Landlords brace for fallout from government shutdown that could slow real estate activity
The federal government shutdown now underway could disrupt plans for the federal real estate portfolio and put office landlords at risk of rent payment delays if a resolution isn’t reached in coming weeks. Shutdowns can eventually slow federal contracting, leasing and the disposition of government properties, analysts said, though building owners with federal tenants are expected to keep receiving rent for now. At least two real estate investment trusts warned this year that an elongated shutdown could adversely…»
Dollar Tree buys Lincoln Park303 building for $147 million
Full-service commercial real estate firm Lincoln Property Company (Lincoln) today announced the sale of a 1.25 million-square-foot, Class A industrial building within its award-winning Park303 logistics park to Dollar Tree, Inc. (NASDAQ: DLTR), one of North America’s largest value retailers. The building sold for $147,066,005, according to public records. Park303 totals 210-acres and 3.75 million square feet of industrial space along the Loop 303 at Glendale Avenue in Glendale, Arizona. Built in two phases, it includes a…»
Here’s a look inside the $850 million plan for The Metropolitan
Developer Concord Wilshire Capital announced that it has completed demolition of the former Metrocenter Mall and Oakwood Homes has been named the exclusive residential builder for The Metropolitan, an $850-million, vibrant, mixed-use destination project. The 64-acre development is set to transform the former site of the Metrocenter Mall into a walkable urban village seamlessly integrating Light Rail with housing, entertainment, dining, and retail. “We are pleased to announce that we have selected Oakwood Homes, a division of…»
Retail Real Estate Finds Strength in Off-Price Stores Amid Wave of Closures
Retail real estate is experiencing a paradox. Even as some of the country’s best-known chains shutter stores or vanish entirely, other retailers — particularly those targeting value-conscious shoppers — are thriving, creating both turbulence and opportunity for investors. Chains such as Joanne, Big Lots, Party City, Advance Auto Parts, Walgreens, and Lumber Liquidators have either closed large numbers of locations or gone out of business, leaving behind swaths of vacant space. Yet the overall retail market has remained…»
Glendale’s VAI Resort adds more elements to sprawling project, while opening delayed
VAI Resort, the long-awaited massive hospitality project under construction in Glendale, is approaching several construction milestones, even as the complex development is still months – or even a year – away from opening. Even as construction continues at the multifaceted resort, VAI’s development team continues to add new elements to the project. When completed, VAI is expected to have 1,100 rooms across multiple towers, 11 restaurants, an 11,000-seat amphitheater, large pool area, conference center and the Mattel…»