Top News for Real Estate Pros
San Diego Broker Pleads Guilty for Role in City’s Purchase of Office Tower It Couldn't?Occupy
Jason Hughes agreed to pay the city $9.4 million and a $400 fine to the state of California after pleading guilty to a single criminal count Thursday in San Diego County Superior Court. The county district attorney said Hughes created a conflict when he improperly accepted a total of $9.4 million from the seller of two downtown buildings while representing the city as a volunteer adviser in the purchase of those properties.
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Here’s Why More Corporate Campuses Are Getting Warehouse?Conversions
Developers across the United States, in regions as varied as the San Francisco Bay Area and greater Chicago, are capitalizing on pandemic-related shifts that have resulted in hundreds of millions of square feet of vacant offices that, thanks to rising demand and pricing for industrial property, are now financially feasible to overhaul into logistics space in markets that just a few years ago weren't practical.
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New York’s Flatiron Building Sale Thrown Into Confusion by Lack of Down?Payment
Managing Partner Jacob Garlick of Abraham Trust, billed on its website as a multifamily office and growth equity venture fund, didn’t make the $19 million deposit required by Friday, auctioneer Matthew Mannion of Mannion Auctions said in an interview with CoStar News. He added it’s not clear if an extension was officially granted.
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The Changing Face of Real Estate: How CEO and Daughter Manage Family Ties at Avison?Young
Surrounded by real estate talk for much of her life, Marissa Rose joined the industry in 2012 and has become a vice president in the capital markets group for development and retail in the Chicago office of Avison Young .
"I was just exposed so much to real estate because of what dad did. I knew at seven or eight years old I wanted to be in commercial real estate," she said during an interview with CoStar News that included her father, Mark Rose.
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Salesforce Seeks To Offload Large Block of Office Space in New Chicago?Tower
San Francisco-based Salesforce will begin formally marketing a large block of its 500,000-square-foot space along the Chicago River soon, a company spokeswoman confirmed Thursday, citing previously announced job cuts and plans to cut back on real estate. Salesforce is set to move into the 1.2 million-square-foot tower, which broke ground in the early weeks of COVID-19, by late May.
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