KKR recognized a five-fold gain on the sale of a stake in a seniors housing business. LinkedIn signed a 450,000-sq.-ft. lease in San Francisco with Tishman Speyer. A ruling that opens the door for CBS Outdoor Americas to launch a billboard REIT bodes well for other potential REIT offerings. GameStop has plans to open between 300 to 400 stores under three brands. Bridgegate has put the fate of the next World Trade Center tower in doubt. These are all among today’s 10 must reads from around the commercial real estate industry....More
Deutsche Bank is reportedly marketing the Cosmopolitan Las Vegas Resort with a selling price north of $2 billion. A Seeking Alpha piece argues that student housing REITs should outperform in 2014. Forbes looks at the burgeoning same-day delivery grocery war that’s emerging between Amazon, Google and Walmart. After failing to crack the America’s grocery market, Tesco is giving the U.S. another crack, this time with an apparel play. These are all among today’s 10 must reads for the commercial real estate sector....More
U.S. CMBS defaults dropped for the fourth straight year, according to a new report from Fitch Ratings. The Miami Herald profiles the family behind Turnberry Associates, the firm that owns the Aventura Mall and Fontainebleau Miami. Struggles at Family Dollar and other chains have analysts wondering whether dollar stores can only thrive in down economies. DSW is launching a new format called Yellow Box. These are all among today’s 10 must reads from around the commercial real estate industry....More
The Wall Street slice-and-dice machine is back in full force and now commercial real estate CDOs—unseen since 2007—are starting to come back according to Bloomberg. Fairway needs to slow down on its ambitious plans if it’s going to succeed. The NMHC has released its annual rankings of the top 50 multifamily owners and managers. JLL is launching a service modeled after Airbnb for the commercial real estate sector. Microsoft is taking space in San Francisco’s largest tower. These are all among today’s must reads for the commercial real estate sector....More
The retail world watches runways for “the next big thing” but commercial real estate looks to the tech sector for inspiration. While traditional companies may not invest in climbing walls, free meals and espresso bars, there’s much to learn from the tech sector’s real estate and workplace practices. After all, tech is leading the way in productivity, innovation and overall growth....More
The Jumpstart Our Business Startups Act (JOBS Act) of 2012 effectively lifted the ban on general solicitation that existed since 1933, opening the door for small companies and investors to directly tap into the market of their choice....More
Colliers International's year-end 2013 port outlook report, "Biggie-Size It," takes a close look at North America's fastest-growing ports, port upgrade projects and the economic implications of labor, legislative and environmental issues, and presents 10 new port awards. What follows is a list of the top 10 busiest and most post-Panamax ready ports in the United States.
Invesco Real Estate has purchased the 24-story, 388,370-square-foot Class A office tower at 101 Second St. in San Francisco’s SoMa district from Hines, the latter’s San Francisco office announced Friday....More
Starwood Capital Group closed 2013 with a bang–a 1.1 million-square-foot bang. The investment firm acquired a portfolio of 12 office properties in San Diego, Calif., from Kilroy Realty Capital for $294.5 million....More
In a $99.5 million deal, California-based Terramar Retail Centers has purchased the newly developed 223,000-square-foot Laulani Village Shopping Center in Ewa Beach, Oahu, from Property Development Centers, a subsidiary of Safeway Inc....More
The engineering team is a critical part of any building team’s success when it comes to sustainability. Here’s just one example: The Mills Building in San Francisco and Shorenstein Realty Services' innovative energy-efficiency program....More
Phoenix-based Vestar recently spent $125.5 million to buy about 65 percent of Orchard Town Center in Westminster, Colo., from Forest City Enterprises Inc., and the buyer plans to upgrade, rebrand and expand the open-air retail property....More
Design features of the apartment tower include wall-to-wall floor-to-ceiling glass, marble and metal facades, a lush podium courtyard, a penthouse pool deck and fitness area, pedestrian-friendly streetscape and a Trader Joe’s and Larder Café on the ground level.
Phoenix-based Vestar Development Co. — one of the largest privately-held shopping center firms in the West — has entered the Colorado market via a $123.5 million joint-venture purchase of a large-scale retail center....More