Southeast

Mark J. Parrell has been appointed president effective immediately and will take over as CEO upon Neithercut's retirement.

Brokerage firm CBRE reported the sale of the 466-unit property at 50 Saw Mill Road that was built in two phases (2007 and 2011).

The sale consists of a contractual sales price of $185 million and the release of $3.5 million in member deposits. The total consideration represents approximately $521,000 per key, RLJ Lodging reports.

Demand from large cloud users resulted in more data center leasing activity in Northern Virginia in the first half of 2018 than the rest of the primary data center markets combined, according to CBRE's latest U.S. Data Center Trends report.

Transwestern estimates that total demand for medical office space across the US could range from 150.5 million square feet to 225.8 million square feet by 2019.

As office space shrinks, the tech performance of the space becomes more important, i.e., dedicated Internet access, connectivity to private cloud networks and secure connection to offshore centers.

Experiential water features are becoming “the next big thing” in quality retail projects as a way of driving consumer traffic.

IOV remains in acquisition mode, seeking to acquire $100 million in assets over the next 12 to 24 months—with a five-year plan to amass more than $500 million in product type.