National Commercial Real Estate News From CoStar Group
Major CRE Firms Say 3Q Deal Slowdown Reflects Client Caution
The largest publicly traded CRE firms reported leasing and sales activity slowed noticeably in the U.S. during the third quarter as businesses wait on the sidelines for clarity from next week’s election and ensuing efforts to resolve nation’s fiscal debt and tax issues before making major property decisions.
Also in third-quarter earnings calls this week, CEOs of the two largest publicly traded CRE companies said the ongoing debt crisis in Europe...
Parkway Takes NASCAR Plaza Trophy for $100M
Parkway Properties, Inc. (NYSE: PKY) has agreed to acquire NASCAR Plaza, a 390,000-square-foot office tower in the CBD of Charlotte, NC, from a joint venture of Trinity Capital Advisors and Rubenstein Partners.
The 20-story building constructed in 2009, which is 88% leased with an average in-place rent per square foot of $25.61, sold for about $100 million. It is located next to the NASCAR Hall of Fame and the racing association has leased 139...
In The Pipeline: CoStar Development & Construction News for Oct. 21 - 27
In The Pipeline is a column on significant acquisitions of commercial land for sale, and other transactions and trends affecting office, industrial, flex, multifamily, mixed-use, hotel and public works developers. Send us news leads about your new commercial real estate project -- and sign up to be added to our distribution list to receive future In the Pipeline columns by e-mail.
San Francisco's Transbay Tower Cleared For Construction