Torrey Square posted the lowest base rent per-leased-square-foot in Whitestone’s wholly-owned portfolio. Since its IPO in 2010, Whitestone has improved its base rent per leased square foot by over 80%.
The Austin, TX-based hotel REIT also reports that it has closed on the sale of the 148-room Hyatt Place Fort Myers/at the Forum in Fort Myers, FL for $16.5 million or approximately $111,000 per key.
The Chicago and NYC areas are most susceptible, while other markets along the East Coast are vulnerable as well.
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Digital transformation has become a business imperative. As CRE shifts from an asset lease to a service delivery model, data-driven decision making will continue to mature. Download this eBook for a roadmap and best practices to achieving the benefits of digitization.
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