Sacramento really is the ‘King,’ and the boom happening in one D.C. suburb
Aug 14, 2015
Here are the news stories you might have missed this week:
The New York Times: Dreams of a hip, high-tech Sacramento hinge on Kings’ new home court
Sacramento is entering version 3.0. The city is in the midst of an urban revitalization, and a big part of that is the Kings’ new arena, which is set to open in 2016. But throughout California’s capital, new construction in office, housing, lodging, and retail space has begun, and investors and developers continue to look for new neighborhoods and buildings to revamp. With 10,000 downtown residential units coming online before the first tip off at Golden Center 1, there’s a lot of optimism about the investment future of Sacramento. Read more about Sacramento’s transformation at NYTimes.com.
Tampa Bay Business Journal: Port’s ambitious Channel district real estate plan includes retail, residential and commercial
Goodbye pavement, and hello fun. The Tampa Bay Port just revealed a plan that would transform much of the area along Channelside Drive into new commercial opportunities. The “vision plan” includes residential towers, retail, and commercial space in four main districts, and officials believe this is the future of the port, as cruise traffic will slow down in upcoming years. Though the plan will still need to be reviewed and approved, it’s a bold vision for the area that is already undergoing major changes. Learn about the big plan at BizJournals.com.
Bisnow: Loudoun’s next building boom
Being near Washington, D.C. is good news for investment: Loudoun County, VA, has seen a huge jump — more than $1.3 billion, a leap of 460 percent — in commercial real estate investments in the last year. Developers have added millions of square feet of commercial space, including data centers, office space, industrial buildings, and retail. The area has proven to be very attractive for residents and commuters into the nation’s capital, which has caused this flood of investment money and new construction and renovations. To see what’s happening in Loudoun, visit Bisnow.com.
CoStar: Construction not keeping up with demand in light industrial market
Bigger is always better, but what is the hot emerging U.S. market? Light industrial. These properties — between 100,000 and 300,000 square feet — are seeing the highest year-over-year rent growth of any property type, and doing it in some of the largest, most constrained markets. Though many investors and developers are looking for huge industrial buildings, the light industrial market has seen little new construction, which is causing rents to increase. Of course, investors and developers are taking notice, and are testing the waters for new construction. Go to CoStar.com to read the full report.