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Introduction - Wed, February 12, 2014 11:00 AM – 12:00 PM Pacific
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1031 - Wed, January 15, 2014 11:00 AM – 12:00 PM Pacific and Wed, February 19, 2014 11:00 AM – 12:00 PM Pacific
Local
Convention
Center pays $56.5M for downtown Seattle property
The
possible expansion of the Washington State Convention Center has taken a big
step forward with the center's purchase of the Honda of Seattle property.
Highlands
Corporate Center Moves for $39M
SEATTLE-Vancouver-based
Bentall Kennedy sells the 173,254-square-foot center located in Bothell, WA, is
one of the most prominent life sciences markets in the US.
Convention
center secures key parcels for future expansion
The
Washington State Convention Center has secured prime land in its bid to double
the size of its facilities with the recent $56.5 million acquisition of several
Denny Triangle parcels now occupied by a Honda dealership.
Vulcan
moves ahead with two more office buildings in South Lake Union
Vulcan
Real Estate is proceeding with development of a pair of six-story office
buildings in Seattle’s South Lake Union neighborhood.
All
new units at big Bellevue condo project are now sold out
All
of the 539 new-construction condos in Bellevue Towers have been sold, officials
of the two-tower downtown project said Monday.
Value
of Zulily’s building shoots up 38% in seven years
For
tech companies and real estate investors, there’s some seriously good juju
going on at First and Walker in Seattle’s Sodo neighborhood.
Who's
ahead in Bellevue office high-rise race? Permits offer clues
Like
many other commercial real estate observers, I have been watching carefully to
see which office development company might start building its downtown Bellevue
tower first.
KBS REIT pays $187M for
Bellevue buildings
KBS Strategic Opportunities
real estate investment trust is buying two office buildings in downtown
Bellevue for $186.5 million, according to a filing with the Securities and
Exchanges Commission.
Phinney
Ridge is nation's seventh-hottest market, says Redfin
Phinney Ridge neighborhood is
Seattle's hottest neighborhood and the seventh-hottest in the country,
according to Redfin.com.
Boston
company pays $43.4 million for Bellevue office campus
A four-building office park in
Bellevue has been sold for $43.4 million, according to public records.
Seattle
high-rise expected to fetch $120 million
A 20-story building in the
Denny Triangle in downtown Seattle is on the market and should sell for $36
million more than it did nine years ago, according to a commercial real estate
newsletter.
Beacon
sells two Bellevue office buildings for $186.4M
Beacon Capital Partners
finalized the sale of two downtown Bellevue office buildings Wednesday, selling
them to KBS Realty Advisors for nearly $186.4 million, according to public
records.
Utah
company buys 522-unit apartment complex in Lakewood
One of Pierce County’s largest
apartment properties, The Village at Seeley Lake, has been sold, commercial
real state company Jones Lang LaSalle said Wednesday.
Remodel
boots longtime businesses from Seattle's historic Exchange Building
After 44 years, the Original
Deli at the base of the historic Exchange Building in downtown Seattle is
closing.
Church’s
prime property in downtown Bellevue sells for $30 million
A group called Plus Investment
USA on Monday acquired the First Congregational Church’s property in downtown
Bellevue, according to public records.
Apartment
developers in Seattle will start looking at converting for-rent units to
condominiums this year, a new report states.
Hudson
Pacific Properties Inc. said it's purchased the Merrill Place office
development in Seattle's Pioneer Square neighborhood for $57.7 million.
Amazon.com
on Friday exercised its right to buy another block in downtown Seattle from
Clise Properties, public records show.
SEATTLE-Those
who follow @GlobeStcom on Twitter and @GlobeStLIVE may have seen a post teasing
the announcement, but GlobeSt.com has learned that locally based Hudson Pacific
Properties Inc. has entered into a purchase agreement to acquire an office and
retail property known as “Merrill Place”
SEATTLE-“2014 is going to go down in history
as being a very strong year for the Western advanced economies.” So says Walter
Boettcher, director of research and forecasting for Colliers International in
London.
The recovery of the
U.S. office market picked up steam during the fourth quarter of 2013, according
to new data from real estate research firm Reis Inc
BEAVERTON,
OR-Officials in Beaverton, a large suburb of Portland, are heavily involved in
trying to bring a new healthcare complex for low-income residents to their city
The Belleview
Biltmore, a 117-year-old, wood-framed hotel known as the White Queen of the
Gulf, likely faces the end of her reign this year as the town of Belleair,
Fla., begins considering guidelines for building homes in its place.
When Related Cos.
needed financing for its $1.3 billion bid for Manhattan's Time Warner Center,
TWX -0.21% it turned to a ready source of money: foreign buyers.
It found willing
backers in sovereign-wealth funds from Abu Dhabi and Singapore, which agreed to
finance more than 80% of the purchase, according to people with knowledge of
discussions.
In 2011, when new
U.S. office development was at one of its lowest points in decades, Skanska
SKA-B.SK +0.83% AB took a risky step: The developer started construction on an
approximately $70 million office building in Cambridge, Mass., before it had
signed any tenants
Starwood Hotels &
Resorts Worldwide Inc. HOT +1.44% sold one of its most prestigious properties,
the St. Regis Bal Harbour Resort, kicking off what is expected to be a flurry
of sales activity by the company over the next three years.
A few years ago,
hotels and resorts were among the least attractive sectors in commercial real
estate. Properties were filing for bankruptcy at a rapid rate, lenders were
writing down the value of mortgages and buyers were scarce. These days, hotels
and resorts are hot properties.
LONG BEACH,
CA-National retail tenants are focusing on centers with the best positioning
and visibility and the highest traffic counts, said panelists at the
Association of Corporate Real Estate Executives of Southern California's 2014
Industry Forecast here last week.
OAKLAND,
CA-GlobeSt.com recently got an exclusive sneak peak at the Oakland office of
Lee & Associates’ fourth quarter 2013 Industrial Market Summary for the
Interstate 880 corridor.
Larry Silverstein,
the 82-year-old developer who has played a major role in rebuilding the World
Trade Center complex, is trying to wrangle better financing from government
agencies to restart work on a $2.3 billion office tower on the New York site,
according to people familiar with the matter.
WESTLAKE VILLAGE,
CA-LTC Properties renews two assisted living facility leases as it launches
efforts to re-lease 37 additional assisted living facilities in the Pacific
Northwest, Midwest and Texas
The
state-owned developer of what will be China's tallest building is taking the
unusual step of moving to hire a leasing agent, underscoring the challenges of
finding tenants as the country's economy cools.
As
foreign developers have raced to participate in the Chinese growth miracle, few
have been more aggressive than Tishman Speyer Properties LP, which has invested
some $3 billion since 2006.
China's
high-tech companies have made their mark on the nation's economy. Now, with growing
cash and investment at their disposal, they are beginning to have an impact on
its skylines.
A
major Chinese state-owned real-estate developer is putting £1.2 billion ($2
billion) into two London projects, continuing a string of overseas investments
in the city's booming property market.
With
fashion weeks set to kick off from Milan to Berlin, fashionistas descending on
stores across Europe might find an extraordinarily similar array of products,
whether they are on London's Oxford Street, Paris's Champs-Élysées or Milan's
Via Montenapoleone.
LONDON—The
U.K. capital's fast-climbing skyline will see a 27-story residential tower
added in the central neighborhood that already is home to Europe's tallest
building.
OSLO—The
Norwegian government has started a process to privatize state-owned real-estate
company Entra Holding AS, which has a 25 billion Norwegian krone ($4.1 billion)
property portfolio, in a move that could potentially lead to the biggest public
listing in Norway since 2010, according to Entra.
LIVERPOOL,
Australia—This once-downtrodden Sydney suburb is on the rise, an emblem of
Australia's booming housing market.
TOKYO—Japan's
long-frozen property market has thawed enough for Toshiko Oguchi to sell her
condominium, a hopeful sign of economic recovery from a national slump
stretching back two decades.
When
planners designed the Business Bay district in Dubai at the height of the last
real-estate boom, they boasted it would become the largest business and office
district in the Middle East.
MultiFamily
All of the 539 new-construction condos in Bellevue Towers have been sold,
officials of the two-tower downtown project said Monday.
DALLAS- Some 221,000 apartment units were completed nationwide over the
12 months ending in November, while 346,000 units were under construction, says
locally based Axiometrics.
Apartment
landlords continued to push through higher rents in many cities in the fourth
quarter, offering little relief for renters who have seen increases over the
past few years.
Office
Landlord Changes Course
Later this month, construction
will begin on a 69-story apartment tower in Jersey City, N.J., that is destined
to be the tallest residential tower in the state. Like many of the thousands of
rental apartments being built there, its units will cater to young, urban
professionals.
Utah
company buys 522-unit apartment complex in Lakewood
One of Pierce County’s largest
apartment properties, The Village at Seeley Lake, has been sold, commercial
real state company Jones Lang LaSalle said Wednesday.
Everyone’s
Smarter in Multifamily Sector
LAGUNA BEACH, CA-It’s more
difficult to find gems in the multifamily arena since all the players are much
savvier than in the past and competition is fierce, said panelists at IMN’s
Winter Forum on Opportunity and Private Investing here.
Case-Shiller
Index Posts Best Y-O-Y Gain Since ‘06
NEW YORK CITY-Home prices in
the S&P/Case-Shiller 10-City and 20-City Composites rose this past November
by 13.8% and 13.7%, respectively, year over year, S&P Dow Jones Indices
said Tuesday.
Metro
Boston Will Need Up to 435K Housing Units By 2040
BOSTON-The need for
400,000-plus housing units, mainly apartments, assumes a “Stronger Boston”
scenario in which younger workers come to the region, says a report from MAPC.
KBS REIT pays $187M for
Bellevue buildings
KBS Strategic Opportunities
real estate investment trust is buying two office buildings in downtown
Bellevue for $186.5 million, according to a filing with the Securities and
Exchanges Commission.
PREIT
Focusing In on the Shopping Experience
PHILADELPHIA-With shoppers
spending cautiously throughout the year, PREIT commissioned a shopping survey
of over 2,000 US adults through Harris Interactive examining the behavior and
propensity of American consumers to shop at malls during the holiday season.
Stock
Rally Leaves REITs in the Dust
Just about anyone who bet on
stocks last year reaped handsome returns—unless they bet on real-estate stocks.
REIT
Expert Forecasts Major Structural Change
MIAMI—Are REITs in some
sectors performing better than others—or will they in the future? Which do
investors favor—and why?
PREIT
Refis Wyoming Valley Mall
PHILADELPHIA-Pennsylvania Real
Estate Investment Trust recently completed the financing of its
910,000-square-foot Wyoming Valley Mall in Wilkes-Barre, PA.
Office
Landlord Changes Course
Later this month, construction
will begin on a 69-story apartment tower in Jersey City, N.J., that is destined
to be the tallest residential tower in the state. Like many of the thousands of
rental apartments being built there, its units will cater to young, urban
professionals.
Federal
Realty Makes Big Retail Buys in Monmouth
SHREWSBURY, NJ-The REIT sees
“strong synergies” between the Grove at Shrewsbury here, Brook 35 in Sea Girt
and its own portfolio.
A
Tremendous Amount of Work Pays Off
NEW YORK CITY-PREIT CEO Joe
Coradino is “happy” with his concerning his company's balance sheet and the
hard work it took to reach that point. In our interview he explains this and
what his goals for 2014 are. He also gave his views about current buying
opportunities and Philadelphia projects that will be “transformative.”
PREIT
Lets Go of Low-Performing Mall
CHAMBERSBURG, PA-As part of a
continuing push by Pennsylvania Real Estate Investment Trust to sell off
non-core assets, The Chambersburg Mall has been sold for $8.8 million.
Fall
of REITs Puts Their Rhythms in Doubt
Do bonds and REITs march to
their own beats?
That question was the crux of
"Urban Legend: The Myth of REIT Interest Rate Sensitivity," a report
issued late last year by the National Association of Real Estate Investment
Trusts.
Nontraded
REITs Get Aggressive
A few weeks ago,
Griffin-American Healthcare REIT II Inc. closed on the purchase of four
senior-housing facilities collectively known as the West Loop Portfolio. The
$300 million deal is noteworthy because it highlights the growing importance of
so-called nontraded real-estate investment trusts in the world of commercial
real-estate acquisitions
REIT
Expert Forecasts Major Structural Change
MIAMI—Are REITs in some
sectors performing better than others—or will they in the future? Which do
investors favor—and why?
Federal investigators are probing whether a
number of Wall Street banks cheated clients in the years following the
financial crisis by deliberately mispricing a type of mortgage bond that was
central to the economic turmoil, according to people close to the inquiry.
When Khien Nguyen needed $180,000 to open his
13th nail salon near Philadelphia in November, he didn't go to a bank. Mr.
Nguyen's credit score had dropped during the recession, so he figured a bank
would put him through weeks of aggravation, then reject him.
As the Affordable Care Act alters the
nation's health-care landscape, business groups are closely watching to see who
gets helped or hurt by the new law. In the real-estate world, one group appears
to be emerging a clear winner: owners of medical-office space.
D.R. Horton Inc., DHI -0.06% the largest U.S.
home builder by homes sold, sounded a bullish note to the early start of the
spring home-selling season by announcing that strong sales were enabling it to
raise prices.
ORANGE COUNTY, CA-Buying properties at less
than 70% of what it would cost to build them attracts Asian office investors
here, CBRE’s Anthony DeLorenzo and Paul Jones tell GlobeSt.com in this UPDATE
to an earlier story.
SEATTLE-“2014 is going to go down in history
as being a very strong year for the Western advanced economies.” So says Walter
Boettcher, director of research and forecasting for Colliers International in
London.
LOS ANGELES-In 2013, the office and
industrial markets saw great improvement and investment interest. These markets
can expect to continue improving in 2014, according to Marcus & Millichap
experts during an office and industrial market outlook webcast on January 8.
RE Blogs Education
Rising real estate values, higher tax rates
and new taxes were some of the reasons that 2013 saw a sharp increase in the
number of 1031 Tax Deferred Exchanges
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