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Commercial Real Estate News for Wednesday, Jan. 11

Lots of news in the commercial real estate world today. Find out about it all with these four articles detailing CBRE’s acquisition of Floored, the heightened apartment activity in Orange County, the home of George Lucas’ museum, and trends in foreign investments.

CBRE Acquires Floored: Real Estate Tech Poised For A Big 2017

The largest commercial real estate company in the world has acquired a tech start-up that focuses on interactive 3D imaging. It’s likely CBRE will use Floored’s technology to present clients with highly detailed walkthroughs of their proposed projects.

 In 2016, permits for apartments in Orange County were requested at over double the rate they were in 2015. The article goes on to highlight some of the larger apartment projects in the area.

 The Force Is With L.A: Exposition Park Tapped as Home to $1 Billion George Lucas Museum

Los Angeles has been selected over San Francisco and Chicago as the city to host George Lucas’ $1 billion, 275,000-square-foot museum. The project is expected to create thousands of jobs, both in construction and permanently.

Industrial Overtakes Multifamily as Foreign Investors’ Most Preferred Asset Type

Despite the headline, the articles presents a wide overview of foreign investor’s feelings on American commercial real estate. New York and Los Angeles top the list of favorite cities to invest in. Overseas investors are more pessimistic about the future than they were in 2015. And industrial property overtakes Multifamily as their preferred property type.