Office and retail CMBS loan defaults drove the overall default rate higher in 2023, Fitch Ratings said Tuesday. The total annual and cumulative U.S. CMBS loan default rates for 2023 increased to 0.9% and 18.5%, respectively, from 0.3% and 17.9%…
The DeKalb County Board of Commissioners rezoned land surrounding the Indian Creek station, the final stop on the Blue Line located off Durham Road and adjacent to Interstate 285. The approval will allow for a dense makeover of the 64-acre…
Multifamily residential developer Laurel Street started work on Springhouse Square, a new mixed-income, multi-generational apartment development located at 3800 Shamrock Drive in east Charlotte. The first units will be available by spring of 2025, and the project will be fully…
B+E, an investment brokerage firm specializing in net lease real estate, announced the sale of a FedEx Ground distribution facility in Portland’s Swan Island Industrial Park for $32.5 million. The cap rate establishes the 2024 benchmark cap rate for FedEx….
EQT Exeter paid $36.25 million ($125/square foot) for an office/industrial portfolio within Satellite Place at Commerce Ave in Duluth, Georgia. The portfolio, spanning 289,921 square feet, is a collection of four flex industrial /R&D/office buildings. The offering comprises three industrial…
The Catawba Nation will break ground on a new $700 million casino complex, Two Kings Casino Resort, in Kings Mountain, NC. The first phase includes an “introductory casino” with 1,350 electronic gaming machines, 12 table games, a 40-seat restaurant and…
Ship Essential, a Brooklyn-based third-party fulfillment company, has opened its first Southern California location in Downtown Los Angeles. The new facility encompasses 36,400 square feet at 2535 E. 12th St. at The Box Yard DTLA and will cater to retailers…
MicroVention, a neuroendovascular medical device company, acquired 45 Enterprise, a 242,706-square-foot high-rise office building in Aliso Viejo, for $42.25 million, or $183 per square foot. CBRE’s Carol Trapani and Allison Kelly represented MicroVention. Newmark’s Kevin Shannon, Rob Hannan, Paul Jones, Ken White and Brandon White…
Longfellow Real Estate Partners, among the largest privately owned investors and developers of life science real estate, has delivered its renovated San Mateo Science Center campus in mid-Peninsula. Acquired by Longfellow in 2021, the two buildings located at 901 and 951 Mariners…
A joint venture partnership between Oak Brook-Illinois-based real estate investor Clear Height Properties and Harbert US Real Estate, an investment strategy sponsored by Harbert Management Corporation, has acquired a 64,340-square-foot, single-tenant light industrial building at 9999 Virginia Avenue in Chicago…
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