Commercial Real Estate News
Your go-to source for news in the commercial real estate industry, covering all property types and asset classes across the most sought-after markets in the U.S. Stay up to date with news about notable lease deals and the newest sale transactions, recent ground-up construction, as well as redevelopment projects, and more.
Coworking Captures Opportunity as National Office Pipeline Continues to Shrink
Sluggish construction pipeline presents opportunities that the coworking sector has been banking on. Read the highlights and insights on industry trends in our full monthly U.S. office markets report.
Amazon Forks Over $79 Million for Industrial Flex Building in Pasadena, Calif.
Amazon has made a significant deal in Pasadena commercial real estate, paying $79 million for an industrial property. This transaction underscores the tech giant’s growing footprint in southern California as the sale more than doubled the building’s value in just four years. The seller — El Segundo, Calif.-based Alvarez & Marsal Capital Real Estate — achieved a massive gain of around 139% from the sale after purchasing the property from Graymark Capital in early 2021 for only $33 million, according to property records. At approximately $469 per square foot, the price represents a substantial premium for flex industrial space.
UN Population Fund Reduces Its Office Footprint in Midtown
The United Nations Population Fund (UNPF) is executing an ongoing space consolidation plan by relocating its office from 605 Third Ave. to 730 Third Ave. in Midtown East. This move will drastically reduce the organization’s total office space in Manhattan as it cuts its current allocation of 130,000 square feet at its premises at 605 Third Ave. by more than half.
Market Value vs. Assessed Value — Differences in Commercial Real Estate
Understand the difference between the market value and the assessed value of commercial property, how each is calculated, and why each is important.
Best Cities for Startups: Phoenix & Austin Lead the Charge for New Business Density & Growth
In the U.S. and across the globe, 2021 marked the year of the most generous seed funding sprees. Since then, rising interest rates, supply chain disruptions, and inflation surges have all contributed to a more targeted and cautious approach from venture capital holders, who are now targeting AI, software as a service (SaaS), fintech and health tech startups. That tightening of capital means that startups must now rely more heavily on fundamental business health and the strength of their local ecosystems.
Penzance Breaks Ground on New Amazon Data Center
The new AWS facility will deliver roughly 240,000 square feet of Northern VIrginia commercial real estate dedicated to data center use designed for hyperscale demand and high energy efficiency.
Alo Yoga Lands New Beverly Hills Headquarters in $90 Million Deal
Alo Yoga paid $90 million for the 82,886-square-foot La Peer Building, in Beverly Hills. The acquisition sets a new benchmark for the city, working out to approximately $1,085 per square foot to make it Beverly Hills’ highest price-per-square-foot office transaction this year — and by a significant margin.
First Citizens Bank Expands Bay Area Footprint
The office building at 667 Mission St., offers some of the best situated office space in San Francisco and features one of the very few rooftop gardens in the city’s dowtown.
Northern California Industrial Property Secures $67 Million Refinance
A recently constructed industrial space in San Joaquin County, Calif., known as Lathrop II, has been refinanced with a $66.7 million loan closed by Affinius Capital LLC.
The mortgage is in the name of a joint venture composed of Phelan Development and LaSalle. The property encompasses 847,000 square feet across two warehouses.
Understanding Class A, Class B and Class C Office Buildings
Key Takeaways Subjective Standards: Office classes are relative to the local market; a “Class A” building in a suburb may only rank as “Class B” in a major…
