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REDMOND, WA-A little more than a year ago, the company thought its NW Tech Center could fetch $45 million empty. Now $30 million is closer to reality says broker Hans Kemp, unless a strong tenant is secured to boost the value.
AUSTIN-The state capital could shed its stereotype of being under-retailed if development plans shift from the drawing boards to reality in 2002. The Austin market's solid in terms of retailers' interest and capital availability, says a Weitzman VP.
HOUSTON-A wholesale food distributor picks up a good buy, says the broker. All American Trading gets a 30,000-sf warehouse for $375,000, but the best part is that it's located inside the Loop: a "wannabe" location for distributors.
DALLAS-Insignia/ESG is the firm to watch these days in Dallas. The hiring spree continues to glean seasoned professionals from competitors' camps as the in-place team lines up a new 500,000-sf leasing deal with talks under way for another million sf.
PHOENIX-Inside sources tell GlobeSt.com that an eight-building portfolio brings about $22 million for JP Morgan/Sares Regis Group. After four months of talks, Lincoln Property walked off with the 723,940-sf prize portfolio in W. Phoenix and Downtown.
SANTA ANA, CA-The locally based telecom company serving the title and real estate industries has announced that its LDExchange subsidiary will discontinue its wholesale international long distance business.
PONTIAC, MI-With a $2 billion mixed-use development on 80 acres at stake, a judge is expected to rule today on whether a county leader can stop an election that could give annexed land back to Bloomfield Township.
ST. PAUL, MN-The Minneapolis-based developer pays $1 million for the five-story property, former home to Straus Knitting Mills, and plans to convert it to a mixed-use development with 23 of the 50 rental units designated as affordable housing.
CHICAGO-A third condominium project is announced for an area between the Loop and the United Center. The developer of the 101-unit project at 31-39 S. Morgan St. sets aside 10 units in a voluntary affordable housing effort.
SAN DIEGO-The developer and operator of senior facilities has named a new director of sales and marketing to be responsible for occupancy of 1,100 units at 10 active communities in California, Oregon, Arizona and Nebraska, and pre-leasing of three communities with 572 units under construction in California and Oregon.