Zara owner Amancio Ortega has amassed real estate holdings valued at $17.2 billion, including investing more than $3 billion in U.S. assets.
TAMPA, Fla., July 6, 2020 /PRNewswire/ -- Lingerfelt CommonWealth Partners, LLC (LCP), a Richmond, Virginia-based commercial real estate investment firm, today announced the sale of Buschwood III to Continental Capital Partners, a real estate investment company based in Virginia Beach, Virginia, for $10.35 million. Buschwood III, a two-story, 78,000 square-foot, Class A office building in Tampa, Florida, was 92% leased to a variety tenants including CoAdvantage, BluePearl Veterinary Services, and the GSA as of disposition. Buschwood III was 86% leased when LCP purchased the property in February 2018 for $8.9 million.
The project, dubbed the Empire Station Complex, could take 16 years to complete. : (Bloomberg) -- A New York state plan to redevelop the neighborhood surrounding Penn Station would clear the way for more than 14 million square feet of new offices, a massive addition of space that would accelerate the shift of Manhattan's core toward the West side. The project would use new construction on eight sites to fund improvements to the existing Penn Station and create underground tracks and platforms to the south of the transit hub, according to a draft proposal posted online.
Ccp Commercial Real Estate Expands Their Total Office Portfolio In Tampa, Fl To 737,000 Sf As Of June 2020
VIRGINIA BEACH, Va., July 1, 2020 /PRNewswire/ -- Commercial real estate investment company CCP Commercial Real Estate just announced a new office property acquisition bringing their total investments in the Tampa area to $119,200,000 over the last twenty-four months. CCP acquired Buschwood III, a 78,500 SF, multi-tenant, suburban office building in late June through an off-market transaction. "We are very pleased with our continued expansion into the Full story available on Benzinga.com.
EXAN Group acquired the pair of properties in San Jose, Calif., which are leased to Raytheon. : Office transactions largely ground to a halt after California's stay-at-home order went into effect in March, but the lockdown didn't stop a Miami-based real estate fund manager from scooping up a pair of Raytheon-leased buildings within a Silicon Valley office and R&D complex for $95.2 million.
Getting the office ready for workers goes way beyond deep cleaning and increasing distance between workstations. : Editor's note: Last week, we detailed how real estate services firm JLL was reopening its own offices. Here we offer an even more in-depth look into best practices. As many employers invite or require their workers to return to the office, following safety guidelines is crucial to employees' physical well-being and peace of mind.
SACRAMENTO, Calif., June 29, 2020 /PRNewswire-PRWeb/ -- Merlot Marketing has been named agency of record for privately-held real estate investment firm GPR Ventures and will lead public relations efforts in support of the firm's ventures and projects in the Greater Sacramento Region. Established in 2011 in the Silicon Valley, GPR Ventures has since expanded into Sacramento and provides commercial real estate opportunities for a select group of investors, including property acquisitions and capital improvement projects. To date, GPR Ventures' portfolio includes 59 industrial and office buildings, totaling over 1.8 million square feet, and an additional 26 acres of land.
If commercial real estate is one of the only distressed opportunities available, investors can't afford to be too picky. : (Bloomberg Opinion) --It's hard to think of a less sympathetic group during the coronavirus pandemic than hedge funds and other firms that buy distressed assets and companies. They're colloquially referred to as "predators" or "vultures" for a reason, after all. These investors step in when the outlook appears bleakest -- and they have all the power -- to lock in potentially huge returns in exchange for a cash infusion.
UPDATED, June 24, 6:20 p.m.: L&L Holding Company is expanding outside of Manhattan for the first time, partnering with Carpe Real Estate Partners in Miami to build a mixed-use project in Wynwood. The two firms are under contract to buy a 3-acre assemblage anchored by the former Rubell Family Collection property on Northwest 29th Street and First Avenue, according to Erik Rutter and David Weitz, co-founders of Carpe Real Estate. The joint venture plans to ... [more] The post Luxury office, resi project planned for former Rubell museum in Wynwood appeared first on The Real Deal Miami.
Offices tenants are considering renting less space as more employees work from home and the trend toward online shopping is accelerating.