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Commercial Real Estate News

Commercial Real Estate News from the Wall Street Journal

  1. Excuse Me, You're Blocking My Sun
    Australia’s rapid embrace of rooftop panels—now installed on one in four homes in some areas—has collided with another hot spot of investment, construction of apartments and homes.
  2. 1031 Exchange Real Estate Tax Break Faces Extinction
    A much-loved tax advantage in the commercial real-estate industry is on the chopping block even as chances dim for the passage of a broad federal tax overhaul this year.
  3. Mall Tenants Play Hardball In Lease Negotiations
    Retailers, food and beverage operators and department store chains looking to renew their leases have been asking for more allowances from mall owners.
  4. Mall Project Denied on Former Shea Stadium Site
    New York’s highest court on Tuesday blocked the development of a billion-dollar shopping mall on a Citi Field parking lot in Queens, affirming a ruling that the project needs legislative approval to proceed.
  5. New Jersey Landlords Sweeten Perks With Ride-Hailing Subsidies
    Food trucks and fitness centers are among the amenities that New Jersey office landlords have been using to attract tenants.The latest perk: Subsidies for digital ride-hailing services such as Uber and Lyft.
  6. McCourt Global Puts Money Into Modular Construction
    One of New York City’s most prominent investors is betting on modular construction. McCourt Global led a group of investors in a $6 million round of funding for Brooklyn company FullStack Modular LLC.
  7. Owners of Two Connected Midtown South Buildings Refinance Property
    The owners of two connected Midtown South Buildings have secured $430
  8. Barclays Buys Revamped Office Complex in North Jersey
    A joint venture that revamped a bland New Jersey office campus into a modern complex with an amenity building, a bike-share service and walking trails has sold the property to Barclays PLC.
  9. J.P. Morgan More Than Triples West Side Space
    J.P. Morgan Chase is expanding its office space on Midtown Manhattan’s far West Side in a revamped building that has gone from being one of the city’s homeliest to a gleaming structure.
  10. China Life Buys Sprawling Portfolio of Small Market U.S. Real Estate
    China Life Insurance Group is buying a 95% stake in 48 commercial properties scattered throughout the U.S. in deal that values the portfolio at $950 million and highlights the growing appetite among foreign investors for real estate in markets they mostly have ignored until now.

Commercial Property News from the Financial Times

  1. Flammable Grenfell panels withdrawn from sale for high-rises
    Shares in US cladding tile maker Arconic fall sharply in New York trading
  2. Arconic shares fall on Grenfell cladding concerns
    US engineering group to discontinue production of flammable building panels
  3. Insurers warned of tower fire risk in month before Grenfell
    ABI told housing consultation flammable cladding increased ‘potential scale of loss’
  4. Whitbread investors can afford to sleep easy
    Current share price values a Costa Coffee turnround on just a few times earnings
  5. Berkeley lifts profits 53% but warns on outlook
    Housebuilder sees “prolonged uncertainty” ahead citing Brexit
  6. Wolseley revenue growth accelerates
  7. Ashtead takes the hire ground in a mad world
    Profits soar as builders are persuaded to rent rather than buy equipment
  8. LafargeHolcim faces French inquiry over Syrian scandal
    Investigation into why cement plant stayed open as civil war broke out
  9. UK construction activity rebounds in May
    Employment rising strongly on steady demand for housing, says PMI survey
  10. UK construction activity unexpectedly improves – IHS Markit

Commercial Property News from Property Week

  1. Commerz Real puts Athene Place on the block for £120m
    Commerz Real, the property fund owned by German finance giant Commerzbank, is set to put Athene Place in London’s Midtown on the market, Property Week can reveal.
  2. The Crown Estate delivers 8.1% annual return
    The Crown Estate has delivered a total return of 8.1% in a busy year that saw it complete sales, acquisitions and capital expenditure totalling £1.2bn.
  3. Industry veterans launch Delancey-backed small cap investment firm
    Industry veterans David Boyle and Brad Beanblossom have announced the formation of a new investment advisory firm, NW1 Partners, focused on small cap value-added property investments in the US, UK, and Europe. 
  4. Russian billionaire buys Holland & Barrett for £1.8bn
    Mikhail Fridman’s investment vehicle L1 Retail has agreed to buy health-food retail chain Holland & Barrett from private equity owner Carlyle Group for about £1.8bn.
  5. Deutsche AM spends £310m on London's Southbank
    Deutsche Asset Management (Deutsche AM) has bought 2 and 3 Bankside on London’s Southbank on behalf of its German open-ended real estate funds for around £310m with a top up to be determined.
  6. Green light for First Base co-working hub & homes in Earlsfield
    Mixed-use developer First Base and JV partner Savills IM have received a resolution to grant planning consent from Merton Council for a £70m mixed-use development in Earlsfield.
  7. New partnership forms to develop £150m 'ethical housing' framework for South
    Galliford Try Partnerships and E G Carter & Co have partnered with ‘ethical housebuilder’ Aster Group as part of £150m deal to deliver up to 500 new homes across the south of England each year for the group..
  8. Deutsche AM and pbb provide £69m refinancing for Mayfair building
    Deutsche Asset Management (Deutsche AM) and pbb Deutsche Pfandbriefbank (pbb) have provided a £69m facility to Aerium for the refinancing of its mixed-use building on the corner of Conduit Street and Savile Row in London’s Mayfair.
  9. Four new signings take Nova Victoria above half-let
    Landsec has secured four new lettings at Nova Victoria, with businesses leasing over 74,000 sq ft across Nova South and Nova North to the total scheme let to 54%.
  10. Opus & Bridges launch Midlands spec shed scheme
    Opus Land and Bridges Fund Management have appointed BNP PRE and JLL as joint agents to market the JV’s new speculative industrial scheme CONNEQT.