In Tuesday’s commercial real estate news – we’ll give you a look at Aetna Inks’ Office deal, the Seattle leaders that are poised to scrap head tax, how the cloud technology will help run the CRE industry, and so much more.
Insurance giant Aetna has agreed to a lease for about half of a planned 175,000-square-foot office building at the new Plantation Walk development in Plantation, FL.
On May 15, the Vallejo City Council unanimously voted to enter exclusive negotiations with Nimitz Group to redevelop 157 acres at the north end of the Mare Island former Navy shipyard into a 1.2 million-square-foot commercial development that already has letters of intent from SHM Partners Film Mare Island, Joel Gott Wines and Safe Harbor Wine Partners.
As they battle the rise of e-commerce, U.S. mall owners are trying to clear their books of fading centers so they can focus on the most-profitable ones. That’s proving difficult, with just a shallow pool of investors who are willing to take on a declining mall and even fewer who would pay what the landlords want.
Catch up on the latest in CRE news today!
The ratings agencies described the overall declines in CMBS loan quality as “modest” and “benign.”
The mid-year rate hike is already baked into strategies for most investors and shouldn’t cause any major surprises or hiccups on pending deals.