity partner Standard Real Estate Investments, is planning to develop Veterans Memorial Business Park, a 463,000-square-foot industrial campus in Northwest Houston. The site, which counts as infill, is at 10326-10330 Veterans Memorial Drive, […]

Leasing has begun for 125 West 57th St. in Midtown Manhattan, a 260,000-square-foot tower with ground-floor retail and approximately 180,000 square feet of full-floor Class A office space, featuring direct Central Park views and private outdoor spaces. Developed by partners Alchemy-ABR Investment Partners and Cain International along the residential corridor of the iconic Billionaires’ Row, […]

The former owner planned to add two new warehouses to the Brunswick Industrial Campus. Image courtesy of JLL B&D Holdings has acquired Brunswick Industrial Campus, a six-building, 206,069-square-foot property in New Brunswick, N.J. The company obtained a fixed-rate, $23.3 million acquisition loan in a deal arranged by JLL. CommercialEdge identified the previous owner as Development […]

Chevron Chairman & CEO Mike Wirth, who will relocate to Houston later this year. Joining the major corporations that have left California in recent years, Chevron announced on Friday that it will relocate its headquarters to Houston. The energy giant will move its base of operations from Bishop Ranch, a mixed-use campus in San Ramon, […]

In February, Phoenix Investors also purchased an 813,000-square-foot facility in Martinsville, Va. Image courtesy of Phoenix Investors An affiliate of Phoenix Investors has acquired three industrial properties and a solar farm in Nashville, Ark., totaling more than 815,000 square feet. Machine industry company Husqvarna sold the assets. Phoenix Investors plans to implement a capital improvement […]

DWREI and BLDG Management secured a $95 million senior mortgage loan from Northwind Group to purchase the 29-story tower at 100 Wall St. in Manhattan. Image courtesy of Northwind Group A joint venture between two New York City-based real estate investment firms—Lloyd Goldman’s BLDG Management Co. Inc. and David Werner Real Estate Investment—has acquired 100 […]

You can also read our other Top Property Management Firms rankings. Key: O=Office, I=Industrial, R=Retail, M=Multifamily, H=Health care, Ho=Hospitality, X=Other Though we make every effort to include all major property management companies, several notable firms (among them SVN International Corp., Hines, Prologis) did not participate this year. To be included in upcoming surveys, email Agota […]

The developers will break ground on Doral Marketplace this fall. Image courtesy of CBRE The joint venture of SJC Ventures and Nuveen Real Estate has obtained a $69.4 million loan for the development of Doral Marketplace, a 83,329-square-foot shopping center in Doral, Fla. Construction is slated to begin this autumn, while the initial store openings […]

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 […]

The three-story Bedminster 78 Corp Center is at 685 U.S. Route 202/206, in Bridgewater, N.J. Image courtesy of Avison Young Kushner Real Estate Group has inked a 9,624-square-foot lease at Bedminster 78 Corp Center, a 139,000-square-foot office building in Bridgewater, N.J. Principal Drew Persson with Avison Young negotiated on behalf of the tenant, Biocon Biologics, […]

Medical office tenants seek densely-populated markets, said Jason Muss, president of Muss Development. Across the nation, demand for medical office buildings is persistent. As the population ages and the youngest of the Baby Boomers enter their 60s, the need for in-person health care is increasingly critical. But some markets in the U.S. are experiencing more […]

The Davis Cos. has raised $877.1 million into Davis Investment Ventures Fund V—the largest fund in company history—organized it says to capitalize on widespread real estate asset repricing and market dislocation across asset classes. The Davis Cos. and Invesco Real Estate have recently delivered 101 Smith Place, a Class A life science and laboratory building […]

A newly renovated Stater Bros. Markets anchors Marketplace del Rio. Image courtesy of CommercialEdge ROIC has sold Marketplace del Rio, a 183,292-square-foot neighborhood shopping center in Oceanside, Calif. 1st Commercial Realty Group purchased the asset for $56.6 million, or $384.24 per square foot, according to CommercialEdge information. Cushman & Wakefield represented the buyer, while CBRE […]

114 Crosby St., also known as 580 Broadway, debuted in 1898. Image courtesy of CommercialEdge The joint venture between Chelsfield Group and RAM Holdings has obtained a $50 million refinancing loan for 114 Crosby St., a 12-story, 114,000-square-foot Class A office building in Manhattan. Maxim Capital Group, Sabal Investment Holdings and GDS Brightstar provided the […]

One Federal Street came online in 1976 and was completely renovated in 2011. Image courtesy of Tishman Speyer Tishman Speyer has signed a 106,000-square-foot leasing agreement with the Commonwealth of Massachusetts through the Division of Capital Asset Management and Maintenance. The landlord had in-house representation. For at least 10 years, six government agencies will occupy […]

Gus Fontie As the 2024 Chairman of the Board for the MIAMI Association of REALTORS®, I am eager to discuss the upcoming changes in the real estate industry and their implications, not just for residential but also for commercial real estate. Of the two major changes going into effect Aug. 17, 2024, only one impacts […]

David Williams, Jason Armes and Michael J. Korolyk Commercial building owners in California face many challenges in today’s volatile market, including looming deadlines to comply with city ordinances mandating seismic retrofits of specific building types. Non-ductile concrete structures, numbering over 40,000 across the state, are highly vulnerable to seismic events, and retrofits can cost owners […]

Dov Hertz, founder & principal at DH Property Holdings LLC. Image courtesy of DH Property Holdings LLC DH Property Holdings LLC, of New York, has received a $53.8 million construction loan for its PhilaPort Logistics Center. ACORE Capital provided the funds in a deal arranged by Walker & Dunlop. The 282,250-square-foot last-mile warehouse and distribution […]

Completed in 1978, 120 Interstate NW features 32 dock-high loading doors and 22 drive-in doors. Image courtesy of JLL Albany Road Real Estate Partners has sold 120 Interstate NW, a four-building, 281,677-square-foot light industrial business park in Atlanta. Adler Real Estate Partners acquired the asset for $49.6 million with the help of a $29.7 million […]

The 45-story building underwent a $40 million capital improvement program in 2016. Image courtesy of The Durst Organization Charles Schwab & Co. has renewed its 23,000-square-foot lease on the 37th floor of 1133 Avenue of the Americas, a 1,1 million-square-foot high-rise in Midtown Manhattan. The company has been a tenant at the building since 2014 […]

Federal Reserve Chair Jerome Powell, pictured at a 2023 FOMC press conference, has indicated he favors re-proposing Basel III Endgame. Screenshot by Gabriel Frank It’s clear that new rules for how banks build their balances are coming. But we don’t know when they will come or how substantial the changes will be. The updates to […]

JLL’s 2024 U.S. Midyear Construction Update and Reforecast reports price stabilization but also some areas of concern. Adobe Stock image courtesy of JLL Materials and labor costs have outpaced bid-price growth so far in 2024, according to an update to JLL’s 2024 Construction Outlook, which was issued last year. “This has eroded some hard-fought gains […]

The groundbreaking event included speakers from Logistics Property Co. and FCL Builders, among others. Image courtesy of Logistics Property Co. Logistics Property Co. has broken ground on 12821 Titanium St., a two-building, 408,160-square-foot industrial project in Austin, Texas., marking its first development in the area. Funding includes a self-financed construction note of $58 million, CommercialEdge […]

Office visits continue to creep back to prepandemic levels, according to Placer.ai, which reported that nationally, visits in June were down only 29.4 percent compared to June 2019. Looking at markets, Miami is closest to returning to 2019 figures as its visits were down by just 9.8 percent in June compared to June 2019. In […]

Brewster Creek Business Park – 1452, a 260,075-square-foot industrial facility located in Bartlett, Ill. that Brookfield acquired as part of the purchase. According to DRA Advisors, the portfolio contains 12 properties in the Chicago area, totaling roughly 1.4 million square feet. Image courtesy of Brookfield Brookfield Asset Management has completed the acquisition of a 128-property, […]

9000 Wilshire Blvd. changed hands in January. Image courtesy of CommercialEdge In the first five months of 2024, Los Angeles’ office market continued to struggle with new supply, while the metro’s under-construction pipeline was still on a downward trend, according to the latest data from CommercialEdge. Despite a slowdown in terms of development activity, Los […]

Sephora’s Midwest distribution center takes up the entirety of Avon Landings Commerce Park’s second phase. Image courtesy of VanTrust Real Estate VanTrust Real Estate will develop a 746,672-square-foot build-to-suit facility for Sephora in Avon, Ind. The 61-acre property will serve as the beauty retailer’s Midwest distribution center and is scheduled to come online next summer. […]

Stephen Ross, the founder & chairman of the Related Cos. LP., is stepping down after spending 52 years leading one of the largest commercial real estate development firms in the country. Stephen Ross cuts the ribbon at the 50 Hudson Yards grand opening event. Image courtesy of Hudson Yards According to The Wall Street Journal, […]

Tishman Speyer has formed a platform to originate commercial real estate loans tied to institutional-quality U.S. residential, industrial, life science, office and other mixed-use projects and portfolios in the country’s largest metros. In his newly created role of managing director of Credit Strategies, Amit Rustgi will drive Tishman Speyer’s participation in high-yield debt secured by […]

The four-building campus is 70 already percent leased. Image courtesy of The Geis Development A joint venture between Geis Cos. subsidiary The Geis Development and Westminster Capital has delivered Meridian Business Park, a four-building, 208,000-square-foot distribution center in Fort Myers, Fla. The developers broke ground on the project in 2022. Built on a 5.4-acre site, […]

The one-story building at 19949 Kendall Drive. Image courtesy of CommercialEdge Overton Moore Properties has purchased 19949 Kendall Drive, a 104,500-square-foot industrial property in San Bernardino, Calif. A joint venture between Bixby Land Co. and a global investment manager sold the Class A facility that was fully leased at the time of closing. JLL represented […]

Adler Real Estate Partners has purchased Valley Business Center, a 204,981-square-foot light industrial property in Denver. BKM Capital Partners sold the asset for $37.7 million, according to CommercialEdge data. Tenants at Valley Business Center have an average lease term of 13.3 year. Image courtesy of CommercialEdge JLL Capital Markets arranged $21 million in acquisition financing […]

Dothan Warehouse expanded the USDA-certified facility in 2023. Image courtesy of Vertical Cold Storage Vertical Cold Storage will acquire its 10th cold storage facility, in Dothan, Ala. Sponsored by Platform Ventures, the company entered into an acquisition agreement that is expected to close in August. Dothan Warehouse will sell the 109,000-square-foot asset. The current owner […]

The four-story medical office building underwent cosmetic renovations. Image courtesy of JLL Capital Markets Cypress West Partners, in a joint venture with TPG Angelo Gordon, has acquired Chula Vista Medical Arts II, a nearly 37,000-square-foot medical office building in Chula Vista, Calif. Turner Impact Capital sold the Class B asset for $11.6 million, according to […]

Schaefer Logistics Center will come online by the end of next year. Image courtesy of Lovett Industrial Lovett Industrial has obtained entitlements for the development of Schaefer Logistics Center, a 298,000-square-foot industrial facility in Chino, Calif., within the Inland Empire West submarket. Lovett acquired the development site in 2023, for $40 million, according to San […]

Aspen Real Estate has purchased Renaissance III, a 226,000-square-foot foreclosed shopping center in Las Vegas, for $24.7 million. Special servicer LNR Property LLC—representing the CMBS bond group—sold the underperforming asset. The deal marks Aspen’s second foreclosure purchase from LNR. Renaissance III encompasses 226,000 square feet of retail space. Image courtesy of Aspen Real Estate Logic Commercial […]

The Dallas-Fort Worth metroplex has become a key hub for the industrial sector, growing its inventory by an impressive 17.9 million square feet of new space delivered in the first five months of 2024. Presenting a strong pipeline of projects and multiple significant transactions, the metro continues to thrive, according to CommercialEdge data. Urban District […]

The multifamily buildings’ ground floor includes retail space. Image courtesy of CommercialEdge Demetree Global has purchased Hannibal Square, a nine-building, 168,741-square-foot mixed-use asset in Winter Park, Fla., for $55.3 million. CommercialEdge identified the seller as Owens Realty Services. The property encompasses 92,034 square feet of retail and office space, as well as 76,707 square feet […]

Healthcare Realty Trust Inc. is expanding its existing joint venture relationship with Nuveen Real Estate (previously referred to as TIAA) to the tune of about $400 million in assets. Todd Meredith, President & CEO, Healthcare Realty Trust. Image courtesy of Healthcare Realty Trust HRT will contribute the assets to a new joint venture in two […]

The Park at Davie will comprise two logistics buildings. Image courtesy of BBX Logistics Properties The joint venture between BBX Logistics Properties, a subsidiary of BBX Capital Inc., and FRP Development Corp. plans to develop The Park at Davie, a two-building, Class A, 182,000-square-foot logistics campus in Davie, Fla. The partnership purchased the Signature Grand, […]

At industrial facilities like this one, properly preparing for and responding to natural disasters can save lives and avoid heavy financial losses. Photo Kmatta/Getty; courtesy of JLL As industrial demand and development continue their upward trajectory, so too has the complexity of their operations. From storage racks to semiconductors, these facilities depend on reliable transportation, […]

Randy Blankstein Cap rates in the single-tenant net lease sector increased for the ninth consecutive quarter within all three sectors in the second quarter of 2024. Single-tenant cap rates increased to 6.47 percent (+5 bps) for retail, 7.67 percent (+7 bps) for office and 7.10 percent (+8 bps) for industrial. Elevated interest rates and limited […]

Valley View Business Park consists of five industrial buildings. Image courtesy of CommercialEdge The Roxborough Group, together with Bendetti, has closed on a $38.6 million recapitalization for Valley View Business Park, a 195,603-square-foot industrial campus in Las Vegas. The deal also included the assumption of an existing $20 million loan with an interest rate below […]

The state of commercial real estate today does not resemble the years of the Global Financial Crisis for several reasons. According to CBRE, fundamentals for most real estate sectors remain near historical norms amid unexpectedly sturdy economic growth. Fraction of Quarterly CRE Investment Volume as a Share of the Cyclical Peak. Chart courtesy of MSCI, […]

HBC’s U.S. headquarters at 225 Liberty St. in Manhattan, where the company occupies more than 230,000 square feet. Image courtesy of CommercialEdge HBC, the parent company of Saks Fifth Avenue, has agreed to acquire Neiman Marcus Group, the parent company of Neiman Marcus and Bergdorf Goodman, in a $2.7 billion deal. Upon completion of the […]

Brixton Capital has purchased Polo Plaza, a 63,629-square-foot mixed-use property in Del Mar, Calif. ASB Capital Management sold the asset for $18.5 million, in a transaction brokered by Newmark. Polo Plaza houses a mix of office and retail tenants. Image courtesy of CommercialEdge At the time of the sale, Polo Plaza was 69 percent leased […]

The University of California at San Francisco is reportedly planning to develop a 284,800-square-foot research facility and outpatient treatment center on part of the site of the former Potrero Power Station, which is in southeast San Francisco on the bay. The UCSF plan is currently being considered by the San Francisco Board of Supervisors. Herzog […]

Light industrial investors benefit from the reduced supply of capital because these properties generate high cash flow efficiency relative to other industrial property types, Forte said. Image courtesy of Lucern Capital Partners Population growth has fueled explosive growth for the Sun Belt industrial. That wealth has spread to light industrial properties. These assets cater to […]

In CBRE’s Investment Intentions Survey, 97 percent of respondents, many of whom are the world’s largest institutional real estate investors, said they plan to increase capital deployment to data centers. The survey authors noted that data center transaction volume for all of North American totaled $4.8 billion in 2023, a 29 percent YOY increase. Investment […]

Jessica Fiur, Editor-in-Chief There’s a lot to be anxious about right now in the commercial real estate market. There are declines in office demand, an elevated cost of debt and long lead times for electric equipment, which is creating a challenge powering buildings. Lions and tigers and bears, oh my, indeed! But despite some challenges, […]

The tower underwent two adaptive reuse developments. Image courtesy of Cushman & Wakefield Santander Consumer USA has renewed its 211,087-square-foot office lease at 1601 Elm St., a 50-story, 1.4 million-square-foot mixed-use tower in Dallas. Owned by Pacific Elm Properties, a subsidiary of Woods Capital, the property has been called Santander Tower since 2020. Cushman & […]

Angela Cain will take over as Global CEO of the Urban Land Institute in September. Image courtesy of CoreNet Global Angela Cain has been named as the Urban Land Institute’s new global CEO, filling a role that has been vacant for the better part of a year. Cain will join ULI in September, departing her […]

Goodyear Centerpointe spreads on some 31 acres. Image courtesy of Gantry Haagen Co. has received a $29.2 million permanent loan to refinance Goodyear Centerpointe, a 320,000-square-foot retail power center in Goodyear, Ariz. Gantry secured the 20-year, fixed-rate loan through a life insurance company. The note carries a 20-year amortization and a prepayment stepdown after 10 […]

Howard Hughes Holdings has acquired Waterway Plaza II, a 142,400-square-foot office building in The Woodlands Town Center in Greater Houston for $19.2 million. The six-story building is on 3.23 acres and includes a 1,316-spaceparking garage. Waterway Plaza II is part of The Woodlands Town Center in Greater Houston. Image courtesy Howard Hughes Holdings The property […]

EV charging has become a must-have amenity for apartment dwellers as well as commercial tenants. But the planning and placing of EV chargers is no small task for property managers. Welcome back to Sustainability Street, our podcast on the intersection of commercial real estate and the world we live in. My guest for this episode […]

The four-story property came online in 1990 and underwent cosmetic renovations in 2013. Image courtesy of Colliers Welltower has acquired 1201 Alhambra, a 103,652-square-foot medical office building in Sacramento, Calif. NexCore Group sold the asset for $45.6 million, according to Sacramento County records. Colliers U.S. Healthcare Capital Markets facilitated the transaction. The property previously traded […]

Hyde Park Labs will come online at the end of the year. Image courtesy of Trammell Crow Co. Due to several challenges in the office sector, including reduced demand and high interest rates, office sales nationwide have been driven by institutions selling high-quality assets. This strategy helps them balance their portfolios, reduce their office exposure, […]

360 Lexington rises 24 stories in Manhattan’s neighborhood of Murray Hill. Image courtesy of CommercialEdge Savanna has signed a 15,379-square-foot lease renewal at 360 Lexington Ave., a 268,383-square-foot office tower in Midtown Manhattan. Kenneth Park Architects will continue to fully occupy the seventh floor. CBRE’s Senior Vice President Steve Eynon represented the tenant. Kenneth Park […]

Source: Mortgage Bankers Association Commercial mortgage delinquency rates continued to increase during the first three months of 2024. increase was seen across most capital sources, pointing to the challenges caused by loans that are maturing amid higher interest rates, uncertain property values, and questions about some properties’ fundamentals. It is important to recognize that different […]

Logistics Property Co. plans to expand Southern Star Logistics Park with a 582,400-square-foot facility. Rendering courtesy of Logistics Property Co. U.S. Lumber Group has signed a full-building, 550,000-square-foot lease at Logistics Property Co.’s Southern Star Logistics Park in Midlothian, Texas. The agreement also included 25 acres of adjacent outdoor storage land, as well as dual […]

Data as of June 12, 2024 . Source: S&P Global Market Intelligence  As of June 12, 2024, publicly traded U.S. equity REITs raised approximately $11.66 billion through capital offerings. Senior Debt offerings accounted for 60% of total capital raised, amounting to $6.98 billion, followed by common equity which amounted to $4.68 billion. Specialty and Hotel […]

A top-20 pharmaceutical company has taken more than 127,300 square feet in a 10-year lease, with expansion options, at 10075 Barnes Canyon Road (Building C), a 253,000-square-foot life science building under construction in San Diego. The space will be used as a new R&D facility upon completion in 2025, upping the company’s footprint in San […]

Despite economic challenges hitting the office sector across the U.S. and a slow post-pandemic recovery, Boston posted the largest under-construction pipeline nationally, reaching almost 13.9 million square feet of office space as of April, according to CommercialEdge data. This accounts for 5.6 percent of the market’s existing stock, considerably higher than the 1.2 percent national […]

Washington, D.C., is home to the most prime office buildings in the country, according to a new report from CBRE, with its 68 properties edging Dallas, which has 66. The data is based on CBRE’s analysis of office markets in 57 U.S. cities, which found buildings that are bucking the negative trends in office, overcoming […]

The facility also features dedicated tenant storage rooms adjacent to the loading dock. Image courtesy of The Davis Cos. The Davis Cos. and Invesco Real Estate have delivered 101 Smith Place, a 161,616-square-foot build-to-suit Class A life science and laboratory building in Cambridge, Mass. The facility represents the second phase of The Quad, a 554,019-square-foot […]

The sector’s completions and net absorption have both slumped, while the vacancy rate continues to trend upwards. Chart courtesy of Marcus & Millichap Medical office construction has slowed—especially outside of Texas—and health-care retailers are shuttering, according to Marcus & Millichap’s national medical office report for the first half of the year. Most medical office construction […]

JPMorganChase is planning to double its downtown Miami office footprint at 1450 Brickell to 160,000 square feet, up from 80,000 square feet over the next two years, as well as expand its physical presence in other parts of Florida. JPMorganChase’s major expansion will include other South Florida locations, in addition to the 1450 Brickell office […]

Schrader Farms Business Park will comprise three buildings. Image by Deutsch Architecture Group, courtesy of Ryan Cos. Ryan Cos. has started construction on Schrader Farms Business Park, a three-building industrial project slated to bring 432,000 square feet to Chandler, Ariz. The company acquired the project from the initial developer, Core5 Industrial Partners, for $16.1 million, […]

The industrial property at 9865 N. Virginia St. in Reno is planned to comprise 180,000 square feet. Image courtesy of Standard Real Estate Investments Standard Real Estate Investments and Mohr Capital are teaming up for the first time. The duo will develop a 180,000-square-foot multi-tenant industrial facility on an 11-acre site in Reno, Nev. Completion […]

Northpond Partners has purchased Iroquois Center, a 108,412-square-foot value-add neighborhood center in Naperville, Ill. DRA Advisors sold the asset in a transaction brokered by Mid-America Real Estate Corp. Planet Fitness is one of the tenants at Iroquois Center. Image courtesy of Mid-America Real Estate Corp. The new owner paid $9.4 million for the neighborhood center […]

TREX, a Virginia-based composite decking company, has leased the entirety of a 324,000-square-foot warehouse-distribution building at the Mid-Atlantic 81 Logistics Park in Berkeley County, West Virginia. Equus Capital Partners, which holds a diverse portfolio of commercial and residential properties, is the landlord. The Mid-Atlantic 81 Logistics Park in Berkeley County, West Virginia. Image courtesy of […]

North Loop Green’s office tower (pictured on the right) provides views of the downtown Minneapolis skyline and Target Field. Image courtesy of Kraus-Anderson Hines, Marquee Development and AFL-CIO Building Investment Trust have officially completed North Loop Green, a 1 million-square-foot mixed-use development in Minneapolis. The project comprises 350,000 square feet of office space, 350 multifamily […]

Buckeye Medical Plaza offers 48,000 square feet. Image courtesy of Hammes Hammes has opened Buckeye Medical Plaza, a 48,000-square-foot medical office building in Buckeye, Ariz., near Phoenix. Cotton Architecture acted as architect and MJ Harris Construction served as general contractor. Integrity Commercial Real Estate Founder Melynn Wakeman handled leasing efforts. The developer broke ground on […]

(Left to right) Colin Cannata of CBRE, Keven Kessinger of Trademark Property Co., and Eric Hudson of Method Architecture at the National Association of Real Estate Editors conference in Austin. Office to residential conversion occupies a lot of headlines today, and some developers have successfully embarked on these projects. In one of the larger examples, […]

Rockefeller Group and Stonebridge topped out the building at 600 Fifth St. last month. Photo courtesy of Clark Construction Fundamentals were a mixed bag for the Washington, D.C., office market in the first four months of the new year, except for investment activity, which grew significantly since last year, according to the latest CommercialEdge data. […]

Jonathan Hipp, Principal & Head of U.S. Net Lease Group, Avison Young. Image courtesy of Avison Young Recent U.S. economic news has shown nothing if not uncertainty about the future. Here are some examples that happened within a few weeks of each other: The Federal Reserve Bank of New York warned that supply chain disruptions […]

1550 on the Green is the first component of Skanska’s three-block mixed-use project dubbed Discovery West. Image courtesy of Skanska Boston Consulting Group has inked a 12-year lease for about 53,000 square feet plus parking at the 1550 on the Green office building in Houston. Now the property is nearly half—48 percent—leased, with BCG expected […]

(Left to right) Will Ford, president of operations at Westrock Coffee; Joe T. Ford, co-founder & chairman of Westrock Coffee; Arkansas Gov. Sarah Huckabee Sanders; and Scott Ford, co-founder & CEO of Westrock Coffee at the grand opening of the company’s ready-to-drink facility in Conway, Ark. Image courtesy of Westrock Coffee Westrock Coffee Co. has […]

Some of the open retail spaces at The Edge. Image courtesy of Diversified Partners Diversified Partners has assumed leasing and brokerage duties for the under-development retail spaces at The Sydney and The Edge, two adjacent retail and mixed-use projects in Scottsdale, Ariz. Locally based Palmer Development Group is developing the properties, which will include retail, […]

Vantage AZ11 Data Center in Phoenix. Image courtesy of Vantage Data Centers This week, Vantage Data Centers completed a $9.2 billion equity investment to fund Vantage’s growth across North America and EMEA, accelerating and extending the company’s strategic capabilities to partner with global hyperscalers in meeting unprecedented cloud and AI demand. Silver Lake and global […]

Howard Hughes purchased the asset in 2019 and subsequently relocated its headquarters there. Image courtesy of CommercialEdge Howard Hughes Holdings Inc. has secured $130 million for the refinancing of 9950 Woodloch Forest Drive, a 601,000-square-foot Class A office building in The Woodlands, Texas. The non-recourse note carries a five-year term and amortizes on a 30-year […]

Highland Commerce Center of Fort Myers, a 482,000-square-foot speculative industrial project in Fort Myers, Fla., has been completed. HSA Commercial Real Estate, the developer, encountered a number of unusual circumstances that affected development, including a hurricane and the presence of a protected wildlife species. The road to the successful delivery of Highland Commerce Center was […]

Silvernail Plaza previously traded in 2001. Image courtesy of Mid-America Real Estate Corp. Essential Growth Properties has purchased Silvernail Plaza, a 116,135-square-foot, grocery-anchored shopping center in Pewaukee, Wis. The asset changed hands for $16.4 million, as reported by BizTimes. United Properties sold the property in a transaction brokered by Mid-America Real Estate Corp. At the […]

Williams Mullen Center came online in 2010. Image courtesy of Commonwealth Commercial Partners Williams Mullen has extended its lease at 200 S. 10th St. in downtown Richmond, Va. The regional law firm has been anchoring the 15-story, 207,000-square-foot office building known as the Williams Mullen Center since its 2010 completion. MEK Management Services Inc., acting […]

Image courtesy of TK Elevator TK Elevator, a global leader in mobility solutions, presents EOX, a revolutionary elevator system tailored for 2 to 10-stop buildings. Designed with German engineering and assembled in North America, EOX represents a significant leap forward in the elevator industry, combining affordability, energy efficiency and advanced digital connectivity. EOX: Elevating urban […]

Constellation 485 South marks the company’s eight development. Image courtesy of Constellation Real Estate Partners Constellation Real Estate Partners has acquired 41.4 acres in Charlotte, N.C., for the development of Constellation 485 South, a 374,220-square-foot speculative industrial building. This marks the company’s first project in the market. The developer purchased the site for $11.8 million […]

The 210,000-square-foot facility was originally completed in 1973. Image courtesy of Woodmont Industrial Partners Woodmont Industrial Partners, together with Sagard Real Estate, has completed a capital improvement program at 461 Ridge Road, a now 210,000-square-foot Class A industrial facility in South Brunswick, N.J. This marks the fourth project brought online by the partnership in the […]

When you’re developing a high-profile, high-stakes project, how do you balance all the complex priorities? That’s the challenge that MCB Real Estate is taking on with Baltimore’s Harborplace, one of the nation’s most prominent current redevelopments of an urban waterfront. Gina Baker Chambers leads MCB Real Estate in tackling challenging projects. Photo courtesy of MCB […]

Hilltop Plaza has a high performing national and credit tenancy. Image courtesy of Primestor Development Primestor Development has purchased Hilltop Plaza, a 245,921-square-foot retail center in the East Bay city of Richmond, Calif., for $36.5 million. The acquisition, marking the company’s entrance in the Northern California market, was arranged by JLL. The previous owner was […]

Summit Real Estate Group has closed on a 190-acre land acquisition for Wendell Commerce Center in Wendell, N.C., and in July will begin developing in one of the fastest-growing communities in the Raleigh MSA. Summit Real Estate Group has closed on a 190-acre land acquisition for Wendell Commerce Center. Image courtesy of Summit Real Estate […]

4141 N Scottsdale Road spans 162,227 square feet. The new owner will redevelop the asset. Image courtesy of George Oliver Cos. A joint venture between George Oliver Cos. and Ascentris has acquired the office building at 4141 N. Scottsdale Road, in Scottsdale Ariz. The partners paid $26.1 million for the 162,227-square-foot property. JLL represented the […]

The push to enhance U.S. manufacturing, especially for semiconductors and clean energy technology, has spurred a construction boom, the latest CommercialEdge industrial report notes. Manufacturing construction spending hit $233 billion in April, more than doubling in two years. Image by Gorodenkoff/iStockphoto This boom is driven by manufacturers aiming to strengthen supply chains and reduce outsourcing, […]

We spend up to 90 percent of our lives indoors and it’s important to understand the health implications of our indoor environments, said Burt. Image courtesy of hb+a Architects Commercial real estate spaces today look very different from what they used to. Tenants’ needs and preferences have been pushing architects and designers to add more […]

33815 Weyerhaeuser Way S. features 32-foot clear heights, two grade-level and 35 dock-high doors, along with a 130- to 185-foot truck court. Photo courtesy of IRG Amazon has leased the entirety of Industrial Realty Group’s 33815 Weyerhaeuser Way S. in Federal Way, Wash., in the southwest corner of King County. The property will provide the […]

After acquiring 16 acres, Sartorius broke ground on the Center of Excellence in Ann Arbor, Mich., in June 2022. Image by Melanie Reyes, courtesy of Sartorius Sartorius, a Germany-based life science research and biopharmaceutical company, has completed a $100 million, 130,000-square-foot facility in Ann Arbor, Mich. The group broke ground on the Center of Excellence […]

Mira Mesa Market West Shopping Center came online in 2000. Image courtesy of Decron Properties Decron Properties has acquired Mira Mesa Market West Shopping Center, a 238,747-square-foot retail center in San Diego. Stockbridge Capital Group sold the fully leased asset for $99 million. Furthermore, the acquisition of the property included the assumption of the current […]

The logistics sector faces much-discussed challenges: shifting tenant needs, a decline in new product and a tough deal environment. But even as they detailed those issues on Thursday morning, executives at NAIOP’s annual I.CON East conference also saw plenty of signs of long-term opportunity and investor interest.   Panel discussion at NAIOP’s annual I.CON East conference. […]

The tenant roster at Colony Place features more than 50 stores and restaurants. Image courtesy of Newmark Knight Frank The Rainier Cos. has sold Colony Place, a 393,566-square-foot Class A regional shopping center in Plymouth, Mass. The national commercial real estate investment firm sold the asset for $86 million. DLC Management Corp. acquired the retail […]

In November, Andersen Corp. started construction on a 638,000-square-foot manufacturing and distribution facility in Locust Grove, Ga. Image courtesy of Andersen Corp. Atlanta stands as a dynamic hub for industrial development, its location and robust infrastructure making it an attractive destination for businesses seeking to capitalize on its logistical advantages. Atlanta’s industrial pipeline in the […]

NAREIT President & CEO Steven Wechsler During REITWeek, REIT executives get an opportunity to “cut through the noise,” in the words of NAREIT President & CEO Steven Wechsler, and tell their stories directly to investors, potential investors and analysts. The content for the four-day NAREIT-hosted conference held being held in New York this week consists […]

Jaye Calhoun & Divya Jeswant Few states impose property tax on intangible assets such as a trade name, franchise, goodwill and the like. Indeed, some office buildings, industrial properties and big-box stores don’t derive significant value from intangibles in the first place. Intangibles are a significant income generator for many hotels, casinos, restaurants and other […]

Will Renner’s professional expertise on smaller markets is also backed by personal experience. Image courtesy of Hines In times of economic hurdles that have permeated all sectors of commercial real estate, investors and developers are increasingly turning to previously overlooked smaller markets to stay active or even grow. And coastal areas and the Sun Belt […]

The Meridian, now fully managed by Colliers Real Estate Management Services. Photo courtesy of Colliers Hertz Investment Group has appointed Colliers to provide real estate management services at The Meridian, a 17-story office tower in Columbia, S.C. Senior Property Manager Cheryl Love and Assistant Property Manager Yelissa Motta will be joining several other Colliers professionals […]

The portfolio also includes 2700 Summit Ave. and 2701 E. Plano Parkway. Image courtesy of Cushman & Wakefield DRA Advisors has purchased an eight-building, 846,261-square-foot infill industrial portfolio in Plano, Texas. New York Life provided $79 million in acquisition financing, public records show. Link Logistics sold the Metroplex properties, according to CommercialEdge information, in a […]

Diversified Healthcare Trust, of Newton, Mass., has closed a $120 million mortgage loan secured by eight properties within DHC’s medical office and life science portfolio. Two Newton Place in Newton, Mass., Diversified Healthcare Trust’s corporate headquarters. Image courtesy of CommercialEdge The properties are located in seven states and total about 725,000 square feet. As of […]

Dermody announced the LogistiCenter at Interstate 80 Phase II in 2021. Image courtesy of Dermody Properties Daikin Industries has signed two leases totaling 111,452 square feet of warehouse space across two LogistiCenters in Rohnert Park, Calif., and Verdi, Nev. Dermody Properties owns the facilities, with the latter slated for delivery in the second quarter of […]

An affiliate of New York-based Mack Real Estate Group has won the rights to develop more than 2,300 acres of fully entitled land adjacent to the Taiwan Semiconductor Manufacturing Corp.’s semiconductor fabrication campus in Phoenix’s North Valley that could result in a $7 billion master-planned mixed-use development built over many years. McCourt Partners will be […]

Great American Tower, which spans 350,049 square feet across 25 stories. Photo courtesy of CommercialEdge DPC Cos. has completed the sale of 3200 Central, a 25-story, 350,049-square-foot office building in Phoenix. Los Angeles-based Younan Properties picked up the property for $24.5 million, public records show. A Newmark brokerage team, led by Executive Managing Directors Chris […]

400 Summer St., a 630,000-square-foot life science development in Boston’s Seaport district, has celebrated its formal opening as the new headquarters of Foundation Medicine, a cancer-testing tech specialist previously based in Cambridge, Mass. The building is the most recent development in the 33-acre Seaport, a multi-building project undertaken by WS Development. WS Development has celebrated […]

The June Digital Issue of CPE Is Now Available! From the Editor Feature. Image courtesy of Avison Young Distressed. Image by solidcolours/iStockphoto.com Industrial. Images courtesy of Lowney Architecture CDO Stack. Image by sorbetto/iStockphoto.com Economist’s View. Image by Erhui1979/iStockphoto.com Transactions. Image courtesy of JLL Capital Markets READ THE DIGEST VERSION Editor’s NoteThe Broker’s Challenge: Finding Deals […]

Industrial projects continue to move forward, albeit at a more moderate pace. According to CommercialEdge data, approximately 401 million square feet of industrial space was under construction across the U.S. by the end of April, accounting for 2.0 percent of total stock. The development of industrial properties in Phoenix has led the nation, with nearly […]

W. P. Carey expects the redevelopment efforts to be completed by late 2025. Image courtesy of Newmark Persimmon Technologies, a subsidiary of Sumitomo Heavy Industries, has signed a 142,224-square-foot, long-term lease with W. P. Carey in Bedford, Mass. Newmark represented the owner, while Colliers negotiated on behalf of the tenant. The tech firm will relocate […]

Microgrid diagram. Courtesy of JLL In today’s energy-driven economy, microgrids play an increasingly critical role. These local self-contained electrical systems supplement the power supply from the main grid while providing resiliency and the opportunity to incorporate alternative sources of energy. Welcome back to Sustainability Street, our podcast on the intersection of commercial real estate and […]

Editorial Director Suzann D. Silverman Patience has never been one of my stronger points. I don’t like waiting in line or in stopped traffic. I can’t sew tiny, even stitches. I like to know how the story ends as quickly as possible, whether it’s a book, a movie or an entire season of a TV […]

Among Terreno Realty Corp.’s recent additions to its industrial portfolio is this 112,000-square-foot facility in Redondo Beach, Calif., which it acquired last year for $45.7 million. Image courtesy of CommercialEdge Terreno Realty Corp. has completed Countyline Corporate Park Phase IV Building 40, a 186,000-square-foot facility in Hialeah, Fla., a Miami submarket. The owner expects its […]

ESRT owns the Empire State Building since 2013. Image courtesy of Empire State Realty Trust Empire State Realty Trust has signed a 40,679-square-foot lease at its 2.8 million-square-foot Empire State Building in Midtown Manhattan. Fintech company Pontera Solutions Inc. will relocate from its 10,539-square-foot space at 111 W. 33rd St., a 717,065-square-foot office high-rise in […]

Eli Lilly’s campus at LEAP Research and Innovation District in Lebanon, Ind., will include manufacturing facilities for antidiabetic and weight loss drugs. Rendering courtesy of Eli Lilly and Co. Eli Lilly and Co. has announced an additional $5.3 billion investment at its Lebanon, Ind., manufacturing site, increasing its commitment within the LEAP Research and Innovation […]

The Indianapolis industrial market has been experiencing significant growth, driven by key factors such as e-commerce, logistics demand and corporate relocations. Year-over-year as of March, the metro’s under-construction industrial pipeline grew more than seven times, reaching roughly 4.3 million, according to CommercialEdge information. Simtra BioPharma Solutions is expanding its sterile fill/finish manufacturing campus in Bloomington, […]

Another single tenant is using Building 2, which came online in 2021. Photo courtesy of CommercialEdge Janko Group has signed a full-building, 10-year lease at its Bristol Business Park in Bristol, Wis. ERMCO will fully occupy the 157,043-square-foot Building 4, set to move from its suburban Chicago location this summer, REJournals reported. Cushman & Wakefield […]

QTS Glendale will be constructed according to the firm’s Freedom standard design. Image courtesy of QTS Realty Trust QTS Realty Trust is expanding its presence in metro Phoenix. Plans call for a 3 million-square-foot data center campus in Glendale, Ariz., called QTS PHX 3, that could include 16 buildings of approximately 180,000 square feet each. […]

The almost 1.4 million-square-foot facility features 136 dock-high loading doors, 141 trailer stalls and around 500 car parking spots. Image courtesy of Avison Young LM Real Estate Partners has acquired 1900 Continental Blvd., an almost 1.4 million-square-foot industrial facility in Charlotte, N.C., for $97 million. The firm financed the purchase with a $67 million loan […]

A rendering of Park Algodon. Image courtesy of Creation and Clarion Partners A joint venture of Creation and Clarion Partners has broken ground on the first phase of a $250 million industrial and mixed-use campus in Phoenix. Upon completion, Park Algodon, a two-phase project, is set to total some 1.3 million square feet. The first […]

East Bay Logistics will use the space for the distribution of coffee, sugar and cocoa products for California markets. Image courtesy of CommercialEdge Prologis has signed a lease extension at its 228,256-square-foot logistics facility in Sumner, Wash., near the Port of Tacoma. East Bay Logistics will continue to use the entire facility as its distribution […]

The 1961-completed building underwent major renovations in 2008. Image courtesy of Waterman Interests Waterman Interests has entered a partnership with HPS Investment Partners to redevelop 850 Third Ave., a 21-story, 605,000-square-foot office tower in Manhattan. Project costs were estimated at $62.8 million in January. The property’s improvements will contribute to attracting leases with high-growth tenants […]

The anticipated wave of office distress hasn’t fully materialized, but the latest CommercialEdge office report indicates many markets are at risk. Vacancy rates have surged as companies downsize or close physical offices. Image by Jeremy Poland/iStockphoto.com Debt service coverage ratios (DSCRs), measuring net operating income against debt obligations, have declined due to rising interest rates […]

It’s an election year, but that isn’t the only thing coming out of D.C. those in commercial real estate should be watching out for. The CPE Executive shares the initiatives effecting the industry that they’re keeping an eye on. Josh Poag Shopping Around The most important legislative issue for the shopping center industry is Organized […]

Will Frame Susan Bloomfield and Ross Ford Whether or not artificial intelligence will make sweeping changes to the brokerage industry is not up for debate. Yet where and how these new technologies will make an impact is. Without a crystal ball, its hard to predict which aspects of the business will be most influenced, but […]

Greenfield 27 consists of three Class A industrial facilities. Image courtesy of Cushman & Wakefield Wigeon Capital has sold Greenfield 27, a three-building, 260,000-square-foot Class A industrial park in Garner, N.C., within the South Raleigh submarket, for a combined $47.3 million. Cushman & Wakefield and NAI Tri Properties negotiated the deal on behalf of the […]

The Miami office market continued to perform well through the first three months of the year, with sales volume increasing, in comparison with the same period last year. The metro’s development pipeline is in line with the national trend of lowered demand in office space. 830 Brickell is expected to come online in September 2024. […]

Discovery Corporate Center’s Building D comprises 84,277 square feet. Image courtesy of Drawbridge Realty Drawbridge Realty has signed a 16,485-square-foot expansion with Leonardo DRS Inc. at Discovery Corporate Center, a three-building, 228,895-square-foot Class A office campus in San Diego’s Rancho Bernardo submarket. The tenant, an Italian-owned supplier of integrated products and services for military forces […]

Orr Road Business Center will include two buildings. Image courtesy of Lovett Industrial Lovett Industrial has broken ground on Orr Road Business Center, an urban infill 282,000-square-foot industrial business park in Charlotte, N.C. Edifice serves as the project’s general contractor, with Merriman Schmitt Architects having provided design services. Oak Engineering is the civil engineer and […]

Nicco Lupo Institutional capital flows (or lack thereof) have been a quiet driver for a dislocated transaction market during the past 18 months. As a result, private capital has filled the void in the risk tranche typically occupied by insurance companies, domestic and foreign pensions, ODCE funds and core+ evergreen capital. Billionaires, family offices and […]

The data center industry is capital-intensive, and liquidity is as critical to supply chains as technologies such as generators and transformers, said Brewer. Image courtesy of EdgeCore What was once a niche real estate sector is now attracting billions from the largest names in the industry. And with the rapid expansion of the data center […]

Managing cold storage facilities, such as this one operated by BLT, calls for heightened attention to maintenance. Photo courtesy of BLT Enterprises Over the past several years, cold storage has become an increasingly heated industrial specialty. According to Grand View Research, the climate-controlled storage sector, worth $36.9 billion as of 2023, is expected to grow […]

Rockefeller Group Logistics Center at Carneys Point will consist of two Class A industrial facilities. Image courtesy of Rockefeller Group Rockefeller Group has started construction on Rockefeller Group Logistics Center at Carneys Point, a two-building, more than 1.1 million-square-foot campus in Carneys Point, N.J. This marks the company’s second industrial project in Southern Jersey, following […]

The survey’s Composite Sentiment Index Scores, at the highest average in two years. Chart courtesy of NAIOP A majority of respondents to NAIOP’s latest CRE Sentiment Index survey predict that conditions across commercial real estate demand, investment and development are likely to improve over the next 12 months. The Index’s final score for the study, […]

SL Industrial Partners broke ground on Interstate Crossroads Logistics Center in 2021. Image courtesy of CBRE In its first South Florida contract, BroadRange Logistics has signed a 1 million-square-foot industrial lease in Fort Pierce, Fla. The ultra-flex 3PL firm will occupy the entire Interstate Crossroads Logistics Center late this year. The deal marks the largest […]

Park Center’s fourth phase will feature a 175-key hotel, 300 residential units, 22,000 square feet of retail and 300,000 square feet of office space across two connected towers. Image courtesy of Cooper Carry A decade after developer KDC began construction on Park Center, a transit-oriented master-planned Class A office development in Atlanta’s Dunwoody, Ga., submarket, […]

The 216-acre property also features an ancillary warehouse, distribution center, office space and cafeterias, as well as a showroom. Image courtesy of Kohler Co. Kohler Co. has officially opened its almost 1 million-square-foot manufacturing facility in Casa Grande, Ariz., a Phoenix submarket. The kitchen and bath product firm partnered with general contractor Mortenson Co. and […]

The 3351 E. Philadelphia St. property in Ontario, Calif., is a food-grade warehouse completed in 1998. Image courtesy of CommercialEdge San Francisco–based Stockbridge has purchased a two-property, 540,478-square-foot Class A industrial portfolio in Southern California’s Inland Empire from Principal Asset Management for $142.3 million. Cushman & Wakefield advised on the transaction and sourced the acquisition […]

BSN Medical Distribution Facility was originally built in 2001 and upgraded in 2009. Image courtesy of JLL Diamond Properties has acquired BSN Medical Distribution Facility, a fully leased industrial property totaling 149,987 square feet in Conover, N.C. JLL negotiated on behalf of the seller, Founders Properties, also procuring the buyer. The property traded for $10.3 […]

Jonathan Hipp Commercial real estate has been in tight circumstances since interest rates started jumping more than a year ago. After 15 years of dovish monetary policy, the abrupt change left many in CRE dazed and panicked. Many have been trying to hang on, waiting for rates to fall. Recent news suggests that likely won’t […]

Another sector is turning a corner. Life science demand was up 6.3 percent across the U.S. in the first quarter. In the Bay Area, Boston and San Diego, however, growth hit an impressive 30 percent, according to a new JLL report. Signs are pointing to a resurgence, and there are reasons to be optimistic about […]

A new survey from JLL examines, among other issues, the struggle for tech talent, how companies are working to optimize their spaces and the role of venture capital, across 17 U.S. metros, plus Vancouver and Toronto. JLL’s markets perspective on the technology industry report is being released today. John Leddy, managing director with JLL’s Technology […]

Urban District 35 consists of four Class A buildings ranging between 77,830 and 134,887 square feet. Image courtesy of Urban Logistics Realty Urban Logistics Realty has sold Urban District 35, a 440,663-square-foot industrial park in Denton, Texas, a Dallas submarket. High Street Logistics Properties purchased the four-building asset by using an acquisition loan from The […]

Forward-looking indicators favor prime and alternative assets, according to Parsons. Image courtesy of RICS Commercial real estate sentiment across the globe is gradually recovering, according to the most recent Global Commercial Property Monitor survey released by the Royal Institution of Royal Surveyors in London. Responses from CRE occupiers and investors from all over the world […]

5355 Medpace Way will be demolished and replaced by a nine-story office tower. Photo courtesy of CommercialEdge Medpace, a publicly traded clinical research company, is moving forward with a two-building 654,000-square-foot expansion of its corporate campus in Madisonville, Ohio. According the Cincinnati Business Courier, the $327 million project recently secured several incentives from both the […]

The outpatient facility was fully occupied at the time of the sale. Image courtesy of Anchor Health Properties Anchor Health Properties, in partnership with BGO, has acquired a 70,418-square-foot medical office building in Sarasota, Fla. Casto sold the asset for $31.8 million, according to Sarasota County records. The purchase was made through a programmatic acquisitions […]

A total of 18 tenants lease space across the eight buildings, the portfolio being 91 percent occupied at the time of sale. Image courtesy of CBRE A joint venture of Redfearn Capital and TPG Angelo Gordon has purchased a 380,589-square-foot industrial portfolio in Jacksonville, Fla. Somerset Properties and CenterSquare Investment Management sold the eight buildings […]

The tower rises in South End close to a plethora of dining facilities. Image courtesy of Stiles The joint venture between Stiles and Shorenstein Properties has opened 110 East, a 23-story, 370,000-square-foot Class A office building in Charlotte, N.C. Hastings Architecture designed the $186 million development, while Shelco served as general contractor. The partnership broke […]

Cummins Inc., a Columbus, Ind.,-based global power solutions company, has leased a 1.1 million-square-foot recently built Class A building at Mohr Logistics Park, a 475-acre industrial campus developed by Mohr Capital in suburban Indianapolis. Cummins is leasing Building 6 at the 475-acre Mohr Logistics Park in Whiteland, Ind. Image courtesy of Mohr Capital The company’s […]

Supply chain issues from 2021-2022 have eased, but recent incidents in Baltimore and the Panama Canal underline ongoing challenges, according to the latest CommercialEdge report. Massive influx in new supply between 2022-2023 coincided with a slowdown in e-commerce growth. Image courtesy of Travel mania via shutterstock.com The collapse of the Francis Scott Key Bridge will […]

AZ Development-owned 111 Bain St. houses one of the two coworking locations. Image courtesy of CommercialEdge THRIVE | Coworking has acquired transform GSO, an independent flexible office provider with two coworking locations in Greensboro, N.C. Originally known as HQ Greensboro, the company rebranded in 2020. Following the merger, the locations will be renamed as transform […]

What does the second half of the year hold for CRE? At a time of mixed signals from the economy and the industry, CPE is bringing together a broad spectrum of industry leaders to share their insights. Join Jeb Belford, Managing Director & CIO at Clarion Partners; Jeff DeBoer, Founding President & CEO at The […]

CRE leaders discuss industry issues at DLA Piper’s 2024 Global Real Estate Summit at the Ritz-Carlton Hote in downtown Chicago. Photo: Eva Ho Photography The tone was both guarded and hopeful as industry leaders took stock of the real estate landscape at DLA Piper’s 18th Global Real Estate Summit, “Rebounding Into the Future” in downtown […]

The 220,380-square-foot property features 14 dock-high loading doors and 11 drive-in doors, as well as 130-foot truck courts. Image courtesy of JLL Faropoint has purchased 4600-4680 Lewis Road, a 220,380-square-foot, three-building campus in Stone Mountain, Ga. The company now has more than 2 million square feet of industrial space in the Atlanta market, according to […]

The Shops at Fairway Village. Image by Design Collective, courtesy of MCB Real Estate A joint venture between MCB Real Estate and Generation Properties has broken ground on The Shops at Fairway Village, a $115 million mixed-use project in Waldorf, Md., near Washington, D.C. Upon its expected completion in Spring 2026, the property will comprise 120,000 square feet of grocery, restaurant […]

Engaging with tenants about sustainability and energy efficiency is becoming a key priority in the commercial real estate sector, reflecting a broader shift toward environmental responsibility and responding to the evolving expectations of investors and tenants. Strategies for effective tenant engagement can lead to more sustainable and energy-efficient buildings, offering mutual benefits for both tenants […]

Gayton Crossing is in one of the most densely populated areas in Henrico County. Image courtesy of Continental Realty Corp. In its first Virginia purchase, Continental Realty Corp. has acquired Gayton Crossing, a 160,830-square-foot neighborhood shopping center in Richmond, through its Continental Realty Opportunistic Retail Fund I LP. ShopCore sold the asset for $22 million, according […]

It’s probably not you. Cellular coverage and Wi-Fi in office buildings are in high demand, and that could be impacting the quality of your phone calls, video calls and document transmissions. Jason Lund, JLL Deep shifts are underway in how workers use tech, so telecommunications infrastructures within buildings and cities—cellular networks, fiber and cable networks, […]

The 410 has nearly 35,000 square feet of spec suites ready for immediate occupancy. Image courtesy of Cress Capital Cress Capital has acquired The 410, a 24-story Class A office building in downtown Denver. In collaboration with Denver-based E2M Ventures, Cress had acquired the loan on the 440,000-square-foot building earlier this year and later negotiated […]

The other day, I had a discussion with leaders from one of our clients, and we had a good laugh about technology hype cycles. Those cycles are often reflected (hopefully not amplified) in this column, as I aim to shed light or add perspective on topics that are top of mind for our clients. Certainly […]

Offices have evolved into much more than cubicles and coffee machines. Today, owners, and designers are pushing the envelope on what it means to come the office, and increasingly work needs to feel like home.   “We believe that offices are for living,” said Ankur Patel, associate director of architecture and design, Sage Realty Corp. […]

Jessica Fiur, Editor-in-Chief I used to be so jealous of my brother. He works in tech—app development, to be exact. And he used to delight in telling me (bragging) about all the cool stuff at his office. There were foosball tables. All sorts of free snacks. A kegerator. Did I mention free snacks? Then, of […]

The I-215 Interchange, in Las Vegas, Nev. Image courtesy of Cushman & Wakefield Building E, The Cubes at Glendale, in Glendale, Ariz. Image courtesy of Cushman & Wakefield 8123 South Hardy, Fundrise Tempe Commerce Park, in Tempe, Ariz. Image courtesy of Cushman & Wakefield 4653 Nall Road in Farmers Branch, Texas. Image courtesy of Cushman […]

1899 L St. NW. The new owner plans to further renovate the building’s amenities and infrastructure. Image courtesy of Stream Realty Partners Arlington, Va.,-based Taicoon Property Partners has acquired a 12-story, 152,000-square-foot office building at 1899 L St. NW in Washington, D.C.’s Central Business District for approximately $26.7 million and is planning to renovate the […]

The Cochrane Technology Center, now the largest development of its kind in Silicon Valley. Photo courtesy of Trammell Crow Co. A joint venture between Trammell Crow Co. and CBRE Investment Management has completed construction of Cochrane Technology Center, a five-building, 500,000-square-foot speculative industrial campus located in Morgan Hill Calif., in the southern portion of Silicon […]

The May Digital Issue of CPE Is Now Available! From the Editor Feature. Image courtesy of Current Real Estate Advisors. Retail. Image courtesy of Restoration Hardware Modernization. Image by D3Damon/iStockphoto.com CDO Stack. Image by NatalyaBurova/iStockphoto.com Economist’s View. Image by ferrantraite/iStockphoto.com Transactions. Image courtesy of BKM Capital Partners READ THE DIGEST VERSION Editor’s NoteWhat Office Tenants […]

Dalfen Industrial’s purchase in Hayward, Calif. Image courtesy of Dalfen Industrial Dalfen Industrial has acquired five industrial outdoor storage sites on the West Coast. Two of the purchased properties are in San Francisco’s East Bay, two are in metro Seattle and one is located in Southern California. Richard Weiss, Dalfen Industrial’s regional senior vice president, […]

Nearly three decades after the advent of online shopping, the post-pandemic work landscape has accelerated long-underway changes in retail. Responding to pressure from shifting consumer trends, as well as dramatically reduced daytime population in city centers, the sector is trending toward smaller storefronts, while adjustments in storage, logistics and fulfillment are impacting the industrial sector. […]

Demetri Koston This is a difficult cycle. The steep series of rate increases in a relatively short span of time with continued volatility and upward pressures has put a strain on plans for most commercial real estate asset sponsors—a strain not felt for over a decade. Now, we are two years into this new reality. […]

Building One of Goodman Commerce Center Long Beach, being built at the site of a former Boeing C-17 factory. Image courtesy of Goodman Group Goodman Group has begun construction of Building One of Goodman Commerce Center Long Beach, a 505,043-square-foot industrial building located in Long Beach, Calif. The project, scheduled for delivery in the fourth […]

A new office tower will rise in Water Street Tampa. Image courtesy of Strategic Property Partners Strategic Property Partners has unveiled the expansion plans for Water Street Tampa. The 56-acre walkable live-work-play neighborhood under development in downtown Tampa, Fla., will feature a build-to-suit office tower, together with a condominium high-rise and a mixed-use entertainment center […]

AI is everywhere nowadays. But do you know how you can incorporate it into your commercial real estate business? The CPE Executive Council shares how they’ve started using it. Ryan Severino Model Behavior We are the most advanced users of data science (i.e., artificial intelligence, machine learning) in the CRE investment industry. We have a […]

Developers broke ground on the 140,000-square-foot manufacturing facility in 2022. Image courtesy of Hughes Network Systems Hughes Network System, an EchoStar company, has opened EXM, a 140,000-square-foot manufacturing facility in Germantown, Md. The building will also serve as a private 5G incubation center. EXM is the first such facility in the U.S. to open on […]

The building at 1520 First Ave. rises 30 stories or 449 feet. Rendering courtesy of Lendlease The joint venture of Lendlease and Extell Development Co. has topped out 1520 First Ave., a 400,000-square-foot medical office building in Manhattan. The 30-story tower is slated for completion in 2025. Perkins Eastman designed the project and WSP serves […]

Wilks Development is set to break ground this month on the $550 million first phase of Firefly Park, a 242-acre mixed-use master-planned community in Frisco, Texas. Construction on Phase One is expected to be completed by mid-2027. A rendering of the town square planned for Firefly Park in Frisco, Texas. Image courtesy of Wilks Development […]

Lionstone Investments has sold Muse Shops at Midtown, a 112,162-square-foot value-add retail center located in Dallas. Morgan Stanley purchased the recently redeveloped asset, according to public records. JLL Capital Markets brokered the transaction on behalf of the seller. Muse Shops at Midtown underwent cosmetic renovations in 2022. Image courtesy of JLL Capital Markets The property […]