Cedar Realty Trust is working with advisers as it considers strategic alternatives, including the potential of a full sale, according to a source. The REIT is also reportedly exploring the sale of its portfolio of mixed-use redevelopment projects and grocery-anchored shopping centers.
Vantage Data Centers, whose parent company is DigitalBridge, is expanding in the Asia-Pacific region, with the growth aided by acquisitions of Agile Data Centers and the data center portfolio of PCCW. "The key to our global expansion has been finding well-aligned partners who bring local expertise, an established footprint, a strong management team and the ability to scale quickly," said Sureel Choksi, Vantage's president and CEO.
Healthcare Trust of America has acquired a 106,135-square-foot medical office building in Boca Raton, Fla., for $50 million. The property last traded in 2004 for $23.5 million.
Microsoft will no longer fully reopen its headquarters and other offices in October as it had previously indicated. The company will not commit to a new date for reopening at this time, but it says it will notify staff ahead of time when reopening is imminent.
In-person conventions are slowly starting to happen again, although it could be years before these gatherings reach pre-pandemic attendance. In addition, debate continues about the extent to which virtual meetings will take the place of in-person conferences in the future.
Some Senate Democrats are proposing adjustments to tax rules on partnerships as well as the imposition of a 2% tax on companies' stock buybacks. The tax changes could help fund the $3.5 trillion spending bill.
Russia-based Mere is the latest European grocer exploring options for expanding into the US, following in the footsteps of German discount retailers ALDI and Lidl, which have found success among Americans increasingly drawn to smaller stores with lower prices. ALDI now has more than 2,000 US stores and last year was the country's fastest-growing grocery retailer.
Manhattan buildings with doormen logged their biggest annual rent increase since 2012 in August, according to a report by Miller Samuel and Douglas Elliman Real Estate. Median rents for these properties reached $4,160 after an 8.1% year-over-year increase. Buildings without doormen saw rents fall 12% to $2,595.
The industrial market has shown its strength, with Prologis indicating the potential for strong rent growth this year. This article profiles a number of the leading individuals, teams and organizations in the space.
Reuben Brothers is acquiring Vornado Realty Trust's retail properties at 677, 759 and 828 Madison Ave. in New York City, according to a source. The REIT had previously announced the sale of these properties but did not name the buyer.