Regions
Baltimore-Area Industrial Asset Changes Hands
The property in Elkridge last traded in 2004, when Matan Cos. acquired it for $6.7 million. The building served as the headquarters of Kane Co., which filed for bankruptcy and vacated it in 2016.
Bay Area Office Campus Changes Hands
PCCP LLC and Align Real Estate formed a joint venture to acquire Walnut Creek Center, a two-building, 236,122-square-foot, Class A office facility. The new owners plan to invest approximately $3 million in capital upgrades.
Fuze Relocates HQ to Boston
The 51,000-square-foot space at 2 Copley Place will house 300 employees, with enough room to accommodate twice as many workers as the company grows.
Hunt Mortgage Expands to Phoenix, Hires New VP
Matthew Frank was named vice president of the company’s Small Balance Loan Group, where he will be responsible for sourcing and closing Freddie Mac small balance loans.
Economy Watch: Internet Sales Continue Robust Growth
The growth of e-commerce sales has been steady over the last decade, including during the recession, hitting $105.7 billion in the first quarter of 2017, according to the U.S. Census Bureau. Conventional retail sales, on the other hand, saw its most anemic quarterly growth since the onset of the recession.
LA-Area Retail Asset Trades for $20M
Marcus & Millichap facilitated the transaction of the 111,830-square-foot Walmart-anchored center in Norwalk on behalf of the seller, Newmark Merill Co.
WPG, O’Connor Close Second Retail JV
Washington Prime will continue to lease and manage the 2 million-square-foot portfolio, which comprises seven open-air shopping centers valued at $600 million.
Caves Valley, Greenberg Gibbons Team Up in Maryland
The companies are investing $350 million in the construction of a 1.2 million-square-foot project that will bring office, retail, luxury residential, student housing and a hotel to downtown Towson.
Retail Scuffles, But All Is Not Lost
News of retail bankruptcies and store closings might be making the most headlines, but retailers and retail owners that can adapt to changing consumer preferences and compete with the rise of e-commerce can still prevail, argues Yardi Matrix Analyst Justin Dean.
Economy Watch Weekly: Retail Sales, Inflation Rise in April
The U.S. economy saw a boost in retail sales and the consumer price index in April, which could increase the chances of the Federal Open Market Committee deciding to raise interest rates at its June meeting.