Commercial Real Estate News for Tuesday June 19

In Tuesday’s commercial real estate news – we’ll give you a look at the Ocotillo development, the commercial real estate lending revolution, the Atlanta apartment boom, and so much more.


Advisors Commercial Real Estate facilitates Downtown Ocotillo development

Chuck Wells, Managing Principal of Advisors Commercial Real Estate (“ADVISORS”) and his team (Trask Switzenberg and Darrell DeShaw) are representing developer HCW, LLC and JV Partner Thompson Thrift Retail Group in redeveloping Phase II of the Downtown Ocotillo retail center in Chandler, Arizona.  The redevelopment is designed to better suit the desires of the community by attracting “best of” local concepts.


BOISE, Idaho/ June 19, 2018 (STLRealEstate.News) — The LendingCoin, located in Boise, Idaho, will solidify a prominent and historic position in the banking and finance world. The LendingCoin will be the first investment firm to refinance a commercial real estate property using Blockchain Technology.



Facebook Out Leasing Co-Working Firms as Part of Bay Area Expansion

Facebook is continuing to expand throughout the San Francisco Bay area, most recently in Fremont where the social media giant just leased 14 buildings across Dumbarton Bridge from its Hacker Way headquarters. 

Atlanta Apartment Boom Finally Reaches Downtown with New Peachtree Center Tower

Downtown Atlanta no longer must watch from the sidelines as developers race to build high-rise housing in Midtown and Buckhead. Miami’s Banyan Street Capital and Greystar are seeing to that with plans to build a $120 million apartment tower atop a Peachtree Center parking deck. 

Dynegy Vistra Merger Adds to Downtown Houstons Sublease Market

Dynegy Inc, a formerly independent electric company based in Houston, has listed roughly 103,000 square feet of sublease space at 601 Travis in downtown Houston after announcing plans to cut 308 jobs at its headquarters.

Ford Buys Abandoned Michigan Central Station in Detroit

Ford Motor Co. announced its purchase of the Michigan Central Station, an abandoned 504,585-square-foot former intercity passenger rail depot in Detroit’s Corktown district, from Crown Enterprises for an undisclosed price. 

Zell Removed as Conference Speaker After Making Offensive Remark

Billionaire Sam Zell has been removed as a keynote speaker at a Mizuho Americas conference following a vulgar comment he made about women earlier this month.


Prudential, CBRE Join Tech Startup MetaProp’s $40 Million Fund

Some of the biggest names in the traditional commercial-property worldare participating in a $40 million venture capital fund aimed at bankrolling real estate technology startups.


Banks Get More Generous with Construction Loans for New Apartments

It’s getting a little easier to find a construction loan to build a new apartment property, compared to the end of 2017.

Banks are getting more aggressive,” says David Webb, vice chairman of debt and structured finance with CBRE Capital Markets, based in Washington, D.C. “It is getting easier to get deals done.”



10 Must Reads for the CRE Industry Today (June 19, 2018)

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