Commercial Real Estate News

• Smaller Beach Cities From Coast to Coast Ride a Development Surge August 20, 2018
  By Linda Moss, Paul Owers and Jacquelyn Ryan The 12-room luxury hotel known as Vespera on Ocean (pictured) in Central California’s Pismo Beach is one of a number of
• Myrtle Beach Multifamily Rent Growth Among the Highest in the Nation August 20, 2018
  The Latitude at the Commons, a 288-unit apartment complex in Myrtle Beach, South Carolina. With more than 14 million visitors a year, Myrtle Beach, South Carolina, is regularly one of America’s most crowded beaches. But it’s not just tourism keeping the metropolitan area buoyant -- its retirees are causing multifamily rents to soar. Not only […]
• Teterboro Amazon Distribution Center Sells for $147.1 Million August 20, 2018
  Pictured: 698 Route 46, Teterboro, New Jersey. In what appears to be the biggest industrial deal so far this year in New Jersey, a large Amazon distribution center in the Meadowlands region has sold for $147.1 million, a more than 80 percent increase from its $81 million price tag just five years ago. The sale […]
• UBS Sells 1670 Broadway in Downtown Denver August 20, 2018
  The 704,065-square-foot 1670 Broadway building was recently renovated with a four-story podium. UBS Realty Investors has sold 1670 Broadway in downtown Denver, CoStar News has learned from sources close to the deal. The 36-story tower is anchored by financial services firm TIAA, which has a lease for nearly half of the building through 2029, and […]
• Nowhere to Go But Up: First U.S. Multistory Warehouses to Open as Amazon Ponders Airborne Fulfillment Centers August 17, 2018
  Bridge Development and Dov Hertz plan to create a multistory warehouse at this site in Brooklyn, New York.Amazon, the online innovator that changed retailing, now has plans for a futuristic airborne fulfillment center where it would use drones to deliver goods. The e-commerce giant was granted a patent for the concept last month, and it […]
• Highland Capital Buys Dallas' Cityplace Tower August 17, 2018
  Cityplace Tower, the tallest Dallas building outside downtown, has sold to Highland Capital Management in one of the largest deals in the southwestern United States in the past decade. The acquisition of the 42-story, 1.35 million-square-foot tower at 2711 N. Haskell Ave. confirms a CoStar News report from June. Terms were undisclosed, but brokers tied […]
• Minneapolis Unveils Draft Plan of $125M Riverfront Development August 17, 2018
  Upper Harbor TerminalCredit: City of Minneapolis The city of Minneapolis and its master development team are showing off sweeping plans for redevelopment of the Upper Harbor Terminal, 48-acre tract of industrial land running along the Mississippi River. The concept was to be outlined Thursday evening by Minneapolis development firms United Properties, Thor Cos. and First […]
• San Diego Brokers Tackle Empty Big Box Stores August 17, 2018
  This Babies R Us store, spanning 48,000 square feet in San Diego’s Mira Mesa neighborhood, is among the largest of nine locations recently vacated in the local market by Toys R Us. A solution to the nationwide problem of how to fill empty big box store properties is developing in the sun-drenched hills around San […]
• Pimco Joins Crowded Field for Direct Commercial Real Estate Lending August 17, 2018
  Pimco headquarters in Newport Beach, California. The growing U.S. investment pool for financial commercial real estate lending just expanded by another $3 billion as bank and non-bank lenders including investment management giant Pacific Investment Management Co., known as Pimco, broaden their offerings to tap strong demand. Pimco officially launched a real estate debt fund while […]
• Fast-Expanding Facebook to Lease 767,000-SF Bay Area Office Campus August 17, 2018
  Rendering of 300 Airport Blvd. in Burlingame, California. Facebook revealed plans to lease an office campus now under construction in Burlingame, California, a move that would boost the social networking firm's occupied space in the San Francisco Bay Area to more than 7 million square feet. The agreement would mark one of the biggest U.S. […]

NY / Southern CT Commercial Real Estate News

• Investors Feeling Mobile with $134.3 Million Multifamily Buy on Alabama's Gulf Coast August 17, 2018
  A quintet of apartment properties in Alabama's preeminent port city has fetched $134.3 million. Spruce Capital Partners, of New York, and Post Road Group, of Stamford, Connecticut, acquired the five property, 1,972-unit portfolio in Mobile late last month. Cushman & Wakefield’s team headed by Jimmy Adams and Craig Hey brokered the deal for Colony Hills […]
• Bridgeport-Based Investor Picks Up Two Stamford Apartments for $35 Million August 16, 2018
  The Verano, a 58-unit apartment complex in Stamford, Connecticut. Bridgeport, Connecticut-based investor Navarino Capital Management, the investment arm of Navarino Property Group, acquired two Stamford, Connecticut, apartment complexes from locally based RMS Cos. for $35 million, or about $302,000 per unit. The portfolio sale includes The Moderne, located at 163 Franklin St., and The Verano, […]
• Ginsburg Development Secures $31.5 Million Refi for The Metro August 6, 2018
  Ginsburg Development Cos. secured a $31.5 million loan for the 124-unit The Metro at 34 S. Lexington Ave. in White Plains, NY. Proceeds from the loan will be used to refinance the property that is currently undergoing a $92 million renovation. The multifamily property was originally built in 1985 and was purchased by Ginsburg Development […]

Hartford Commercial Real Estate News

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