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DALLAS-The first third-quarter report for the office market comes out the door. Truth is, there are very few surprises. For the first time, the Julien J. Studley research team isolates some numbers for the trophies.
WHITE PLAINS, NY-The Hudson Valley's busiest developer--Louis Cappelli--has purchased a site across the street from his $320-million City Center at White Plains development and plans to develop a $300-million mixed-use project there.
SAN ANTONIO-The city is vying against four others in the US for Toyota's fifth manufacturing plant in North America. Naturally, suitors from all levels of government are out in full force as offers get laid on the table.
OAKLEY, CA-The Oakley Redevelopment Agency has extended exclusive negotiation agreement with Capital Partners Inc. for a planned Civic Center plaza development in the Downtown area.
SEATTLE-One of the largest multi-tenant buildings west of the Mississippi at 1.8 million sf, the building blends retail, office, warehousing, manufacturing and distribution functions. It is home to 50 tenants including Starbucks, which keeps its world headquarters in the building.
CULVER CITY, CA-An industrial building converted to office space commands $150 per sf, the highest price per sf paid for an industrial conversion. The previous high for that type of building was about $135 per sf.
WATERFORD TOWNSHIP, MI-Summit Place has a 40% vacancy rate, but the Los Angeles-based owners believe they'll have a $50-million redevelopment plan in place by Thanksgiving that will turn its fortunes around.
PHILADELPHIA-A "Mills Makeover" is in store for Cincinnati's 1.5-million-sf Forest Fair Mall. Arlington, VA-based REIT Mills Corp. will renovate the 12-year-old property to fit the "festive" format of its existing mall portfolio and rename it Cincinnati Mills.
CHICAGO-A team of veteran with impressive resumes take over leasing and managing of the 1.3-million-sf Chicago Board of Trade Building, where nearly 30% of the space is available. Owner CBT Corp. had managed its building in-house.
CHICAGO-The recession is just the latest threat to regional malls' health that has been beaten back, says Indianapolis-based Simon Property Group chief executive officer David Simon, joining mail-order, big-boxes and the Internet.