Business Specialties
Institutional Investors Upbeat About CRE, but Cut Commitments Anyway
A report based on the latest survey by Institutional Real Estate Inc. and Kingsley Associates indicates that U.S. players plan to commit $62 billion in commercial real estate this year.
Compton Industrial Space Completely Leased
UPS took more than 500,000 square feet of space at the LEED Gold-certified Brickyard South Bay in September. Best Buy is now taking up the rest with the signing of a 10-year contract.
Crown Realty Dives into Hot Toronto Market
The firm acquired a 252,000-square-foot office building on behalf of its third fund, Crown Realty III LP, and other co-investors.
Houston Retail Center Trades with Help from HFF
The company secured a $38.2 million loan for the 410,121-square-foot retail center on behalf of the new owner, while at the same time representing the seller in the transaction.
$91M Delta by Marriott Comes to Metro Dallas
The 300-key hotel, recently acquired by Altera Development, will begin construction later this month and is slated for completion in late 2018.
Starwood Capital to Acquire Austin’s Forestar Group
The Forestar board unanimously approved the $605 million merger, which is expected to close in the third quarter of 2017. The firm has been reducing its debt and exiting non-core assets for the last 18 months.
To Cut Property Taxes, Mind Those Lease Structures
Tax Day tips from an attorney that could help reduce your bill: Be precise, be flexible, and don’t wait until it’s too late to find legal help.
Hyatt Hits the Beach in Virginia
Located at 2705 Atlantic Ave., the 19-story, 156-key hotel is the first Hyatt-branded hotel in Virginia Beach. The property lies in close proximity to the Virginia Beach Convention Center, Virginia Beach and Norfolk military installations, and Virginia Beach Town Center.
Rockefeller Group Finds Manhattan Elbow Room for Deloitte
Headquartered nearby in Rockefeller Center, the global consulting firm is expanding into 1221 Avenue of the Americas. Since the start of a three-year renovation in 2013, the trophy tower has tallied more than 1.5 million square feet in new leases and and renewals.
Boston’s Center Plaza Commands $365M
Synergy Investments and GreenOak Real Estate are the new owners of the 741,200-square-foot office and retail property, which comprises three interconnected buildings near Boston City Hall.