A European company known for its massive wellness-focused resorts plans to spend $800M to bring one of its first U.S. facilities to the Metroplex.
If there was going to be a winner crowned in the slow recovery of the office market by building type, the trophy would go to its namesake.
Trophy buildings average 13% vacancy nationally compared to 17.9% for Class-A buildings, Newmark said in a report released Tuesday.
In the six strongest, most mature U.S. submarkets — LA’s Century City, Uptown Dallas, Chicago’s West Loop, D.C.’s central business district, Manhattan’s Park Avenue and Boston’s Back Bay — the divide is even steeper. Trophy buildings in those areas average 10.5% office vacancy vs. 16.5% for Class-A buildings.
That vacancy has also held stable since before the pandemic. It is…
Federal agencies face an April 14 deadline to submit proposals for moving their office spaces out of Washington, D.C., as part of the broader push billed as a move to cut costs and decentralize the federal government.
While D.C.-area landlords and brokers lament the potential loss of major tenants, economic development and CRE professionals elsewhere in the U.S. are energized by the possibilities. But the realities and logistics of moving massive agencies and their employees are complex, and such an operation is unprecedented.
“This is a new arena in economic development,” said John Boyd, principal at The Boyd Co., a site selection…
Bankruptcy has become an epidemic among big-box retailers, loosening up what has been a historically tight retail market.
With Big Lots, Party City and Joann all liquidating their stores, landlords find themselves awash in empty anchor spaces at a precarious moment for the economy.
A pair of office and retail properties on Boston’s Long Wharf, one of which dates back to before the Revolutionary War, has obtained new debt after undergoing a renovation.
Capital Properties, the owner of the Custom House Block and Gardiner Building at Long Wharf, secured a $34.3M refinancing loan, broker Colliers tells Bisnow. The financing was provided by Grant Street Funding.
The Custom House Block was built in 1848 and the Gardiner House in 1760.
The Gardiner House was once home to John Hancock’s Counting House and served as storage for cargo. Now, the building is home to Chart House, a seafood restaurant. The Custom Block House was leased to the federal…
Mayor Cherelle Parker’s much anticipated housing plan is finally coming into focus.
Philadelphia’s top executive revealed new details about what she called “the largest single investment in housing in Philadelphia history” Wednesday — a $2B package that includes a boost in the city’s real estate transfer tax and a simultaneous cut in its construction levy.
The billionaire chairman of Chinese conglomerate Alibaba Group Holding Ltd. says a bubble is forming in the data center sector.
L&G has formed a new partnership with Japan’s Nomura Real Estate Development to deliver more than 1,000 rental homes following the acquisition of their first site in Herne Hill, Lambeth.
The initial development will deliver more than 200 residential homes, with 35% designated as affordable housing. The development will also feature a range of amenities, including landscaped communal gardens, coworking spaces and a gym.
The partnership will initially target sites in central London, focusing on brownfield and underutilised land to “help regenerate communities and maximise the delivery of sustainable, high-quality homes,” the partners said at the announcement.
Over the next five years, the partnership aims to…
Newfound power demand created by the artificial intelligence boom has led to a mammoth investment in energy infrastructure across the U.S.
Schneider Electric announced Tuesday that it plans to spend $700M in the sector through 2027. The money will be used for “smart factory transformations” at eight facilities across North Carolina, Texas, Massachusetts, Tennessee, Ohio and Missouri.
With demand for new homes at a fever pitch across Texas, developers of master-planned communities can spend tens of millions of dollars to lay out roads, water and sewer lines, treatment plants and the like.
Now, a new tool is helping to accelerate the repayment of funds shelled out for infrastructure improvements. And with almost $700K in financing under its belt, Launch Development Finance Advisors’ forward-funding bond program is already spawning other Lone Star State imitators.