Commercial Real Estate
Top stories summarized by our editors
2/20/2019

With a failing water and fire suppression system, tenants at Century III Mall in Pennsylvania have been asked to vacate the property within 30 days.

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Century III Mall
2/20/2019

University Mall, a complex sitting on 100 acres of land in Tampa, Fla., is being demolished this week as a first step in the property's redevelopment. The new property will include a pedestrian-oriented street with restaurants, a technology research complex and office space.

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WFLA-TV (Tampa, Fla.)
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University Mall
2/19/2019

New York City won't get the estimated 25,000 new jobs that could have resulted from Amazon's locating one of its second headquarters in the Long Island City neighborhood, but the area's outlook is still bright, said Jim Sullivan, managing director and REIT analyst at BTIG. "We think New York will go from strength to strength" and "will be more concentrated in Manhattan perhaps than it would have been with Amazon in Long Island City," Sullivan said.

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Nareit
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Jim Sullivan, Amazon, BTIG
2/19/2019

European REITs face numerous issues with ESG reporting on both the regulation side and the market side, says Hassan Sabir, finance and sustainability director at EPRA. For example, although investor interest in ESG is strong, there are many standards, and REITs can struggle to choose the relevant ones, Sabir said.

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Nareit
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ESG, EPRA
2/19/2019

CBRE has signed on its first landlord for its new co-working service, called Hana. The workspace will encompass three floors in partnership with Metropolitan Life Insurance for the Dallas PwC Tower.

2/19/2019

Construction start up Katerra has raised more capital than other startups in its industry, with $1 billion in backing from investors such as SoftBank and Foxconn. Katerra positions itself as a one-stop shop for developers, with the promise of building at lower costs and with faster timelines.

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Katerra, Foxconn, Softbank
2/19/2019

New self-storage projects coming online kept rents flat in January and are subduing growth nationally, according to Yardi Matrix. Over the past year, street-rate rents dropped 1.7% and 1.5%, respectively, for non-climate-controlled and climate-controlled units.

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Yardi Matrix
2/19/2019

Duke Realty has begun construction on a 661,741-square-foot bulk warehouse in Newark, N.J. The project, which is the largest speculative bulk warehouse under construction in the region, is expected to be completed by the end of the year.

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GlobeSt
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Duke Realty
2/19/2019

Waikiki Trade Center's 55,000 square feet of retail will now be managed by JLL. The Hawaii urban street retail center is home to Starbucks, Duke's Lane Market and Eatery, Nordstrom Rack and several other businesses.

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Nordstrom Rack, Starbucks
2/19/2019

Before Boulevard Mall in Buffalo, N.Y., hits the auction block, its owner, Amherst Industrial Development Agency, is touting the property's potential, including new zoning that could allow it to transition from an enclosed space into a town center. The property features Dick's Sporting Goods, Macy's, J.C. Penney and H&M, which, along with its size and location, help make it an ideal redevelopment investment.

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J.C. Penney, Dick, H&M, Macy