Commercial Real Estate
Top stories summarized by our editors
8/17/2018

Amazon is envisioning significant changes to the distribution center model, having been granted a patent for an airborne fulfillment center that uses drones for delivery and another pending for a vertical warehouse akin to a skyscraper. While the next generation of warehouses may not match these ideals exactly, Garrick Brown of Cushman & Wakefield predicts: "The evolution in the next 10 years will match what we've seen in the last 40."

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CoStar Group
8/17/2018

The current valuation of FAANG stocks -- Facebook, Apple, Amazon, Netflix and Alphabet's Google -- is roughly half that of the US institutional real estate market in terms of total equity value, according to a report from CenterSquare Investment Management. "Essentially the choice that the market is giving investors today is, would you rather own the five most popular tech stocks in America, or half of all the commercial real estate in this country?" says Scott Crowe, CenterSquare's chief investment strategist.

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Nareit
8/17/2018

MetLife Investment Management and State Street have agreed to originate and service $2 billion in commercial mortgages in an arrangement in which the companies will co-lend each loan. MetLife sees the deal as a step in expanding the reach of its asset manager.

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MetLife Inc.
8/17/2018

Sources say HNA Group is in discussions with B&L Management Co. to sell its stake in Manhattan's 850 Third Ave., which the Committee on Foreign Investment in the US has asked it to sell because it is close to Trump Tower. The deal would value the building at $452 million.

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HNA, HNA, HNA Group, Trump Tower, Trump Tower
8/17/2018

Weyerhaeuser Co. was rated highest among the companies related to real estate and construction in the Management Top 250, a ranking based on Peter Drucker's teachings and compiled by the Drucker Institute. The REIT reached this pinnacle in part because of its social responsibility and innovation efforts.

8/17/2018

Monmouth Real Estate Investment has purchased a 265,318-square-foot FedEx Ground building in Charleston, S.C., for about $47.2 million. FedEx Ground has a 15-year net lease for the new facility.

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GlobeSt
8/17/2018

President Donald Trump has asked the Securities and Exchange Commission to consider allowing public companies to report results to investors on a biyearly instead of quarterly schedule. He says such a move would promote growth and flexibility.

8/17/2018

Taubman Centers is reinvesting in data tools, new store concepts, technology and design. In this interview, operations chief William Taubman explains why the company invested $500 million in its Beverly Center in Los Angeles and how its efforts are already paying off with improved traffic and sales.

8/17/2018

TriGate Capital and RSP Partners have sold LA Fitness-anchored Elliot Plaza in Phoenix to Niki Group for $26.1 million. The 147,469-square-foot property is close to the freeway and a Walmart Supercenter.

8/16/2018

Best Buy will acquire GreatCall, which makes the Jitterbug phone and other technology and services designed to help older consumers stay connected and get help in emergencies, for $800 million. GreatCall booked $300 million in revenue last year and boasts 900,000 service subscribers.

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GreatCall