NREI Staff

Articles by NREI Staff
Store Opening Plans are at Five-Year High, Survey Says
The retailers in RBC Capital Markets’ database reported plans for 41,713 new store openings in the next 12 months.
California's Transbay Transit Center Is Under Construction
One of the largest train stations ever built in America is well underway.
Major South Korean Investor Makes First Foray into Chicago
Mirae Asset Global Investments has entered into the Chicago market with the South Korean-based investor's purchase of 225 W. Wacker.
GGP, TIAA-CREF Enter Partnership to Own The Grand Canal Shoppes
General Growth Properties Inc.and TIAA-CREF formed a partnership to own and operate The Grand Canal Shoppes, including The Shoppes at the Palazzo in Las Vegas.
CBRE's Torto to Keynote Commercial Real Estate/High Net Worth Investment Conference
NREI and Penton’s WealthManagement.com announced Dr. Raymond Torto, CBRE global chief economist, will be the lunchtime keynote speaker at the Commercial Real Estate/High Net Worth Investment Conference on Thursday, June 27.
DDR to Acquire Select Prime Power Centers from its Blackstone Joint Venture for $1.46B
DDR Corp.will acquire a portfolio of prime power centers from its existing joint venture with Blackstone Real Estate Partners VII.
IKEA Surpasses 85% Solar Presence at U.S. Locations
IKEA surpasses 85 percent solar power for its U.S. buildings. In other news, the U.S. Government Services Administration officially advocates sustainable building. JPMorgan Chase joins NYC Mayor's Carbon Challenge. And Partners Group invests in a green building alternative to Hong Kong Island's offices.
PNC Bank, Bank of the West Provide $150M Construction Loan for Village at Meridian
The Village at Meridian is scheduled to be completed by the fall of 2013.
Ares Management to Acquire AREA Property Partners LP
Ares Management will acquire AREA for an undisclosed amount.
WS Development to Build 500,000-SF Outlet Center in Connecticut
WS Development, Tremont Realty Capital plan new outlet centers.
KeyBank Acquires Bank of America’s, Berkadia’s Special Servicing Units
The transactions will make KeyBank the third largest special servicer of commercial/multifamily loans in the United States.
Hines Fund Sells Two Manhattan Buildings for Combined $1B
A subsidiary of Hines U.S. Core Office Fund L.P. selected an institutional fund managed by American Realty Advisors as the buyer of 499 Park Avenue, and institutional investors advised by J.P. Morgan Asset Management as the buyers of 425 Lexington Avenue.
Duke Realty Sells Pembroke Gardens Lifestyle Center for $188M
The firm will use sale proceeds to acquire an industrial portfolio.
Bernards’ New LEED Silver HQ Reflects California’s Green Building Push

California is often touted as the most environmentally progressive state in the nation—and given the state’s new Net Zero Energy (NZE) initiative, that isn’t surprising.

NZE status requires that buildings generate as much energy as they consume, without creating a carbon footprint. California’s goal is ambitious: the state aims to reach statewide NZE status for all new commercial buildings by 2030 and residential buildings by 2020.

Stoltz Real Estate Buys Las Vegas Community Center in $50.5M Deal with Regency
The 512,325-sq.-ft. center features Home Depot, Toys 'R' Us, Ross Dress for Less, Staples and Michaels as anchors.
Latest poll

Total CMBS Issuance Volume

There has been $30.3 billion in new CMBS issuance to date in 2013, according to Commercial Mortgage Alert. That puts the industry on pace to smash last year’s volume of $48.4 billion and will make 2013 the busiest year for CMBS issuance since 2007. Where do you think total CMBS issuance volume will end up in 2013?

 

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