In Monday’s commercial real estate news – we’ll give you a look at how retail center owners are looking to hotels to bring life to big-box spaces, the 5 takeaways from Nareit’s REIT Week, IKEA’s decision to call off plans for 3 more big box stores, and so much more.
Catch up on the 10 must reads for the CRE industry today!
When the Murdoch media empire abandoned plans to move from midtown Manhattan to the World Trade Center two years ago, developer Larry Silverstein put on a brave face. “Make no mistake,” he said. “Downtown’s momentum is palpable and unstoppable.”
Hotels appear to be a particularly good fit for retail centers, which tend to have ample parking, prime locations and shopping, restaurants and entertainment options readily available for travelers.
ICON18 Panelists As Distribution and Retail Sectors Converge Industrial Demand is Outstripping Supply
Refusing to give up its fight to acquire LaSalle Hotel Properties, Pebblebrook Hotel Trust submitted a revised offer to buy its fellow Bethesda, Maryland-based hotel REIT for an implied price of $37.80 per common share, which it said represents a 13% premium over the $33.50 per share all-cash buyout offer LaSalle accepted from an affiliate of Blackstone Group last month.