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The company has sold a 28% stake in its Manhattan office and multifamily portfolio and entered into a contract to sell 112 self storage assets for more than $1.3 billion.
This is the industry's first and largest securitization backed exclusively by commercial property-assessed clean energy/C-PACE and was issued for 82 US properties (pursuant to rule 144A of the Securities Act of 1933).
“The nature of work is changing; today's employees require flexibility and inspiration within their workday routines,” says Mark Vollbrecht, principal for ZRG.
Many retailers have been successful by being nimble, forward-looking and willing to embrace changing consumer preferences, Todd Rollins with TH Real Estate tells GlobeSt.com.
As the commercial real estate credit cycle gets further along, rents and prices have shown signs of slowing and in some markets, even declines and some properties are getting caught in the undertow.
With Toys R Us shuttering this year, there is concern about how landlords will backfill boxes, but with a 3.5% vacancy rate, the problem in OC is moot.
Under the agreement with an affiliate of Verizon, the telecommunications firm will lease approximately 70% of the planned 627,000-square-foot Class A office tower at 100 Causeway St. for a 20-year term.
Internet penetration varies considerably across geographies such as in DFW, which remains a hotbed of retail activity with a number of new construction projects planned for this year and 2019.