Clarion Partners Pays $56M for Tampa Industrial Park
Tampa Airport Logistics was fully leased at the time of the transaction. Image courtesy of Cushman & Wakefield Tampa Airport Logistics was fully leased at the time of the transaction. Image courtesy of Cushman & Wakefield Tampa Airport Logistics was…
Horizon Equities Buys New Jersey MOB
Jackson Health Village came online between 2014 and 2015. Image courtesy of JLL Capital Markets Jackson Health Village came online between 2014 and 2015. Image courtesy of JLL Capital Markets Jackson Health Village came online between 2014 and 2015. Image…
The January Digital Issue of CPE Is Now Available!
The January 2024 Digital Digest From the Editor 2024 Forecast: Is an Investment Comeback Ahead? Image by MicroStockHub/iStockphoto.com Trend: Attracting Tenants in Core Life Science Markets. Rendering courtesy of The RMR Group Trend: Why Coworking Is Catching On. Image courtesy…
Armada Hoffler Secures New Tenant at Its Virginia HQ
Armada Hoffler Properties has signed a new office lease at Armada Hoffler Tower, the 362,500-square-foot Class A office building in Virginia Beach, Va., that also serves as its corporate headquarters. The new tenant is KPMG LLP, a U.S. audit, tax…
Big Sky Medical Enters Phoenix With $46M Acquisition
Blackhawk Medical Center is a three-building medical and office campus. Image courtesy of Big Sky Medical Blackhawk Medical Center is a three-building medical and office campus. Image courtesy of Big Sky Medical Blackhawk Medical Center is a three-building medical and…
Transactions: January 2024
700 Milan Drive. Image by Evan Petty, Aerial Imaging courtesy of Westcore Properties READ THE DIGEST !function(){“use strict”;window.addEventListener(“message”,(function(a){if(void 0!==a.data[“datawrapper-height”]){var e=document.querySelectorAll(“iframe”);for(var t in a.data[“datawrapper-height”])for(var r=0;r<e.length;r++)if(e[r].contentWindow===a.source){var i=a.data["datawrapper-height"][t]+"px";e[r].style.height=i}}}))}(); !function(){“use strict”;window.addEventListener(“message”,(function(a){if(void 0!==a.data[“datawrapper-height”]){var e=document.querySelectorAll(“iframe”);for(var t in a.data[“datawrapper-height”])for(var r=0;r<e.length;r++)if(e[r].contentWindow===a.source){var i=a.data["datawrapper-height"][t]+"px";e[r].style.height=i}}}))}(); To have your transaction featured, submit…
Boston Life Science Project Comes Online
The building at 10 Prospect St. comprises 60 percent lab space and 40 percent office space. Image courtesy of Gilbane Building Co. US2, a partnership between Magellan Development Group, RAS Development, Cypress Equity Investments and Affinius Capital, has completed 10…
Meyers Accesso Acquires South Florida Office Building
The Atrium at Broken Sound. Image courtesy of CommercialEdge data Meyers Accesso has acquired The Atrium at Broken Sound, an almost 100,000-square-foot, three-story Class A office property at 6111 Broken Sound Parkway N.W., in Boca Raton, Fla. The property is…
For 2024, Prologis Forecasts Growing Freight Traffic
It’s that time of year again, when logistics development powerhouse Prologis takes a shot at predicting what the new year will bring for global supply chains—and reviews its own predictions from 12 months earlier. In Seven Supply Chain Predictions for…
Office Sector Faces Surging Loan Defaults Amid Market Challenges
Maturing office loans are concentrated in primary markets. Image by Sean Pavone/iStockphoto The office sector is poised for a surge in loan defaults as demand for office space declines, expenses rise and property values fall. CommercialEdge’s loan data analysis reveals…
RA Centers Buys Phoenix-Area Retail Asset
Palm Valley Pavilions West was built in 1994. Image courtesy of Vestar RA Centers has purchased Palm Valley Pavilions West, a 232,573-square-foot power retail center in Goodyear, Ariz. The new owner selected Vestar as the manager for the shopping center,…
Phoenix Investors Affiliate Buys 785 KSF Memphis Facility
A Phoenix Investors affiliate has acquired the 785,000-square-foot industrial facility at 3231 Paul R Lowry Road in Memphis, Tenn. Image courtesy of Phoenix Investors An affiliate of Phoenix Investors has acquired a 785,000-square-foot industrial facility in Memphis, Tenn. Electrolux was…
A Recap of the Industrial Sector’s Performance in 2023
Prominent ports reverted to pre-pandemic activity levels, influenced by subdued demand and changing consumer preferences. Image by Vanit Janthra/iStockphoto.com In 2023, the industrial sector underwent significant changes characterized by the normalization of port activity, a surge in North American manufacturing…
Gantry Secures $23M for DFW Industrial Park Acquisition
The commercial spaces at DFW Corporate Park have been recently updated with modern fixtures and upgraded materials. Image courtesy of Gantry Gantry has secured a total of $23.4 million of senior financing and preferred equity to capitalize the acquisition of…
Dallas Office Market Gives Off Mixed Signals
Ryan Tower will come online by 2024’s third quarter. Image courtesy of Ryan Cos. The Dallas office market has been giving off mixed signals, as construction starts significantly increased year-over-year, clashing with the overall landscape. Investment activity did however experience…
DRA Advisors Sells Grocery-Anchored Shopping Center
Grand Union Supermarket at Freedom Plaza. Image courtesy of Octave Holdings and Investments Octave Holdings and Investments LLC has entered the New York retail market with the acquisition of Freedom Plaza, a 197,219-square-foot grocery-anchored shopping center in Rome, N.Y., from…
Clarion Partners Purchases Jacksonville Industrial Building
Building 200 at 9909 Pritchard Blvd. is fully occupied by IPEX USA LLC. Image courtesy of CBRE Clarion Partners LLC has acquired a 300,240-square-foot, Class A industrial building in Jacksonville, Fla., on behalf of a separate account. CBRE arranged the…
What to Expect for CRE in 2024
Richard Barkham, Global Chief Economist & Head of Global and Americas Research, CBRE. Image courtesy of CBRE CBRE expects an economic slowdown in the U.S. next year that will impact commercial real estate with bank lending remaining tight throughout 2024,…
Harbor Associates JV Pays $45M for LA Office Building
The building at 1640 Sepulveda Blvd. underwent renovations worth more than $11 million within the last decade. Image courtesy of Harbor Associates Harbor Associates LLC and F&F Capital Group purchased 1640 Sepulveda Blvd., a 164,683-square-foot office building in Los Angeles,…
Delray Beach Mixed-Use Project Lands $173M Loan
The 7-acre Sundy Village development’s total cost reaches $240 million. Rendering courtesy of Pebb Capital Pebb Capital has secured a $173 million construction loan from Monroe Capital and J.P. Morgan for its $240 million Sundy Village mixed-use office and retail development in…
Fidelis, Transwestern Eye Austin-Area Industrial Campus
Berry Creek Business Park will comprise three industrial buildings. Image courtesy of Transwestern Investment Group A joint venture between Fidelis Industrial and Transwestern Investment Group—acting on behalf of a separately managed account—has acquired 56 acres in Georgetown, Texas, for the…
Coalition Space Enters Denver With Downtown Location
1660 Lincoln St. rises 31 stories in downtown Denver. Image courtesy of CommercialEdge New York-based flexible office provider Coalition Space will open a new coworking location spanning 16,000 square feet in downtown Denver. The firm signed an agreement with landlord…
Refining a Brooklyn Sugar Factory for Today’s Office Market
After recently undergoing an extensive adaptive reuse process, The Domino Sugar Factory building in Williamsburg is now part of a bustling zone on Brooklyn’s waterfront. The 150-year-old plant closed down in 2004, but three years later, the New York Landmark…
Fisher Brothers JV Closes Largest Office Lease of 2023
1345 Avenue of the Americas went through a large-scale capital improvement project that involved the addition of an amenity floor. Image courtesy of CommercialEdge In the largest office lease of the year, Fisher Brothers and institutional investors advised by J.P….
Avison Young Tapped to Lease LA Trophy Tower
Figueroa at Wilshire is the ninth-tallest building in Los Angeles. Image courtesy of CommercialEdge Brookfield Properties has selected Avison Young as leasing agent for Figueroa at Wilshire, a 1.1 million-square-foot Class A+ office tower in Los Angeles’ Financial District. Principal…
Clayco to Build $5B EV Plant Near Atlanta
Electric vehicle manufacturer Rivian has selected Clayco to construct its $5 billion plant on an 1,800-acre site in Stanton Springs, Ga. Image courtesy of Rivian and Clayco Electric vehicle manufacturer Rivian has selected Clayco to construct its $5 billion, 16…
Skanska Sells Beverly Hills Office Asset for $71M
9000 Wilshire Blvd. in Beverly Hills, Calif., marks the Skanska’s first project in the Los Angeles region. Image courtesy of Skanska Skanska has sold an office building in Beverly Hills, Calif., for approximately $71 million. A Europe-based company acquired the…
Join the CPE Influence Awards Celebration
Join the CPE team as we announce the winners of the 2023 Influence Awards, featuring a keynote from our Lifetime Achievement Award winner Jeffrey DeBoer, president & CEO of The Real Estate Roundtable. The event will take place on January…
MetLife Extends 400 KSF Lease at Manhattan Skyscraper
The MetLife Building remains one of the 100 tallest buildings in the U.S. Image courtesy of Tishman Speyer Co-owners Tishman Speyer and Irvine Co. have signed an 11-year lease extension with MetLife at 200 Park Avenue, a 3.1 million-square-foot office…
SITE Centers Sells Orange County Shopping Center
An ALDI store anchors Buena Park Place. Image courtesy of JLL Capital Markets SITE Centers Corp. has sold Buena Park Place, a 208,572-square-foot grocery-anchored shopping center in Buena Park, Calif. The Orange County asset was fully leased at the time…
MDH Partners Inks 351 KSF Lease at Central Florida Facility
BroadRange Logistics currently occupies more MDH-owned facilities in different states, such as Pennsylvania, Indiana and Georgia. Image courtesy of MDH Partners MDH Partners has signed a 350,899-square-foot lease at Ocala Logistics Center, an industrial building in Ocala, Fla. BroadRange Logistics…
Big Sky Medical Gets Rezoning Approval for Dallas MOB
Pyramid Towers comprise a total of 300,000 square feet. Image courtesy of CommercialEdge Big Sky Medical has received the approval from the Dallas City Council for the rezoning of the roughly 145,000-square-foot Pyramids South Tower, which can now include medical…
Dos and Don’ts for Life Science Conversions
Ken Richter Adapting existing properties for life science purposes is a prevailing strategy for breathing new life into real estate assets. From unused offices to retired industrial properties, many life sciences companies and developers see adaptive reuse as an opportunity…
Ridgeline Capital Buys Dallas Medical Facility
The Professional Building I is at the entrance of the White Rock Medical Center campus. Image courtesy of Ridgeline Capital Partners Ridgeline Capital Partners has acquired The Professional Building I, a 44,045-square-foot medical office building in Dallas. The seller was…
Lennar’s Miami HQ Changes Hands
5505 Waterford, currently anchored by Lennar. Image courtesy of CBRE Franklin Street Properties has completed the $68 million sale of 5505 Waterford at Blue Lagoon, a 213,182-square-foot Class A office building in Miami’s Airport South submarket. The property, the former…
Alexandria Inks Full-Building Lease at Boston-Area Campus
60 Sylvan Road on the Alexandria Center for Life Science – Waltham mega-campus. Image courtesy of Alexandria Real Estate Equities Inc. Alexandria Real Estate Equities Inc. has signed a long-term lease for the 165,940-rentable-square-foot building at 60 Sylvan Road on…
Commercial Mortgage Delinquency Rates Increased in Third-Quarter 2023
Source: Mortgage Bankers Association Commercial mortgage delinquencies increased in the third quarter of 2023, according to the Mortgage Bankers Association’s (MBA) latest Commercial Delinquency Report, released earlier this month. Not unexpectedly, delinquency rates on commercial mortgages increased for the third…
Blackstone JV Buys Stake in $17B Signature Bank Portfolio
Blackstone, CPP and Rialto have agreed to pay $1.2 billion for their stake in the Signature Bank loan portfolio secured by a collection of mostly NYC properties. Image by Todd Quackenbush/Unsplash.com Several Blackstone subsidiaries, together with the Canada Pension Plan Investment…
GLP Capital Partners Sells Industrial Facility for $110M
The warehouse at 84 Zions View Road is fully air conditioned. Image courtesy of JLL A 1 million-square-foot industrial facility in Manchester, Pa., has changed hands for $110.3 million. The previous owner was GLP Capital Partners, according to CommercialEdge information. JLL…
Fintech Firm Signs Full-Floor Lease in Manhattan
860 Broadway formerly served as Andy Warhol’s studio. Image courtesy of JLL Fintech firm Valon Technologies has signed a leasing agreement with owner Gordon Property Group for 13,815 square feet at 860 Broadway in Manhattan, at a price per square…
Trammell Crow, Clarion Deliver 1st Phase of Industrial Project
Fairfield Industrial Center’s Building One totals 205,223 square feet. Image courtesy of Trammell Crow Co. Trammell Crow Co., in joint venture partnership with Clarion Partners, has completed construction on the first phase of Fairfield Industrial Center in Fairfield, Calif. Building…
Brookwood Financial Buys Florida Shopping Center
Melbourne Shopping Center was 92.4 percent leased at the time of sale. Image courtesy of CommercialEdge Brookwood Financial Partners has purchased Melbourne Shopping Center, a 211,006-square-foot Publix-anchored retail center in Melbourne, Fla. SITE Centers was the previous owner, according to…
Terreno Adds to $510M Industrial Campus in Miami
Building 41 is part of Countyline Corporate Park Phase IV. Image by Claudio Schwarz via Unsplash.com Terreno Realty Corp. has completed Countyline Corporate Park Phase IV’s Building 41, a 191,000-square-foot industrial facility in Hialeah, Fla. The property is already 100…
JBG Smith JV Unveils 9 MSF Plan for DC Suburbs
JBG Smith, partners are planning an arena-centered project in DC’s Virginia suburbs. Image courtesy of JBG Smith JBG Smith and partners Monumental Sports & Entertainment, the Commonwealth of Virginia and the City of Alexandria will develop a mixed-use entertainment district…
Strategic Office Partners Sells LA-Area Asset
The other office building within the Conejo Corporate Campus was retained by the seller. Image courtesy of CommercialEdge Strategic Office Partners, an investment platform founded by TPG Real Estate and Gramercy Property Trust, has sold 2400 Conejo Spectrum, a 98,841-square-foot…
The Fed Holds the Line on Interest Rates Again. What’s Next?
Federal Reserve Chair Jerome Powell at Wednesday’s press conference. Screenshot by Gabriel Frank In its final meeting of the year, the U.S. Federal Reserve Open Markets Committee elected on Wednesday to again hold interest rates at their current level, a…
DC BLOX to Build 750 KSF Data Center Campus in Atlanta Suburb
A rendering of DC BLOX’s new campus in Conyers, Ga. Image courtesy of DC BLOX DC BLOX has purchased 72 acres of land for the construction of a two-building, 216-megawatt hyperscale-ready data center campus in the Atlanta suburb of Conyers,…
Flint Development Breaks Ground on 2.1 MSF Distribution Project Near Savannah
Phase 1 of Dorchester Commerce Park. Image courtesy of Flint Development Construction has begun on the 2.1 million-square-foot, three-building Dorchester Commerce Park in Midway, Liberty County, Ga., about 30 miles southwest of the Port of Savannah. Flint Development is the…
Sterling Organization Buys $31M Shopping Center
A Safeway grocery store anchors Braemar Village Center. Image courtesy of Sterling Organization Sterling Organization has purchased Braemar Village Center, a 111,635-square-foot grocery-anchored shopping center in Bristow, Va., for $31.4 million. The previous owner was Regency Centers, according to CommercialEdge…
Logistics Company Renews Chicago-Area Industrial Lease
The warehouse at 2551-2561 Allan Drive came online in 1985. Image courtesy of Lee & Associates LaSalle Investment Management has signed a 106,100-square-foot lease renewal at 2551-2561 Allan Drive, a 198,196-square-foot industrial building in Elk Grove Village, Ill., a Chicago…
Trammell Crow Inks 35 KSF Lease at Chicago Life Science Campus
Other tenants at 1375 West Fulton include Portal Innovations and Xeris Pharmaceuticals. Image courtesy of Trammell Crow Co. Trammell Crow Co. has signed a 35,021-square-foot lease at 1375 West Fulton, a 301,260-square-foot life science building in Chicago. Colliers represented the…
Poll Results: The Fed’s Report Card
Commercial Property Executive’s most recent monthly poll asked readers about their assessments of the Federal Reserve’s policies, following 11 interest rate hikes that saw the funds rate climb by more than 500 basis points in an 18-month span. The current…
SouthWest Water to Relocate Houston HQ
Minute Maid, a division of Coca-Cola Co., closed its Sugar Land headquarters in 2021. Image courtesy of CommercialEdge Lionstone Investments has signed a 41,114-square-foot lease at The Minute Maid Building, a 185,000-square-foot office property in Sugar Land, Texas. SouthWest Water…
Longpoint Acquires 1.4 MSF Florida Portfolio
Assets in the portfolio include buildings in Davie (pictured), Deerfield Beach and Lauderhill. Image courtesy of CBRE Longpoint Partners has purchased a 25-building industrial portfolio totaling roughly 1.4 million square feet. Seagis Property Group sold the properties, located across Miami…
Hines Closes $152M DST Offering for Houston Tower
A Hines subsidiary bought 200 Park Place in Houston last year, for $145 million. Image courtesy of Hines Hines Securities Inc. has completed a $152 million offering of interests in HGIT 200 Park Place DST, a Delaware Statutory Trust designed…
Blackstone, Digital Realty Form $7B Venture
Blackstone—whose NYC headquarters is pictured above—has poured several billions in data centers this year alone. Image courtesy of CommercialEdge Digital Realty has entered a joint venture with funds controlled by Blackstone for the development of four new data center campuses…
Broe Group JV Lands New Tenant at 20 MSF Savannah Industrial Park
Savannah Gateway Industrial Hub is a 2,600-acre logistics campus. Image courtesy of The Broe Group Kyungshin America Corp. has selected the 20-million-square-foot Savannah Gateway Industrial Hub for the location of its new distribution center, in Rincon, Ga. The South Korea-based…
CPE Poll: 2024’s Biggest Challenges for CRE
Commercial Property Executive has released its latest monthly reader poll! We want to know what your company’s biggest challenge will be, going into the new year. Throughout 2023, commercial real estate has weathered myriad storms, from decades-high interest rates, labor…
GI Partners Launches Health-Care Investment Platform
uCity Square is among GI Partners’ medical office buildings. Image courtesy of CommercialEdge Private alternative investment firm GI Partners is establishing UDLR Healthcare, a venture which will focus on investing in medical outpatient buildings. The platform is a partnership between…
The Net Lease Vertical That Hits Home
Jonathan Hipp Commercial real estate investors are always looking for alternatives in which to invest capital and now have another largely untapped market sector to explore. Single-family rentals and build-to-rentals are attracting more and more attention from investors who see…
Los Angeles Office Deal Volume Highest in the Country
Worthe Real Estate completed the Second Century Project for Warner Bros., in Burbank. Rendering by Sora, courtesy of Gehry Partners As we enter the last quarter of the year, Los Angeles’ office construction pipeline is still on a downward trajectory—in…
4 Strategies for Reaching Net Zero
Joe Rozza With climate change becoming a more material risk, many companies are accelerating steps to reduce their environmental impact and improve the resilience of value chains to endure extreme weather, chronic water stress and other risks. While recognizing the…
Investment Firm Signs 77 KSF Manhattan Lease
In 2022 SL Green paid $1.8 billion for the 45-story high-rise. Image courtesy of CommercialEdge SL Green Realty Corp. has inked a 76,716-square-foot lease at 245 Park Ave., a 1.8 million-square-foot office tower in Manhattan. Investment firm Stonepeak Partners will…
Madison Capital, Taconic Provide $40M for San Francisco Acquisition
The State Bar of California will continue to occupy much of the office building at 180 Howard St. in San Francisco’s South Financial District. Image courtesy of the State Bar of California Madison Capital and Taconic Capital Advisors LP have…
CBRE IM Buys Kentucky Retail Center
Talbots is one of Paddock Shops’ major tenants. Image courtesy of CBRE IM CBRE Investment Management has acquired a shopping center in Louisville, Ky., through one of its largest value-add funds. The firm’s CBRE Strategic Partners U.S. Value 9 joined…
EV Boom Reshapes Industrial Landscape Nationwide
The rising popularity of electric vehicles is driving a significant need for industrial space across the country. Image by Scharfsinn86/iStockphotos.com The surge in electric vehicle adoption is fueling a nationwide demand for industrial space, the latest CommercialEdge industrial report notes….