(Credit: Pixabay) London last year remained the top city in the world for investment in commercial real estate, despite concerns about Brexit, according to Frank Knight. As the United Kingdom prepared to exit the European Union, London last year attracted £16.2 billion ($21 billion) of investment in commercial office buildings. That exceeded 2018 commercial office […]
Miami’s antiquated permitting system gets a reboot, but developers remain wary
Miami Riverside Center at 444 Southwest Second Avenue (Credit: Google Maps and iStock) Being a developer can take a good amount of patience, but in Miami that virtue has long been put to the test. Initial approval for a commercial or residential project can take between six months to a year. Physical plans are carried […]
Amazon is launching a new supermarket brand, starting in LA
Jeff Bezos (Credit: Getty Images and iStock) Amazon is planning to launch a new line of grocery stores in several major U.S. cities. The first store is set to open in Los Angeles as early as the end of the year, as the e-commerce giant grows its footprint in the food business, the Wall Street […]
Gap to close half of their locations & split Old Navy into separate company
A closing Gap store (Credit: Getty Images) Old Navy will have to go it alone from now on. Owners Gap Inc are closing 230 of their branded stores, roughly half of all their locations, and splitting Old Navy into a separate publicly traded company. Most of the closures will be in the U.S. “Following a […]
Harvard Heights multifamily trades for $12.6M
1057 South Western Avenue Prana Investments has offloaded a 76-unit apartment complex in Harvard Heights for $12.6 million. The San Francisco-based firm sold 1057 S. Western Avenue to an LLC tied to Texollini, a Carson-based textile company. Texollini secured an $11.3 million acquisition loan for the purchase from Prime Finance Partners. The high loan-to-value ratio […]
Wilshire Rodeo Plaza in Beverly Hills could fetch $350M in bids
Nuveen CEO Mike Sales and 9536 Wilshire Boulevard (Credit: LoopNet) Nuveen Real Estate, hot on the heels of an industrial portfolio purchase, is looking to unload some of its commercial assets. The firm is marketing the Wilshire Rodeo Plaza in the prime Beverly Hills Triangle for sale for $350 million, The Real Deal confirmed. It’s […]