Globest Sectors

Spirit Airlines plans to build a $250 million, 500,000-square foot corporate campus at the REIT's Dania Pointe mixed use project.

After renovating the units, the seller was able to grow rents over its three-year hold period.

Madison International Realty, a real estate private equity firm, has closed on the recapitalization of a $275M multifamily portfolio in New York. The deal includes Urban American, an apartment operator who will continue to manage the 15 properties.

Asking rents in Philadelphia's core contracted over the quarter, but were still higher from earlier in the year, according to the Savills report.

"So often, the industry wants to reduce building efficiencies and electrical efficiencies but the building's carbon footprint is rarely considered."

The new hires will be led by Newmark Knight Frank senior managing director and NKF V&A market leader for Illinois, Kansas and Missouri, John Mackris, MAI, MRICS, CCIM.

The bond program will provide funding for projects such as ADA accessibility, major building renovations and new construction projects.

Industrial and multifamily will remain the darlings of the commercial real estate markets, while office will fall behind.