Regions
Hong Kong Tops List of Most Expensive Office Locations
Cushman & Wakefield research shows the city has replaced London’s West End as the most expensive to accommodate staff.
New JV to Build 120 KSF CA Self-Storage Facility
A joint venture of Miami City Self Storage and Cypress Equity Investments will develop its first facility in Inglewood, Calif. Self-storage lending REIT Jernigan Capital has invested $28.7 million in the project.
ezStorage Opens 1st Alexandria, VA, Location
The company has opened its first self-storage asset in the D.C.-area city, after completing construction in one year using a $12 million loan. The three-story facility totals 132,423 square feet.
Economy Watch: 3Q GDP Revised Upward
The Bureau of Economic Analysis revised its estimate for real U.S. GDP growth for the third quarter, with increased economic growth in nonresidential fixed investment, including commercial real estate.
Westcore Properties Nabs Industrial Portfolio in San Bernardino, CA
The two fully leased properties in the booming Inland Empire industrial market add to the company’s growing industrial footprint in the region.
Macerich Snags $86M for Chicago Office Asset
Located at 500 N. Michigan Ave., the 326,000-square-foot tower features 24 floors and last underwent cosmetic renovations in 2009. The property is situated adjacent to Macerich’s The Shops at North Bridge.
Reno Distribution Center Changes Hands
JLL’s Capital Markets represented California State Teachers’ Retirement System and Panattoni Development Co. in the sale of a 423,001-square-foot Class A industrial property to LBA Realty.
Hospitality Ventures Completes Phoenix Hotel Renovation
The Embassy Suites by Hilton Phoenix North has opened its doors north of the city center, following extensive renovation work.
McGrath to Build St. Louis Warehouse for US Paint
The $5 million project will be conducted in two phases and will replace the existing manufacturing facility. The property will comprise a new office space, maintenance shop, quality control lab and more.
Economy Watch: Consumer Confidence at 17-Year High
The Conference Board’s latest Consumer Confidence Index reached a new high of 129.5, indicating consumers are feeling optimistic about the U.S. economy.