Blackstone-Owned New York Office Building Goes Up for Sale, Silver Star To Sell Properties Tied to Loan A Weekly Look at the Commercial Mortgage-Backed Securities Business By Mark Heschmeyer and Nicole Shih CoStar News September 21, 2023 | 9:19 AM Decline in Office Values Outpaces Great Recession: The values of office properties financed by troubled loans in commercial mortgage-backed […]
Property Executive Looks To Turn Recreational Vehicle Demand Into REIT Storage Powerhouse
Former CyrusOne CEO Gary Wojtaszek Plans To Deploy Billions on RV and Boat Facilities RecNation is expanding its portfolio of storage properties for recreational vehicles and boats across the country. (RecNation) By Candace Carlisle CoStar News September 13, 2023 | 2:39 P.M. Gary Wojtaszek came out of retirement to accomplish something he has done before: Grow […]
CEO Exits As Drugstore Giant Walgreens Trims Store Footprint Across US and UK
Company Views Healthcare Services, Not General Merchandise Sales, As Its Growth Driver Walgreens has nearly 9,000 stores in the United States, including this one in South Carolina (CoStar) By Linda Moss CoStar News September 1, 2023 | 4:22 P.M. A change in leadership for global drugstore giant Walgreens Boots Alliance is part of a pivot by a streamlining […]
Deadheads Drive Higher Hotel Demand Than Swifties in Bay Area
Deadheads Drive Higher Hotel Demand Than Swifties in Bay Area Concerts, Music Festivals Drive Summer Hotel Performance in San Francisco Dead & Company performs their last show together July 16 at Oracle Park on their farewell tour in San Francisco. (East Bay Times/Getty Images) By Emmy Hise CoStar Analytics August 24, 2023 | 8:24 AM Taylor Swift’s […]
Capital Flows Into Industrial Sector Should Put Ceiling on Yields
Outperforming Rent Growth Keeps Driving Mark-to-Market Opportunities Built in 1997, this distribution center at 101 N. 103rd Ave. in Tolleson, Arizona, was sold as part of Prologis’ $3.1 billion portfolio acquisition from Blackstone. (Brandon Aran/CoStar) By Adrian Ponsen and Chad Littell CoStar Analytics August 15, 2023 | 3:22 P.M. While the current commercial real estate price correction is […]
Bain Capital To Buy Fogo de Chão in Latest Sale of Restaurant Chain
Brazilian Steakhouse Looks To Accelerate Expansion Under New Ownership Fogo de Chão offers meats that are roasted in the churrasco style and carved by gaucho chefs. (Fogo de Chão) By Linda Moss CoStar News August 15, 2023 | 4:57 P.M. Bain Capital Private Equity is buying Fogo de Chão, the chain of Brazilian-style steakhouses, in just […]
WeWork’s Troubles Cast New Shadows Across the Real Estate Industry
Landlords, Lenders Face Exposure to Coworking Giant’s Struggles One of WeWork’s busier locations in Miami sits atop a public parking garage in the Wynwood arts district. (Andria Cheng/CoStar) By Andria Cheng CoStar News August 16, 2023 | 12:24 P.M. WeWork’s recent declaration that “substantial doubt exists” about its ability to continue as a going concern threatens to further […]
Retail Property Sales Remain Sluggish
Higher Interest Rates Weigh on Larger Deals, While Sales of Smaller Centers Stay Active Private investors have been scooping up smaller retail centers but deals for larger centers have been put on hold. (iStock) By Chad Littell and Brandon Svec August 14, 2023 | 2:05 P.M. The retail space market is enjoying its strongest operating environment in over […]
Aldi Adds To Grocery Consolidation With Deal to Buy Winn-Dixie, Harveys Supermarkets
With Merger, German Discount Chain To Add Roughly 400 Southeast Stores Aldi said it will evaluate which Winn-Dixie and Harveys Supermarket stores will convert to its no-frills, discount format. (Southeastern Grocers) By Linda Moss CoStar News August 16, 2023 | 8:37 P.M. Fast-growing German discount grocer Aldi is buying the Winn-Dixie and Harveys Supermarket chains, adding roughly 400 stores to its U.S. […]
Commercial Borrowing Declines 42% in First Quarter
Higher Interest Rates, Lower Property Values Keep Lending Tight The Federal Reserve’s latest lending survey indicates tight lending conditions will remain for a while. (iStock) By Mark Heschmeyer CoStar News May 10, 2023 | 1:55 P.M. Commercial and multifamily mortgage loan originations decreased 42% for the first quarter from the fourth quarter, according to the Mortgage […]