Razvan Cimpean
Private Investment Group Snags Denver Office Asset
Red Tail Acquisitions sold Belcaro Place, a 154,000-square-foot property, to private investment group F6F. The property was 97 percent occupied at the time of sale.
Waste Management Relocates Phoenix Branch
The environmental services firm will move its local branch to Union Hills Office Plaza by the end of the year. Waste Management selected Perkins+Will to design its new location.
Airbnb Going Strong in Texas
According to AirDNA data, three major Texas metros are witnessing an important growth in Airbnb user adoption. Austin, Houston and Dallas have seen the total number of listings increase by as much as 90 percent year-over-year in October.
Airbnb Faces Adoption Slowdown
A recently published report by Morgan Stanley shows that Airbnb’s initial utilization rate prediction for 2017 will only be reached by the end of next year. In the light of the platform’s struggles to maintain the momentum gained in 2015 and 2016, online travel agencies gain significant ground.
JV Snags 232 KSF Dallas Office Building
Red River Asset Management sold Hidden Grove in Dallas to a joint venture between Reserve Capital Partners and Trinity Private Equity Group.
Lane Partners Acquire Walnut Creek Office Building
NKF brokered the sale of Station Plaza. The three-story asset is part of the Contra Costa Transit Village, a 2.4 million-square-foot mixed-use project.
The Shops at Starwood Expand in TX
Whitestone REIT opened the third phase of The Shops at Starwood in Frisco, Texas. Multiple retailers and restaurants will set up shop in the new space, including Beverly Hills Rejuvenation Center, Oasis Accents and Up Inspired Kitchen.
West Palm Beach Office Campus to Undergo Renovation
Belvedere Acquisition selected NAI Merin Hunter Codman to oversee the renovation and rebranding of Palm Beach International Plaza, a two-building office campus in West Palm Beach, Fla.
Boston-Area Office Portfolio Lands $23M Refi
Working on behalf of KS Partners, Washington Trust secured $22.5 million in financing for a three-building flex/office portfolio in Newton, Mass.
Transwestern JV Buys Seattle-Area Office Park
Equity Office Properties Trust sold Redmond Hilltop, a 178,769-square-foot office campus in Redmond, Wash., to a joint venture between Transwestern and Diversified International Partners.