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Commercial Real Estate News

In this section we've added RSS feeds from several commercial property news sources.

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CoStar
Developer Miguel Pilgram is planning a Memphis Blues lounge as part of a redevelopment effort in Fort Lauderdale’s Sistrunk neighborhood. Credit: The Pilgram Group. Miguel Pilgram was a cruise line security executive and, before that, a Navy man. But he was destined for real estate. "My grandfather sa
Image credit: The Macerich Company Longtime Macerich Co. Chairman and CEO Arthur Coppola today announced plans to retire from the shopping mall REIT he has led for the past 25 years. Coppola will also step down from his position as chairman of the REIT's board and will not seek re-election as a director at Macerich's annual shareholder meeting. His retirement is effective Dec. 31. Coppola joined the company as a founding partner of the original...
In a major multifamily investment sale that extends the record run of investor interest in the apartment sector, Denver-based multifamily giant AIMCO doubled down on the Philadelphia market, buying a seven-property, 1,006-unit portfolio from local developer and operator Dranoff Properties for $445 million. The acquisition boosts AIMCO's ranking as one of the largest owners of apartments in the Philadelphia market, along with local rival PMC Property...
Despite record liquidity, demand for commercial real estate loans softened in recent months, leaving eager lenders chasing fewer borrowers. As a result, competition among lenders has ratcheted up noticeably with loan prices compressing. In fact, deal pricing and structures have gotten so competitive, many of the nation's banks, including its 25 largest cumulatively, are starting to back off from commercial real estate lending. Federal Reserve...
Prologis recently completed shell construction on a new building at Prologis Park Riverside in Phoenix. Warehouse giant Prologis Inc. is ramping up construction and asset sales following healthy first-quarter results powered by brisk leasing and near-double-digit rent growth in the red-hot logistics market. Based on robust demand for modern logistics space by e-commerce and other tenants, San Francisco-based Prologis this week raised the value...
      
National Real Estate Investor
The 380,000-square-foot office complex in San Mateo is fully leased to Tesla and GoPro.
Arthur Coppola joined Macerich as a founding partner in 1976 and has led the company since 1993.
The Associated Press reports that the Kushner Cos. has been subpoenaed by federal prosecutors. Leading economic indicators rose in the U.S. last month, according to the Wall Street Journal. These are among today’s must reads from around the commercial real estate industry.
In an interview with NREI, Matt Pestronk lays out his firm’s relationship with family offices and HNW individuals and describes Post Brothers’ “intelligent risk” philosophy.
Two longtime Wynn Resorts board members, Ray Irani and Alvin Shoemaker, stepped down in the wake of the scandal, with Shoemaker leaving when his term ends in 2019.
      
Wall Street Journal
Normandy Real Estate Partners’ $133 million deal for the upper portion of ABC Carpet’s flagship store is an example of office space edging into territory that once was retail’s domain.
When Chinese regulators seized control of Anbang Insurance, they took ownership of more than a dozen luxury U.S. hotels. Now, as the government looks to sell, it faces a problem: The buildings likely are worth less than what Anbang paid only a couple of years ago.
After a two-year plunge, brokers are optimistic that more deals will take place in 2018.
Work on an 800-foot-tall tower in East Midtown that has been under construction for six months was halted last week following a vote by the New York City Council to limit skyscrapers in the area,.
Mall owners long treated gyms, massage parlors, and billiards halls as unwanted tenants that attracted lower-rent visitors who were unlikely to shop. Now they’re giving health clubs some of their best real estate.
      
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