News
Condor Hospitality Picks Up 3 More Hotels
The REIT takes another step forward in its portfolio repositioning effort with the addition of a 366-key group of Texas properties. The assets traded for almost $60 million.
Vornado Completes DC Spin-Off, JBG Smith Begins Trading
The resulting company has an operating portfolio of about 20 million square feet. The firm also has a pipeline of roughly 18.3 million square feet of potential development density.
Brennan Investment Unveils 1 MSF Chicagoland Tech Campus
The 85-acre Elk Grove Technology Park project near O’Hare International will deliver four speculative industrial and data center facilities. CBRE is in charge of leasing.
Uncertainty About Retailers Affecting Mall Deal Activity
In the second quarter of 2017, shopping center deal flow fell at a rate greater than any other major asset class, fueled by concerns about the changing face of retail and whether individual tenants will be able to withstand the impact of e-commerce, notes Yardi Matrix Associate Director of Research Paul Fiorilla.
Discount Self Storage Lands New Owner
The 578-unit facility in Shreveport, La., was acquired by a Salt Lake City-based buyer. The property offers climate-controlled and traditional storage space.
Burton Construction Breaks Ground on 25-Acre Business Park
The local commercial construction company has begun working on the 25-acre Lockwood Business Park. Completion is scheduled for early 2018.
Mission Capital Arranges Acquisition Financing for Houston Hotel
The New York City-based company arranged a $15.3 million acquisition loan for the 120-key Staybridge Suites Houston—Medical Center in Houston.
Industrial Property Trust Nabs 104 KSF Asset
The company purchased the property in the Rancho Dominguez submarket of Los Angeles County for $12 million and has a $2.5 million renovation underway.
Equinix Invests $42M in SY4 Data Center Expansion
Phase two of the International Business Exchange data center will feature 1,500 additional cabinets, bringing the facility’s total capacity to 3,000. Delivery is scheduled for year-end 2017.
Embassy Suites by Hilton St. Augustine Tops Off
Set adjacent to Anastasia State Park, the resort boasts 535 feet of ocean frontage and will feature 175 rooms. Phase II will include an additional 90 to 100 accommodations.