Commercial Real Estate (CRE) News

  • Canyon Capital Funds Pacific City Center

    HUNTINGTON BEACH, CA—In this UPDATE , the real estate direct-investing arm of Canyon Partners LLC commits to a $37-million mezzanine construction loan to DJM Capital Partners for the development and leasing of the lifestyle retail center.

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  • Maintaining Pricing Discipline, Strong Demand

    SAN FRANCISCO—Locally based Digital Realty Trust’s competitive advantage lies in its standardized, replicable product and ability to steadily add capacity in each of its major growth markets, says one analyst.

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  • Pacific Industrial Moves on 744,032-SF Facility

    FONTANA, CA—GlobeSt.com EXCLUSIVELY learns that the Long Beach-based investment firm will complete Sierra Pacific Center by the first quarter 2015.

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  • Natixis Signs Major Lease at 888 Boylston

    BOSTON—Natixis Global Asset Management has signed on to be the anchor tenant at Boston Properties’ 888 Boylston St. office tower here and will relocate its US corporate headquarters from 399 Boylston St.

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  • NJ Environmentalists Slam Tuxedo Casino

    TUXEDO, NY—The Genting Group’s $1.5-billion proposed Sterling Forest Resort, which is now under consideration by the New York State Gaming Commission for a casino license, has drawn fire from environmentalists over the border in New Jersey for its potential impact on the Garden State’s drinking water.

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  • NJ Investor Bids $30M+ For Philly Nursing Home

    PHILADELPHIA—A Lakeland, NJ-based investment group that specializes in acquiring distressed nursing homes has agreed to serve as the stalking horse bidder in the sale Deer Meadows Retirement Community, which filed for bankruptcy protection in April.

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  • El Rancho Combines Art, Affordable Housing

    PHOENIX—ICON Builders is breaking ground on El Rancho, located at 719 E Main St. in Mesa. El Rancho will combine affordability with the local artistic community to create a home for Mesa families.

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  • CBRE Adds Key Leader

    PHOENIX—CBRE Group, Inc. announces that Geoffrey Harris has joined the firm’s Capital Markets’ Debt and Structured Finance team as senior vice president. Harris is a high performing financial services professional with more than 15 years of mortgage banking experience.

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  • Marriott Warner Center Fetches $90M

    WOODLAND HILLS, CA—Laurus Corp. acquires the 16-story, 474-room hotel and plans to invest an additional $10 million in upgrades and renovations to the hotel’s common areas and guestrooms.

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  • Sofitel Opens New Hotel in Mexico

    MEXICO CITY—Sofitel Mexico Reforma features 290 room including 61 suites and includes restaurants and spa.

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  • Why Apollo Bank Acquired First Bank of Miami

    MIAMI—The move will nearly double the bank’s asset base, expand its lending capabilities and add to its existing branch networks across Miami-Dade County.

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  • Why Wynwood is Turning Lender Heads

    MIAMI—As Wynwood continues heating up, lenders are placing bets on retailers there. Get the latest commercial real estate news from the Downtown Miami neighborhood.

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  • FelCor Unwinds JVs, Owns Four TX Hotels

    DALLAS—FelCor will use proceeds from future and pending asset sales to repay debt and complete our balance sheet restructuring plan, says Richard Smith, president and CEO.

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  • Turner Valley Names New CEO, Chairman

    HOUSTON—Stephen C. Helms will be responsible for the launch of the company’s merger and acquisition plans.

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  • Google Searches Out Space in Its Own Building

    NEW YORK CITY—Eastdil Secured's Doug Harmon, who sold 111 8th Ave. to Google in 2010, tells GlobeSt.com, "With rents at 111 8th Ave. and in the surrounding area rising rapidly, and vacancy in the area being almost nil, it makes sense that Google would expand in its own building."

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  • Mystery of ARCP’s Success? No Mystery, Says Kay

    NEW YORK CITY—Although its rapid growth may be hard to fathom from a distance, “everything we do is directed toward a singular objective: to create value for our shareholders,” said the net lease REIT’s president on a Q2 earnings call.

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  • Mack-Cali 2Q Leasing Tops 587,000 SF

    EDISON, NJ — Mack-Cali leased 587,245 sf of space in its office and office/flex commercial real estate properties in Northern and Central New Jersey during the second quarter.

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  • Colliers Inks 18,768-SF Lease for Insurer

    RUTHERFORD, NJ—Colliers International has arranged a long-term, 18,768 SF lease for Clermont Specialty Managers, a commercial property/casualty insurer, at the Meadows Office Complex at 301 Route 17 North here.

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  • Kislak Closes Largest MF Sale in Monmouth Since '12

    BRADLEY BEACH, NJ — The Kislak Company, Inc. has closed the largest multifamily property sale in Monmouth County since 2012, with the sale of Bradley Beach Village, a luxury rental property with 42 residential units and five retail spaces in Bradley Beach, New Jersey.

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  • GSA Narrows FBI HQ List to Three Sites

    WASHINGTON, DC—It took more than a year, but the General Services Administration has released its short list of possible locations for a new FBI headquarters.

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  • City’s Largest Supermarket to Open Thursday

    BALTIMORE—In what officials say is an important sign for the Howard Park section of Baltimore, the city’s largest supermarket, a 67,000-square-foot ShopRite store, will open its doors for the first time on Thursday.

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  • Clal Buys Harper Court for $112 Million

    CHICAGO—In this UPDATE on Harper Court, the Israeli insurance company has acquired its third US property and its second in Chicago.

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  • REITs Rock the First Half of 2014

    WASHINGTON, DC—The interest rate fears REIT investors had last year are completely settled.

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  • JLL Names Kouri CMO, Americas

    CHICAGO—Kouri takes the marketing helm not long after the company changed its name in an attempt to build a more memorable brand in the roughly 75 countries where it operates.

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  • JOSS Taps Realty Mogul for Georgetown Plaza

    WASHINGTON, DC—This was Realty Mogul's first DC project as it expands throughout the East Coast, Jilliene Helman tells GlobeSt.com's Erika Morphy.

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  • Ritz Banc Nabs 2 Chantilly Offices

    CHANTILLY, VA—The company is buying the properties with Lincoln Property at "an excellent price," Nasr El Hage Jr. tells GlobeSt.com's Erika Morphy.

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  • Whole Foods Breaks Ground in IN

    CHICAGO—In this UPDATE , Regency Centers Corp. has scored one of the most sought-after grocers for its new Shops on Main development.

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  • Energy Boom Transforms Real Estate

    WILLISTON, ND—In this UPDATE , Bruce Rutherford, the director of JLL's oil and gas practice, explains how the fracking boom is impacting real estate and where the biggest changes will take place.

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  • Why Greenlaw Wanted City Parkway Collection

    ORANGE, CA—The ability to add to nearby owned assets was only one of the reasons why this property appealed to the firm, Greenlaw Partners’ Wil Smith tells GlobeSt.com in this UPDATE to an earlier story.

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  • Iconic Hotel to Receive Major Redo

    ANAHEIM, CA—Scalzo Hospitality Inc. plans to replace the 86-room Park Vue Inn, a third-generation, family-owned hotel near Disneyland, with a 162-room, mixed-used building designed by MVE & Partners.

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