the Editors of Commercial Property Executive
164-Key Hyatt Place Hotel Opens in South Durham; Historic Property Conversion in Mebane to Bring 157 Apartments
A new limited-service Hyatt Place hotel is now open for business near Southpoint mall in Durham.
Chris Pesek: Millennials Are Facility Management’s Future; They Just Don’t Know It (Yet)
Facility management has an aging workforce (average employee age of 49, six years above the U.S. general working population average)—but it doesn’t have to be that way. A recent JLL survey shows that only one percent of Millennials are studying facility management, yet they report values, skills and aspirations consistent with a career in this industry. The research reveals a critical disconnect: an industry offering meaningful careers, young people seeking jobs that make a difference in the world—and a lack of awareness of one another. As companies face a Baby Boomer retirement wave, the demand for facility management jobs…
CEB Takes 350 KSF at JBG’s Central Place in Rosslyn; 2018 Move is Eyed
The Corporate Executive Board is moving its global headquarters to Rosslyn. On Monday, July 21, CEB announced that, after months of negotiations, it has signed an agreement with the JBG Companies for 350,000 square feet of space at the new Central Place development. The move, however, will take place in 2018.
INTERNATIONAL: LJ Group, Cresco to Develop 552-Unit Student Housing Complex in Berlin
LJ Group has committed a total of $135 million of equity to Cresco Capital Group’s German student housing venture, Cresco Urban Yurt.
INTERNATIONAL: Manhattan-Based Gale Develops South Korea’s Tallest Skyscraper
After eight years of construction, Manhattan-based Gale International has finished building South Korea’s tallest skyscraper, which stands more than 1,000 feet tall and is open to the public.
Seeking 2014 Executive of the Year Nominations
CPE is seeking nominations for the 2014 Executive of the Year awards, and we want to hear from you! With a 16-year history, the CPE Executive of the Year awards recognize leadership, ingenuity, innovation and strategic thinking. Winners have helped shape the industry and guide it through good and difficult times. Determined by a vote among their peers, all top executives from across the industry, awards will include a winner and two honorable mention placements in each of 15 areas, plus an Executive of the Year and a Lifetime Achievement award. Nominations close on August 18, so visit https://www.surveymonkey.com/s/EoTYnomination2014 to…
Building Momentum
By Adrian Ponsen & Maeve Gallagher Almost five years into the current economic expansion, construction is ramping up but in varying degrees across property types. The industrial sector has had a significant uptick in groundbreakings, with more than 121 million square feet under construction today, about 22 percent higher than one year ago and well ahead of office and retail. Office construction continues to increase slowly but gradually, while retail construction volume has barely budged in over four years. Industrial is often one of the first property types to kick off construction during economic growth periods, as its shorter construction…
Successful Negotiation of a Commercial Property Lease
By Randolph T. Mason, CCIM, SIOR, Partner, Commercial Realty Specialists: It needs to be understood that all leases are negotiable.
Scott Smith: Strong Operating Fundamentals, Favorable Financing Contribute to Positive Investment Outlook
PKF Consulting USA, L.L.C. (PKFC)’s recently released results of its annual Hospitality Investment Survey revealed that hospitality investment indices continue to operate at optimal performance levels.
NAREE Special Report: Hines’ Johnson Outlines New Development Preferences
Expect some changes as the commercial real estate development market heats up, Hines vice chairman C. Hastings Johnson told the audience at the NAREE conference in Houston.
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