Anca Gagiuc
Anca Gagiuc brings more than a decade of experience within the real estate industry. She is a senior associate editor with Commercial Property Executive and Multi-Housing News who also writes monthly multifamily reports at Yardi Matrix. Contact Anca at anca.gagiuc@cpe-mhn.com
Successful Repositioning Project Nets Record-Setting Price
An extensive renovation process recently resulted in the record-setting sale of a commercial asset near the CBS Television City. The Souferian Group just netted $19.6 million in the offloading of the office property at 8075 W. 3rd Street to buyer Continental Development Inc.
Value-Add Strategy Drives Major Multifamily Buy in N. Austin
Two large value-add properties located in North Austin have changed ownership. The assets were marketed combined as the ‘North Austin 2000’s Portfolio’.
College Grove M-F Deal Points to Community Renewal
Back in 1986, College Grove was one of the main areas of interest for redevelopment and renewal, with the now-defunct Redevelopment Agency focusing on the College Grove Shopping Center area. Now, the area is going through a quickened gentrification process, spurring investment and interest in properties located in the vicinity of the retail center.
Sunbelt Shedding Inventory at a Fast Pace in SoCal
Last year, Sunbelt Enterprises LLC orchestrated an initiative to move a substantial amount of its commercial real estate portfolio. The company started by naming Robert Griffith and Rick Scheckter, both Executive Managing Directors with NGKF Capital Markets, in charge of that effort. Since then, Sunbelt has completed the sale of a considerable amount of the space it put up for sale, culminating with the recent sale of six properties totaling more than 1.1 million square feet of space in SoCal and Las Vegas.
Milpitas Refi Points To Industrial Surge
Even if you had no knowledge of the fact that Milpitas is set to have a growing industrial market, you’d get a hint from the fact that Stephens & Stephens, LLC is refinancing a Class B R&D asset it owns in the area. The Milpitas R&D market’s has been dipping in terms of availability rates and vacancy number over the past few quarters. Colliers International noted that industrial activity in the sector was accelerated during the first quarter, besting last year’s fourth quarter numbers fivefold.
GIX Move to Spring District Cements Puget Sound as Tech Hotspot
The Microsoft-backed Global Innovation Exchange is officially moving to Bellevue, in the under-development Spring District. What a difference a few months makes. Back in April, Bellevue’s position as one of the tech reference points in the Puget Sound area was waning in the wake of Expedia’s announcement that it will move to a Seattle office campus. Now Bellevue has been announced as the future home of the GIX, a venture between the University of Washington and China-based Tsinghua University.
Sunbelt Enterprises Advances Portfolio Makeover
With Sunbelt Enterprises now half way through its portfolio-slicing campaign, the effects are rippling through the Las Vegas real estate landscape. Since last year, NGKF Capital Markets Executive Managing Directors Rick Sheckter and Robert Griffith have been working to ensure the sale of a commercial real estate portfolio totaling roughly 2.1 million square feet of space.
ONE Group Puts STK on the Menu
Texas is about to join the culinary likes of New York City, London, Milan, and Los Angeles. The ONE Group Hospitality announced signing an agreement with commercial real estate investment group World Class Capital Group to open an STK Rebel in Austin and an STK in Dallas.
NAI Capital Closes Sale on Retail Asset in Inland Empire
The former Mervyn’s building at Ridgecrest Town Center in the city of Ridgecrest is under new ownership. The retail asset was acquired from China Lake 700, LLC by Newport Coast-headquartered investor El Rey Properties, LLC.
Right Financing Seals Deal
San Antonio’s apartment market is pretty hot, with sellers pushing new record pricing on quality assets. The latest to confirm the statistics is the sale of Sir Winston Villas Apartments, a boutique multifamily asset located in Northcentral San Antonio.