Commercial Real Estate News Roundup For Dec. 8. 2014
A Navy town’s central business district moves full speed ahead, Chicago’s hard hats ask “what recession?” and the drawbacks of rising rents in Denver. It’s all here in the national commercial real estate news roundup for December 8, 2014.
- Commercial real estate boom could spell trouble for Denver metro nonprofits (Slideshow), Denver Business Journal, Dec. 2, 2014 – The downside of rising rents is made clear when tenants aren’t for-profit businesses.
- Boston’s commercial real estate sector leading the charge in achieving region’s climate change goals, New England Real Estate Journal, Dec. 5, 2014 – In marked difference to South Florida and other seaside markets, climate change is on the minds of Boston’s commercial property market players.
- Voices of the pros: How IT will affect the future of commercial real estate, Dallas Business Journal, Dec. 5, 2014 – At a technology conference in Dallas, execs struggled with figuring out the broad confluence of smart buildings and traditional IT. Spoiler alert: lots of odd and overbroad predictions.
- In Las Vegas, some recession scars are healing, others smarting, VegasInc, Dec. 3, 2014 – The “new normal” in Las Vegas is marked by out-of-control office vacancy and rough economic fundamentals, says VegasInc.
- Best year since 2008 for construction industry, Crain’s Chicago Business, Dec. 1, 2014 – Chicago’s construction sector has recovered fully from 2008’s lows.
- Blackstone to Sell California Office Buildings for $3.5 Billion, New York Times, Dec. 8, 2014 – You can’t get out before you get in, and private equity giant Blackstone has been so very in on office real estate, it makes news when they get out, even out of a minority of their portfolio.
- Chicago’s old main post office building for sale, Chicago Tribune, Dec. 4, 2014 – 2.4 million square feet in Chicago’s west loop, convenient access to Eisenhower expressway. In fact, it runs through the building.
- State Center debate, Baltimore Sun, Dec. 8, 2014 – Meanwhile in Baltimore, State Center is getting yet another look as a transit-oriented property.
- Office Space: Pandora perks include free gadget vending machine, San Francisco Chronicle, Dec. 8, 2014 – Because it’s way more than an internet radio station, Pandora’s office profile piece illustrates way more than another perk-heavy tech office.
- Legal weed could spark a Portland-area industrial space boom, Portland Business Journal, Dec. 4, 2014 – If you thought raising capital for industrial property is a challenge, try raising capital for legal marijuana growing, which still struggles with federal law and bank chilliness.
- Spike in Cyber Monday Sales Boosts U.S. Industrial Market Demand, World Property Journal, Dec. 3, 2014 – Is the country weaning itself off of Black Friday and onto Cyber Monday?
- Prominent Apex shopping center sold for $7 million to Triangle investor group, Triangle Business Journal, Dec. 8, 2014 – A 2004 property fetches a decent price ten years and one major recession later.
- Center City retail scene continues to gain momentum, Philadelphia Business Journal, Dec. 3, 2014 – Is it always sunny in Philadelphia’s Center City? Shopping indicators suggest it is, for now.
- Downtown Suffolk’s new life continues, Hampton Road Pilot, Dec. 8, 2014 – The Navy town’s fortunes billow like full sails downtown.
- Denver real estate player Apartment Realty Advisors to be scooped up for $110 million, Denver Business Journal, Dec. 1, 2014 –
- Real Estate Notebook: Senior living facility to break ground, Sun Sentinel, Dec. 5, 2014
- Phoenix looks to develop largest vacant downtown parcel, Phoenix Business Journal, Dec. 8, 2014