The Prince William County Board of Supervisors will vote tomorrow on a plan to convert rural land into as much as 27 million square feet of data centers, according to The Washington Post. The “Digital Gateway” proposal asks the county … Continue reading →
In the industrial sector, REITs and institutional investors are replacing smaller, private owners. According to Business Insider (citing data from CBRE), over each of the past 12 years, institutional investors have purchased more warehouse space than they’ve sold, while private … Continue reading →
The current Bank of England base interest rate—the rate that largely determines mortgage interest rates—is 2.25 percent. This week, the average interest rates for two and five-year fixed rate mortgages topped six percent for the first time in over a … Continue reading →
The DFW Metroplex ranked as the number one U.S. market in CRE sales during H1–2022, according to The Real Deal (citing data from MSCI). DFW metroplex sales totaled $22.9 billion during H1–2022 followed by Los Angeles ($15.5 billion). Nationwide, a … Continue reading →
Wisconsin-based Kohl’s is a department store retail chain with roughly 1,150 stores. According to CoStar, as of January, the Kohl’s Corporation owned 410 locations, leased 517 locations and operated 238 stores at ground leased sites. Kohl’s is considering monetizing its … Continue reading →
The 2.5-acre vacant lot at 1201 Brickell Bay Drive (in Miami’s Brickell neighborhood) sold on April 20, 2022 for $363 million ($145,200,000/acre), according to Miami-Dade Office of the Property Appraiser. TWJ 1201 LLC, an entity linked to Tibor Hollo’s Florida … Continue reading →
As mortgage demand falls, residential real estate companies are reducing their workforce. Redfin is laying off 470 employees and Compass is shedding 450 jobs (10 percent of its workforce), according to MarketWatch. The Federal Open Market Committee (FOMC) voted this … Continue reading →
A reciprocal easement agreement (“REA”) is a legal agreement between individual property owners that provides for the rights and obligations of the owners and coordinates the development, operations and maintenance of the affected properties. REAs may contain provisions that address … Continue reading →
The Q2–2021 median sale price for condos and co-ops in Manhattan rose to $1,130,000 – its highest level in eight quarters, according to Douglas Elliman. The number of sales surged 151.8 percent year-over-year to 3,417 and the months of supply … Continue reading →
Single-tenant net lease cap rates registered at historic lows in Q4-2020, according to The Boulder Group. Single-tenant industrial cap rates compressed by 13 basis points to 6.75 percent. Single-tenant retail cap rates compressed by six basis points to 6.00 percent … Continue reading →