Auto dealerships driving property investment, and the retail market gets back in business
May 23, 2014
Here are the news stories you might have missed this week:
CoStar.com: Sellers of auto dealership property in driver’s seat but strong demand may be peaking
Sales of auto dealership lots have increased at double-digit rates since 2009 with investors and car dealers clamoring over available properties. For the first time since 2006, public investors committed more than $1 billion to auto dealership acquisitions, with the value of public dealership acquisitions climbing more than 16% since 2012 — and the buy-sell market is projected to remain active for years to come. Click over to CoStar.com to learn more.
National Real Estate Investor: Retail market is back in business as RECon 2014 wraps up
RECon 2014 wrapped up in Vegas last week and the industry headed home with big expectations for the future of the retail real estate market. But even as tenants are eager to ink new leases and multiple investor classes are looking to buy retail assets nationwide, class-B minus and class-C malls still present major challenges in the marketplace. Visit NREIOnline.com for more info.
Denver Business Journal: New popular business lounge plans to expand to Denver (Video)
A new commercial property type has popped up in Phoenix, and Denver is next in line. Mod is a new business lounge and meeting space concept that’s meant to serve the growing market of mobile professionals and wants to expand locations across the country. Take a look.
Boston Business Journal: Transatlantic expands its footprint in Boston’s red-hot Bulfinch Triangle
Another new project is on the books for Boston’s Bulfinch Triangle after Transatlantic Investment Management signed a $13.5 million deal for a six-story office building in the neighborhood. The region is undergoing a major transformation, with eleven new projects totaling more than 8 million square feet already in the works. Combined, the projects will spark the construction of 4,000 new apartment units, 500,000 square feet of retail space, 2 million square feet for offices, and 1,500 hotel rooms. Continue reading at BizJournals.com.
Author: Raymond T. Cirz