LA Addressing the Housing Shortage with ED1 Cover Story | April 11, 2024 Kroger, Albertsons Add 166 Stores to Merger Divestiture Package National + Retail | April 22, 2024 CoStar to Acquire Digital Twin Platform Matterport for $1.6B National + Apartments | April 22, 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.com3896 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 MoreTech Village NorthLubbock, TXTexas + Apartment BuildingsListing Status:AvailableListing Type:Highest & best offerPrice:$4,995,000No. of Units:25Average Occupancy:93Year Built:2017Building Size:45000 Sq ftOpportunity Zone:NoPrice per unit:$199,800Learn MorePacific CrestEncinitas, CACalifornia & West + Apartment BuildingsListing Status:AvailableListing Type:Highest & best offerPrice:$15,500,000No. of Units:21Cap Rate:4.04GRM/GIM:16.27Average Occupancy:98Year Built:1960Year Renovated:2020Building Size:18460 Sq ftLot Size:28314 AcresNo. of Stories:2APN:358-172-19Opportunity Zone:NoBuy Side Fee:$1Price per unit:$738,095Learn 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 Allen Morris Eyeing Westside Trail for Mixed-Use Site Atlanta & Southeast + Atlanta + Apartments | April 23, 2024 The Allen Morris Company is planning to build a mixed-use project that would replace industrial properties in the area of Bankhead and the BeltLine’s Westside Trail. Two years ago, the company paid $31 million for the site. Allen Morris submitted plans to a state planning agency outlining details of what could take shape on 15.5 … Plastics Recycler Developing $950M Georgia “Circularity Center” Atlanta & Southeast + Georgia + Industrial | April 23, 2024 Brightmark plans to develop a 2.5 million-square-foot circularity center in Thomaston, Georgia, an hour NE of Columbus. The facility, which will cost $950 million to build, will have the capacity to repurpose over 400,000 tons of plastic per year. Brightmark’s system takes discarded plastic content and converts it into materials to create new circular plastic products, … Latest Boston & New England Stories Boston Pickle Club Opens First Facility in Hyde Park Boston & New England + Boston + Hospitality | April 22, 2024 Boston Pickle Club, an indoor pickleball facility, has opened in Hyde Park at 91 Sprague St. The 20,000-square-foot facility has seven indoor courts with advanced lighting and court surfaces. Co-founded by platform tennis professionals Johan du Randt and Stephen Mitchell, along with entrepreneur Steven Hauck, the facility opened at the end of February. Sponsored by Skechers and Joola, … Law Firm Goulston & Storrs Relocates Office After 40 Years Boston & New England + Boston + Office | April 22, 2024 Goulston & Storrs, an Am Law 200 firm, has relocated its Boston office to One Post Office Square after nearly 40 years at its former 400 Atlantic Avenue address. The new space spans approximately 100,000 square feet in the recently remodeled 41-story, Class A office tower. The new office features four floors with views of Boston Harbor … Connect TeamView 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 Topgolf Slates May Opening for Montebello Venue California + Los Angeles + Retail | April 22, 2024 Topgolf will open its new three-story Montebello facility on May 3, some 14 months after breaking ground. It will be the company’s 100th global outdoor Topgolf venue and its third facility in the Los Angeles area. The new venue anchors the redesigned Montebello Golf Course that the City of Montebello recently transformed into two courses: The first course is a traditional … UC Irvine Wins 2024 NAIOP SoCal OC Real Estate Challenge California + Orange County + Apartments | April 22, 2024 The graduate student team from the University of California, Irvine Paul Merage School of Business Center for Real Estate took home the prize at the third annual NAIOP SoCal Orange County Real Estate Challenge. The annual competition features graduate student teams from the Chapman University Argyros College of Business & Economics and UCI in a … Latest Chicago & Midwest Stories First Financial Bank Opens Chicago Branch in Fulton Market Chicago & Midwest + Downtown + Office | April 22, 2024 Cincinnati-based First Financial Bank is expanding to Chicago, opening an office headquarters in Fulton Market. Jeff Steigelman will serve as commercial banking regional market president for Chicago and Northwest Indiana, at the company’s 8,000-square-foot location at 305 N. Peoria Street. “Establishing a physical presence in Chicago is an exciting step for First Financial,” said Archie … Kansas City MF Development Secures $13M Equity Investment Chicago & Midwest + Midwest + Apartments | April 22, 2024 The JLL team was led by Managing Director Mark Erland and Director Kevin Barron. “3rd and Grand is an exceptionally well-designed project that will benefit from its transit-oriented location with city incentives, Kansas City’s booming market fundamentals and its seasoned development team,” said Barron. Upon completion in 2026, 3rd and Grand will be a mid-rise … Latest Florida & Gulf Coast Stories Stark Building 454-Unit Summerfield BTR Community Florida & Gulf Coast + Central Florida + Apartments | April 23, 2024 Stark Enterprises is building Summer Pointe Village, a 454-unit, build-to-rent community on approximately 110 acres at 16152 SE 77th Court Road, Summerfield, FL. The project will be split into two phases: 252 units in the first phase and 202 in the second. Set to break ground on the first phase in the spring of 2024, … Oak Row Lands $181M Construction Loan for Miami Apartment/Office Highrise Florida & Gulf Coast + South Florida + Apartments | April 23, 2024 Oak Row Equities started work on a multifamily and office tower in the Edgewater district of Miami. Oak Row obtained a $181 million construction loan from Bank OZK. Coastal Construction Group is building the project, 2600 Biscayne Boulevard. Arquitectonica is doing the design work. The 41-story building will take over an entire city block and … 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 Kroger, Albertsons Add 166 Stores to Merger Divestiture Package National + Retail | April 22, 2024 The Kroger Co. and Albertsons Companies Inc. said Monday they have added 166 stores to the assets they will sell to C&S Wholesale Grocers, LLC in connection with their $25-billion proposed merger. The grocery giants announced the initial divestiture package in September 2023. Now valued at $2.9 billion, the amended divestiture package responds to concerns raised … CoStar to Acquire Digital Twin Platform Matterport for $1.6B National + Apartments | April 22, 2024 CoStar Group, Inc. has reached a definitive agreement to acquire all outstanding shares of digital twin platform Matterport. The cash-and-stock transaction is valued at $5.50 per share, reflecting an estimated $1.6 billion of enterprise value. “CoStar Group and Matterport have nearly identical mission statements of digitizing the world’s real estate,” said Andy Florance, founder and … Latest New York & Tri-State Stories Menswear Designer Todd Snyder Inks New UES Space New York & Tri-State + Uptown/Bronx + Retail | April 22, 2024 RIPCO Real Estate and the Naftali Group proudly announce the lease agreement with luxury menswear designer Todd Snyder at The Bellemont, a condominium on Madison Avenue. Located at 1165 Madison Avenue, the new store will serve as Todd Snyder’s flagship location. RIPCO’s Beth Rosen, Emily Kripitz, CBRE’s Jennifer Bernstein, and City Connections’ Stephen Asch brokered … Rudin Appoints Katie Kinney VP, Head of Marketing New York & Tri-State + New York + Finance | April 22, 2024 Rudin has appointed Katie Kinney as vice president and head of Marketing. With eight years of experience at Brookfield Properties, Kinney will lead Rudin’s marketing strategies across its portfolio of residential and office properties. She looks to enhance Rudin’s brand presence and drive leasing efforts. With extensive experience from her tenure at Brookfield Properties, where she served as vice … Latest Phoenix & Southwest Stories Aspen-Area Monastery Hits Market for $150M Phoenix & Southwest + Southwest + Hospitality | April 22, 2024 A 3,800-acre St. Benedict’s Monastery property 30 miles from Aspen was listed for sale for $150 million. The monastery has operated in Capitol Creek Valley since 1956. It includes a working ranch, with more than 1,000 irrigated acres, and a spiritual center and affiliated cabins for guests. Mirr Ranch Group has the listing. Broker Ken … Dornin Nabs 20-Building Sparks Portfolio for $70M Phoenix & Southwest + Southwest + Industrial | April 22, 2024 Dornin Investment Group (DIG) acquired a 20-building, 413,172-square-foot portfolio of light industrial properties in Reno/Sparks, Nevada and select retail and medical office assets in Northwest Reno, Nevada. The portfolio was acquired for $70 million. The Ribeiro Companies was the seller. This is Dornin’s fourth value-add light industrial acquisition in the last 18 months. The majority of … Latest Seattle & Northwest Stories Monolithic Power Buys Ground Lease at Boeing Field in Seattle Seattle & Northwest + Seattle + Industrial | April 22, 2024 Semiconductor supplier Monolithic Power Systems Inc. bought a ground lease at King County International Airport-Boeing Field for $18.3 million, reported the Puget Sound Business Journal.The parcel involved in the deal spans approximately 8.13 acres of land and was sold by Seattle businessmen Dan Baty and his son Stan Baty. Dan Baty is co-founder of Columbia … LIHI to Develop Affordable Homes in Seattle’s U District Seattle & Northwest + Seattle + Apartments | April 22, 2024 The Low Income Housing Institute (LIHI) was selected by the Seattle Office of Housing to develop affordable housing on Sound Transit’s property at 1000 NE 45th Street in Seattle’s University District. The site is approximately two blocks from the U District light rail station. The proposed 12-story building will feature 160 apartments, approximately one-third of … Latest Texas Stories Small-Town Creedmoor Lands Sizable Industrial Park Texas + Austin + Industrial | April 23, 2024 March Capital Management (“MCM”), in partnership with Deutsche Finance America, announced the acquisition and capitalization of the initial phase of a large industrial development located off State Highway 45 Southeast in Creedmoor, Texas. Known as the town with the largest shovel, Creedmoor has less than 500 people. This marks the commencement of 45 Logistics South, … Dallas Stars Build Third DFW StarCenter Texas + Dallas-Fort Worth + Hospitality | April 22, 2024 The Dallas Stars have started work on their third multisport facility (StarCenter) in the DFW metro area. A $45 million, 225,000-square-foot multi-purpose athletic facility recently broke ground that will feature two NHL regulation ice rinks and eight basketball courts, which can be converted to 16 volleyball courts. It is scheduled to open in late fall … Latest Washington DC Stories Colliers Hires George Fox to Lead Norfolk Retail Team Washington DC + DC Metro + Finance | April 22, 2024 Colliers’ Norfolk brokerage team has appointed George Fox as executive vice president. Based in Virginia Beach, Fox will be responsible for raising Colliers’ retail presence in the Hampton Roads area. With a background in retail leasing and sales, Fox has helped shopping center investment companies develop and execute specialized strategies to enhance asset value. His expertise spans landlord/seller … Columbia 153-Unit Mixed-Income Community Opens Washington DC + Maryland + Apartments | April 22, 2024 Enterprise Community Partners, a national affordable housing nonprofit, celebrated the opening of Legacy at Twin Rivers in Columbia, Maryland. The redeveloped affordable apartment community offers 153 new apartment homes in two buildings, aiming to serve a mixed-income population. Legacy at Twin Rivers is part of Enterprise’s larger redevelopment plan in Columbia, which includes replacing 300 … Latest Stories FromOutpost Raises $12.5M Targeting Truck Parking Shortage Alternative Assets | April 23, 2024Outpost, a network of managed semi-truck parking facilities, announced a $12.5 million Series A funding round led by alternative investment firm GreenPoint Partners, with participation from Speedwagon Capital Partners, to accelerate the growth of its managed properties and technology platform. Founded in 2021 as Semi-Stow, the company has rebranded as Outpost to reflect its ...Choreo Names Matthew Gotlin as CIO Financial Advisory | April 22, 2024Choreo, a Chicago-based wealth management firm that manages over $24 billion in client assets with a focus on tax and financial planning, appointed Matthew Gotlin as CIO. Based in Columbia, MD, Gotlin joined Choreo in November 2023 after it acquired the $8.1 billion wealth management practice of BDO USA, where he served as a ...Apella Wealth Tops $4B with 6th Acquisition in Two YearsDirect Investment | April 22, 2024Apella Wealth has acquired ClearLogic Financial, Inc., a $464 million Reston, VA-based registered investment advisor, expanding the financial advisory and wealth management firm’s East Coast presence. Led by President Mark Atherton, who co-founded the company with David Connelly in 2014, ClearLogic provides wealth management services for professionals and pre-retirees in both the federal and private ...Illinois Retirement Earmarks $200M to Alts PortfolioAlternative Assets | April 22, 2024The Illinois Municipal Retirement Fund (IMRF) has allocated $150 million to real assets and $50 million to private equity in a string of commitments. Starwood Capital Group scooped up $100 million for its 13th distressed opportunity fund. Fund XIII is reported to be targeting a hefty $10 billion for investments across the US, Europe and ...
