Regions
Eds and Meds Spur Growth in Pittsburgh
Despite a slowly shrinking population, the city’s multifamily market remains steady, bolstered by increased hiring in recession-resistant sectors. Through May, rents rose 0.3 percent, trailing the nation’s 1.5 percent rate, Yardi Matrix data shows.
Duong Retail Closes Inland Empire Record Sale
The company closed escrow on a retail center in Riverside, Calif., and a Black Bear Diner in Chino, Calif., for a total of $9.9 million, at a record cap rate.
CBRE Hotels Expands Northwest, Mountain Practice
Julie Purnell joins the firm as managing director, bringing more than 25 years of experience in strategic planning, business development, acquisition and disposition due diligence, development and asset management in the hotel sector.
Matthews Adds Daniel Withers as SVP
Industry veteran Daniel Withers brings more than 18 years of experience. He will continue the strategic expansion of the company’s footprint.
Celebrating 30: Robert Maguire Shapes DTLA
We’re celebrating our 30th anniversary by highlighting some of the most significant events in commercial real estate’s history. This week: Developer Robert Macguire III’s impact on downtown LA. Stay tuned for our weekly posts and follow along with us using the hashtag #CPETurns30.
Dedeaux Breaks Ground on LA Industrial Campus
Dubbed Echelon Business Park, the 247,000-square-foot development will comprise seven free-standing buildings ranging from 27,438 to 43,166 square feet.
Stos Partners Buys Rare San Diego Industrial Asset
The two-building complex is situated in Chula Vista, Calif., a submarket which is benefitting from exceptionally tight vacancy in neighboring National City.
Perennial Ponders $1.2B Sale of Singapore Skyscraper
A group of investors led by Perennial Real Estate Holdings is contemplating the sale of the AXA Tower, the city’s sixth-tallest building located in the central business district.
Economy Watch: Economy Adds 209K Jobs in July
July was a fairly good month for job growth, with employment increasing in food services and drinking places, professional and business services, and health care, all of which spur commercial space absorption, according to the Bureau of Labor Statistics.
Irgens Ready to Build 350 KSF Milwaukee Office Tower
The developer acquired the BMO Harris Bank building and plans to develop a new 25-story BMO Harris Financial Center—where the bank will serve as anchor tenant—on an adjoining parking lot.