LA Addressing the Housing Shortage with ED1 Cover Story | April 11, 2024 Factors Shaping the Future of Data Centers National + Weekender | April 18, 2024 U.S. CRE Price Declines Continue Deceleration in March National + Finance | April 18, 2024 FEATURED STORY National CRE News In Your Inbox. Sign up for Connect emails to stay informed with CRE stories that are 150 words or less. More National Stories More Stories Connect CRE & Industry Events Load MoreMore Events Apartment buildings for saleCheck out the latest properties available on apartmentbuildings.com1132 W Duarte RdArcadia, CACalifornia & West + Apartment BuildingsListing Status:AvailableListing Type:Highest & best offerPrice:$9,250,000No. of Units:20Cap Rate:4.07GRM/GIM:16.67Average Occupancy:100Year Built:1962Building Size:19432 Sq ftLot Size:30379 AcresNo. of Stories:2APN:5382-001-043Zoning Code:R3No. of Parking Spots:30Opportunity Zone:NoBuy Side Fee:$2Price per unit:$462,500Learn More1875 Lexington AvenueNew York, NYNew York & Tri-State + Apartment BuildingsListing Status:AvailableListing Type:Highest & best offerPrice:$13,900,000No. of Units:36Opportunity Zone:NoPrice per unit:$386,111Learn More3896 Chippewa RoadMemphis, TNAtlanta & Southeast + Apartment BuildingsListing Status:AvailableListing Type:Call for offersNo. of Units:558Year Built:1972Year Renovated:2022Building Size:511760 Sq ftLot Size:29 AcresNo. of Stories:2Opportunity Zone:NoLearn MoreView all apartments Hone your competitive edge today with Connect Classroom, an accredited online Continuing Education provider offering CRE focused courses you can take on demand. Earn the credit you need with engaging, thoughtfully designed courses for commercial real estate brokers, appraisers, lenders, architects, and lawyers from a news source you already know and trust. Courses available now Explore courses Continuing Education Architect Courses We work with the industry's leading subject matter experts to create quality architect CEU courses from the ground up. Continuing Education Attorney Courses We provide quality CLE that is both easy and convenient to complete, backed with the best customer experience possible. Continuing Education Broker Courses Whether you’re starting a new career or skilling up, we have certified online courses for Real Estate Agents and Brokers. Companies achieve great success when aligned around a common goal and brand story. The experts integrated into our team at Connect Creative span every marketing and communications discipline and channel, encompassing skilled graphic designers, public relations leaders, copy writers, content producers, digital wizards, and website developers. A collaborative approach brings out your company’s stories that are shaped and crafted with the perfect visual, the right words and in the most dynamic way. Connect with Creative Latest Atlanta & Southeast Stories Springer Acquires 8-Property SC Portfolio Atlanta & Southeast + Carolinas + Apartments | April 19, 2024 Power Properties unloaded a value-add, eight-property portfolio at a price of $240 million. Springer Capital purchased the 2,164 units. MF Capital helped finance the deal. Commercial Edge reports the portfolio sale marks the largest market-rate property transaction in South Carolina in the last decade. The South Carolina communities, located in the Charlotte, Charleston, Greenville and … Fairfield, GVA Execute 4th Nashville Deal This Year Atlanta & Southeast + Southeast + Apartments | April 19, 2024 Fairfield Residential paid $51.8 million for a 380-unit South Nashville apartment complex. The Landmark at Wynton Pointe apartment community, located at 1000 Enclave Circle, was purchased for about $136,289 per unit. The development has a pool, fitness area, clubhouse, barbecue grills and lighted tennis courts. Rents range from $1,100-$1,600 a unit up to 1,133 square … Latest Boston & New England Stories Oceanfront Golf Club on the Cape Lists for Sale Boston & New England + Massachusetts + Hospitality | April 19, 2024 The Club at New Seabury, an oceanfront club in Mashpee with two 18-hole golf courses, is now available for sale. Listed by Leisure Investment Properties Group, the offering includes the club’s courses and a 42,000-square-foot clubhouse. Owned by New Seabury Properties LLC, an affiliate of billionaire investor Carl Icahn’s company since 1998, the club’s … LJC Appoints Sean Brown as Life Science Market Leader Boston & New England + Boston + Finance | April 19, 2024 Lamar Johnson Collaborative (LJC) has appointed Sean Brown as its Life Science Market leader, focusing on expanding integrated design and engineering services in the sector. With 25 years of industry experience, Brown’s previous roles including AstraZeneca and Bristol Myers Squibb. Brown joins a growing team at LJC, including Mary Sturgeon, Steve Hackman, and Andy Wilkinson, … Connect TeamDennis KaiserVice President, Public Relations & CommunicationsPaul BubnySenior Content DirectorJosh OrensteinVice President, News & MediaView AllOur ValuesWe understand that we have different backgrounds, ethnicities, experiences, and geographies, and these differences are what make us unique and bring a variety of perspectives that will shine through.Minority SplitGender SplitLearn More Latest California Stories Two-Lot Mixed-Use Changes Hands Along Newport Beach’s Marine Avenue California + Orange County + Retail | April 18, 2024 Faris Lee completed the sale of 325-331 Marine Ave. on Balboa Island, located in Newport Beach. Situated on two separate parcels, the property, a mixed-use storefront retail with two second-story residential units, sold for $4,400,000, representing a price of $1,193 per square foot for the building and $842 per square foot for the land. Jeff … AlbaneseCormier Nabs Open-Air Center in Rancho Mirage California + Inland Empire + Retail | April 18, 2024 AlbaneseCormier closed the acquisition of Rancho Las Palmas, a 162,380-square-foot, grocery and drug-anchored shopping center located at located at the intersection of Highway 111 and Bob Hope Drive in Rancho Mirage. The property is anchored by Amazon Fresh, IN-N-Out Burger, CVS, Hobby Lobby, Starbucks, Wells Fargo and a mix of specialty retailers and restaurants. Terms of the acquisition … Latest Chicago & Midwest Stories Chicago, Midwest | Weekly People & Companies for April 19, 2024 Chicago & Midwest + Office | April 18, 2024 The Chicago Bears have added two high-profile two legal hires amid the team’s push for a new stadium. Andrea Zopp will be the team’s senior adviser for legal and business affairs. Zopp was most recently a managing partner at venture capital firm Cleveland Avenue and she served as Chief Executive Officer and President of World Business Chicago. … Stonepeak Acquires Chicago Rail-Served Logistics Portfolio Chicago & Midwest + Greater Chicagoland + Industrial | April 18, 2024 Stonepeak, an alternative investment firm specializing in infrastructure and real assets, has acquired a three-asset, 1.7 million square foot rail-served logistics portfolio in Chicago from CenterPoint Properties. The portfolio is located at the largest inland port in North America, anchored by the BNSF and Union Pacific Class I rail intermodal terminals. Simpson Thacher & Bartlett … Latest Florida & Gulf Coast Stories Boca Raton Retail Center to Include Apartments Florida & Gulf Coast + South Florida + Apartments | April 19, 2024 Selig Properties has submitted a plan to the City of Boca Raton, seeking to alter and expand its footprint at the 23-acre Palmetto Park Square. In what is increasingly becoming a national trend, Selig is looking to build 319 rental apartments in the middle of the retail property and move a currently operating Publix to … BH, Kolter Pay $102M for Naples Beachfront Florida & Gulf Coast + Central Florida + Apartments | April 19, 2024 BH Group and the Kolter Group closed the $102.6 million sale of a beachfront condominium development site located in Naples, Florida. The property is 2.5 acres with 220 linear feet of beach frontage in the heart of Naples. It is one of the only remaining beachfront development sites in the state of Florida. It is zoned to allow up … Latest Global Stories Global Office Landlords See Uptick in Lease Renewals National + Global + Office | April 9, 2024 More than 80% of global office landlords are seeing an uptick in lease renewals thanks in part to their emphasis on creating elevated workplace experiences, according to the fifth annual VTS Global Landlord Report. Just 41% of landlords are prioritizing lease-up of vacant space. VTS said 57% of landlords surveyed prioritize the retention of current tenants, with … AFIRE Survey Ranks LA, DC as Top U.S. Markets for CRE Investment National + Global + Finance | March 27, 2024 Los Angeles, Washington, DC, Seattle, Dallas and New York City are the top U.S. cities for investment in 2024, according to the latest AFIRE International Investor Survey. That being said, if given the option of investing with “fresh books” in a city, the largest number of global investors selected Charlotte as a priority market, followed by … Latest Lenders Stories Latest National Stories U.S. CRE Price Declines Continue Deceleration in March National + Finance | April 18, 2024 The pace of decline in U.S. commercial real estate prices decelerated in March for the eighth month in a row, led by improvements for industrial sector, MSCI Real Assets said Thursday. The RCA CPPINational All-Property Index fell 3.0% from a year ago and 0.2% from February. In the current high interest rate environment, certain property … Factors Shaping the Future of Data Centers National + Weekender | April 18, 2024 A report by Colliers discusses a sector impacted by hyperscale players and more capital Data centers have been a focal point of commercial real estate commentary and investment in recent years. However, this is a continually evolving sector, with Colliers’ report, “2024 Data Center Marketplace: The Evolution of Artificial Intelligence: Shaping the Future of Data … Latest New York & Tri-State Stories Atkins Companies to Transform NJ Healthcare Building New York & Tri-State + New Jersey + Healthcare | April 19, 2024 Atkins Companies has initiated a multi-million dollar capital improvement venture at the Washington Medical Arts building in Washington Township, NJ. Acquired in 2023, the two-story, 70,140-square-foot Class-A medical office structure will undergo enhancements including repurposing a former fitness center into 33,000 square feet of clinical medical space and creating 7,700 square feet of leasable space. … KBBQ Restaurant Sopo to Open in Midtown New York & Tri-State + Midtown New York + Hospitality | April 19, 2024 Adams & Company has facilitated the opening of Sopo, a Korean barbecue-themed fast-casual restaurant chain, at 463 Seventh Avenue in Midtown South. Spanning 3,156 square feet across the ground floor and lower level, the space will offer quick-service dining with seating for approximately 20 patrons. David Levy of Adams & Company represented the landlord, … Latest Phoenix & Southwest Stories BTR Trends Hot Topic At ConnectCRE’s Phoenix Multifamily & BTR Conference Phoenix & Southwest + Phoenix + Apartments | April 19, 2024 A panel made up of Greystar’s Nicole Churchill, CCBG Architecture’s Virgina Senior and Brent Long from Christopher Todd Communities discussed the build-to-rent (BTR) sector and what we might see in the future while at the ConnectCRE’s Phoenix Multifamily & BTR Conference at the Westin Kierland Resort & Spa. First off, it was clear that the … Glendale Rental Property Trades for $266K/Unit Phoenix & Southwest + Phoenix + Apartments | April 19, 2024 Decron Properties has acquired Hangar at Thunderbird (Hangar), a 266-unit gated multifamily community located in Glendale, AZ for $69 million. That comes out to $260,000 a unit. The acquisition was the upleg of a 1031 exchange following the firm’s disposition of two older properties in Ventura County, CA, 60 miles west of downtown Los Angeles. … Latest Seattle & Northwest Stories Redmond Senior Housing Opens New Addition of $63M Project Seattle & Northwest + Seattle + Senior Housing | April 18, 2024 Emerald Heights, a senior living facility in Redmond, has officially opened the newest addition, Courtyard, to residents. The Courtyard building concept was first introduced in 2017, and construction began in September 2022. The $63 million project was designed by Rice Fergus Miller under the direction of Dean Kelly and built by GLY Construction. The three-level … Norris & Stevens Brokers Sale of MF in Vancouver Seattle & Northwest + Washington + Apartments | April 18, 2024 G & M Landover, LLC recently completed the $4.65 million purchase of the Landover Townhomes, a 12-unit multi-family property located at 11015 NE 26th St in Vancouver, Washington. David Chatfield and Cameron Mercer with Portland-based Norris & Stevens, Inc. represented the seller, Genesis Rentals, LLC, in the transaction. The Landover Townhomes is an approximately 18,876-square-foot … Latest Texas Stories $750M Friendswood Development Underway Texas + Houston-Galveston + Office | April 19, 2024 A much anticipated planned development broke ground in Friendswood. Called The City Center, it will be a massive, planned development project managed by Tannos Development Group in partnership with Wolfgramm Capital. The project encompasses 106 acres with plans to build a nationally branded luxury hotel, complete with a full-service restaurant, bar, and convention space capable … Dallas-Area Apartment Deliveries Affecting Rents Texas + Dallas-Fort Worth + Apartments | April 19, 2024 The Dallas-Fort Worth metro area will feel the effects of record deliveries this year. Yardi Matrix reports that rent movement has been negative for five straight months, down 0.5 percent on a trailing three-month basis in January to $1,523. Occupancy also declined, down 0.7 percent year-over-year in January to 93.1 percent. Developers had 67,892 units … Latest Washington DC Stories Lee & Associates Taps Kristin Rebeck from KLNB Washington DC + DC + Finance | April 19, 2024 Lee & Associates has hired Kristin Rebeck as senior vice president. With over 17 years of experience in commercial real estate brokerage, Rebeck joins from KLNB, where she served as vice president. Her addition follows Lee & Associates’ recent expansion efforts, including the establishment of a dedicated Mid-Atlantic Retail Sales and Leasing team. Mark Mueller, … Herc Rentals Signs 30K-SF Industrial Space in Baltimore Washington DC + Maryland + Industrial | April 19, 2024 Herc Rentals Inc., a heavy equipment rental company, has secured a lease for 30,892 square feet of space at 1200 Chesapeake Avenue in Baltimore MD., under an agreement with Alterra Property Group. The property, located near transportation hubs including Fairfield Marine Terminal and I-895, features buildings suitable for warehouse, service, and administrative functions. The … Latest Stories FromFormer BDT, Credit Suisse Execs Eye $850M for Citation Capital FundAlternative Assets | April 19, 2024Citation Capital, a private equity firm founded by former senior executives from BDT and Credit Suisse, is reportedly looking for $850 million for its inaugural fundraise. The Texas-based firm is in talks with potential investors about the vehicle, according to Bloomberg, which cited unnamed people with knowledge of the matter. Citation intends to use its ...Abra Unveils RIA Focused on Digital AssetsAlternative Assets | April 19, 2024Abra, a digital asset service and wealth management platform, launched Abra Prime for institutions and Abra Private for private clients after the U.S. Securities and Exchange Commission (SEC) approved its subsidiary Abra Capital Management LP to operate as a registered investment advisor (RIA). The new venture positions Abra as an asset manager rather than just ...Summit Enhances Private Markets OfferingAlternative Assets | April 19, 2024Summit Financial Holdings has expanded its private markets offering through a new partnership with alternatives platform Opto Investments and tech provider Arch. Led by co-CIO Noreen Brown, CFA, the initiative aims to further differentiate client portfolios with the potential for higher returns and reduced exposure to market volatility, according to Summit. The platform provides Summit ...Chevron Venture Arm Launches $500M Climate Friendly FundAlternative Assets | April 19, 2024Chevron Technology Ventures, the venture capital arm of US oil and gas major Chevron Corp, announced the Future Energy Fund III, a $500 million vehicle for investing in low-carbon technology. The fund’s initial investments will range between $1 million and $5 million, with a focus on Series A through C rounds. The new fund, like ...
