13 Apr

Commercial Real Estate News Highlights 2020

Commercial Real Estate News Roundup – Q1 2020

Atalyst puts together a review of the top commercial real estate news highlights and headlines every quarter from Las Vegas, Reno, San Francisco, Southern California, and Austin. The CRE news covers the most recent acquisitions, property developments, market statistics, and economic reports.

Las Vegas CRE News

Las Vegas Commercial Real Estate News Summary – February 2020

Commercial Property Executive (CP Executive) covers all of the major news items around Las Vegas in February. Read More

Blackstone Spends $4.6B in Major Las Vegas Deal

Blackstone’s REIT formed a JV with MGM Growth Properties in order to purchase MGM Grand and Mandalay Bay for $4.6 billion. Read More

Gaming REITs Predicted to Have a ‘Good Chance for Recovery’

While MGM Grand and other casinos on Las Vegas’ Strip have closed to mitigate spreading the coronavirus, experts believe that they are on track for a recovery when business returns. Read More

GlobeSt Covers Atalyst’s Las Vegas Multifamily Report – Q4 2019

GlobeSt interviewed John Gilchrist, founder of Atalyst Financial Group, in order to get the inside scoop on what is going on with Las Vegas’ multifamily market. Read More

Shopoff Realty Investments Sells 34-Acre Property in Las Vegas

Shopoff sold the 34-acre property in LV that was already approved for an 800-unit multifamily development. Read More

Mesirow Financial Acquired Raiders Headquarters for $191M

Mesirow Financial, based in Chicago, inked a sale-leaseback acquisition of the soon-to-be Las Vegas Raiders headquarters. The headquarters include football practice and operations facility, and they confirmed the space for a 29-year lease with seven 10-year extension options. Read More

Reno CRE News

Reno’s Q4 2019 Industrial Real Estate Report Released

According to CBRE Reno, the industrial market in the region is showing robust demand overall. Reno saw its seventh consecutive year of occupancy gains over 3.5 million square feet. Read the Full Report

San Francisco CRE News

Construction in San Francisco Slows Dramatically, But Coronavirus Isn’t the Only Reason

Skyrocketing construction costs over the last several years in The Bay Area are causing a drop in construction projects, that has only been compiled by the current pandemic. Read More 

While Construction May Slow Down in General for San Francisco CRE, Industrial RE Will Have an Uptick in Deliveries

The Bay Area could see an aggregate of 9M square feet in deliveries for industrial real estate properties alone in 2020. Read More

Despite a Slowdown in CRE Due to the Pandemic, Big Leases Are Still Being Signed

Some CRE firms in San Francisco are managing to seal big deals during the beginning stages of the economic shutdown from the pandemic. Read More

Oceanwide Center Sold to New Buyer for $1.2B

Oceanwide Center was initially going to sell to SPF Capital International Limited for $1B, but a new buyer came into the fray in the late stages. Read More

One of San Francisco’s Crowned Jewels, Transamerica Pyramid, Sold to NYC Developer

Transamerica Pyramid, the building that looks like a pen, in downtown San Francisco exchanges hands for the first time ever for over $700M. Read More 

LPC & Goldman Sachs Join Together for Purchase of Office Property in San Francisco

Lincoln Property Company and Goldman Sachs team up with the purchase of an office real estate space in San Francisco. Read More

Kaiser Permanente Pulls the Plug on the $900M Oakland HQ Project

Kaiser Permanente decided to cancel the planned $900-million headquarters consolidation move in Oakland. Read More

Southern California CRE News

Radius Group in Santa Barbara’s California CRE News Roundup with Los Angeles News Items

Radius Group puts together a list of the most prominent news articles in California. A majority of the stories cover the Los Angeles and San Diego areas specifically. Read More California CRE Stories

Austin CRE News

Austin Commercial Real Estate Shows Resilience During Market Downturn Caused by Pandemic

Austin’s CRE market is showing how resilient it is by staying relatively strong during the initial adapting period caused by coronavirus. Read More

Huge Project Near Austin’s Airport Gains a Partner and Much Needed Momentum

Marketplace Real Estate Group is partnering up with another company to create a massive mixed-use project near the Austin airport. It will have 5.5M square feet of multifamily units, offices, retail stores, hotels, and light industrial spaces. Read More

Why Commercial Real Estate Is Such an Important Part of the Economy in Texas

Texas saw it’s first decline in state GDP contributions from CRE for the first time since 2015; however, it is the state with the most contribution from commercial real estate to its GDP in the nation.  Read More

Austin SXSW Center Lands a $65 Million Loan

NorthMarq sealed the deal for a $64.5M financing loan via Pacific Life Insurance Co. for the SXSW Center, which is a 144K square-foot office building. Read More

Wildhorn Acquires Third Multifamily Property in Austin

NKF arranged the sale of Hawthorne at the District, a 1980s-multifamily community property in Austin by the East Riverside corridor. The price of the sale is undisclosed. Read More

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

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