Commercial Real Estate News

• NJ-Based Net Lease REIT Raises $455 Million in IPO June 22, 2018
  Cushman & Wakefield isn't the only commercial real estate firm testing the public markets this week. Essential Properties Realty Trust, Inc., a real estate investment trust that owns and manages triple-net, single-tenant commercial properties, raised $455 million by offering 32.5 million shares at $14. The $14 per-share offering was at the low end of what […]
• White House Backs Privatizing Fannie, Freddie as Part of Sweeping Government Reorganization Proposals June 22, 2018
  Image credit: The White House In an unexpected move yesterday, the White House released a wide-ranging set of recommendations for reorganizing several federal agencies. The 132-page report covers government-wide reorganization proposals that could have major impacts on the real estate industry as the report stakes out the administration's positions calling for more private sector involvement […]
• Amazon’s London Hub on the Block for $412 Million June 22, 2018
  Pictured: 60 Holborn Viaduct, EC1. LONDON -- Hines has instructed Cushman & Wakefield and Knight Frank to sell the building in London’s Midtown for a net initial yield of 4% - a capital value of US $1,744 (£1,315) per square foot. The asset, at 60 Holborn Viaduct, EC1, is expected to tick all the boxes […]
• Hot Hotel Selling Season: Three Chicago-Area Hotels Sold; Another on the Block June 22, 2018
  Pictured: The James Hotel, acquired earlier this month by Junius Real Estate Partners in an $83.1 million deal.Hotel properties in downtown Chicago and the suburbs have been changing hands and refinancing loans as the industry has enjoyed a prosperous streak this year, thanks to record tourism numbers and robus
• Amazon-Occupied Office Buildings Continue to Set Seattle Sales Records June 21, 2018
  Amazon's Roxanne Building set a Seattle sales record for pricing when it was acquired by LaSalle Investment Management for $992 per square foot in May. One unique aspect of the Seattle office market is the outsize influence on pricing that a single tenant can have. Not surprisingly, in this market's case that tenant is Amazon. […]
• Patrinely Group Pulls Permit for 30-Story Office Tower at Block 162 in Downtown Denver June 21, 2018
  A Houston company has pulled its first construction permit for the foundation of a long-anticipated project in downtown Denver. Plans for Patrinely Group’s Block 162 project were first floated in early 2016 as a 32-story office and hotel development on 15th Street between Welton and California streets. Updated marketing materials reflect slightly less ambitious plans […]
• Soon-To-Be Vacated Plano Campus Could Create New 'Legacy East' for Investors June 21, 2018
  A sprawling Plano office campus, which once housed H. Ross Perot's Electronic Data Systems, has landed on the market in hopes of attracting global investment interest to the fast-growing suburb of Dallas. The 1.6 million-square-foot, 97-acre office campus at 5400 Legacy Drive in Plano being marketed by CBRE could attract bids of roughly $125 million, […]
• Retailers Score Major Win as Supreme Court Rules States Can Charge Sale Tax On Internet Purchases June 21, 2018
  Pictured: Westfield Century City, Los Angeles. In a decision welcomed by mall and shopping center landlords, the U.S. Supreme Court today narrowly ruled that states can collect billions of dollars in sales tax from online retailers like Wayfair, Overstock.com and other e-commerce sellers. By a narrow 5-4 decision, the justices ruled in favor of South […]
• San Diego’s East Village Bubbling with New Social, Dining Spaces June 21, 2018
  The Block D office project in San Diego’s East Village is nearing completion and recently landed digital marketing agency Basic as its first tenant. Credit: BNIM. Multiple new apartments and restaurants are coming o
• Workspace Property Trust Wraps Up $1.3 Billion Refinancing from JP Morgan Chase June 20, 2018
  One Liberty Corporate Center in Edina, MN, is Workspace Property Trust's largest office building. When we last checked on Workspace Property Trust, a private real estate investment firm led by former Mack-Cali Realty executives Thomas Rizk and Roger Thomas focused on buying and operating suburban office space, things were not looking too good. In November […]

NY / Southern CT Commercial Real Estate News

• New York Office Rent Growth Continues Dismal Performance in First Half of 2018 June 18, 2018
  The New York metropolitan area’s office rents have flat lined in the first half of 2018, following a nearly 1 percent dip in 2017. Recent performance is a far cry from the early years of the recovery, when annual gains topped 5 percent for five consecutive years from 2011 to 2015. Asking rents are about […]
• HB Nitkin Group Pays $8.5M for Waterbury Office Bldg. June 11, 2018
  HB Nitkin Group, a Greenwich, CT-based investor and developer, purchased a 65,000-square-foot office building at 160 Robbins St in Waterbury, CT from a private investor for $8.5 million, or about $131 per square foot. Originally built in 1918, the three-story property was renovated in 2009 and boasts a mix of medical and office tenants. The […]
• Owner Secures $53M Refi on Broadmoor Apartments in Hamden May 21, 2018
  The owners of the Broadmoor Apartments at 676 Mix Ave. in Hamden, CT have secured a $53 million loan to refinance existing debt on the property. Shaya Ackerman and Shaya Sonnenchein with the New York City office of Meridian Capital Group arranged the financing on behalf of the borrower, placing the loan with GM Equities. […]
• Ginsburg Development, Robert Martin Secure Financing for Financial Center Redevelopment in White Plains May 21, 2018
  Ginsburg Development Companies LLC and Robert Martin Company LLC secured $120 million in acquisition and construction financing for its Westchester Financial Center at 50 Main St. and 1-11 Martine Ave. in White Plains, NY. David Krasnoff and Ryan Flannery with the capital markets group at Avison Young arranged the financing on behalf of the borrowers. […]

Hartford Commercial Real Estate News

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