Featured
Regency Centers to Begin Development on 378 KSF Grocery-Anchored Retail in California
There is a gap in Class A shopping center offerings in a neighborhood in Petaluma, Calif., less than 40 miles outside of San Francisco, and Regency Centers is planning to help fill it. This week, the REIT kicks off construction of the 378,000-square-foot East Washington Place with an investment of $61 million.
SL Green Closes Sale of NYC's 390 KSF 10 E. 53rd
SL Green continues its busy year with the $252.5 million purchase of the 390,000-square-foot office tower at 10 E. 53rd St. in Midtown Manhattan. The REIT followed the closing with the sale of a 45 percent interest in the Class A building to Canada Pension Plan Investment Board for $57.4 million.
CBRE Lines Up $181M Financing for D.C. Office Project
CBRE Capital Markets has arranged $181 million in financing for the first two phases of Sentinel Square, an office development in Washington, D.C., that will eventually total 1.3 million square feet. CBRE arranged the funding on behalf of Trammell Crow, Crow Holdings Capital Partners and Cottonwood Partners.
Digital Realty Trust Adds 819 KSF of Data-Center Property for $123M
Continuing on its pattern of purchasing high-quality data centers, Digital Realty Trust has made the acquisition of the 819,000-square-foot Convergence Business Park in Lewisville, Texas, just outside of Dallas. The 168-acre complex, which is fully operational and features office space, was purchased for $123 million.
Economy Watch: Pending Home Sales Edge Up
The NAR’s Pending Home Sales Index was up two points in January. Warren Buffett called single-family homes “a very attractive asset class.” And the market for Italian debt began to abate after the sale of $16.5 billion worth of six-month notes.
Ventas to Sell 64 Healthcare Assets
Ventas Inc. has announced plans to market 64 healthcare properties, which generate $77 million in annual rent and are presently leased to Kindred Healthcare Inc.
Sears' Store Sales, Rights Offering 'A Brilliant Move'
In the wake of the announcement that Sears would be selling 11 stores to General Growth Properties and spinning off two of its brands, industry sources called the actions “a brilliant move.”
NAR: Commercial Vacancy Rates Improving, Rents Firming
In its quarterly Commercial Real Estate Market survey, the National Association of Realtors predicts a widespread fall in vacancy rates for nearly all property types, with multi-family continuing to lead the way.
Economy Watch: Consumers Feeling Better
Consumers continue to feel more upbeat about the economy, according to the latest Reuters/University of Michigan Survey of Consumers. New-home sales were down 0.9 percent in January. And the G20 wants Germany to contribute more to a bailout fund.
Midway, Pension Fund JV on 119 KSF Houston Office-Building Purchase
Midway Cos. and its joint venture partner, a pension fund client advised by L&B Realty Advisors, have sold part of the office segment of their 1.8 million-square-foot City Centre mixed-use development in Houston.