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Commercial Real Estate News

In this section we've added RSS feeds from several commercial property news sources.

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CoStar
Somewhat lost in the wave of store closure announcements last year was news that another major user of retail space abandoned a record amount of square footage. U.S. banks accelerated their pace of branch consolidation last year, closing a net 2,069 locations, an 18% increase over the net number closed in 2016. The net number of closed branches amounts to about 10.46 million square feet of retail space closed based on the average size of existing...
Toronto was the only Canadian market among 20 cities in North America to make the next cut for Amazon's HQ2, but the Seattle-based company would face a tight market if it ultimately chooses the country's largest metropolis for its second headquarters, say industry watchers. "There is no space, so somebody will be building them a building," said Paul Finkbeiner, president of GWL Realty Advisors, which has 19 million square feet in office space and...
Credit: Amazon.com Amazon (Nasdaq: AMZN) issued a short list of 20 metropolitan areas making the next cut in the competition to host the company’s second North America headquarters. This top 20 were narrowed from 238 proposals Amazon received from across the U.S., Canada, and Mexico in an unprecedented bidding process to host the company’s second North America headquarters. Amazon said it will work in coming months with each of the candidate...
After announcing plans a year ago to split its hotel business into separate firms, Blackstone-controlled La Quinta Holdings Inc. (NYSE: LQ) reached a deal this week to sell its hotel franchise and management businesses to Wyndham Worldwide Corp. (NYSE: WYN) for $1.95 billion. As part of the agreement, immediately prior to the sale La Quinta will spin off its owned real estate assets into a publicly-traded REIT to be called CorePoint Lodging. The...
Apple unveiled its new visitor center in Cupertino near Apple Park last November. Credit: Apple Inc. Just a few months after opening its 2.8 million-square-foot circular headquarters campus in Cupertino, CA, Apple Inc. today announced plans to build a third U.S. corporate campus and hire 20,000 workers as part of a $30 billion capital-spending program over the next five years. Apple said in a release that it will announce the location of the...
      
National Real Estate Investor
The market for hotel rooms keeps getting better for hotel operators.
The new U.S. tax law erodes the historic-building credit that developers have long used to help finance historic building renovations, the Wall Street Journal reports. The Atlanta Business Chronicle highlights 18 new U.S. commercial real estate developments. These are among today’s must reads from around the commercial real estate industry.
WeWork is eager to expand beyond month-to-month desk rentals.
H&M’s problems partly stem from its slowness to adapt to a digital age in which consumers increasingly shop online.
In 2017, publicly-traded REITs in the industrial, data center and infrastructure sectors outperformed the other general REIT categories.
      
Wall Street Journal
Work on an 800-foot-tall tower in East Midtown that has been under construction for six months was halted last week following a vote by the New York City Council to limit skyscrapers in the area,.
Mall owners long treated gyms, massage parlors, and billiards halls as unwanted tenants that attracted lower-rent visitors who were unlikely to shop. Now they’re giving health clubs some of their best real estate.
Asking rents for New Jersey office space are nearing records as landlords undertake extensive renovations and fill older properties with top-notch amenities.
Brookfield Property Partners LP has made a $14.8 billion offer to acquire the shares of mall owner GGP Inc. that it doesn’t already own, according to people familiar with the matter.
Oak Tree Road, known as “Little India,” has been transformed from a rundown and desolate area to a booming ethnic business district that attracts South Asian customers from Maine to Maryland.
      
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