10 Must Reads for the CRE Industry Today (March 26, 2015)

10 Must Reads for the CRE Industry Today (March 26, 2015)

  1. Red Building at Pacific Design Center Getting Tenants at Last “Internationally renowned architect Cesar Pelli envisioned three striking towers in West Hollywood — clad in bright blue, green and red.” (Los Angeles Times)
  2. Downtown Brooklyn is Ripe for More Office Space “Downtown Brooklyn is in need of new commercial space and there's no better time than now to get some on the market, according to a local development corporation. Back in July, Mayor Bill de Blasio announced that the city would consolidate some of its 1.4 million square feet of office space in publicly owned buildings with the aim of eventually freeing up opportunities for private companies wanting to set up shop in the area.” (Crain’s New York Business)
  3. Statler City Apartments Site Plan Gets Detroit City Council’s Green Light “The Detroit City Council has given site plan approval for construction of the first new multifamily building downtown in 25 years. Construction on the 235-unit Statler City Apartments by Farmington Hills-based Village Green Cos. is expected to begin in the second quarter next year and be completed in the fourth quarter of 2017.” (Crain’s Detroit Business)
  4. Market Share: With Companies Looking to Cut Costs, Office Shares are All the Rage “Co-working companies—which offer cut-rate office space so long as tenants are willing to share—are rushing into the Midtown South market, and beyond. There are almost too many shared workspace landlords to count, so in an attempt to scramble for their own piece of the pie, they’re all marketing themselves differently.” (Commercial Observer)
  5. Trinity Shopping Four Ground Leases in Hudson Square “Trinity Real Estate is ground leasing four office buildings in Hudson Square. The 99-year lease on the properties — for which proposals were due last week — could fetch $1.25 billion or more as rents have skyrocketed to the mid-$70s in the area.” (The Real Deal)
  6. Oaktree’s Marks Warns Liquid-Alternative Funds Won’t Deliver “Howard Marks, the billionaire co-founder of Oaktree Capital Group LLC, isn’t a fan of liquid alternatives.” (Bloomberg)
  7. Pimco Bets on Rental Homes in Buyout of Former Analyst “Pacific Investment Management Co. is increasing its stake in U.S. single-family rental homes after making an investment in the industry about two years ago.” (Bloomberg)
  8. RadioShack Auction Winner Standard General Faces Court Fight “RadioShack’s chances of surviving bankruptcy are growing increasingly dim, as top-ranking lenders mounted a new challenge to the company-saving bid from hedge fund Standard General LP., which has been declared the highest and best offer at an auction.” (Wall Street Journal)
  9. ‘Grand Bargain’ on Land Use in Utah Offers Something for Everyone “San Juan County Commissioner Phil Lyman made a defiant point about land use when he led an unauthorized ride of all-terrain-vehicle users into a nearby scenic canyon last May after it had been closed by the Bureau of Land Management to protect archaeological artifacts.” (Wall Street Journal)
  10. Residential Construction Permits Climb in 2014 “The number of residential units approved per year has steadily risen over the last five years, carried by the outer boroughs where the demand is higher, according to a New York Building Congress report released today.” (Commercial Observer)
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