Commercial continues on the mend, Asian auction markets heat up online, retail development up in secondary and tertiary markets and iconic apartments sell for record prices in East Los Angeles. It’s all here at the Commercial Real Estate new Roundup for May 26, 2015.
- Commercial property’s path to recovery NuWire Investor, May 21, 2015 – National Association of Realtors chief economist Lawrence Yun and industry thought leaders believe the commercial real estate has improved and are encouraged about a strong future.
- Auction.com to sell US commercial real estate to Chinese buyers Realty Today, May 21, 2015 – Auction.com and Juwai.com the leading Chinese international real estate portal has established a new partnership to enable Chinese investors to buy U.S. commercial real estate online.
- New York HQ of Credit Suisse sells for $2.29B The Independent, May 21, 2015 – Biggest sale of an office building since 2008 and one of the biggest sales of commercial real estate ever in New York City.
- Cushman & Wakefield closes $650.3M deal on Verizon campus Bisnow, May 20, 2015 – In the largest sale-leaseback in New Jersey’s history, Verizon’s Operations Center sold to Chicago’s Mesirow Financial.
- E-commerce driving new regional distribution hubs The Wall Street Journal, May 21, 2015 – Unlikely locations emerging as small-scale logistics hubs and local distribution centers for second tier markets.
- Flagler sells Tradeport property for $37.2M Daily Record, May 21, 2015 – Eight buildings at Jacksonville International Tradeport were scooped up last week by a California investment firm.
- Retail’s challenge in Sioux Falls: Finding good home Argus Leader, May 20, 2015 – Retailers are getting creative in Sioux Falls by redeveloping non-traditional commercial property on well-traveled streets in order to locate there.
- Retailers in expansion mode, ground-up development still challenging National Real Estate Investor, May 20, 2015 – Vacancies are down, but growth is still not robust enough to spawn new development.
- Pricey Echo Park apartment sales in the works Eastsider LA, May 21, 2015 – Strong East Los Angeles market pushes sales of iconic apartment buildings and bungalows.
- Multifamily investors bid in secondary, tertiary markets National Real Estate Investor, May 19, 2015 – Property prices rise, causing CAP rates to drop in secondary and tertiary markets on the heels of a boom of investment activity.