Array Roundtable Survey Finds CRE Leaders Optimistic About the Future, Less So About the Present National + Finance | August 12, 2022 Trepp Survey Predicts Rise in CRE Distress by End of 2022 National + Distressed Assets | August 15, 2022 REITs Post Record-High FFO, NOI in Second Quarter National + Finance | August 15, 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 Connect CRE & Industry Events Load MoreMore Events Companies achieve great success when aligned around a common goal and brand story. The experts integrated into our team at Connect Creative span every marketing and communications discipline and channel, encompassing skilled graphic designers, public relations leaders, copy writers, content producers, digital wizards, and website developers. 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 QTS Buys $154M of Land in Fayetteville for World’s Largest Data Center Campus Atlanta & Southeast + Atlanta Metro + Industrial | August 15, 2022 Overland Park, KS-based Quality Technology Services has acquired 615 acres in the Atlanta submarket of Fayetteville, GA for $153.8 million (approximately $250,000 per acre). QTS plans to develop the world’s largest multi-tenant data center campus on the property, according to the company. Tim Huffman and Mike Lash of CBRE represented the seller, the Fayette County … First National Realty Partners Adds Inverness Corners to Portfolio of Birmingham Retail Atlanta & Southeast + Southeast + Retail | August 15, 2022 Red Bank, NJ-based First National Realty Partners, LLC, has purchased Inverness Corners, a 242,000-square-foot, grocery-anchored shopping center in Birmingham, AL. Zach Taylor of Marcus & Millichap represented the seller. The transaction marks the company’s third Birmingham-area retail acquisition in five months; FNRP purchased Tannehill Promenade in in February of this year and Brook Highland Plaza … Latest Boston & New England Stories DSF Sells Community in Manchester for New Hampshire Record of $165M Boston & New England + New England + Apartments | August 15, 2022 Boston, MA-based DSF has sold Halstead Manchester, a 640-unit market-rate apartment community in Manchester, NH for $164.6 million. “This sale represents the largest total consideration for a single apartment transaction in the state’s history and marked the successful conclusion of our investment strategy for the asset,” said Josh Solomon, president of the DFS Group. The … Construction Supplier Carpenter & Paterson Expands to 28K SF in North Reading Boston & New England + Metro Boston + Industrial | August 15, 2022 Avison Young’s Boston office has negotiated a transaction for Carpenter & Paterson, Inc., to take 28,800 square feet of industrial space at 35 Concord Street in the Boston submarket of North Reading, MA. The bigger space will act as a logistics hub for wholesale distribution, storage and sales for the construction industry supplier Chris Reilly … Connect TeamMichael ThwaiteChief Technology OfficerSarah QuinnVice PresidentDaniel CenicerosCEOView 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 MG Properties Buys Milpitas Luxury Apartments for $193M California + Bay Area + Apartments | August 15, 2022 Institutional Property Advisors (IPA), a division of Marcus & Millichap has arranged the sale of Eleanor, a newly constructed, 333-unit Class-A multifamily property in Milpitas, CA to San Diego-based MG Properties. The complex includes over 10,000 square feet of retail space and sold for $193 million or $579,580 per unit. IPA’s executive managing director Philip … Newmark Arranges $18M Sale of LA Net-Leased Medical Office California + Los Angeles + Healthcare | August 15, 2022 LaSalle Investment Management has purchased a single-tenant, net-leased medical office building in the Eagle Rock neighborhood of Los Angeles for $18 million. The transaction was arranged by Newmark who represented the seller, Eastern Real Estate LLC and Atlas Capital Group. Located at 2560 Colorado Blvd., the 20,000-square-foot building is leased by Adventist Health Glendale as … Latest Chicago & Midwest Stories First Industrial Realty Trust Closes on $300M Term Loan Chicago & Midwest + Downtown + Finance | August 15, 2022 Chicago-based First Industrial Realty Trust, Inc. closed on a new and undrawn $300-million unsecured term loan. The interest-only loan has an initial maturity date of August 12, 2025 with two one-year extension options. The company plans to use the proceeds for general business purposes, including the acquisition and development of property. U.S. Bank National Association, … Proptech Firm Livly Sets Company Record in July Chicago & Midwest + Downtown + Apartments | August 15, 2022 Livly, a resident experience proptech firm headquartered in Chicago’s West Loop, reported record-breaking sales in July 2022 of 22,513 apartment units nationwide, a 70% increase compared with June 2022’s previous all-time high record of more than 13,000 units. The company has continued to build momentum in the multifamily market every month in 2022. Livly said … Latest Florida & Gulf Coast Stories Feil Organization Buys 22-Story Wells Fargo Center in Downtown Tampa Florida & Gulf Coast + Central Florida + Office | August 15, 2022 CBRE has arranged the sale of Wells Fargo Center, a Class A 393,649-square foot office building in Tampa, FL. The buyer is an investor group led by the Feil Organization, a division of which will manage the property. Dale Peterson, Christian Lee, Tom Rappa, Joe Chick and Kristen McFarland Hagen of CBRE represented the seller, … Longpoint Partners Acquires El Paraiso Shopping Center in Hialeah for $43M Florida & Gulf Coast + South Florida + Retail | August 15, 2022 Boston, MA-based Longpoint Partners has acquired El Paraiso Shopping Center, a Sedano’s-anchored shopping center in Hialeah, FL, for $43.3 million. According to Longpoint, the property presented an off-market opportunity for the company to acquire a strategic asset in a sought after-infill market. The center is 98% occupied, anchored by Sedano’s and includes University Healthcare, Regions … Latest Global Stories Q&A with Hines’ Peter Epping on the Company’s New Carbon Commitment National + Global + Office | August 12, 2022 Sustainability has been a watchword for Hines since Gerald Hines founded it in 1957—even if, as the company’s Peter Epping points out, “It wasn’t called sustainability then, or ESG or any other acronym. For him, it was the durability of the buildings and the quality, their longevity and what impact they would have on the … RCA Sees Global Deal Volume and Price Growth Slowing National + Global + Finance | August 12, 2022 The global commercial real estate market reached an inflection point in the second quarter of 2022. MSCI’s Real Capital Analytics reported. Deal activity slowed sharply as interest rate hikes were hiked across the world, even as prices continued to climb. The office, retail and industrial sectors posted a 7% year-over-year drop in deal volume. … Latest Lenders Stories Latest National Stories REITs Post Record-High FFO, NOI in Second Quarter National + Finance | August 15, 2022 REITs posted record-high funds from operations (FFO) as they navigate ongoing interest rate increases and high inflation, according to second-quarter data from the Nareit Total REIT Industry Tracker Series (T-Tracker) report released Monday. The quarterly report also underscores REITs’ recovery from the pandemic, with the new data showing that occupancy rates of total REIT-owned properties … CMBS Delinquencies Decline in July, Offset by Uptick in New Late-Pays National + Distressed Assets | August 15, 2022 Fitch Ratings’ U.S. CMBS delinquency rate fell one basis point to 2.05% in July from 2.06% in June as continued resolutions and steady new issuance were offset by an uptick in new delinquencies. The rating agency said the pace of improvement has slowed relative to prior months as the overall rate inches closer to its pre-pandemic level … Latest New York & Tri-State Stories NYC Housing Development Corp. Leases 109K SF at 120 Broadway New York & Tri-State + Downtown New York + Office | August 15, 2022 The New York City Housing Development Corporation (NYCHDC) signed a long-term lease totaling 109,234 square feet at Silverstein Properties’ 120 Broadway in Lower Manhattan. The city agency is relocating from its current location at 110 William St. a few blocks away. “NYCHDC’s continued commitment to Lower Manhattan is testament to the long-term strength and appeal … RFR Opens $25M Fitness/Conference Space at Seagram Building New York & Tri-State + Midtown New York + Office | August 15, 2022 A $25-million recreation, fitness and conference space named The Playground + Conference Center opened Monday in RFR’s Seagram Building, at 375 Park Ave. in Midtown Manhattan. The space fulfills RFR’s vision to “breathe oxygen into the workplace” by offering tenants a community where people can work, socialize and exercise. The 35,000-square-foot facility was conceived by … Latest Phoenix & Southwest Stories Run Down Denver Hotel to Get New Life Phoenix & Southwest + Southwest + Hospitality | August 15, 2022 Denver resident Brian Toerber is not a hotel developer, but saw some potential in the 63-year old All Inn Motel at 3015 East Colfax, and a vote by the Denver City Council means it might go from antique to boutique. Toerber only spent $3.6 million on the old hotel back in 2016, which had been … Las Vegas Strip Could Soon Get a New Retail Complex Phoenix & Southwest + Southwest + Retail | August 15, 2022 New York-based Gindi Capital, a privately held investment company that already has a significant presence in Las Vegas, has filed plans to build a three-story 95-foot high project that would include retail shops, restaurants, bars and outdoor entertainment venues. The mixed-use project would span over 300,000 square feet on the east side of Las Vegas … Latest Seattle & Northwest Stories Bend Multifamily Property Secures $31M in Acquisition Financing Seattle & Northwest + Pacific Northwest + Apartments | August 15, 2022 CBRE has arranged $31 million in financing for the $49.5 million acquisition of Sienna Pointe Apartments, a 168-unit multifamily community in Bend, OR. The firm’s Nick Santangelo of CBRE Capital Markets’ Debt and Structured Finance secured the seven-year, fixed-rate, interest-only loan on behalf of the buyer, Seattle-based Security Properties. “Bend continues to be one of … Cushman & Wakefield Hires Valuation & Advisory Team Seattle & Northwest + Seattle + Apartments | August 15, 2022 Real estate services firm Cushman & Wakefield has hired a seven-person group to further expand the company’s Valuation & Advisory Living Sector practice area. The team, led by Brian O’Connor, MAI, CRE, is based in Seattle, where they specialized in the multifamily sector and are highly regarded for their market and feasibility studies. The team … Latest Texas Stories Southern Rock Energy Looking to Build New Victoria Refinery Texas + State of Texas + Industrial | August 15, 2022 The proposed refinery is a joint venture between Southern Rock Energy and UltraFuels. It’s expected to cost $5.5 billion to build and pump out 250,000 barrels-per-day. The new project will have a number of green enhancements in comparison to past refinery projects. A reduction in carbon dioxide emissions, volatile organ compounds and other greenhouse gas … San Marcos TRACE Development to get 399-Unit Multifamily Community Texas + State of Texas + Apartments | August 15, 2022 HighPointe Communities is moving forward with Sendero at Trace, a 399-unit project within its TRACE mixed-use development. The project will be built along Interstate 35, between Austin and San Antonio in San Marcos. TRACE is a 420-acre master-planned community that will include residential, commercial, retail and office. Nearly 1,000 multifamily units are planned. Sendero at … Latest Washington DC Stories Choice Hotels Disposes of Cambria Property in Nashville for $110M Washington DC + DC Metro + Hospitality | August 15, 2022 Rockville, MD-based Choice Hotels International, Inc., has sold the Cambria Hotel Nashville Downtown for $109.5 million. In addition, the company entered a new long-term franchise agreement with the buyer, and the hotel will now be managed by Pyramid Global Hospitality. “The sale of the Cambria Hotel Downtown Nashville and execution of a long-term franchise agreement … Build-to-Suit Project in Germantown Includes STEM Commitment to Montgomery College Washington DC + DC Metro + Industrial | August 15, 2022 A joint-venture between Minkoff Development and South Duvall has signed a lease with Hughes Network Systems, LLC to build a 140,000-square-foot build-to-suit project on Montgomery College’s Germantown Campus in Germantown, MD. As part of the arrangement, Hughes and Montgomery College will continue to collaborate on training and educational initiatives. Henry Bernstein, Matt Brady and Aaron …
