National
Belk to Invest $40M in New Stores
The company also plans to remodel 12 existing stores across their 16-state footprint, investing close to $10 million. An additional $15 million in funding will be used for capital improvements.
US Industrial Vacancy at Record Lows: Marcus & Millichap
Markets across the United States are seeing continued demand from businesses seeking to expand warehouse and distribution space, particularly for those urban last-mile locations desired by e-commerce tenants.
Celebrating 30: Transwestern, BNP Form Strategic Alliance
We’re celebrating our 30th anniversary by highlighting some of the most significant events in commercial real estate’s history. This week: Transwestern and BNP Paribas Real Estate’s strategic partnership. Stay tuned for our weekly posts and follow along with us using the hashtag #CPETurns30.
Economy Watch: Fed Holds Off on Rate Hike
The Federal Open Market Committee did not increase the cost of borrowing at its latest meeting, citing positive expectations about the labor market, including solid job growth and a declining unemployment rate.
Small Balance Loan Breakdown with Hunt Mortgage’s Matthew Frank
The vice president of Hunt Mortgage’s Small Balance Loan Group explains how the Freddie Mac program can meet and adapt to the various needs of the borrower despite the tight lending environment.
Economy Watch: Virginia Beach, Seattle, Pittsburgh Ranked Top Places to Live
Cities with economic opportunity, easy access to entertainment and dining options, and higher affordability topped Wallethub’s list of the most livable cities in the U.S. Livability helps drive real estate absorption and development in those markets.
Blackstone Buys Clarion Events
Established in 1947, the London-based event organizer boasts roughly 950 employees in 13 offices across the globe. The transaction includes an option for Clarion to reinvest part of the disposition proceeds into the events company.
Economy Watch Weekly: Consumers Less Certain About Economy
Economy Editor D.C. Stribling discusses the University of Michigan’s latest survey of consumers, which recorded a decrease in confidence about future economic prospects.
Peak Campus to Manage 2,000-Bed Student Housing Portfolio
High View Place, Maverick Place, Rebel Place and Spring Place are the four student housing communities that will be managed by Peak Campus. Waypoint Campus Housing LLC acquired the portfolio for $102 million in May.
Economy Watch: Bay Area a Top Market for Tech Talent
While tech workers account for just 3.5 percent of total workers in the U.S., the small labor force has an outsized impact on the real estate market and national economy, and it’s growing, according to a recent CBRE report.