Commercial Real Estate News Roundup For May 16, 2014
A DC building goes public, $3 billion in deals in Chicago’s first quarter of 2014, a car wash moves for many millions, and malls grasp for ballast. It’s all in this week’s Commercial Real Estate news roundup.
- Bay Area ranks as the best commercial real estate market in the country, again, Silicon Valley Business Journal, May 7, 2014 – SF pulls ahead of SV in the NoCal battle of commercial real estate markets.
- Commercial property sales jump 59 percent in first quarter, Crain’s Chicago Business, May 12, 2014 – Chicago’s 2014 kicked off with the best start to the year since 2008.
- 4 things that might choke Orlando’s real estate recovery, Orlando Business Journal, May 9, 2014 – Aren’t worried about what technology might do to your long term plans? Cap rate compression not bugging you? Maybe you should take another look.
- Downtown LA carwash owner cleans up in sale estimated at $25 million, LA Times, May 8, 2014 – Three decades of scrubbing and waxing come to an end with a giant payday in LA.
- Connecticut Ave. building may be first to have its own IPO, Washington Post, May 9, 2014 – Real estate securitized on Wall Street is news as old as REITs, but here’s a new wrinkle: buying stock in a single building.
- $200 million project will add two towers to Dallas’ Uptown, Dallas Morning News, May 8, 2014 – At the corner of Field and Cedar Springs, watch for a vertical growth spurt.
- Google to make biggest property purchase of year, paying as much as $250M for office park, Silicon Valley Business Journal, May 8, 2014 – $625 a sq. ft is impressive enough. Now imagine 400,000 square feet.
- REIT pays $7 million for Carlstadt warehouses, North Jersey, May 6, 2014 – When you buy warehouses, where do you store them? Often enough, in REITs.
- Large industrial project in north Houston to break ground, Houston Business Journal, May 12, 2014 - Trucking and Texas: together at last. (Okay, kidding about that one.)
- Time for retailers to re-evaluate their store footprint — one size does not fit all, Forbes, May 6, 2014 – Lifestyle categories are expanding floor space while durable goods retailers are shrinking. (Your market’s mileage may vary.)
- Struggling malls suffer when Sears, Penney leave, WSJ, May 12, 2014 – Ships without anchors drift: malls without anchors do the same.
- Construction boom may lead to lower rents, Houston Chronicle, May 6, 2014 – Supply and demand continue their eternal dance in Houston’s apartment market.
- Speculators hoping to convert corn to subdivisions, Crain’s Chicago Business, May 12, 2014
- Austin real estate professionals speak out on land code reform proposals, Austin Business Journal, May 9, 2014