Commercial Real Estate News for Monday June 11

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!

Wall Street Is Awash in Sublease Space, a Bad Sign for Landlords

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.”

Billionaire Sam Zell’s on-stage vulgarity at an industry conference this week is putting pressure on the event’s organizer to take a tougher stand.

Retail Center Owners Look to Hotels to Bring New Life to Vacant Big-Box Spaces

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.

Five Takeaways from Nareit’s REIT Week 2018

Here is a breakdown of some of the key points made during the REITs’ presentations at the annual investor conference hosted by Nareit in New York City.

 

ICON18 Panelists As Distribution and Retail Sectors Converge Industrial Demand is Outstripping Supply

The demand for industrial space is outstripping the supply, driven by the convergence of the retail and distribution real-estate sectors, according to speakers at a conference that brought executives from around the country, and the world, to New Jersey’s Gold Coast.

 

Ipsen Shifting North American Headquarters to Cambridge

Global biopharmaceutical group Ipsen is moving its North American headquarters to Cambridge, MA, the Paris-based company disclosed at the 2018 BIO International Convention held this week at the Boston Convention & Exhibition Center.
 

UPDATED IKEA Calls Off Plans for Big Box Stores in Three US Markets

After opening 27 stores in the U.S. in the past 15 years, iconic Swedish component-furniture retailer IKEA has called off expansion plans in three markets while it considers making potentially far-reaching changes to its growth plans in a rapidly changing retail environment.

Not So Fast Blackstone; Pebblebrook Ups Offer for LaSalle Hotel Properties

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.

 

Here at myNOI.com our team researches daily to find you the most important commercial real estate news!
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