National Commercial Real Estate News From CoStar Group
Rent Perks for Landlords: Transit-Oriented Apt. Developers Reap Occupancy, Income Premiums
Stubbornly high gas prices and gridlocked freeways have compelled younger workers and retiring Baby Boomers to rethink the suburbs as a place to live and work. As the apartment pipeline again fills to pre-recession levels, recent construction data shows that cities and forward-thinking multifamily developers are getting the message.
A CoStar analysis of apartment construction data since 2000 shows a significant shift over the last couple of years...
Tesco Throws In the Towel On U.S. Retail Expansion
Admitting that its bid to crack the U.S. grocery store market has failed, Tesco plc., the largest retailer in the U.K. and one of the world's leading international retailers, announced today that it has dismissed the CEO of its 199-store Fresh and Easy U.S. chain and appointed Greenhill to review its options for its U.S. stores.
Those options include seeking a joint venture partner, although Tesco's chief executive Philip Clarke aknowledged that...
Watch List: Latest Specially Serviced Loans
Retail property loans made up the bulk of large CMBS loans transferred to special servicing in the past month.
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Included among them is a four-property portfolio affiliated with Rubloff Development Group Inc. of Rockford, IL. The properties generally in rural areas and two have high lease availability. The four properties are as follows.
Hutchinson Mall is 525,328-square-foot mall at Kansas Highway...
Sulentic Takes Helm at CBRE Group
CBRE Group Inc. (NYSE: CBG) announced that the firm's president (and former Trammell Crow Co. CEO) Robert E. Sulentic took over as CEO of the world’s largest commercial real estate services firm on Dec. 1, replacing the retiring Brett White.
White, who led CBRE as its chief executive since 2005, oversaw substantial growth of client services and global capabilities of the company. His signature achievements include the acquisition of Trammell...