Net lease cap rates have risen again in the second quarter of 2024, with average caps increasing by 12 basis points quarter-over-quarter to 6.27%, B+E reported. Also up are the average times on the sale market, which increased by 0.8…
The Wake County Board of Alcoholic Beverage Control (ABC) has purchased an industrial building in Garner at 600 S. Greenfield Parkway for $27.5 million. Wake County ABC’s current footprint is 8,000 square feet of office space and 70,000 square feet…
New City Properties and Method Co. will open FORTH Atlanta, a $150-million, 16-floor development that will include a 196-room luxury boutique hotel with 39 apartment-style rooms dedicated for extended stays. The joint venture expects to open its doors in June 2024. There will be…
Red Lobster Management LLC said late Sunday evening that it had filed for Chapter 11 protection in the United States Bankruptcy Court for the Middle District of Florida. The move was widely expected; CNBC reported in April that the seafood restaurant operator was seeking…
Brea-based Healthcare Property Advisors has launched HPA Exchange LLC, a real estate investment sponsor that will provide accredited investors with private placement opportunities anchored by medical properties. The platform will initially focus on Section 1031 exchange offerings. HPA Exchange will…
DAUM Commercial Real Estate Services has completed the sale of a 49,561-square-foot industrial building at 1141 California Ave. in Corona. The sale price was $15.99 million. “The sale of this property was the culmination of a yearlong project with our client…
Grindr Inc. is opening a new office in Chicago, which will serve as the company’s primary global engineering hub. The LGBTQ+-focused social networking app cited strong financial performance throughout 2023 as a driver for the new office. Located at 230…
NAIOP SoCal President and Kidder Mathews regional president Eric Paulsen recently sounded the alarm on the lack of commercial real estate industry engagement on legislation that can prove detrimental to the industry’s interests. Actions such as emailing or calling a…
A company called Autoport is under contract to purchase a 400-acre timber tract owned by Jordan Lumber where it plans to spend more than $100 million to create the Uwharrie Motorsports Park and Resort. The resort will be in Robbins, on…
The National Football League’s (NFL) Jacksonville Jaguars have received tentative approval for their plans to rebuild the EverBank Stadium, as part of a $1.4 billion deal with city leaders. The franchise and city will pay $625 million each for the…
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