Wednesday, September 4, 2013

ExxonMobil Office Campus On Track for Early 2014 Move-In




National Commercial Real Estate News From CoStar Group





ExxonMobil Office Campus On Track for Early 2014 Move-In



Construction is moving forward on the company’s sprawling new Springwoods Village campus at Interstate 45 and the Hardy Toll Road in North Houston

In an employee newsletter, Exxon recently provided details about the development 25 miles north of downtown Houston, one of the largest commercial construction projects under way in North America.

The facility, first reported by CoStar in mid-2011, will accommodate up to 10,000 employees from ExxonMobil...









Burning Down the House? Or Flooding the Market?



Whether they’re buying or selling, federal government entities are keeping bond investors on pins and needles as the summer wanes. First bond investors fretted after talks heated up this summer about the Federal Reserve eventually tapering down its purchase of government bonds - a program referred to as QE3 and widely acknowledged as playing a substantial role in helping re-stimulate commercial mortgage-backed bond issuances this year.

Also causing...









Industrial Rent Rollover: Threats & Opportunities



By: Shaw Lupton
PPR54 industrial rents are enjoying a period of above-trend growth (3.3% year-over-year, compared to a long-term average of about 1.5% since 1994). While that goes a long way toward regaining lost ground, asking rents remain roughly 5% below their long-term trend, suggesting that more above-trend growth is in store before speculative construction ruins the party.

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Investors who are...









Capital Markets Report: WNC Set To Acquire 24 Low-Income Properties in 18 States



WNC, a national investor in real estate and community development initiatives, closed a $150.5 million institutional low-income housing tax credit (LIHTC) fund. The fund, named WNC Institutional Tax Credit Fund 38 LP, will acquire 24 properties nationally ina mix of family and senior properties, including 15 new construction projects and nine slated for rehabilitation.

The properties expected to comprise Fund 38 will deliver more than 2,100 units...









CBL Closes on $176M Sale of Three Southeast Malls



An offshore investor along with Atlanta-based partner Hendon Properties has closed on its acquisition of three malls and three associated shopping centers across three states in a portfolio sale totaling $176 million from CBL & Associates Properties, Inc. (NYSE: CBL)

The transaction included Georgia Square Mall and Georgia Square Plaza in Athens, GA; Panama City Mall and The Shoppes at Panama City in Panama City, FL; and the Rivergate Mall and...









In The Pipeline: CoStar Development & Construction News for Sept. 1 - 7



ExxonMobil Office Campus On Track for Early 2014 Move In

Construction is moving forward on the company’s sprawling new Springwoods Village campus at Interstate 45 and the Hardy Toll Road in North Houston

In an employee newsletter, Exxon recently provided details about the development 25 miles north of downtown Houston, one of the largest commercial construction projects under way in North America.

The facility, first reported by CoStar...









CoStar's People of Note (Aug. 25 - 31)



This week's People of Note includes the following markets: New York City, Chicago, Dallas, Raleigh-Durham, San Francisco, Los Angeles, Long Island, South Florida, Philadelphia, and St. Louis.

NEW YORK CITY
Sofiev-Leviev Tapped as CEO of AFI USA
By Justin Sumner

Real estate development company Africa Israel USA (AFI USA) has named Chagit Sofiev-Leviev as chief executive officer for the firm.

In









USAA Closes On One Riverwalk Place



USAA Real Estate Co., the real estate arm of USAA, acquired One Riverwalk Place at 700 N. Saint Mary's St. in downtown San Antonio, TX.

Constructed in 1981, the Class A, 261,431-square-foot office complex is situated on the banks of the San Antonio River, adjacent to the recently renovated Havanna Hotel and the Southwest School of Art in San Antonio's central business district.

The Energy Star certified property boasts a four-story atrium, full...









JLL Buys Means Knaus, Adds 16 MSF to U.S. Property Management Portfolio



Jones Lang LaSalle’s acquisition of Houston-based third-party property management company Means Knaus Partners (MKP) adds 16 million square feet of office space under management to JLL’s portfolio.

MKP manages 80 office properties across the U.S., primarily in Chicago, Dallas, Houston, Denver, Los Angeles, Orlando and Tampa, FL.

The acquisition will give JLL the number-one commercial property manager position in Orlando and the number-two spot...






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