Commercial Real Estate
Top stories summarized by our editors
2/20/2018

Long-term US bond yields are closing in on 3%, a development that led in part to the stock correction earlier this year. While investors are more confident about the economy now, some worry about the potential for rising inflation.

2/20/2018

A venture capital group involving Barry Sternlicht, Fifth Wall Ventures and New Enterprise Associates has invested in a startup that competes in the short-term rental space. AJJK has a service aimed at corporate and high-end travelers that will roll out in eight markets via deals it has arranged with large landlords.

2/20/2018

Unibail-Rodamco's $23.7 billion offer for Westfield is firm, according to CEO Christophe Cuvillier. It's the best price for shareholders of both companies, he said.

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Westfield
2/20/2018

A Gramercy Property Trust-linked entity sold an office complex in Plantation, Fla., for $43.15 million to a joint venture involving IP Capital Partners and Westport Capital Partners. Gramercy paid $52.1 million for the office park, which consists of two buildings offering about 240,000 square feet of space, in 2015.

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Gramercy
2/20/2018

Urban Edge Properties, which owns nine other shopping centers in Pennsylvania, has sold MacArthur Commons in Allentown, Pa., for $55.3 million. The buyer is reportedly Abrams Realty & Development.

2/20/2018

Stakeholders have been key to Prologis' success with its sustainability initiatives, says Jeannie Renne-Malone, vice president for sustainability at the REIT, which has won the Leader in the Light award in its category every year since 2012. "We have a commitment from our employees across the board to really drive our ESG initiatives," she said.

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Nareit
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Prologis
2/20/2018

CSRHub, which aggregates environmental, social and governance metrics worldwide, has rated 17,000 companies, says Cynthia Figge, co-founder and CEO. High-performing companies tend to rate well across all dimensions of ESG, which is "really tough to do because it's very hard work," she said.

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Nareit
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ESG
2/20/2018

Crown Point, Ind., could see the addition of an outlet center with up to 100 stores. The initial plans for The Fountains of Crown Point also include a theater, a bowling alley, two hotels, restaurants, a grocery store, a fire station and townhouses on 109 acres of land.

2/20/2018

It's possible to gain insight into store closure trends by using review site Yelp's data, writes Edward Glaeser, a Harvard economist. The reviews on the site point to stores closing faster than they opened last year.

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Yelp, Edward Glaeser, Harvard
2/20/2018

Galesburg, Ill., City Council has approved a plan to divide Sandburg Mall into separate lots. The move gives the retail center's owners flexibility in how they can sell or redevelop the property.