News
Palm Beach Mixed-Use Asset Sells for $20M
HFF marketed the 18,712-square-foot retail and office building on behalf of the seller, Tricony Management. The property is located within the five-building Via BiCE complex.
Economy Watch: Industrial Still Likely to Benefit from Free Trade
While the Trump administration plans to bolster U.S. exports and reduce imports, a trade war with China or a U.S. withdrawal from NAFTA are unlikely, which bodes well for industrial development and absorption, according to a recent Cushman & Wakefield research report.
Regency Centers Plugs Plans for Chicago Project
The 270,000-square-foot development will be located in Vernon Hills, 30 miles outside of Downtown. The company has already commenced construction and expects to open in late 2018.
Institutional Investors Upbeat About CRE, but Cut Commitments Anyway
A report based on the latest survey by Institutional Real Estate Inc. and Kingsley Associates indicates that U.S. players plan to commit $62 billion in commercial real estate this year.
Compton Industrial Space Completely Leased
UPS took more than 500,000 square feet of space at the LEED Gold-certified Brickyard South Bay in September. Best Buy is now taking up the rest with the signing of a 10-year contract.
Crown Realty Dives into Hot Toronto Market
The firm acquired a 252,000-square-foot office building on behalf of its third fund, Crown Realty III LP, and other co-investors.
Houston Retail Center Trades with Help from HFF
The company secured a $38.2 million loan for the 410,121-square-foot retail center on behalf of the new owner, while at the same time representing the seller in the transaction.
Suburban Office Stayin’ Alive
Despite the common narrative about the downfall of the suburban office market, the sector has actually been steadily improving since after the Great Recession, according to a recent CBRE report. Improving demand and lower supply levels have kept vacancy rates low and absorption high.
$91M Delta by Marriott Comes to Metro Dallas
The 300-key hotel, recently acquired by Altera Development, will begin construction later this month and is slated for completion in late 2018.
Starwood Capital to Acquire Austin’s Forestar Group
The Forestar board unanimously approved the $605 million merger, which is expected to close in the third quarter of 2017. The firm has been reducing its debt and exiting non-core assets for the last 18 months.