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Reducing Energy Consumption in CRE: ULI Report
The Urban Land Institute’s Greenprint Center for Building Performance just released Volume 8 of the Greenprint Performance Report, which indicates that commercial building owners and managers are making significant progress in decreasing energy consumption, water usage and carbon emissions.
Forest City to Begin Work on SF’s Pier 70
The project will include both new construction and adaptive reuse of historic structures and will also expand access to a part of San Francisco’s waterfront that has been underutilized and largely inaccessible for more than a century.
Hotel Construction Pipeline for US, Africa, Middle East: STR Report
The hotel market data and benchmarking firm’s October 2017 Pipeline Report saw some slowing in the U.S. hotel construction, with cities like New York, Houston, Los Angeles and Seattle seeing year-over-year decreases in construction of hotel rooms.
Facebook to Add 1.8 MSF to Los Lunas Data Center
The social media company announced a second expansion to its Los Lunas Data Center project in New Mexico, increasing the total size the facility to 2.8 million square feet and the development cost to $1 billion.
Rubenstein, Northpoint Embark on NoVa Mixed-Use Renovation
The revamps of Carlyle Tower and the Shops at Carlyle Tower include elevator, HVAC and common area upgrades as well as an additional 7,500 square feet of new space.
Summit to Buy Four Hotels for $164M
The company expects to spend approximately $7 million to $9 million in capital improvements over the next two years. This off-market transaction will bring Summit’s year-to-date acquisition activity to nearly $600 million.
Most Expensive High Streets in the World: C&W Report
The global real estate services firm released the 29th edition of its “Main Streets Across the World” report, which tracks 451 of the top retail streets, ranking the most expensive in 68 countries by their prime rental value.
Compass Planning 750 KSF NoVA Data Center
The 106-acre site is currently undeveloped, except for two agricultural buildings, a gravel parking area and gravel roads. True North Data is currently awaiting approval from the Loudoun County Board of Supervisors.
Portland’s Tallest Office Tower Changes Hands
Starwood Capital Group has extensive renovation plans for Wells Fargo Center to bring it back to its former status as one of the most iconic Class A office towers in Portland. CBRE and Kidder Mathews will lease the tower.
At Long Last, a Measure of Mezzanine Loans
Investors in high-yield real estate now have a way to compare their returns and performance against an industry-standard benchmark, thanks to John B. Levy & Co.’s creation of the first mezzanine loan index.