Commercial Real Estate
Top stories summarized by our editors
9/17/2019

Home goods retailer Crate & Barrel will expand its in-store restaurant concept, The Table at Crate, to as many as 15 locations after the first proved popular in Chicago. The concept, created in partnership with Cornerstone Restaurant Group, shows off the retailer's kitchen and dining products, nearly all of which are for sale.

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Fortune
9/17/2019

Martha Stewart will oversee the grand opening of the first Stew Leonard's store in New Jersey this month. The opening marks the grocer's seventh location, with the last store opening on Long Island, N.Y., in August 2017.

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Progressive Grocer
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Stew Leonard, Martha Stewart
9/17/2019

American Campus Communities has been selected to construct new student dorms which will hold at least 2,100 beds for Texas State University. Contract negotiations are ongoing, and Texas State wants the first phase of the project completed for the fall 2021 semester.

9/17/2019

Investor concerns regarding WeWork's corporate governance and overall value have driven its parent company to delay the initial public offering, possibly until October or November. The We Co. was valued at $47 billion in a fundraising round, but recently underwriters and company executives have recognized that it may receive a much lower valuation on public markets.

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WeWork, The We Co.
9/17/2019

Digital Realty will sell 10 powered-shell buildings as part of definitive agreements with affiliates of Singapore-based Mapletree Investments Pte Ltd and Mapletree Industrial Trust. The deal is expected to close in late 2019 or early 2020, and Digital intends to pay down debt with the proceeds.

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Data Center Knowledge
9/17/2019

Weyerhaeuser sold 555,000 acres of Michigan timberlands to Lyme Great Lakes Holding in a $300 million deal. Lyme intends to retain Weyerhaeuser's Michigan employees.

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Weyerhaeuser
9/17/2019

W.P. Carey has completed three sale-leaseback deals for industrial properties for a total of almost $111 million. The portfolio has properties in Tennessee as well as Wisconsin and Ontario, Canada.

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W.P. Carey
9/17/2019

Illinois-based InvenTrust Properties has purchased the 186,068-square-foot Eldorado Marketplace shopping center near Dallas in a $71 million deal. The REIT also paid $52 million for the 56,220-square-foot Travilah Square shopping center in a suburb of Washington, D.C.

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REIT, InvenTrust Properties
9/17/2019

Apartment rental rates rose $2 in August to reach an average of $1,472 across the US, a report by Yardi Matrix found. Las Vegas and Phoenix saw especially strong growth, with rental rates rising about 7%.

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Yardi Matrix
9/17/2019

Hundreds of companies and groups, including Nareit, signed a letter requesting that Congress pass a "clean" extension of the Terrorism Risk Insurance Act. The program "has served as a vital public-private risk sharing mechanism," the letter notes.

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Politico, Reinsurance News
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Congress, NAREIT