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Celebrating 30: The Rise of CMBS
We’re celebrating our 30th anniversary by highlighting some of the most significant events in commercial real estate’s history. This week: The birth and rise of CMBS. Stay tuned for our weekly posts and follow along with us on social media using the hashtag #CPETurns30.
Workforce Trumps Location in Industrial Site Selection
Access to skilled employees has moved to the top of the list for manufacturing tenants looking for space, knocking the location factor out of first place, according to the latest CoreNet report.
West Coast’s Tallest Building Open for Business
Korean Air and Hanjin Group developed Wilshire Grand Center, a $1.1 billion skyscraper, which brings offices, a luxury hotel and convention space to downtown Los Angeles.
Vornado Speeds Up JBG Smith Spin-Off
Common shares of the new REIT—which will trade on the New York Stock Exchange under the symbol JBGS—will be available starting July 18.
Detroit: Far From Singing the Blues
After years of little multifamily supply, development is beginning to pick up, with more than 4,000 units under construction. Rents increased 4.2 percent year-over-year as of April, Yardi Matrix data shows.
The Domain Thrives in Austin
TIER REIT is about to begin construction on a 324,000-square-foot, 16-story office building within the booming live-work-play community on the city’s northwest side.
NKF to Market 3.3 MSF Twin Cities Development
Viking Lakes will add office, retail, hospitality, multifamily, medical office and a sports medicine center to Eagan, Minn.
AHIP Closes $407M Hotel Portfolio Purchase
The Canadian REIT is the new owner of the Eastern Seaboard Portfolio, a collection of 18 Marriott and Hilton properties in Maryland, New Jersey, New York, Connecticut and Pennsylvania.
St. Louis Gears Up
Despite a slowly declining population, the city continues to see positive economic trends. Developers ramped up apartment deliveries in 2016, when 1,370 units came online, according to Yardi Matrix.
Hines Nabs Sacramento Office Tower in $120M Deal
The transaction included not just the Kaplan McLaughlin Diaz-designed downtown building, but the attached 800-space parking structure and the 350-space parking facility as well.