News
Economy Watch: Eds and Meds Help Sustain Markets in Down Times
A solid base of education and medical jobs can smooth out volatility in certain commercial real estate sectors during recessionary times, according to a new analysis from CBRE.
Hyatt Hits the Beach in Virginia
Located at 2705 Atlantic Ave., the 19-story, 156-key hotel is the first Hyatt-branded hotel in Virginia Beach. The property lies in close proximity to the Virginia Beach Convention Center, Virginia Beach and Norfolk military installations, and Virginia Beach Town Center.
Cite Partners Assists Denholtz Associates in Three Orlando Deals
In the first quarter of this year, Cite Partners acquired an industrial portfolio and leased two office and flex properties located in the Central Florida market.
CMBS Delinquencies
Delinquencies continue to drop year-over-year from March 2016 to March 2017. Multifamily delinquencies had the largest decline of 46.1 percent or $392 million.
Investment Sales
CBD and suburban office represented 31 percent of the total transaction volume, and mid- and high-rise and garden apartments represented 33 percent in the past year.
Rockefeller Group Finds Manhattan Elbow Room for Deloitte
Headquartered nearby in Rockefeller Center, the global consulting firm is expanding into 1221 Avenue of the Americas. Since the start of a three-year renovation in 2013, the trophy tower has tallied more than 1.5 million square feet in new leases and and renewals.
LA Airport’s $1.6B Makeover Advances
Granite Construction wins a key contract for the Midfield Satellite Concourse project, which will add 750,000 square feet and 12 new gates at the nation’s second-busiest airport.
Economy Watch: Retail Sales Edge Down in March
While sales were down for the month, they gained ground in the first quarter, up 5.4 percent compared with the same quarter in 2016, according to the Census Bureau.
Office Condo Tower Tops Off in Coral Gables
Co-developed by TSG and BF Group, Ofizzina is scheduled for completion in the fall and will offer 54 offices, three ground-floor retail spaces, a rooftop terrace and more than 300 parking spaces.
Savills Studley Secures Office Space for Pillsbury in Miami
The international firm is expanding its presence in Miami with the signing of a 10,566-square-foot lease at the LEED Platinum certified Brickell World Plaza.