Array New Office Demand Slips for Third Consecutive Month National + Office | September 30, 2022 NMHC Survey Finds Construction Delays and Higher Costs Persist National + Apartments | September 29, 2022 Prologis Closes $23B Deal for Duke Realty National + Industrial | October 3, 2022 FEATURED STORY National CRE News In Your Inbox. Sign up for Connect emails to stay informed with CRE stories that are 150 words or less. More National Stories More Stories Hone your competitive edge today with Connect Classroom, an accredited online Continuing Education provider offering CRE focused courses you can take on demand. Earn the credit you need with engaging, thoughtfully designed courses for commercial real estate brokers, appraisers, lenders, architects, and lawyers from a news source you already know and trust. 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A collaborative approach brings out your company’s stories that are shaped and crafted with the perfect visual, the right words and in the most dynamic way. Connect with Creative Latest Atlanta & Southeast Stories CBRE Investment Management Fund Purchases Class A Life Sciences Campus in Durham Atlanta & Southeast + Carolinas + Office | October 3, 2022 CBRE Investment Management has acquired Park Point, a 662,607-square-foot life sciences campus in the Durham submarket of Morrisville, NC. Located at 4001 NC Highway 54 within the Raleigh-Durham Research Triangle, the Class A property is aligned with the firm’s commitment to investing in life sciences assets as the demand for modern, responsive life sciences properties … Trion Properties Spends $34M on 159-Unit Apartment Community in Pooler Atlanta & Southeast + Southeast + Apartments | October 3, 2022 Trion Properties has completed its $34-million acquisition of Pooler Station, a 159-unit garden-style apartment community located in the Savannah submarket of Pooler, GA. The 2006- and 2017-constructed property is situatied at 100 Oglethorpe Drive on 9.73 acres near major thoroughfares to offer high connectivity to restaurants, retail and major employment opportunities. Tyler Hogan of Capstone … Latest Boston & New England Stories CRG Starts Construction on $100M, 1M-SF Industrial Facility in Douglas Boston & New England + New England + Industrial | October 3, 2022 CRG has broken ground on The Cubes at Gilboa, a 1.1-million-square-foot distribution facility being built on 83.8 acres at 123 Gilboa Street in Douglas, MA. The project is expected to cost more than $100 million and to create approximately 450 permanent jobs. From its location just off Route 146, with proximity to the Massachusetts Turnpike … Marcus & Millichap Capital Corporation Arrange $3M Buy Loan for New London Office Boston & New England + New England + Office | October 3, 2022 Marcus & Millichap Capital Corporation has arranged a $3.3-million acquisition loan for the purchase of 400 Bayonet Street, a Class-A multi-tenant office building located in New London, CT. Robert Damigella with MMCC secured a 10-year fixed loan with a 4.75% interest rate, 30-year amortization and a 75% LTV on behalf of the borrower. The 1987-constructed, … Connect TeamDaniel CenicerosCEOJosh OrensteinVice President, News & MediaSarah QuinnVice PresidentView AllOur ValuesWe understand that we have different backgrounds, ethnicities, experiences, and geographies, and these differences are what make us unique and bring a variety of perspectives that will shine through.Minority SplitGender SplitLearn More Latest California Stories GI Partners Pays $388M for Trio of Peninsula Life Science Assets California + Bay Area + Healthcare | October 3, 2022 GI Partners continues its strategy of acquiring and managing tech and science real estate, purchasing a portfolio of three life sciences lab buildings in South San Francisco and San Carlos, CA. The company purchased the “Peninsula Lab Collection” from Alexandria Real Estate for a combined total of $388 million. “The Peninsula Lab Collection offers a … Sullivan’s, OfficeUntitled Planning Major Hollywood Development California + Los Angeles + Apartments | October 3, 2022 The Toyota of Hollywood dealership at 6000 Hollywood Boulevard may become a major mixed-use development, according to a proposal from the owner of the site, the Sullivan family. The plan includes a 35-story residential tower, a six-story office building and a collection of townhomes near the Hollywood Walk of Fame. Forty-four of the proposed 350 … Latest Chicago & Midwest Stories LanzaTech Partners with Brookfield Renewable on $500M Development Deal Chicago & Midwest + Downtown + Industrial | October 3, 2022 Chicago-based LanzaTech NZ, Inc. has formed a funding partnership with Brookfield Renewable, and its institutional partners, to co-develop and build new commercial-scale production plants that will employ LanzaTech’s CCT (Carbon Capture and Transformation) technology. The funding partnership commits an initial $500 million to be invested by Brookfield Renewable in constructing and operating new CCT projects … Highland Real Estate Closes on Discretionary Fund for Multifamily Chicago & Midwest + North Side + Finance | October 3, 2022 Private real estate investment manager Highland Real Estate Partners has closed on Highland Multifamily Opportunities, the firm’s debut discretionary investment fund. Highland Multifamily Opportunities raised $44 million, which surpasses its initial $35-million target and grows Highland’s equity capital under management to $65 million. Highland Real Estate Partners has already begun constructing the fund’s portfolio, with … Latest Florida & Gulf Coast Stories Marina Club Apartments Hands Skanska $111M to Build Mixed-Use in St. Petersburg Florida & Gulf Coast + Central Florida + Apartments | October 3, 2022 Skanska has signed a contract with Marina Club Apartments LLC to build a mixed-use building in St. Petersburg, FL. The contract is worth $111 million. The multifamily-led project will consist of an eight-story pre-cast building totaling 610,000 square feet with first-floor retail space overlooking Boca Ceiga Bay. The project includes construction of a new 400-unit … Alluvium Partners to Bring $42M “Horizontal Multifamily Community” to Jacksonville Florida & Gulf Coast + North Florida + Apartments | October 3, 2022 Alluvium Partners, LLC, has borrowed $42 million in construction financing for Cottage Street at eTown, the first “horizontal multifamily” community to be built in the south side of Jacksonville, FL. Horizontal multifamily is defined as a community of dense single-family detached units that share similarities with traditional multifamily in terms of unit sizes, unit types … Latest Global Stories Flexible Office Gains Stature in Workplace Strategy National + Global + Office | September 16, 2022 A global survey by Cushman & Wakefield and WeWork found growing demand for flexible office space. The data and perspectives provided by the survey suggest that flexible office options can be a valuable component of a diverse office workplace ecosystem, providing employees the workplace flexibility they now demand. Among the 800 WeWork users surveyed, 40% … Cain International Leads $900M Investment in Luxury Hotelier Aman Group Global + Hospitality | August 17, 2022 Privately held investment firm Cain International and The Public Investment Fund have made a $900-million investment into Aman Group to support the brand’s global expansion of ultra- luxury hotels and branded residences. The transaction values Aman Group at US$3 billion. Aman Group comprises a collection of 34 hotels across 20 countries, 12 of which include Aman Branded … Latest Lenders Stories Latest National Stories Prologis Closes $23B Deal for Duke Realty National + Industrial | October 3, 2022 Prologis, Inc. has completed its all-stock acquisition of Duke Realty Corporation following last week’s approvals by shareholders of both industrial real estate REITs. Valued at approximately $23 billion, including the assumption of debt, the acquisition expands Prologis’ presence in key U.S. markets. “In addition to the day-one accretion and avenues for further earnings growth, this … New Office Demand Slips for Third Consecutive Month National + Office | September 30, 2022 New demand for office space fell for the third consecutive month in August, sinking below half of its average pre-pandemic pace, according to the latest VTS Office Demand Index analysis. The national VODI fell by six VODI points, or 11.5%, from 52 in July to 46 in August, its lowest level since February 2021. Year-over-year, it’s down 47.1%. … Latest New York & Tri-State Stories Zero Irving Will House 85K-SF Tech Training Center New York & Tri-State + Downtown New York + Office | October 3, 2022 RAL Development Services and The Fedcap Group finalized a 25-year lease agreement to house Civic Hall @ Union Square in RAL’s new Zero Irving development at 124 E. 14th St. in Union Square. The Fedcap Group’s Civic Hall @ Union Square will occupy 85,000 square feet on six floors and include a digital workforce training … Convene to Open Ultra-Premium Meetings Venue in Midtown New York & Tri-State + Midtown New York + Hospitality | October 3, 2022 Latest Phoenix & Southwest Stories Three Hotels Planned for Phoenix-Area Sports Park Phoenix & Southwest + Phoenix + Hospitality | October 3, 2022 A developer has submitted plans to the city of Mesa to build a hospitality campus to include three separate hotels to support Bell Bank Park in southeast Mesa. Bell Bank Park is a 320 acre facility that hosts youth, adult, and amateur sports teams and serves as a venue for events, concerts, youth sports tournaments, and fitness … Utah Resort Receives Record C-PACE Financing Phoenix & Southwest + Southwest + Hospitality | October 3, 2022 Petros PACE Finance (Petros), closed on a record $153 million C-PACE financing as part of the $820 million, 580-acre development, Black Desert Resort Project in Ivins, Utah. Located near Zion National Park, Phase 1 of Black Desert Resort will include a luxury resort hotel, approximately 1,000 condos, 190,000 square feet of retail, restaurants, and commercial space, 25,000 square feet of event … Latest Seattle & Northwest Stories Redmond Apartment Complex Trades for $79M Seattle & Northwest + Seattle + Apartments | October 3, 2022 A Bay Area LLC, part of Pacific Multifamily Investors, has purchased Skyline Redmond Apartments, a 192-unit multifamily property on Old Redmond Road in Redmond, WA. Redmond Place LP, associated with Bay Area investment group Gerson Bakar, sold the community for $79 million. According to the Seattle Daily Journal of Commerce, the deal was worth about … TMR Acquires Spokane-Area Multifamily Property Seattle & Northwest + Washington + Apartments | October 3, 2022 Thayer Manca Residential (TMR) has expanded its Washington portfolio, purchasing Big Trout Lodge, a 297-unit apartment complex in Lake Liberty, WA. The community is the Seattle-based firm’s third acquisition in Washington in the last four months. “It’s been quite a year for our company,” said TMR Principal Joe Manca. “Our conservative and patient approach to … Latest Texas Stories ITS Logistics Rents Million+ SF Facility in DFW Texas + Dallas-Fort Worth + Industrial | October 3, 2022 It won’t be completed until next summer, but a 1,045,889-square-foot distribution facility at Northpoint Development’s Intermodal Logistics Center has its tenant, ITS Logistics (ITS). A group from Cresa arranged the lease. The facility, which broke ground in August, will serve as ITS’s first Texas location and support the company’s efforts to offer national omnichannel distribution … Former San Antonio AFB Site for Two Mid-Rise Office Buildings Texas + San Antonio + Office | October 3, 2022 The former Brooks Air Force base will be the site for for two new class A offices. A partnership between Houston-based Cambridge Development Group and Dallas-based Preston Hollow Community Capital has started work on a 200,000-square-foot office project in San Antonio. “Until now there has been a missing piece in the jewel that is Brooks, … Latest Washington DC Stories Northmarq Brings About Multifamily Development with $30M Build Loan Washington DC + DC Metro + Apartments | October 3, 2022 Northmarq has completed a $29.8-million construction loan for a multifamily development to be located on a 122,464-square-foot plot at 103 East 2nd Street in Richmond, VA. Mike Lowry, Keith Wells, Reina Mazicioglu, and Hunter Wood of Northmarq arranged the permanent-fixed loan structured on a five-year term with three years interest only followed by a 30-year … Goodwill Industries of Chesapeake Signs for New HQ Space in Baltimore Washington DC + Baltimore + Office | October 3, 2022 Goodwill Industries of the Chesapeake, Inc. has selected Baltimore Gateway, a five-story, 100,000-square-foot commercial office building located at 3700 Koppers Street in Baltimore, MD as its new headquarters. The nonprofit signed a lease with St. John Properties, Inc., for 14,662 square feet of space. Michael Tait of St. John Properties represented the landlord, and the …
