GPARENCY News: Your hub for commercial real estate updates. Stay informed with curated headlines, and summaries crafted by ChatGPT. Stay ahead of the industry.
$100M Georgetown investment part of Texas’ small-town transformation
about 4 hours ago
Dallas-based Columnar Investments is proposing a $100 million mixed-use project called Heirloom in Georgetown, Texas, aiming to create a second Main Street for the quickly growing city.
Hines and Pacific Fusion are teaming up to build a $1 billion research and development campus in the East Bay, considering locations in Alameda Point and Livermore.
Q&A: Cook County Assessor Fritz Kaegi talks property tax reforms, improving investor confidence
about 4 hours ago
Property owners in Chicago are feeling sticker shock from property taxes, causing uncertainty and prompting calls for reforms from commercial property owners, homeowners, and real estate investors alike.
Lenders’ credit bid of $61 per sf reveals bottom of office market
about 4 hours ago
A distressed Uptown Charlotte office tower at 400 South Tryon Street was auctioned for $36 million, significantly lower than its assessed value and purchase price.
Criminal probe for home builder who “dropped off face of the earth”
about 5 hours ago
Denver-area home builder Carl Dean Amann of Adamo Homes and Adamo Building Company is facing a criminal investigation, bankruptcy, and multiple lawsuits from buyers alleging scams, financial losses, overcharging, fake invoices, project abandonment, and substantial debts owed to subcontractors and landlords.
Caruso’s counterintuitive move in burn zone: Rooftops follow retail
about 5 hours ago
Los Angeles developer Caruso plans to reopen Pacific Palisades Village retail center before homes destroyed in recent wildfire are rebuilt to foster a sense of community and spur rebuilding efforts.
Food Market Leases 3K SF at Domain’s New Bronx Residential Development
about 5 hours ago
Local grocery store Food Market, owned by Abdullah Ahmed, will be joining The Domain Companies’ new Bronx residential development this summer, signing a 15-year lease for retail space at Estela in Mott Haven.
High-end home sales grew YoY in Westchester, Greenwich Counties
about 6 hours ago
Luxury home sales in Westchester County increased significantly in the first quarter of 2025, with the highest year-over-year growth compared to nearby markets, although the median sale price and average price per square foot decreased.
Measure ULA suppresses sales, costs LA $25M in tax revenue
about 6 hours ago
The UCLA study found that Los Angeles' Measure ULA, also known as the "Mansion Tax," resulted in a 50 percent decrease in investment sales and a $25 million annual loss in property tax revenue, prompting discussions about reform among lawmakers.
Office-to-classroom: School district pays $38M for suburban asset
about 6 hours ago
LegalZoom sold its office building in Northwest Austin for nearly 80% more than what they paid for it in 2013 to Round Rock ISD who plans to convert it into a career and technical education center.
Miami Design Preservation League’s longtime director Daniel Ciraldo steps down
about 6 hours ago
Daniel Ciraldo resigned as executive director of the Miami Design Preservation League amid concerns of potential conflicts of interest related to donations from developers, stating his resignation is not connected to these concerns as he shifts his focus to infrastructure.
From “Big Boy” to bust: Rosania hits more distress in Bay Area multifamily market
about 6 hours ago
Maximus Realty Partners faces financial distress after defaulting on $210 million loan for Cove at Tiburon, following earlier default on $1.5 billion loan for Parkmerced complex.
Vlad Doronin’s OKO and Cain propose three-building Palm Beach condo complex
about 6 hours ago
OKO Group and Cain International propose a new three-building condo complex in Palm Beach, the first such proposal in nearly 20 years, involving the demolition and replacement of existing buildings due to rising insurance costs and safety regulations.
Downtown office vacancy spirals for 11th straight quarter
about 6 hours ago
Downtown Chicago's office vacancy rate hit a record high of 26.5% in the first quarter, marking the 11th consecutive quarter of high availability, with a slowing pace of tenant shrinkage and positive net absorption.
Financial Planner Iron Birch Advisors Takes 8K SF at 777 Third Avenue
about 6 hours ago
Iron Birch Advisors, a private wealth advisory practice, will be moving one block north in Midtown East to a new office space on the 20th floor of Sage’s 777 Third Avenue.
How Hollywood’s “emergency” has chilled LA’s resi business
about 6 hours ago
Changes in Hollywood's business dynamics, including layoffs and shifting models, are affecting the Los Angeles real estate market, with fewer deals among entertainment workers impacting residential areas like Burbank and Studio City.
City unveils new affordable housing site aimed at shelter population
about 6 hours ago
New York City's Affordable Housing Service program connects shelter residents with housing through rental assistance vouchers, with over 450 units delivered and 500 more in the pipeline.
Russell Galbut Reveals Mixed-Use Redo For Old Miami Courthouse
about 7 hours ago
GFO Investments plans to redevelop the Historic Miami-Dade County Courthouse into a mixed-use facility, including housing, hospitality, office, and retail uses.
Department of Housing Seeks to Relocate D.C. Headquarters
about 7 hours ago
HUD is considering relocating its headquarters within the D.C. metropolitan area or to cities outside the nation's capital region, following threats of workforce downsizing by Elon Musk's Department of Government Efficiency.
L.A.’s ‘Mansion Tax’ Drives up to 50% Drop in Commercial Sales: UCLA
about 7 hours ago
Los Angeles' "mansion tax" has generated lower revenue than expected due to a significant decline in sales volume in the city, leading to potential implications for housing development and property tax revenue.
Downtown stadium hype fades as Bears revisit Arlington Heights
about 7 hours ago
The Chicago Bears are leaning towards Arlington Heights as the location for a new stadium, citing topography, transit access, and development potential as factors influencing the decision.
Adams’s Shift to Independent Creates Real Estate Conundrum: Who to Back?
about 7 hours ago
Mayor Eric Adams, now free of corruption charges, will run for re-election as an independent, potentially facing off against Andrew Cuomo in a complex race with implications for the real estate industry.
North Beach landlord rushes redevelopment plan to beat historic designation
about 8 hours ago
A North Beach property owner rushes to redevelop a fire-damaged building before it receives a historic designation, facing opposition over plans to demolish the facade for a denser project with more units.
30 Rock developer tees up $52M industrial play in hot submarket
about 8 hours ago
Rockefeller Group Development Corporation plans to build a $52 million industrial complex in Irving, Texas, marking their first project in the Dallas-Fort Worth area.
Developer Andres Isaias buys North Bay Road teardown for $17M, plans $65M spec mansion
about 8 hours ago
Developer Andres Isaias purchased a waterfront property on North Bay Road for $17 million in order to build a $60-$65 million spec mansion, joining a trend of high-end real estate activity in the area.
New Santa Monica Place management wants to bring “great brands” back
about 8 hours ago
Prism Places has been chosen to manage Santa Monica Place in an effort to revitalize the struggling mall due to challenges such as tenant departures and a defaulted loan by Macerich.
Philadelphia punts this year’s property reassessments
about 9 hours ago
Philadelphia will not conduct property reassessments this year, maintaining the previous year's values due to a high volume of appeals, potentially saving property owners money but impacting the city's revenue and Mayor Parker's budget plans.
BXP’s 200 Fifth Avenue lands law firm tenant for 250k sf
about 9 hours ago
Law firm Goodwin Procter signs a 20-year lease for 250,000 square feet at 200 Fifth Avenue in the Flatiron District, with options to expand, as part of a deal brokered by Cushman & Wakefield.
Metro Loft Faces Potential Foreclosure at 180 Water Street Over $265M Loan
about 9 hours ago
Nathan Berman's Metro Loft Management faces pre-foreclosure at Manhattan office conversion project after defaulting on $265 million loan, but plans to provide financing to settle debts.
Metro Loft hit with pre-foreclosure complaint at 180 Water Street
about 9 hours ago
Metro Loft Management, led by Nathan Berman, faces a pre-foreclosure complaint at the 180 Water Street conversion due to an alleged default on a $265 million senior loan, signaling financial struggles with multiple loans.
Himmel + Meringoff Recaps 525 West 57th Street With $93M Loan from Delaware Life
about 10 hours ago
Himmel + Meringoff Properties completes a major recapitalization of their mixed-use building at 525 West 57th Street, securing funding for medical space construction and future leasing amidst market volatility.
The penthouse at 111 West 57th Street listed for $110 million, offering 11,500 square feet across four floors with luxurious amenities and a unique appeal to a select group of potential buyers.
East Bay vineyard with baseball field to hit auction block with no reserve
about 11 hours ago
An East Bay vineyard property with baseball field and event center is being auctioned as the current owners retire, having turned the property into a successful community hub over nine years despite no prior winemaking experience.
Miami's two-bedroom apartment rents dropped 7.7% year-over-year to $3,350 in March, contributing to an overall 2.2% decrease in South Florida rents due to increased supply and a slowdown in in-migration.
Malouf Interest land buy to bring groceries to Collin County town
about 12 hours ago
Malouf Interests plans to build a grocery-anchored shopping center and restaurants on a 42-acre parcel in Lucas, Collin County, part of the fast-growing community northeast of Dallas.
In the last week of March, Broward County saw an increase in condo sales and dollar volume, with the top sale at Apogee Beach in Hollywood closing for $2.8 million.
The Daily Dirt: More real estate cash pours in for Cuomo
about 15 hours ago
Real estate executives, including those from the Durst Organization, donated to a super PAC tied to former Gov. Andrew Cuomo following a meeting where Cuomo expressed regret about aspects of the 2019 rent law.
The Plan: Park 53 Office Space Goes From Drab to Fab
about 17 hours ago
Park 53's revamped lobby and new amenity space offer a modern and luxurious experience for tenants in the premier office property at 45 East 53rd Street in New York City.
Carmel Partners ups ambition for apartment tower on La Cienega
1 day ago
Carmel Partners in Los Angeles plans to build a 43-story apartment tower with 532 units, including 64 affordable units, replacing previously approved 24-story plans and triggering a scandal involving former Council member José Huizar.
Los Angeles Office Market ‘Has Bottomed,’ Gravitates Farther West
1 day ago
Los Angeles' office real estate market has hit bottom post-pandemic but is expected to remain stagnant for the near future, with slow recovery predicted in response to elevated leasing activity and shifting tenant demand.
Costco takes Crosland Southeast development to next level
1 day ago
Crosland Southeast's Exchange at Indian Land project near Charlotte includes 400 apartments, 320 townhomes, and anchor tenants Lowes Foods and Costco, with construction set to begin soon.
Skims-Anchored Office in Hollywood Sells for $105M
1 day ago
Kingsbarn Realty Capital acquires Hollywood office building housing Skims headquarters at a lower price than initially agreed upon, in a deal brokered by Newmark.
Universal Property settles claims of insurance fraud, will pay state $6.5M
1 day ago
Universal Property & Casualty Insurance Company settled a civil suit and will not receive over $30 million in allegedly fraudulent insurance claims related to Hurricane Irma, paying fines and legal fees totaling $6.5 million.
Illinois home insurance costs skyrocket to second-highest in US
1 day ago
Illinois home insurance premiums have surged by 50% from 2021 to 2024, the second-largest increase in the U.S., driven by rising costs for building materials and labor.
Washington Ho’s firm expands to Austin amid hot luxury market
1 day ago
White House Global Properties, a Houston-based real estate brokerage founded by Washington Ho, is expanding to Austin and plans to hire 30 to 50 agents in the next few years.
Los Gatos files lawsuit to clarify state housing law and resolve issues with builder's remedy applications in order to efficiently approve much-needed housing.