by Kipp Gillian | Dec 29, 2023 | A Quick Word - Kipp Gillian, Employment
2024 The year we hold our breath. The last couple of years we’ve felt like been tumbling down one stair case after another. Hoping, after reaching the bottom of each flight “this has to be the bottom” but it just keeps going and going. Sure, some...
by Kipp Gillian | Oct 17, 2024 | Office
Sagard Real Estate, formerly EverWest Real Estate Investors, completed the $27.5-million sale of Tustin Financial Plaza, a five-building office campus located in Tustin, to a local private investor. The transaction advances Sagard’s ongoing strategy to reduce...
by | Oct 17, 2024 | Hotel
New York City Mayor Eric Adams and the Future of Fifth Partnership on Thursday unveiled plans to transform Fifth Avenue between Bryant Park and Central Park into a pedestrian-centered boulevard. The proposed design expands sidewalks by 46%, shortens crosswalks for...
by Kipp Gillian | Oct 17, 2024 | Industrial
The co-development team of Conor Commercial Real Estate and Dayton Street Partners, along with their partner, an affiliate of Heitman LLC, have completed Central Industrial Center. Located in Stockton, the Class A industrial development incorporates three speculative...
by Kipp Gillian | Oct 17, 2024 | Affordable Housing
Walker & Dunlop, Inc. is moving Hospitality Investment Sales with the addition of Jonathan (Jay) Morrow as senior managing director. Based in New York, Morrow will lead Walker & Dunlop’s hospitality practice and be responsible for the origination and execution...
by Kipp Gillian | Oct 17, 2024 | Affordable Housing
Trinity Financial, alongside federal, state and local leaders, broke ground on Tremont Flats, an adaptive reuse project that will transform the historic Aeolian Company complex at 85 Tremont St. in Meriden, CT into 82 mixed-income apartments. The $56-million...
by Kipp Gillian | Oct 17, 2024 | Affordable Housing
Colliers appointed Christian Prelle as EVP and head of office agency, San Francisco Bay Area. Prelle is a renowned industry leader in the Bay Area with more than 15 years of experience in leasing and selling properties. Before joining Colliers, he served as executive...
by Kipp Gillian | Oct 17, 2024 | Office
Origin Investments, a leading private real estate fund manager, has appointed Michael Collins as Managing Director, Head of Investor Relations. Collins has more than 25 years of experience, having served in capital formation roles with Easterly Asset Management,...
by Kipp Gillian | Oct 17, 2024 | Retail
Avison Young has brought to market a four-unit, state-of-the-art food production facility at 900 W. Cermak Road in Chicago, Illinois. The 40,000-square-foot property was recently occupied by Foxtrot, which extensively renovated the facility in 2021 for use as their...
by Kipp Gillian | Oct 17, 2024 | Office
JLL has hired Cody Morrison as Executive Vice President focusing on tenant representation. Based in JLL’s Bellevue office, Morrison works with clients throughout the Seattle region and nationally. He was formerly Portfolio Director in WeWork, overseeing its Pacific...
by Kipp Gillian | Oct 17, 2024 | Office
Professional services firms Benjamin F. Edwards and Longson Law, LLC have signed leases for a combined 3,459 square feet of space at Timonium Corporate Center, a 10-story, 132,000-square-foot office tower located at 9515 Deereco Road in the Timonium section. The...
by Kipp Gillian | Oct 17, 2024 | Office
The Indiana University (IU) Foundation is buying property in Washington, D.C., from Johns Hopkins University. The eight-story building at 1619 Mass Ave. NW would accommodate housing for about 40 students, classrooms and offices. The school is under contract to buy the...
by Kipp Gillian | Oct 17, 2024 | Affordable Housing
WinnDevelopment and WNC & Associates launched construction on The Residences on Lincoln Square in downtown Worcester, MA. The senior residential community will preserve and convert the historic three-story Lincoln Square Boys Club building into 16 affordable...
by Kipp Gillian | Oct 17, 2024 | Office
SL Green Realty Corp. has secured a 924,876-square-foot renewal and expansion lease with Bloomberg, L.P. at 919 Third Ave. in Midtown Manhattan. The transaction includes a 749,035-square-foot, 11-year lease extension commencing March 1, 2029 and a new 15-year lease...
by Kipp Gillian | Oct 17, 2024 | Affordable Housing
Here’s a sobering statistic: 24% of respondents participating in JLL’s “Employee Perspective on Healthcare Real Estate” study said they’re considering leaving their current position in the next 12 months. It’s no secret that burnout is a problem among healthcare...
by Kipp Gillian | Oct 17, 2024 | Retail
Retail sales rose by a seasonally adjusted 0.4% in September, following an unrevised 0.1% gain in August, the Commerce Department’s Census Bureau said Thursday. Economists polled by Reuters had projected a 0.3% increase in September. Receipts at food and...
by Kipp Gillian | Oct 17, 2024 | Office
Taylor Tomita Office vacancies in almost every geographic area have existed for several years, further exacerbated by work-from-home and hybrid work trends. But how much do those empty spaces actually cost? To determine actual lost value of vacant buildings, Switch On...
by Kipp Gillian | Oct 17, 2024 | Retail
It’s no secret that investment activity and transaction volume across all commercial real estate sectors have stalled over the past several years. But as is the usual case with CRE, a great deal depends on asset type, geographic sector and—according to a recent CBRE...
by Kipp Gillian | Oct 17, 2024 | Industrial
It’s no secret that investment activity and transaction volume across all commercial real estate sectors have stalled over the past several years. But as is the usual case with CRE, a great deal depends on asset type, geographic sector and—according to a recent CBRE...
by Kipp Gillian | Oct 17, 2024 | Office
It’s no secret that investment activity and transaction volume across all commercial real estate sectors have stalled over the past several years. But as is the usual case with CRE, a great deal depends on asset type, geographic sector and—according to a recent CBRE...
by Kipp Gillian | Oct 17, 2024 | Industrial
Goldman Sachs and Lincoln Property Company obtained an $83.8 million construction loan, allowing them to join forces on a nearly 900,000-square-foot industrial development called Waterstone in San Marcos. Bank OZK provided the senior portion of the loan, while...
by Kipp Gillian | Oct 17, 2024 | Industrial
Foundry Commercial has acquired the former Transamerica office at 2700 W. Plano (photo) and the associated 22 acres of land, so it can build an industrial site on the property. The development, Plano Midpoint, marks Foundry’s seventh office-demolition-to-industrial...
by | Oct 17, 2024 | Hotel
Concord Summit Capital (“Concord Summit”) arranged a $24.5 million construction loan to finance demolition, abatement and infrastructure entitlements for the redevelopment of the Metrocenter Mall located in Phoenix. Metrocenter is poised for a dramatic transformation...
by Kipp Gillian | Oct 17, 2024 | Retail
Concord Summit Capital (“Concord Summit”) arranged a $24.5 million construction loan to finance demolition, abatement and infrastructure entitlements for the redevelopment of the Metrocenter Mall located in Phoenix. Metrocenter is poised for a dramatic transformation...
by Kipp Gillian | Oct 17, 2024 | Office
Newmark has hired industry veteran Meredith Cullen as a Senior Managing Director within the firm’s Land Services group. Based in Houston, Cullen will focus on the acquisition and disposition of industrial, office and retail land developments and master-planned...
by Kipp Gillian | Oct 17, 2024 | Industrial
United plans to build a 354,400-square-foot hangar on undeveloped land at Orlando International Airport, where it will house its aircraft maintenance facilities. The project is estimated to cost up to $300 million. Currently, the airline leases Hangar 407, Hangar 431...
by Kipp Gillian | Oct 17, 2024 | Affordable Housing
A development team of Griffin Brothers Property Services and Quore Real Estate Advisors is trying to get the city of Charlotte to rezone 24 acres in Brookhill Village along Remount Road at the edge of South End. The zoning designation would give the firms the...
by Kipp Gillian | Oct 17, 2024 | Retail
A development team of Griffin Brothers Property Services and Quore Real Estate Advisors is trying to get the city of Charlotte to rezone 24 acres in Brookhill Village along Remount Road at the edge of South End. The zoning designation would give the firms the...
by Kipp Gillian | Oct 17, 2024 | Office
A development team of Griffin Brothers Property Services and Quore Real Estate Advisors is trying to get the city of Charlotte to rezone 24 acres in Brookhill Village along Remount Road at the edge of South End. The zoning designation would give the firms the...
by | Oct 17, 2024 | Hotel
The redevelopment and expansion of the International Swimming Hall of Fame in Fort Lauderdale is set to move forward after the developer secured a $54.4 million construction loan. MACQ Holdings provided the mortgage to Capital Group P3 Developments that matures June...
by Kipp Gillian | Oct 17, 2024 | Industrial
CH Realty Partners secured a $50 million loan to refinance its 150,000-square-foot industrial facility in the Greenville-Spartanburg market. The facility, located at 260 Midway Dr. Union, South Carolina, was a build-to-suit designed for bio-tech company MycoWorks. The...
by Kipp Gillian | Oct 16, 2024 | Retail
Archway Capital provided a $22.8-million loan to acquire Simi Valley Town Center. Built in 2005, the 593,827-square-foot retail center is located at 1403-1685 Simi Town Center Way in Simi Valley. The borrower was not disclosed. “We are pleased to provide acquisition...
by Kipp Gillian | Oct 16, 2024 | Retail
Two Trees Management said Henrybuilt, the luxury design company, has signed a new lease for the entire historic Stable Building, a standalone heritage frontage located at 16 Main St. in DUMBO. The lease will bring Henrybuilt and sister company Space Theory across the...
by Kipp Gillian | Oct 16, 2024 | Retail
The City of New Rochelle on Wednesday unveiled its Downtown Retail Strategy, building on downtown redevelopment that has brought 10,000-plus housing units to the city. Approved by the City Council, the plan includes the creation of New Rochelle’s Vanguard District and...
by | Oct 16, 2024 | Multifamily
Sares Regis Group of Northern California (SRGNC) and Hunter Partners joined the Sunnyvale community recently for the official grand opening of Cityline, a transit-oriented, mixed-use district in downtown Sunnyvale. In the works since 2015 and developed in two phases,...
by Kipp Gillian | Oct 16, 2024 | Retail
Sares Regis Group of Northern California (SRGNC) and Hunter Partners joined the Sunnyvale community recently for the official grand opening of Cityline, a transit-oriented, mixed-use district in downtown Sunnyvale. In the works since 2015 and developed in two phases,...
by Kipp Gillian | Oct 16, 2024 | Retail
Walgreens Boots Alliance plans to close 1,200 stores during the next three years, with 500 closures set for next year. The pharmacy giant which is based in Deerfield, Illinois, said it would shutter roughly 14% of its U.S. locations and redeploy the majority of the...
by | Oct 16, 2024 | Hotel
Golf VX, a manufacturer and franchisor of technology-driven golf simulators, plans to open its inaugural Golf VX flagship venue in the Chicago suburb of Arlington Heights. The Golf VX brand launch kicked off at the 2024 Orlando PGA Show with a live demonstration of...
by Kipp Gillian | Oct 16, 2024 | Industrial
Dermody Properties acquired 21 acres west of Louisville’s Airport submarket. The company will redevelop the property and build LogistiCenter at Airport West, a new 342,720-square-foot Class A logistics facility. The project will break ground in the fall and is...
by | Oct 16, 2024 | Multifamily
CBRE has secured a loan for the refinancing of The Pines at Q Plaza Apartments, a 505-unit multifamily property in Omaha. Josh Larsen, with CBRE Capital Markets’ Debt and Structured Finance team in Omaha, secured the 10-year, full-term, interest-only loan through...
by Kipp Gillian | Oct 16, 2024 | Industrial
Activity in the industrial markets has modestly picked up over the past six months, with an uptick beginning in Q2 and continuing through Q3, according to a recent report by Kidder Mathews. Inflation, which peaked at 10.1% in June 2022, has since dropped to 3.1% as of...
by | Oct 16, 2024 | Multifamily
Institutional Property Advisors (IPA), a division of Marcus & Millichap, closed the sale of The Lofts at Noho Commons, a 292-unit multifamily property in the NoHo Arts District of Los Angeles. The sale price was $92.5 million, or $316,781 per unit. “The property’s...
by Kipp Gillian | Oct 16, 2024 | Affordable Housing
MassDevelopment has issued $45 million in tax-exempt bonds on behalf of BC Leefort Terrace LLC, an affiliate of Beacon Communities, which will use proceeds to redevelop the circa-1958 Leefort Terrace housing development in Salem, MA. The tax-exempt bonds were...
by | Oct 16, 2024 | Multifamily
MassDevelopment has issued $45 million in tax-exempt bonds on behalf of BC Leefort Terrace LLC, an affiliate of Beacon Communities, which will use proceeds to redevelop the circa-1958 Leefort Terrace housing development in Salem, MA. The tax-exempt bonds were...
by Kipp Gillian | Oct 16, 2024 | Affordable Housing
New York Gov. Kathy Hochul said Wednesday that about 71,000 new apartments will be developed in New York City, including 21,000 affordable units, thanks to an extension of the construction completion deadline for the 421-a tax incentive program. The completion...
by | Oct 16, 2024 | Multifamily
The rental market is experiencing a regional divide, Realtor.com said Wednesday. While rents dropped in many parts of the country, eight of the 10 Midwestern markets in the 50-metro report for September saw year-over-year rent increases in September, led by Cincinnati...
by | Oct 16, 2024 | Hotel
Marcus & Millichap published its Midyear 2024 Austin Hospitality Market Report. “Austin’s hotel market continues to show resilience despite recent supply pressures, maintaining one of the highest occupancy rates in Texas,” stated Marcus &...
by Kipp Gillian | Oct 16, 2024 | Industrial
Embraer announced the expansion and investment in the United States of its maintenance, repair and overhaul (MRO) services network to support the growing fleet of E-Jets. A new Embraer-owned service center will open at the Perot Field Alliance Airport in Fort Worth....
by | Oct 16, 2024 | Multifamily
Wood Partners is eyeing a 350-unit apartment building at 361 Herron Dr. near Geodis Park. The structure will rise five stories and include a six-level parking garage and a pool courtyard area in the center of the development. The project is slated for a 4.09-acre site...
by Kipp Gillian | Oct 16, 2024 | Industrial
DataCore Innovations hopes to build a $1 billion data center near the Monroe County town of Forsyth. The company wants to build on a more than 900-acre campus off of the Rumble Road exit of Interstate 75. The $1.12 billion proposed project is called the Rumble...
by | Oct 16, 2024 | Multifamily
The Westshore Group has obtained a $117 million construction loan for Phase I of AQUA at Westshore Yacht Club. It will feature 77 waterfront condos and 9 luxury villas in Tampa Bay. AQUA at Westshore Yacht Club, situated on a 6.1-acre site, will eventually offer 248...
