Sources say HNA Group is in discussions with B&L Management Co. to sell its stake in Manhattan's 850 Third Ave., which the Committee on Foreign Investment in the US has asked it to sell because it is close to Trump Tower. The deal would value the building at $452 million.
Weyerhaeuser Co. was rated highest among the companies related to real estate and construction in the Management Top 250, a ranking based on Peter Drucker's teachings and compiled by the Drucker Institute. The REIT reached this pinnacle in part because of its social responsibility and innovation efforts.
Monmouth Real Estate Investment has purchased a 265,318-square-foot FedEx Ground building in Charleston, S.C., for about $47.2 million. FedEx Ground has a 15-year net lease for the new facility.
President Donald Trump has asked the Securities and Exchange Commission to consider allowing public companies to report results to investors on a biyearly instead of quarterly schedule. He says such a move would promote growth and flexibility.
Taubman Centers is reinvesting in data tools, new store concepts, technology and design. In this interview, operations chief William Taubman explains why the company invested $500 million in its Beverly Center in Los Angeles and how its efforts are already paying off with improved traffic and sales.
Best Buy will acquire GreatCall, which makes the Jitterbug phone and other technology and services designed to help older consumers stay connected and get help in emergencies, for $800 million. GreatCall booked $300 million in revenue last year and boasts 900,000 service subscribers.
Demand was moderate to strong across most major commercial property sectors in the second quarter, which helped keep vacancy rates low and rents rising. Nareit researchers Calvin Schnure and Alexandra Thompson discuss the recent trends in supply, demand, vacancy rates and rent growth. Read the full commentary.
The Paramount film company, Equinox fitness clubs and fashion labels such as Armani and Versace are among the brands entering the hospitality sector. "The hotel business is becoming a lifestyle business," said Chekitan Dev, a professor at Cornell University's School of Hotel Administration.
A number of REITs and other landlords in New York City, including Related Cos, SL Green Realty, Brookfield Property Partners and Vornado Realty Trust, have joined an effort to reduce energy use in the city's largest buildings by 20% by 2030. The plan could significantly reduce greenhouse gases emitted by buildings, according to the Urban Green Council.