Commercial Real Estate News Highlights 2019
Commercial Real Estate News Roundup – Q4 2019
Las Vegas CRE News
MGM Resorts Sells Circus Circus Casino for $825M
Circus Circus, the 51-year-old hotel and casino in Las Vegas, was acquired by Phil Ruffin, a billionaire casino mogul. This is part of MGM Resorts new strategy to lighten up on assets. Read More
Cannon Commercial Purchases Las Vegas Shopping Center for $44M
Cannon Commercial secured the retail property in Las Vegas with the assistance of Goldman Sachs financing the project. The shopping center, Westland Fair, is 220,000 square feet total. Read More
Blackstone in JV with MGM Agrees to Buy the Bellagio for $4.3B
Blackstone Real Estate Income Trust (BREIT) and MGM Resorts International agree to acquire the Bellagio for $4.3 billion in a sale-leaseback deal. BREIT will be a 95-percent stakeholder in the JV while MGM Resorts will keep 5 percent and run the property / asset on a day-to-day basis. Read More
How Does Las Vegas Stack Up Compared to Top Emerging CRE Markets in the West?
Investors are putting up big dollars in Las Vegas, Salt Lake City, Phoenix, and other major cities out west. How does Las Vegas compare to the bunch? GlobeSt takes a look at the different markets in the region. Read More
Grandbridge Closes Multifamily Portfolio for $567M
Grandbridge Real Estate Capital LLC with the assistance of a government-sponsored enterprise funded $567 million in financing for the recapitalization of a multifamily portfolio with properties in Nevada, Georgia, and Florida. Read More
Reno CRE News
Reno Commercial Real Estate Reports: Office, Retail, & Other Top Stories
NevadaBusiness.com releases CRE reports every quarter with additional business news in the Reno area and for the rest of the state. Read More
Colliers Quarterly Commercial Real Estate Reports
Colliers puts together quarterly reports for CRE in Reno. Reports include office and industrial properties, the latest acquisitions / dispositions, and other real estate news items in the region. Read More
San Francisco CRE News
Parking Could Be NorCal Industrial CRE’s Most Desired Commodity
Industrial buildings and warehouse properties with big parking lots are in high demand in Northern California. This report follows a presentation of many panelists at the Northern California Industrial and Logistics Summit put on by BisNow. Read More
After Massive $1.8B Infusion, Megadevelopment Construction in SF Will Begin Next Year
The developer of one of San Francisco’s most major CRE megadevelopment ever says a loan package boosts the likelihood that the project will finally break ground in 2020. Read More
Apple Follows Facebook and Google with Contribution of $2.5B to Housing
Apple has committed $2.5 billion dollars to housing pledges also made by Silicon Valley companies Google and Facebook. Apple is currently looking for potential developers of the project. Read More
Hotel Chain Spends more than $270M for Location on Fisherman’s Wharf
The former Sheraton hotel at the Fisherman’s Wharf has been acquired as the most expensive hotel purchase of 2019 in San Francisco. Sheraton bought the hotel property in 2016 for $200 million. Read More
Southern California CRE News
Radius Group in Santa Barbara’s California CRE News Roundup with Los Angeles News Items
Radius Group Commercial Real Estate, based in Santa Barbara, puts together a list of the news articles in California. A majority of the stories cover the Los Angeles and San Diego areas specifically. See All California Commercial Real Estate News Articles
Austin CRE News
Amazon Set To Build Huge Distribution Center Outside Austin
Amazon is on the verge of closing one of the biggest development deals in the history of Pflugerville. The e-commerce giant is initiating a project, called Project Charm, that will eventually bring millions of square feet of office and industrial space to the Austin area. Read More
Austin’s Top Real Estate Stories of 2019
BizJournal’s put together a list of the top real estate stories in Austin, TX based on their readers’ picks. The stories chosen can have major implications for the economic situation in the region. Read More
Stratus Will Sell Block 21, Home of Austin City Limits Live, for $275M
Ryman Hospitality Properties is set to acquire the mixed-use entertainment development in a transaction that includes cash and assumption of the existing debt for the property. Read More
Austin’s Unemployment Rate Stays Near Historic Lows
Austin’s unemployment rate stayed steady as of October 2019 at 2.7%, which was the same level as the rate 3 months prior in July. This follows a year with job growth of 2.5%. Read More
Domain Communities Gets Into Austin’s Multifamily Property Market with New Acquisition
Houston-based Domain Communities LLC purchased their first multifamily property in Austin, Iron Rock Ranch. The property has 126 apartment units and 84 townhomes on 22 acres of land. Read More
Apple Begins Development of $1B Campus in Austin
The new Apple campus will be 3 million square feet and used to have an initial 5,000 employees when it is complete in 2022. In future years, that number will grow to 15,000 total employees. Read More
WeWork and Traditional Office Space Real Estate Face a New Competitor
Austin-based Swivel is throwing its name into the hat of “agile office solutions”. In the meantime, WeWork is facing a failed IPO and ongoing liabilities from over-expansion. Read More