Commercial Real Estate News for Tuesday June 12

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.

8% Preferred Significantly Better Than Common Shares

For investors interested in The REIT Forum’s preferred share ratings, see my guide to preferred shares. I also have a guide for preferred share dividend captures.


Aetna Inks Office Deal at Floridas Plantation Walk

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.

Help Wanted World Renowned Architect to Design OHare Expansion

Want to design the $8.7 billion O’Hare International Airport expansion plan? The Chicago Department of Aviation issued a pre-alert Monday that a request for qualifications for lead architectural design services will be issued June 18.

Seattle-Leaders-Poised-to-Scrap-Head-Tax-After-Business-Backlash

The Seattle City Council is set to consider repealing a “head tax” on large employers aimed at funding affordable housing and services for the homeless, less than a month after approving a watered-down version of the legislation that draw the wrath of Amazon, Starbucks and other large employers.
The world generates around 2.2 billion gigabytes of data each day, according to a report published by McKinsey Global Institute.
When you drive by a strip mall, you probably notice it in an absentminded sort of way. Maybe you get a little hungry if there is a popular restaurant you particularly like out front, or maybe you remember you had been meaning to stop by that big-box arts-and-crafts or DIY store.

Vacaville, Vallejo: Land of big commercial real estate opportunity

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.

Owners of Fading Malls `On Their Knees’ as Buyer Pool Evaporates

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!

Increase in Interest-Only CMBS Loans Worries Ratings Agencies

The ratings agencies described the overall declines in CMBS loan quality as “modest” and “benign.”

Interest Rates vs Cap Rates: Will Fed Rate Hikes Put More Pressure on Pricing?

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.

 

 

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