Commercial

Three articles to pay attention to on your Halloween afternoon.

Condo developer takes over Seattle’s long-stalled $400M Civic Square project

Bosa Development submitted a $22 million deal to take over development on Seattle’s Civic Square. The project has been in development for nine years and has suffered from a number of setbacks and slowdowns.

HOK: Coworking trend picking up steam in commercial real estate

Millennials are pushing commercial real estate spaces in new directions. Young employees prefer coworking environments, despite the style making up less than 1% of commercial real estate.

There are 5.6 million cheap apartments in America. Not for long

Investors extensively renovating old apartment units are driving up the cost of, what what previously, affordable housing. Unlike subsidized housing, there are fewer obstacles for developers renovating their outdated properties and driving the prices out of the range of low-income earners.

Enjoy these 4 articles on the big happenings in commercial real estate, then enjoy your weekend!

NREI/Marcus & Millichap Investor Sentiment Finds Post-Peak Stability

The results of the most recent NREI / Marcus & Millichap Investor Sentiment Survey show a balanced view on the market. After peaking at 187 in 2014, the survey has leveled out at 162.

New Buildings, Upgrades Planned for South Sac Retail Center

It’s about time. Florin West, a 1960s era shopping center near South Sacremento, has submitted a proposal to upgrade. The plans for the surrounding land include a new multi-tenant building and a restaurant.

The List: Multi-tenant Office Buildings

South Florida Business Journal has released their list of the Top 5 Multi-tenant Office Buildings. The Southeast Financial Center ranked #1.

Westside Provisions Sells for Close to $130M to Jamestown, Clarion

The Westside Provisions District in Atlanta, which has seen extensive redevelopment into restaurants, lofts and offices, has sold for $130 million, according to inside sources. Jamestown L.P. and Clarion Partners LLC came together in a joint venture for the deal.

Start strong in the second-half of your Thursday with these three articles.

Cash-strapped Archdiocese sees high-rise towers for Cathedral campus

The Archdiocese of Philadelphia had a vision—and it involves hundreds of new buildings around its central cathedral. Many churches are suffering from financial woes and are looking to real estate to provide some relief from the dropping attendance rates.

Cushman & Wakefield shakes up US leadership

Cushman and Wakefield, one of the largest commercial real estate firms in the world, has made a big swap in its upper-management. Global president Tod Lickerman will become Americas CEO, while Joe Stettinius will move to oversee brokerage and capital markets in the US.

Chicago developer puts big downtown Phoenix parcel up for sale

Speaking of Cushman and Wakefield, they’ve been tapped by a Chicago developer to sell a large parcel of land in downtown Phoenix.

Catch up on commercial real estate’s most exciting stories today with these 4 articles.

Asian home goods emporium Pearl River Mart is making a comeback

The famous Pearl River Mart will not stay down. After being forced to close its SoHo doors last year due to rising rents, it is set to reopen at a new, smaller location in Tribeca.

Game-changers: 40 projects that are transforming metro Birmingham

There’s lots of investment opportunities in the city of Birmingham. This article collects 40 of the most exciting.

Construction update: Here’s what’s happening with this I-Drive hotel and a sales rumor

The Hyatt House under construction on International Drive in Orlanda is on track to open in June of 2017. There’s been gossip the property is for sale, but Scott Marchand of Whitestone Realty said the company plans on holding the property for at least five years.

Non-Traded REITs work to appeal to investors

Get a global view on commercial real estate this afternoon with these three articles.

Does Modular Construction Work?

Miami Among Top U.S. Metros for Asian Real Estate Investment

Miami ranks #4 in the list of United State cities benefiting from Chinese investment – having received approximately $665 million this year.  Still Hunter III, executive VP with CBRE Capital Markets, said the city is popular for overseas investors due to “supply constraints, consistent population growth, an expanding and diversifying economy and growing international recognition as a true global gateway market.”

Find out what you missed over the weekend with these two articles.

Fewer Hotel Sales Being Completed in 2016 than Last Year

The commercial real estate market of large European cities is beginning to slow down after years of growth, but there are more investment opportunities to be found in countries with smaller economies.

The weekend is here! But first, your daily commercial real estate news and updates.

Retail Industry Has Modest Expectations for Black Friday 2016

Retailers are keeping expectations low for Black Friday 2016. Malls are experimenting with a number of different experiences they hope will draw in shoppers and families for the holidays.

U.S. Mall Investors Set to Lose Billions as Retail Gloom Deepens

The massive shift to online shopping that has crushed retail sales over the last decade is about to punish investors who put money into malls. Many loans that went into financing mall construction are set to refinance next year – causing a headache for investors of the struggling retail emporiums.

Low-rise? Mid-rise? Mixed-use? Your Guide to Jargon in a City of Cranes

Commercial Real Estate Report Shines a Light on Downtown Louisville

Despite a small upcoming spike in vacancy rates, downtown Louisville is poised for a positive future. Well-researched investors continue to pour money into recreational buildings and hotels.

Berkshire Group Backs Boston Commercial Real Estate Developer Leggat McCall

The Berkshire Group has invested an undisclosed amount into commercial real estate developer Leggat McCall. “We believe that Greater Boston will continue to be an attractive market for real estate investment given its position as a world leader in higher education, healthcare, life sciences and high tech,” a spokesman for the Berkshire Group said.

Five articles this morning to help put a boost into your day.

Commercial Real Estate Market in Southern Nevada Making Progress, With Lagging Office Market Starting to Bounce Back

Good news for investors living near Las Vegas. After the recession, commercial real estate has been on a steady recovery, but office buildings have lagged behind. A new reports suggest that’s about to change though, as a tremendous amount of office space was sold in the last quarter.

More Pension Fund Money Flowing to Commercial Real Estate

Five Ways to Protect Your Investment and Survive Multiple Economic Cycles

A strong list covering how to protect investments through the long-term. Tips includes setting reasonable expectations and avoiding over-leveraging.

A New Real-Estate War in Silicon Valley

Silicon Valley continues to experience growing pains. This November, smaller suburbs will vote on rent control, to the ire of real estate agents and landlord associations.

Developer Sees Trouble for Property in Perth

Nigel Satterley, an Australian property developer predicts Perth’s real estate market will suffer in the back-half of this decade. Perth’s reliance on it’s mining industry makes it a “a one-trick pony and, of course, that’s finished, and we are struggling.”

Your investing and brokering news for the day.

Condos, Land and Square Footage Change Hands

A list of recent, notable commercial real estate transactions.

Commercial Real Estate, by the Numbers

Crain’s has published their annual list of the largest real estate brokers in the Chicago area. CBRE Inc. took the top spot with nearly $7 billion in sales and lease transactions.

Commercial Brokerages Still Hot Commodities in South Florida

Large brokers are buying up smaller, boutique firms in South Florida. The trend is attributed to the growing commercial real estate market in the area.