Real Estate Journal: Your Essential Daily Commercial Real Estate Briefing: August 2, 2024
Daniel Bagdazian
Commercial Leasing & Sales Specialist @ Radius Group | Ventura County, CA.
Good Morning!
Here's your 5 min daily newsletter on what matters in commercial real estate.
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Blockbuster Deal Never Arrived for This Former ‘Grave Dancer’ REIT Billionaire real estate investor Sam Zell was known for headline-grabbing transactions, including a stomach for distressed deals that led to his colorful nickname, “the Grave Dancer.”
California Multifamily Market Poised for a Resurgence CRE participants signal increased retail development, while office development is flat and industrial takes a pause.
CBRE Closes Single-Tenant Sales in Manhattan Beach, Oxnard CBRE has arranged the sales of two single-tenant retail properties in Manhattan Beach and?Oxnard, leased to El Pollo Loco and McDonald’s, respectively, in two separate transactions totaling nearly $10 million.
San Francisco Bans ‘Price-Fixing’ Software for Apartments San Francisco has become the first U.S. city to prohibit the use of algorithmic software for setting multifamily rents and managing occupancy.
Virtú Venture Pays $171.96Mln for Seattle Apartments, Assumes $133Mln Loan Commercial Real Estate Direct Staff Report A venture of Virtú Investments and Goldman Sachs Alternatives has paid $171.96 million, or $508,757/unit, for the 338-unit Skyglass Tower apartment
L.A. County to Offer $215M for Gas Company Tower The County of Los Angeles plans to offer $215 million in an all-cash deal for the distressed Gas Company Tower, sources told Commercial Observer.?
Office Owners In ‘Resilience Arms Race’ To Outrun Weather-Fueled Obsolescence Houston has one of the highest office vacancy rates in the country,?and local CRE players are quick to?point out that?it’s easily explainable:?Much of the vacancy is concentrated in older buildings that lack amenities or a prime location to make?them appealing, rendering them functionally
Howard Lutnick hosting Trump fundraiser in Hamptons Cantor Fitzgerald exec plans to raise $10M at his estate this Friday
Donald Bren of Irvine Company leads parade of OC’s wealthiest Six real estate moguls in the county account for $47B in net worth; Bren has $18B
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"I have not failed. I've just found 10,000 ways that won't work." - Thomas Edison