News
CBRE Report: Most Economical Markets for Leasing Data Centers
With the growing dependency on cloud computing, demand for leased data center space is on the rise, and the costs can vary drastically from market to market, according to “Leasing a Data Center: U.S. Market Cost Comparison,” a new report by CBRE Group.
NYC Sees Strong RE Investment, Leasing Activity
New York City holds strong to its reputation as the world’s largest real estate investment market.
New York-Based Developer Plans 280-Unit Student Housing Complex Near LSU
The hot Baton Rouge apartment market continues to attract more and more developers to the area. Recently, a New York-based student housing company has announced its plans to build a 280-unit apartment complex on a site located just outside the South Gates of the LSU campus.
Smoothie Factory Expands in Tucson, Adds 6 Juice Bars in Arizona
The Smoothie Factory Juice Bar franchise commenced a major expansion program that kicks off with the addition of seven new locations in Arizona. The first store is already under construction at the University of Arizona. The company has awarded the multi-unit development agreement to franchisee John Wilfert, of JW Health and Fitness, LLC, who also owns the existing Smoothie Factory at 1st Avenue in Tucson.
Bankruptcy Auction Set for 59-Unit Self-Storage Facility Stormax USA in Albuquerque
Albuquerque-based self-storage facility, Stormax USA, has filed for bankruptcy. As a result, the property will be sold through a live auction on November 24. SVN Auction Services’ Louis B. Fisher III, CAI, is leading the auction efforts. Written bids are due November 21 and will sell to the highest bidder per the court order.
INTERNATIONAL: W. P. Carey Buys 31 Australian Industrial Properties for $138M
W.P. Carey has completed yet another international acquisition, closing a 20-year sale-leaseback deal with Inghams Enterprises Pty. Ltd., for a portfolio of 31 properties in the Australian market.
Killam Buys 152-Unit Rental Property in Ottawa
Killam Properties has acquired the 152-unit Kanata Lakes Apartments II, a newly-constructed luxury rental building in Kanata, Ontario, in the outskirts of Ottawa.
The Chiofaro Co. Receives $500M in Financing for Boston Office Complex
The Chiofaro Co. and an institutional partner have received $500 million in financing for International Place, a 1.8 million-square-foot, Class A trophy office complex located in Boston’s Financial District.
BCRE Acquires 627 Greenwich St. in Manhattan for $106M
Brack Capital Real Estate has closed on its $106 million purchase of a vacant, 12-story commercial building at 627 Greenwich St. in Manhattan’s West Village.
Economy Watch: Oil Prices, Small Biz Owners
The Energy Information Agency is predicting lower oil prices next year. Small Business Optimism Index was up in October by 0.8 points.