Distressed Asset Buyer: To Buy Or Not To Buy Cover Story | November 1, 2023 Blackstone Closes Real Estate Secondaries Fund at $2.6B National + Global + Finance | November 30, 2023 Federal Agencies Continue Lagging on Return-to-Office Efforts National + Office | December 1, 2023 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 The State of Office A five-part look at the asset class that goes beyond the negative headlines. Beneath the Headlines: Not All Office Product is Suffering Read How Owners/Landlords are Improving Occupancy Read The Reality of the "Doom Loop" Read Discussing Debt Maturities Read The Reality of Office "Give-Backs" Coming Dec. 2 Opportunities in the Current Environment Coming Dec. 9 Apartment buildings for saleCheck out the latest properties available on apartmentbuildings.com3643-3647 Whittier Blvd/26 Project Based VouchersLos Angeles, CACalifornia & West + AffordableListing Status:AvailableListing Type:AuctionPrice:$1,600,000No. of Units:26APN:5188-008-032 / 5188-008-031Zoning Code:[Q]C2-1-CUGUOpportunity Zone:YesPrice per unit:$61,538Learn MoreThe Oxnard CollectionOxnard, CACalifornia & West + ApartmentsListing Status:AvailableListing Type:Highest & best offerPrice:$57,366,000No. of Units:201Cap Rate:4.62GRM/GIM:13.41Opportunity Zone:NoPrice per unit:$285,402Learn More1127-1129 Flatbush AvenueBrooklyn, NYNew York & Tri-State + Apartments + Mixed-UseListing Status:AvailableListing Type:Highest & best offerPrice:$11,500,000No. of Units:30Cap Rate:5.83GRM/GIM:12.99Building Size:24057 Sq ftLot Size:3749 AcresNo. of Stories:7Opportunity Zone:NoPrice per unit:$383,333Learn MoreView all apartments 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. Courses available now Explore courses Continuing Education Architect Courses We work with the industry's leading subject matter experts to create quality architect CEU courses from the ground up. Continuing Education Attorney Courses We provide quality CLE that is both easy and convenient to complete, backed with the best customer experience possible. Continuing Education Broker Courses Whether you’re starting a new career or skilling up, we have certified online courses for Real Estate Agents and Brokers. 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 SITE Spins Off S. Carolina Regional Shopping Center for $46M Atlanta & Southeast + Carolinas + Florida & Gulf Coast + Retail | November 29, 2023 Colliers | U.S. has arranged the sale of Wando Crossing, a 100% occupied, 214,029-square-foot regional shopping center for $46,750,000. This prominent retail destination is situated in the upscale Mount Pleasant area of Charleston, South Carolina. A Colliers team led by Brad Peterson represented the seller SITE Centers. The buyer was Ziff Real Estate Partners. Donald … Thorofare Arranges $25M Loan for NC Mixed-Use Project Atlanta & Southeast + Carolinas + Retail | November 29, 2023 Thorofare Capital arranged a $25,035,000 loan to Grubb Properties for the financing and lease-up of a two-building, 121,000 aggregate-square-foot, mixed-use project with an adjacent 306-space parking deck directly across the street from the University of North Carolina – Chapel Hill. Thorofare’s David Perlman originated the loan. “We are thrilled to have provided this strong sponsorship … Latest Boston & New England Stories Lightstone Adds Ex-BXP Exec to Life Sciences Team Boston & New England + Boston + Industrial | December 1, 2023 Lightstone, a New York-based real estate firm, has recruited Chris Maciejczak, a former executive from BXP and JLL in Boston, to spearhead its life sciences real estate division. Tasked with managing a six-building life sciences portfolio solely based in Greater Boston, Maciejczak aims to expand the firm’s presence in the region and beyond, largely … MFS Renews 330K-SF Lease in Prudential Center Boston & New England + Boston + Office | December 1, 2023 MFS Investment Management has renewed its 330,000 square feet lease in Prudential Center in Boston’s Back Bay area in Massachusetts, reported by Boston Business Journal. Located at 111 Huntington Ave, Prudential Center is positioned at the base of the Prudential Tower. It offers direct indoor access to various nearby spots, including the Hynes Convention Center, office … Connect TeamJosh OrensteinVice President, News & MediaJohn HalloranVice President of Creative & MarketingKasi OrcuttDirector, Connect ClassroomView 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 VIDEO: Retail Dealmakers See Obstacles Continuing into ’24 California + Los Angeles + Retail | December 1, 2023 “It’s taking a lot longer to do deals than ever in the past,” retail leasing attorney Barry Edwards of Greenberg Glusker told Connect CRE. At the recent Connect Retail West 2023 conference in Lons Angeles, retail experts were asked to identify what kinds of barriers they’ve seen in closing deals this year and whether they … Axiom Brings EDENS Retail Center to Full Occupancy California + Orange County + Retail | December 1, 2023 Axiom Retail Advisors, an Irvine-based retail consulting firm specializing in Southern California landlord and tenant representation as well as development, arranged leases by Daiso, Water Wings, Hotworx Yoga and Prizm Dental at Foothill Plaza in La Verne. The leases bring the plaza to 100% occupancy. Stephanie Skrbin and Lea Clay Park of Axiom represented the … Latest Chicago & Midwest Stories Workbox Signs Lease, Iron Galaxy Expands Space at The National Chicago & Midwest + Downtown + Office | December 1, 2023 Transwestern Real Estate Services (TRS) signed both a new lease and a large lease expansion at 125 South Clark Street, the 600,830-square-foot building known as The National. Workbox, a Chicago-based co-working firm, has signed a 29,033-square-foot lease and plans to open its new space in January 2024. And Iron Galaxy Studios, a national video game … JLL: Demand for Sustainable Buildings Supports Need for ESG Investment Chicago & Midwest + Downtown + Office | December 1, 2023 The economy has created recent challenges for both investors and occupiers as it relates to investing in modernizing and improving sustainability in their built environments. JLL’s new report, The Commercial Case for Making Buildings More Sustainable, highlights three key factors that should still be prioritized in decision-making around ESG. Firstly, the rising demand for sustainable … Latest Florida & Gulf Coast Stories SITE Spins Off S. Carolina Regional Shopping Center for $46M Atlanta & Southeast + Carolinas + Florida & Gulf Coast + Retail | November 29, 2023 Colliers | U.S. has arranged the sale of Wando Crossing, a 100% occupied, 214,029-square-foot regional shopping center for $46,750,000. This prominent retail destination is situated in the upscale Mount Pleasant area of Charleston, South Carolina. A Colliers team led by Brad Peterson represented the seller SITE Centers. The buyer was Ziff Real Estate Partners. Donald … Fort Lauderdale Tire Store to Make Way for Rental Highrise Florida & Gulf Coast + South Florida + Apartments | November 29, 2023 It’s now just a non-descript corner business. But in a few years, it could look like this. Bachow Ventures and Infinity Collective have teamed to acquire the Fort Lauderdale Goodyear tire shop and build something much grander. The joint venture paid $8 million for the property. Jeansusan Inc was the seller. The property is located … Latest Global Stories Blackstone Closes Real Estate Secondaries Fund at $2.6B National + Global + Finance | November 30, 2023 Blackstone said Thursday it had reached the final close on $2.6 billion for its latest real estate secondaries fund, Strategic Partners Real Estate VIII L.P., and its related committed program vehicles. The fund, which launched in April 2022, is the fourth largest real estate secondaries fund on record, according to PEI Group. Verdun Perry, global … Global Price Declines Continue but Decelerate National + Global + Finance | November 9, 2023 Global commercial property prices sustained their fall in the third quarter of 2023, as investment activity continued to contract across most commercial markets, MSCI Real Assets said Thursday. However, the pace of price declines has slowed significantly in recent months. The Global Cities Composite Index fell 4.5% from a year earlier in Q3. That represented … Latest Lenders Stories Latest National Stories Federal Agencies Continue Lagging on Return-to-Office Efforts National + Office | December 1, 2023 Despite urging by the Biden administration and Congress to end pandemic-era telework policies, federal agencies have yet to reach their return-to-office objectives, the Real Estate Roundtable reported. Only about half of cabinet agencies have achieved the goal of workplace return by January 2024. Real Estate Roundtable chair John Fish was quoted in the Wall Street Journal, expressing … TruAmerica Multifamily’s Bob Hart Launches Communities-Focused Podcast National + Apartments | November 30, 2023 “Every cycle is different… and this one is definitely going to be different than the ones that we’ve been through before.” That’s Bill Lindsay, founding partner & managing partner of PCCP and the leader of PCCP’s equity business, in conversation with Bob Hart, CEO, president and founder of TruAmerica Multifamily. In Lindsay’s case, he estimates … Latest New York & Tri-State Stories Washington Heights MF Property Sold for $9M New York & Tri-State + Uptown/Bronx + Apartments | December 1, 2023 Ariel Property Advisors closed the sale of an 81-unit rent-stabilized multifamily property spanning 63,935 square feet in Washington Heights at 75-89 Wadsworth Terrace for $9.25 million. The six-story building, which benefited from a J-51 tax abatement for the next 20 years, underwent substantial renovations in 2010 and includes roof-mounted solar panels. Situated on … PSG Moves Down 5th Ave with Expanded Store New York & Tri-State + Midtown New York + Retail | December 1, 2023 Paris Saint-Germain (PSG) is expanding its New York City presence by relocating to a larger space on Fifth Avenue. Set to open on December 15, the new 5,200-square-foot store at 535 5th Ave., owned by The Moinian Group, will be the club’s largest worldwide, surpassing its former 4,400-square-foot site at 587 5th Ave., owned … Latest Phoenix & Southwest Stories Single Tenant Landed for Denver 220K SF Mass Timber Building Phoenix & Southwest + Southwest + Office | November 29, 2023 Xcel Energy-Colorado has pre-leased the entirety of office space at T3 RiNo, the new six-story, mass timber office building in Denver’s River North Arts District (RiNo). Ivanhoé Cambridge, Hines and McCaffery developed the 220,172 square-foot office structure at T3 RiNo. T3 RiNo features a refined industrial, heavy-timber-structured design that is 100% renewable, recyclable, and non-toxic. The … 194-Unit BTR Community to Open in NE Tucson Phoenix & Southwest + Arizona + Apartments | November 29, 2023 Sanders and Amos and MEB Management Services hope to start accepting move-ins during the Christmas holiday for Casitas Catalina in Tucson, a 194-unit built-to-rent community.Located at 9125 E Catalina Hwy in Tucson, Casitas Catalina is offering 1, 2, and 3-bedroom options. MEB’s Amity Dalton adds, “Those seeking a top-tier single-family lifestyle without a mortgage or … Latest Seattle & Northwest Stories Swedish Health Begins $1.3B Expansion of First Hill North Tower Seattle & Northwest + Seattle + Healthcare | December 1, 2023 Seattle-based Swedish Health Services has begun the more than $1.3 billion North Tower project on its First Hill Campus, the Puget Sound Business Journal reported. The 750,000-square-foot medical tower will have a new acute care facility, an additional outpatient and imaging services building, and office space. The 12-story tower will also feature 24 advanced operating suites and … FRED310 Breaks Ground on Industrial Building for Harbor Freight Tools Seattle & Northwest + Seattle + Industrial | December 1, 2023 FRED310, a new warehouse and distribution project on 310 acres in the Greater Seattle area, developed by the joint venture of Panattoni and Crow Holdings Capital, has broken ground on a 782,875-square-foot building for Harbor Freight Tools, a national tool retailer. Executive Managing Directors Scott Alan, SIOR and Patrick Mullin, as well as Managing Director … Latest Texas Stories Texas A&M Planing $200M Houston Space Institute Texas + Houston-Galveston + Office | November 29, 2023 Texas A&M officials are planning a new $200 million space institute that will work with NASA’s Johnson Space Center in Houston. Once built, it will be the first of its kind in the U.S. Along with support mission training, robotics and aeronautics work, the new facility will replicate both the Mars and lunar surfaces, allowing better training and … Georgetown Mixed-Use Project Kicks Off Construction Texas + Austin + Office | November 29, 2023 Westinghouse Crossing, a 35-acre mixed-use development in Georgetown, is set to break ground in January. St. John Properties is heading up the project. The development, which was previously expected to break ground this fall, will be located near the intersection of Westinghouse Road and North Mays Street and include 225,000 square feet of space. 170,000 … Latest Washington DC Stories Historic Columbia Heights Building Changes Hand Washington DC + DC Metro + Apartments | December 1, 2023 Marcus & Millichap has closed the sale of 2724 11th Street NW, a 26-unit apartment building in Columbia Heights, DC. The sale comes after a decade-long struggle with legal disputes and a Chapter 11 Bankruptcy filing. Esteemed for its design and historical importance, the property holds a special place in Columbia Heights’ heritage. The new … Arete, CHEMTREC Ink New Office Leases in Falls Church Washington DC + DC Metro + Office | December 1, 2023 Arete and CHEMTREC have inked 64,529 square feet and 25,187 square feet at a Class A office building in Falls Church, VA. Located at 3130 Fairview Park Drive in Fairview-Merrifield, the eight-story building offers amenities including upgraded common areas, a fitness center, conference facilities, and outdoor spaces. Cushman & Wakefield’s Tim Summers, Will Thomas, and … Latest Stories FromNorth Square to Buy, Distribute Evanston Opportunities FundAlternative Assets | December 1, 2023North Square Investments, a multi-boutique asset manager, has agreed to buy Evanston Capital Management’s Evanston Alternative Opportunities Fund. Chicago-based North Square, which will have approximately $10.4 billion in assets under management and advisement following the closing of the deal, will become the investment advisor to the fund while Evanston Capital will continue managing it as ...LaSalle St. Lures $550M Chicago Firm from Atria WealthBroker/Dealers | December 1, 2023LaSalle St., a family of wealth management firms encompassing an independent broker-dealer and two registered investment adviser (RIA) platforms, announced that Deerfield, IL-based Horwitz & Associates, an RIA with $550 million in assets, has joined its network. Horwitz & Associates was previously operating as an office of supervisory jurisdiction (OSJ) under Western International, a subsidiary ...Faropoint Sells Minority Stake to Invesco Real EstateAlternative Assets | December 1, 2023Faropoint, a Hoboken, NJ-based investment firm focused on last-mile industrial properties, closed on a strategic investment from Invesco Real Estate, who acquired a minority stake in its platform. The amount of the deal was not disclosed. The transaction was structured by Invesco Real Estate’s Platform Investments team, led by Andrew Lane, senior director. Faropoint is ...Fintech Leads AI Adoption in Risk and Compliance: Moody’s Financial Advisory | December 1, 2023Fintech is the leading sector for artificial intelligence (AI) adoption and readiness in risk and compliance, according to a Moody’s Analytics study. The report, Navigating the AI Landscape: Insights from Compliance and Risk Management Leaders, included a poll of more than 550 top compliance and risk management professionals from 67 countries to examine their views ...
