News

September 4, 2018

For Amazon HQ2 Finalist Cities, The Day After Looms

The Lotus Riverfront at 450 Broad St. in Newark, New Jersey, is one of the sites offered as a possible home for Amazon’s HQ2. After Amazon gave his county a painful snub in January, David Iannucci is stuck exactly where 19 communities may find themsel…

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August 30, 2018

Micron to Expand Manassas Manufacturing Plant with $3 Billion Capital Investment

Micron’s 576,000-square-foot plant located 40 miles outside Washington, D.C., in Manassas, Virginia. Micron Technology pledged to make one of the largest manufacturing investments in the history of Virginia with a $3 billion capital investment to ex…

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August 30, 2018

Harbor Group International Wraps Up Largest D.C.-Area Apartment Deal This Year

For two weeks, the sale of the Ballston Place apartment complex in Arlington, Virginia, stood as the largest multifamily transaction in the Washington, D.C., market in 2018. Its short-lived reign just ended. Harbor Group International, a real estate…

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August 29, 2018

Lanham Fundamentals Behind Quantum Equities’ $84 Million Multifamily Purchase

A New York-based real estate developer has acquired a 486-unit apartment complex in Lanham, Maryland, for nearly $84 million, citing the area’s promising market fundamentals aided by major employment drivers the University of Maryland and downtown Wash…

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August 28, 2018

Inspector General: Trump Administration May Have Misled Congress on FBI Headquarters Rebuilding Cost

The J. Edgar Hoover Building in Washington, D.C. The Trump Administration may have misled Congress about the full cost of rebuilding and potentially relocating the FBI headquarters that’s now located near the Trump International Hotel in Washington,…

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August 28, 2018

Cushman & Wakefield Recruits Two Automotive Advisory Experts to Capital Markets Team

James Mitchell (left) and Erin Rice join Cushman & Wakefield’s automotive advisory group.Cushman & Wakefield has hired a pair of retail automotive industry veterans to its capital markets platform as the company looks to expand its automotive real esta…

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August 28, 2018

Edge Commercial to Grow Capital Markets Practice, Expand Advisory Platform with New D.C. Office

Joe Friedman, partner and regional director, will lead Edge’s investment sales platform in Washington, D.C. Regional commercial real estate firm Edge Commercial Real Estate is opening a new office in Washington, D.C., as the company looks to grow its …

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August 27, 2018

REIT’s Investment Strategy Shows Promise as It Closes Five New Ground Leases for More Than $100 Million

One of Safety, Income & Growth’s recent ground lease investments involved the ground underneath The Madison office complex in Phoenix. A real estate investment trust called Safety, Income & Growth Inc. over the past month has closed on five new grou…

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August 27, 2018

Integrated Capital Affiliate Secures $16 Million Senior Loan to Refinance Silver Spring Sheraton Hotel

An affiliate of Los Angeles-based hotel real estate advisory and investment firm Integrated Capital secured a $16 million short-term senior loan for the refinancing of the Sheraton Silver Spring Hotel in Silver Spring, Maryland. The 229-room, 16-f…

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August 27, 2018

Bank Commercial Property Loan Distress Recedes as Lending Climbs

The banking industry is strengthening but must position itself to be resilient through economic cycles, according to Jelena McWilliams, chairwoman of the Federal Deposit Insurance Corp.Image source: FDIC Despite talk of peaking property prices and d…

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