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Cash, Stock and the REIT Market: Investment Opportunities Lie Ahead
Investment opportunities are increasing today, but many remain still to be realized, according to discussions during yesterday’s NYU Schack Institute of Real Estate 16th Annual REIT Symposium. Panelists noted that flexible investors may find better opportunities with a little more creativity.
REITs Rule Today’s Market—Under the Right Circumstances
It’s a good time to be a REIT, but the opportunities today are not for everyone. That was the message from speakers at the NYU Schack Institute of Real Estate 16th Annual REIT Symposium, hosted yesterday at the Pierre Hotel in New York City.
Panasonic Relocates, Expands in SoCal
In need of more elbow room, Panasonic Corporation of North America took an entire building within Anaheim, Calif.’s 2,300-acre Anaheim Canyon Business Center industrial park. The company signed a lease with the landlord, Panattoni Development Co., to make its new home in the 300,000 square-foot Anaheim Concourse Distribution Center.
Atlantic | Pacific Lands Florida Assignment
The property management firm will attempt to counter the troubles encountered by Las Olas Riverfront, a 244,667-square-foot retail and entertainment complex in Fort Lauderdale.
Economy Watch: Consumers Spend, Home Prices Sink
In a spot of good news for the economy, retail sales were in gear in March, according to data compiled by Thomson Reuters. That came as a surprise to many observers, who had predicted that a late Easter and rising gas prices would cause retail sales to contract last month.
Industrial Income Buys 1.3 MSF Industrial Asset
The Atlanta-area property, which was purchased for $33.8 million, marks the firm’s fourth acquisition this year.
Economy Watch: Shutdown, Foreclosure Changes
With the clock still ticking on the end-of-the-week deadline for funding the federal government for a little longer, Congress continued to bicker about a few billion here and a few billion there. House Speaker John Boehner and Senate Majority Leader Harry Reid were reportedly at the White House for late-night talks with President Barack Obama.
CalPERS to Transfer Portfolio Management
It’s not a done deal yet, but the California Public Employees’ Retirement System recently announced plans to take management responsibilities for its $570 million CalSmart mixed-use real estate portfolio from RREEF and give it to Canyon Capital Realty Advisors L.L.C. The potential reallocation is part of the public pension fund’s ongoing real estate restructuring strategy.
Tenant Takes Entire Industrial Building
The tenant roster at Ontario Distribution Center II in Ontario, Calif., went from empty to full as Pacific Coast Warehouse Co. signed a lease to fully occupy the 411,500-square-foot property.
New Owner for Dallas Office Complex
Bluffview Towers, a two-building office complex in Dallas, is now part of Commercial Developments International Inc.’s portfolio. The real estate firm acquired the 196,300-square-foot property from Capstar Real Estate Advisors and an institutional partner.