Industry News
Commercial Real Estate
Top stories summarized by our editors
9/20/2021

All Storage has retained CBRE Group to explore a sale of the business that could bring in more than $1 billion, according to sources. CBRE has starting marketing the firm to potential buyers, the sources said.

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Bloomberg
9/20/2021

JBG SMITH is among a number of REITs charting progress in sustainability, having recently announced that its 16.1 million-square-foot operating portfolio is carbon neutral. This article offers a look at how JBG SMITH achieved this goal and also describes initiatives by Vornado Realty Trust, Boston Properties and Kilroy Realty Corp.

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Commercial Observer
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Vornado Realty Trust
9/20/2021

Real estate funds have gained almost 30% this year, and data shows that almost two dozen REITs have posted total returns of at least 100% during the past 12 months as of Sept. 15. The gains reflect recovery, including in sectors that were hit hard by the pandemic. Nareit's Calvin Schnure notes that, this year, "demand is coming back pretty much across the board."

9/20/2021

CNBC's Jim Cramer highlighted the opportunity available in REITs in the current market climate. "You need a list of safety stocks that hold up as the market goes down that you can buy slowly," Cramer said, offering a list of 10 REITs to consider.

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CNBC
9/20/2021

Prologis bought an industrial park in Las Vegas for $100 million. The five-building, 441,569-square-foot complex was about 82% leased at the time of the transaction.

9/20/2021

Prologis has sold a warehouse in Corona, Calif., for approximately $30 million. Classic Distributing & Beverage Group was the buyer of the 140,000-square-foot property, where it had previously leased 80,000 square feet.

9/20/2021

JLL Income Property Trust has purchased an 87,000-square-foot medical office facility in Richmond, Va., in a $52 million deal with Highwoods Properties. The project was completed in 2018.

9/20/2021

Evergrande, which has a large number of real estate holdings across China, is under pressure from its large debt burden, raising concerns about the potential for significant economic fallout if the company defaults. Some experts think the Chinese government could bail out the business, but the country's government has recently moved to rein in corporate debt.

9/20/2021

The commercial real estate industry is preparing for the possibility of new disclosure requirements related to climate risk and human capital from the Securities and Exchange Commission. "SEC Chair Gary Gensler has made ESG disclosure, including disclosure related to climate risk, a key priority for his agency," noted Sairah Burki of the CRE Finance Council.

9/20/2021

The Biden administration is looking to ease restrictions on inbound travel for people who have been vaccinated, including for visitors from the EU and UK. Under the new rules, noncitizens will have to show negative COVID-19 tests and proof of vaccination before boarding US-bound flights.

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CNBC