Commercial Real Estate News

• New Tax Provisions Open Gates to $250 Billion in Property Investments September 19, 2018
  One of the least publicized provisions of the federal Tax Cuts and Jobs Act signed into law last December will be getting a lot more attention in coming weeks. The provision has the potential to stimulate a new round of investment in commercial real estate, mostly in struggling urban, suburban, and rural communities across the […]
• Fayetteville, North Carolina, Evacuates Downtown Ahead of Potentially Catastrophic Flooding September 19, 2018
  A small plaza submerged under several feet of water marked the start of flooding Tuesday in the aftermath of Hurricane Florence. Photo credit: Paul Owers, CoStar Group On the edge of downtown Fayetteville, North Carolina, the flooding from Hurricane Florence started at the Cape Fear Botanical Garden and over
• Port Covington Developers Open 'Chapter 1' With or Without Amazon September 19, 2018
  Aerial of the Port Covington development in Baltimore. Credit: Taylor Damm, CoStar Group Spurned by Amazon, Baltimore's one-time suitor for the online giant's so-called HQ2 outlined its newest plans for a sprawling site on the city's waterfront. Sagamore Development representatives appeared before the city's Urban Design and Architecture R
• New Jersey Bill Aims to Help Vacant Malls, Office Parks September 19, 2018
  The Burlington Center mall at 2501 Mount Holly Rd. in Burlington, New Jersey, is one of the properties that New Jersey lawmakers say could be helped by a new bill. New Jersey lawmakers are making a new legislative push to help rid the state of its vacant and half-empty malls and office complexes, properties that […]
• Did You Hear? Colin Connolly’s New Job Follows an Old Path September 19, 2018
  Colin Connolly is taking over one of Atlanta’s best-known real estate investment trusts.Connolly has been named chief executive of Cousins Properties, and his primary mission will be a familiar one: Creating value through the development of, and investment in, prime office properties.Cousins Properties, founded in 1958 by legendary developer Tom Cousins and his father Ike […]
• Exclusive: Triple Five To Acquire Prime Beverly Hills Site September 18, 2018
  Rendering of the One Beverly Hills project for Wanda Group. Triple Five Group Ltd., the Canadian developer of the Mall of America, is under contract to buy one of the prime development sites in Beverly Hills, California, from China-based conglomerate Dalian Wanda Group. The Edmonton-based company, led by the Ghermezian family, has agreed to purchase […]
• Fayetteville, North Carolina, Watches Rivers Rise Amid Curfew, Spotty Power, Boarded Up Businesses September 18, 2018
  Even 90 miles inland in North Carolina, businesses were closed in Fayetteville in the wake of Hurricane Florence. Photo credit: Paul Owers, CoStar Group In Fayetteville, North Carolina, 90 miles west of the worst of Hurricane Florence, sandbagged and boarded-up businesses were closed, rivers were risi
• Multifamily Developers Contribute to Downtown Cleveland’s Renaissance September 18, 2018
  The Residences at Leader in Cleveland. Multifamily developers are playing a large role in downtown Cleveland’s revitalization as they continue to transform the city’s many blighted properties into updated, multifamily communities. By taking advantage of federal tax incentives that reduce the risks for organizations to redevelop aging assets in recovering markets, many developers are feeling […]
• Singapore's CapitaLand Storms Into U.S. Apartment Market with 16-Property, $835 Million Purchase September 18, 2018
  The Ashton Apartments in Corona, California is one of 16 properties being acquired by CapitaLand in an $835 million deal.Singapore’s CapitaLand Ltd. is entering the U.S. apartment market with a splash, buying an $835 million portfolio of rentals in western states amid increased investment from overseas real estate owners and managers to take advantage of […]
• Downtown L.A.'s Biggest Booster to Retire After 30 Years September 18, 2018
  Downtown Los Angeles promoter Carol Schatz plans to retire from the Downtown Center Business Improvement District that she founded almost 30 years ago.Courtesy of Carol Schatz Downtown Los Angeles advocate Carol Schatz is retiring at the end of the month as president of the Downtown Center Business Improvement District that she founded and led for […]

NY / Southern CT Commercial Real Estate News

• Fayetteville, North Carolina, Evacuates Downtown Ahead of Potentially Catastrophic Flooding September 19, 2018
  A small plaza submerged under several feet of water marked the start of flooding Tuesday in the aftermath of Hurricane Florence. Photo credit: Paul Owers, CoStar Group On the edge of downtown Fayetteville, North Carolina, the flooding from Hurricane Florence started at the Cape Fear Botanical Garden and over
• With Sales Booming, Small-Town Apartment Brokers Benefit September 17, 2018
  The 331-unit Elliston 23 in Nashville.Brett Kingman is too busy to talk about how busy he is. That's because he's an apartment real estate broker in a smaller city, where investors are flocking these days in search for more upside than major markets like New York. Kingman’s a senior vice president at brokerage CBRE, specializing […]
• Long Island-Based Developer Buys Bronx Warehouse in Redevelopment Play September 17, 2018
  Developer Heatherwood Luxury Rentals purchased a 31,500-square-foot warehouse at 288-310 Walton Ave. in the Bronx from FBE Limited LLC for $16.8 million, or about $533 per square foot. Although details were not disclosed, the Commack, New York-based company is planning to redevelop the single-story warehouse, originally built in 1931, into a multi-story mixed-use development. Mark […]
• Emerald Equity Group Sells Four Bronx Apartment Complexes for $24.7 Million September 12, 2018
  Investment firm Emerald Equity Group sold four apartment buildings in the Bronx to a private investor for $24.65 million, or about $194,000 per unit. The Manhattan-based investor originally acquired the four properties in part of a 37-building transaction in March 2016, according to CoStar data. The four properties in the sale include two 25-unit properties […]
• Former Mack-Cali Chief Rudin Named President of Savills Studley September 10, 2018
  Mitchell E. Rudin, a veteran New York real estate executive who previously held senior positions at CBRE, Brookfield and Mack-Cali Realty Corp., will join Savills Studley as its next president, succeeding Michael Colacino who is stepping down at the end of 2018. Former Mack-Cali Realty Corp. Chief Executive Mitchell Rudin, who abruptly departed the New […]
• 1 Gateway Plaza Trades for $6.3 Million September 10, 2018
  Mikaela Management, Inc. sold 1 Gateway Plaza, a four-story office building in Port Chester, New York to Delaurentis Management Corp. for $6.25 Million. The sale also includes an adjacent 23,000-square-foot site available for future development. Located off of South Main Street, 1 Gateway Plaza was originally built in 1984, but was renovated in 2002. The […]
• Continental Properties Secures $39.6 Million Construction Loan for Mid-Rise Apartment Complex in Trumbull September 5, 2018
  Multifamily developer Continental Properties secured a $39.6 million construction loan for its 202-unit Trumbull Lofts project in Trumbull, Connecticut. Washington Trust's commercial real estate group provided the construction financing for the developer. Located at 100 Oakview Drive, the 202-unit apartment complex is set to feature 119 two- and 83 one-bedroom floorplans. The units will be […]
• Another Connecticut Apartment Complex Trades for North of $100 Million September 5, 2018
  Investors are fueling a small boom in Connecticut apartment sales. AJH Management, a New Jersey firm that has been on a buying spree as of late, has paid $108.5 million for the Crown Point Apartments at 50 Saw Mill Rd. in Danbury, Connecticut. The sale follows last week’s closing of the Town Walk in Hamden […]

Hartford Commercial Real Estate News

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