Alex Girda
Alex is a senior editor with Multi-Housing News and Commercial Property Executive who has more than a decade of experience in the industry. Mainly focused on data-driven exploits, he works with Yardi Matrix and CommercialEdge to provide insights into the real estate market.
Demand for Space in the Bay Area Continues as Three Large Leasing Deals are Inked
The Bay Area’s office market has been one of the highlights of the national real estate market in recent years, and due to the lasting appeal with the tech industry, the trend seems to be going strong. Three large leases were recently inked in San Francisco and San Jose, the largest urban centers in the tech-oriented region.
Las Vegas Wins $28M in Affordable Housing Incentives; Relaxed Laws for Medical Marijuana Could Spur Space Demand
By Alex Girda, Associate Editor About $28 million in federal financing for affordable housing is headed to Las Vegas. Under the New Markets Tax Credits program, investors will get incentives to invest in development targeting residents at the lower end of the income scale. According to The Las Vegas Review-Journal, Senate Majority Leader Harry Reid […]
Del Monte Warehouse in Alameda Set to Become New Mixed-Use Project by Tim Lewis Communities
Redevelopment is always a hot topic, especially when landmarks are involved. Tim Lewis Communities is reportedly set to breathe new life into an Alameda staple and turn it into a mixed-use community and new space on nearby land. Located along the Oakland-Alameda Estuary, the waterfront property in question is a former Del Monte warehouse that will be turned into a new community.
Master-Planned Communities Line Up at the Starting Gate
After it was recently revealed that Downtown Summerlin is set to put one of the most ambitious master-planned projects in the entire Las Vegas Valley to the test of commercial real estate this fall, a number of long-dragged master-planned communities across the Las Vegas area are also closer to becoming reality after successfully exiting the uncertainty created by the fallout of the market crash.
Cornerstone Real Estate Advisors, Hammer Ventures Make Big Buys
San Diego’s commercial market is continuing its path of ramped investment activity as Cornerstone Real Estate Advisors LLC and Hammer Ventures partnership recently moved to acquire major properties. Cornerstone is now the new owner of the North County Corporate Center, while the partnership involving Hammer Ventures has acquired the Torbati Building.
Essex Property Trust Expands Seattle-Area Portfolio with Purchase of Collins on Pine
By Alex Girda, Associate Editor In the latest real estate transaction involving a Seattle-area apartment property, Essex Property Trust acquired a high-end residential asset in the Pike/Pine neighborhood for $29.6 million. The upscale community Collins on Pine was in high demand, according to the Puget Sound Business Journal, but the seller, a limited liability company […]
Marcus & Millichap Arranges Sale of Two Playa Vista Retail Properties for $16.9 Million
Marcus & Millichap’s Encino office recently arranged the sale of a two-property retail portfolio for a total of approximately $16.9 million. The two shopping spots are located in the L.A. submarket of Playa Vista. The acquisition was arranged by Marcus & Millichap, Vice President investments, Brandon Michaels and Janette Monfared, an associate with the Encino office. The seller is an affiliate of Brookfield Residential.
NorthMarq Capital Provides $52 Million in Financing for San Diego M-F Complex
The Tierrasanta Ridge Apartments in San Diego recently received $52 million in financing, arranged by NorthMarq Capital. The deal was brokered by a NorthMarq team that included Marty Meagher and Gardiner Champlin. The financing is based on a 10-year term and 30-year amortization schedule and was funded through the provider’s AmeriSphere Fannie Mae DUS platform.
Asurion to Open Call Center in North Las Vegas; U-Haul Opens Self-Storage Facility
North Las Vegas is set to receive a considerable economic boost as Tennessee-based tech company Asurion LLC recently announced it is expanding operations in the area. The tech insurance provider will reportedly open a new office in North Las Vegas and will create around 800 new jobs in the next five years. Asurion will hire approximately 500 people in the following year alone, as its opens a call center in an office property located near U.S. Highway 95 and the Las Vegas Beltway.
Hines, Oaktree Acquire Triton Towers in Renton
One of Renton’s best known office assets recently traded hands as a partnership between Hines and a real estate fund managed by Oaktree Capital Management purchased Triton Towers. The buyer reportedly paid a fee of around $60 million for the property, making it one of the largest deals to be completed in the area.