Commercial Real Estate News for Tuesday May 29

In Tuesday’s commercial real estate news – we’ll give you a look at the Detroit Commercial Real Estate Summit, Bourke Street Tower selling for nearly $72m, and so much more.

Detroit Commercial Real Estate Summit: More than 250 celebrate the good news

More than 250 of the region’s industry leaders attended the fourth annual Detroit Commercial Real Estate Summit held last week at the Detroit Athletic Club. The event, held by REJournals, featured panels focusing on the multifamily, industrial, retail and office segments. And the tone? Optimistic.

HSBC BUILDING IN PARRAMATTA TIPPED TO FETCH $9 MILLION UNDER THE HAMMER

A commercial building in Sydney’s Parramatta is expected to sell for $9 million – almost triple its value from its last sale 16 years ago.
 
 

RioCan Hires RBC to Shop London Retail Centres in Planned Exit from Market

RioCan Real Estate Investment Trust has formally listed its 10 shopping centres for sale in London, in a move that will mark the REIT’s exit from the southwestern Ontario town. 
 

Exclusive: Project Wolfe company identified; seeks $500,000 in incentives

This high-growth software company will invest more than $1.5 million in a downtown office space over the next two years.

Bourke Street tower sells for $72m

The bullish outlook for Melbourne’s office sector has underpinned the sale of a B-grade Bourke Street tower which has transacted for an estimated $72 million.

Foreign requests to buy Aussie homes collapse

The number of applications from foreigners to buy Australian homes has plunged, falling nearly two-thirds over a year as new fees, rules and taxes take effect, government data shows.

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