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  • Last Call for Amazon HQ2: Today is Deadline for Communities to Submit Bids for Landing Co-Headquarters

    Wednesday October 18, 2017

    Today is the last day for communities to submit proposals for one of the largest economic development ever offered: Amazon's bid for a new co-headquarters site. Hundreds of communities, cities and even states are expected to pitch the online retail giant on the merits of their respective locations before the clock strikes midnight in Seattle. The company is seeking sites in major North American cities for a "full equal" to its Seattle headquarters... Read More

  • Starwood Capital Completes $800 Million Refinancing of 138-Property Hotel Portfolio

    Wednesday October 18, 2017

    Starwood Capital Group has completed another major refinancing of a portion of its portfolio of 276 select- and limited-service hotels, the majority located in outlying markets across the U.S. The bulk of the financing will be in the form of a new $800 million, single-borrower CMBS offering (GSMS 2017-SLP) being priced this week, backed by SCG Hotel Investors' interests in 138 limited service, select service and extended stay hotel properties totaling... Read More

  • Bank Branches Still Matter Even as They Continue to Disappear

    Tuesday October 17, 2017

    Bank branch consolidations have quickened over the last two years as customers continue to embrace digital banking. Simultaneously, the number of new branch openings continues to fall. But analysts view this as part of a larger shift in how retail branches are being utilized by customers and where those brick-and-mortar institutions need to be located. Through the first nine months of this year, U.S. banks have closed more than 2,600 branches.... Read More

  • Mack-Cali Sells 26-Bldg Office/Flex Portfolio in Southern NJ

    Monday October 16, 2017

    Brennan Investment Group has purchased the 26-building, 1.26 million-square-foot office and flex portfolio spread across Moorestown and Burlington Townships in Southern New Jersey from Mack-Cali Realty Corp. (NYSE:CLI). Brennan paid $74.95 million for the portfolio or about $59/square foot. The portfolio comprises 24 buildings in Moorestown and two in Burlington Township that are tenanted by a mix of businesses in the health care services, pharmaceutical... Read More

  • Keppel, KBS Forming New REIT to Acquire $800 Million U.S. Office Portfolio

    Sunday October 15, 2017

    Singapore-based Keppel Corp. has received approval to launch a new REIT on the Singapore Exchange and has reached a deal for that REIT to acquire 11 U.S. office properties from Newport Beach, CA-based KBS Strategic Opportunity REIT, a nontraded REIT. The properties have not been specifically identified nor has a final purchase price been set. However, KBS currently values the portfolio at $800 million with $400 million in outstanding debt, according... Read More

  • Faster Growth of Amazon Fashion Could Rock Retail Real Estate

    Wednesday October 11, 2017

    Lost in the coverage of Amazon's very public search for a second, multi-billion dollar national headquarters, was the barely-noticed lease the company signed in New York City last month. Yet that lease could signal billions of dollars in losses coming for retail commercial real estate across the country. Amazon signed a 15-year office lease for 360,000 square feet at Brookfield Properties' recently-renovated 5 Manhattan West building. Amazon will... Read More

Alabama Commercial Real Estate News

  • CoStar's People of Note (Oct. 20) - Starwood, Castle Lanterra Make Additions to C-Suite, Grocery REIT Hires Regional VP...

    Friday October 27, 2017

    img.pon{display: block; padding: 5px; width: 25%; max-width:180px; max-height: 220px; float: right;} img.pontwo{display: block; padding: 5px; width: 45%; max-width:360px; max-height: 220px; float: right;}The following companies announced personnel moves this week: Starwood Capital, Castle Lanterra, Phillips Edison & Co., Transwestern, Cushman & Wakefield, AMCAL, Valencia Capital, United Properties, JLL and Franklin Street.SOUTH FLORIDARead More

  • Brennan Investment Group, Arch Street Capital Acquire Wildamere Portfolio for $100M

    Friday September 29, 2017

    Chicago-based Brennan Investment Group, along with equity partner Arch Street Capital, acquired a 2.5 million-square-foot portfolio of industrial and office properties from Minnesota-based Wildamere Capital Management. The 11 properties span eight states and range in size from 1.2 million square feet to just under 75,000 square feet. The portfolio is composed mostly of single-tenant industrial properties, and was 95 percent occupied at the time... Read More