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AREA15 to Bring Immersive Retail, Entertainment to Las Vegas
Real estate development firm Fisher Brothers and creative agency Beneville Studios have teamed up to deliver the 126,000-square-foot project by late 2019.
NorthMarq Arranges $157M Loan for Bay Area Office Project
Borrowers Bohannon Development Co. and Alexandria Real Estate Equities will use the financing to develop the 521,000-square-foot Phase II of Menlo Gateway, which will be occupied by Facebook.
Liberty Property Trust Sells Office Building at Philly Navy Yard
The $130.5 million acquisition of a building that’s fully leased to pharma giant GlaxoSmithKline marks the second major purchase for Korea Investment Management in Philadelphia.
‘War for Talent’ Drives CRE Activity in Dallas-Fort Worth
DFW’s business-friendly environment, quality of life and well-educated labor pool help attract companies to the region, which has an unemployment rate running below the national average.
Is It Time for a Change?
Does your property need an update? Or have you recently completed some construction? This month, Commercial Property Executive and Kingsley Associates partnered to find out what tenants think of renovations.
Blackstone to Buy Gramercy Property Trust for $7.6B
The transaction will add more than 80 million square feet of high-quality industrial properties to the private equity giant’s holdings.
How Does Labor Shortage Impact CRE?
As of January, there were 6.3 million unfilled jobs in the U.S., up 16 percent from 2017. In its report Where Are All the Workers?, JLL notes unfilled positions can lead to lower rents and increasing vacancy across property types.
Del Frisco’s Expands With $325M Acquisition
The steakhouse restaurant chain has agreed to purchase the Barteca Restaurant Group, which consists of 31 locations operating across 10 states and Washington, D.C.
New World Plans $2.5B Mixed-Use Project in Hong Kong
The property will encompass 3.8 million square feet of retail, entertainment and office accommodations at Skycity, a 60-acre commercial development at Hong Kong International Airport.
Thor Equities, Meyer Bergman to Sell London Retail Asset for $407M
Considered a landmark since its completion in 1819 as Britain’s first shopping arcade, Burlington Arcade features 37,000 square feet of space and attracts more than 4 million visitors a year.