Regions
Economy Watch Weekly: Economic, Employment Metrics Point to Strong 2018
Reports on the U.S. economy and job growth in the last quarter of 2017 and early 2018 suggest a healthy year ahead for commercial real estate. Economy Editor Dees Stribling discusses the latest data, for the week ending March 2, 2018.
DiamondRock Grows Western Hotel Portfolio
The 242-key hotel first opened its doors in 2012, and is situated in downtown Phoenix, within the 1.2 million-square-foot CityScape mixed-use high-rise.
Penwood Nabs Financing for NJ Industrial Project
The company’s new ground-up development will include some 290,000 square feet of warehouse space located near both New York and the Port of Newark-Elizabeth.
NAI Closes North Jersey Industrial Lease
The tenant, a newly formed industrial tire supply company, will occupy nearly half of the building, which totals more than 65,000 square feet.
KBS Snags $88M Minneapolis Office Tower
Base Management disposed of the 523,000-square-foot Marquette Plaza, which is situated on an expansive 1.5-acre park, the largest green space in the city’s CBD.
Skanska to Build Seattle-Area Schools for $78M
The company signed a contract with the Central Kitsap School District to construct a new middle school and high school in Silverdale, Wash. The facilities are expected to become operational in the 2019-2020 academic year and serve 2,100 students.
Hilton Garden Inn Changes Hands in Maine
Dover Properties LLC sold Hilton Garden Inn Freeport Downtown, a 99-key asset dating back to 2005, located within a 20-minute drive of Portland.
Marcus & Millichap Completes Sale of U Storage OK
The firm represented both the seller and the buyer in the sale of the 134,318-square-foot self-storage facility, located in Edmond, a suburb of Oklahoma City.
Economy Watch: Investors to Buy More US CRE in 2018
Eighty-eight percent of investors responding to CBRE Americas’ new Investor Intentions Survey said they plan to maintain or increase their spending this year.
Green Street Snags SunPower PV Projects in NYC
First up will be a 918-kilowatt rooftop system in Queens, scheduled for an April 1 construction start and completion by late spring.