Nashville is growing vertical, and why Napa’s industrial warehousing isn’t drying up
Oct 19, 2015
Here are the news stories you might have missed last week:
The New York Times: Nashville’s skyline being reshaped by building boom
Nashville’s finally growing up – after 236 years. Fueled by strong population growth, the Music City is experiencing new vertical development unlike anything it’s seen; 17 big projects are being built downtown, and these new hotels, office buildings, and multifamily towers are already reshaping the Nashville skyline. New parkland, updated development policies, and corporate interest have all done their part in building Nashville up, and the city continues attracting new development and investors. Visit NYTimes.com to catch a glimpse of what’s happening in Nashville.
Institutional Investor: Commercial real estate: Percolating, not about to blow
There is plenty to be excited about in the CRE world: Rents and purchase prices are way up, and cap and vacancy rates are dropping. Bubble? Hardly, some analysts say. The real strength this cycle stems from is technology. Tech-centric cities like San Francisco, Austin, Seattle, and New York have strong metrics, which are funneling down to second-tier cities, as well. A better loan-to-value ratio, low interest rates, and more interest from industrial investors are helping to keep the market strong – a bubble it’s not. Take a 10,000 foot look at the CRE market at InstitutionalInvestor.com.
North Bay Business Journal: Napa Commerce Center first wine warehouse to start construction
If you haven’t heard through the grapevine, here’s the news: Napa Valley continues to expand its warehousing opportunities. As global demand for California wines continues to grow, 400,000 square feet in new warehousing is coming to accommodate storage needs. Napa Valley’s industrial vacancy rate is near rock-bottom – about 2 percent, even as new warehousing comes online. The seven new warehouses in Napa Commerce Center planned by a Sacramento developer will help this tight market. Head over to NorthBayBusinessJournal.com to uncork the whole story.
The Salt Lake Tribune: Get ready, Riverton, a huge mall is headed your way
Though some traditional malls continue to struggle, a new retail hub near Salt Lake City is thriving – and its developer may try to strike gold twice. The proposed Mountain View Place at Riverton is an outpost of retail, restaurants, offices, and hotel rooms that would, if approved, join Station Park as a new-age mall with staying power. But it’s not just a mall, as its office space and hotel would make Mountain View Place a community gathering space that would benefit the region. Read about the plans for Mountain View Place at Riverton at SLTrib.com.