Real Estate

I cut my legal drama teeth binging syndicated episodes of the original “Perry Mason.” My tween self was in awe of the 1957 series’ handsome leading man and his sharp and stylized courtroom dealings, which led to a lifelong obsession with mysteries and all things crime-related. So when I heard HBO was revamping the beloved

Young professionals are driving change in the commercial real estate industry. For years, new technologies—from virtual rent collection to digital document signing—have promised to deliver efficiencies to the market, but adoption has been another story. The industry has an older average age demographic than most other industries. According to NAR, for example, brokers have a

As people flee the cities, single-family rental builders are making moves to capitalize on that potential demand. As one example, Huntsville, Ala.-based Davidson Holding Co., launched EverGreen Living. The single-family rental community construction and management venture will build single-family rental communities in the Southeastern markets, including Atlanta, Huntsville, Nashville and Raleigh.  Perhaps more significantly, Blackstone

Chandler Bing now has a new home — but it’s far from his cozy New York City apartment and he won’t live there with Monica Geller or Joey Tribbiani. Capping off a 2020 full of real-estate moves, “Friends” star Matthew Perry, 51, has just nabbed a roughly 3,000-square-foot cottage in Los Angeles for $6 million,

SAN FRANCISCO—Pinterest Inc. has terminated its office lease for approximately 490,000 square feet to be constructed at 88 Bluxome St. near its current headquarters campus. Instead, the company plans to continue leasing its current downtown buildings in order to support a more diverse and geographically distributed workforce. “As we analyze how our workplace will change

Earlier this year, prolific TV producer Doug Robinson (“The Goldbergs,” “Rules of Engagement”) inked another major deal to extend his stay with Sony Pictures Television — his professional home base since 2002 — for five more years. Already the longest-tenured producer at the studio, the contract will reportedly include a new comedy project with Grammy-winner

MILLTOWN, MT—Stan Johnson Co. is marketing a movie studio site, where future episodes of the show “Yellowstone” will be filmed. The site includes more than 100 acres of developable land. Jimmy Ullrich and Michael J. Macchia of Stan Johnson Co., together with Mark Twite of Twite Realty Corp/, are listing the property for $11.6 million.

With storm season upon us, CRE owners and facility managers may find themselves acutely aware of the state of their roofs. Hopefully, you have a comprehensive Roof Management Plan in place to protect the most expensive system in your commercial building and reduce the likelihood of leaks. Even so, a bit of understanding and preparation

As restaurateurs sweat out Mayor Bill de Blasio’s stubborn resistance to indoor service, owners of places with alfresco seats are coping with unaccustomed challenges — from pop-up thunderstorms to out-of-control vehicles crashing into dining areas. And, in a highly competitive environment, they’re also coping with malicious rumors possibly spread by competitors. The tale has been

If you need any further proof that Berkshire Hathaway CEO Warren Buffett is the wisest man in America, click on this link, to see his move deeper into the net lease space. Proclaiming net lease investments as “the new gold standard for income oriented investors,” the Forbes article reports that Berkshire Hathaway has “doubled-down” on

Though he hoisted his longtime Malibu haunt onto the market with a $15 million ask only last week, Matthew Perry has already significantly downsized his Los Angeles real estate circumstances. Records reveal he’s shelled out an even-steven $6 million for a contemporary home perched atop a hill in Westside L.A.’s perennially pricey Pacific Palisades neighborhood. Clocking

Dollar stores had strong second-quarter sales as cap rates fell, according to the 2020 Net Lease Dollar Store Report from The Boulder Group. Part of their success stems from the niche they carved out in small-town and rural America. “The dollar stores have positioned themselves in small-town America as the local general store,” says Randy

MADISON, NJ—On behalf of its US core real estate strategy, PGIM Real Estate has acquired a 4.7 million-square-foot, 15-building industrial portfolio valued at $425 million. The seller was Crow Holdings. Want to continue reading?Become a Free ALM Digital Reader. Once you are an ALM digital member, you’ll receive: Unlimited access to GlobeSt and other free

How Will Hudson Yards Survive the Pandemic? So asked a recent New York Times headline. It will survive by being great. But don’t count on any favors from the babbling intelligentsia that hates everything about it, from the platform it stands on to the air its mighty skyscrapers breathe. Sniping at Hudson Yards might have

PWS Laundry has launched a major expansion with plans to open 30 to 50 new locations nationwide. Despite the pandemic and economic dislocation, laundromats provide strong returns and fundamentals. They are also a good opportunity for retail owners looking to secure stable and flexible tenants. Want to continue reading?Become a Free ALM Digital Reader. Once

After a few on-and-off-again years with cable sports juggernaut ESPN, popular sportscaster Michelle Beadle had her contract bought out late in the summer of 2019, and quietly exited the company. Now, it looks like the NBA Countdown host is also waving goodbye to another significant aspect of her life — she has listed her luxe

A survey from the real estate investing website Millionacres says women were more likely than men to list rental property as their main real estate investing method. The survey was distributed to more than 650 newsletter subscribers earlier this month.  Millionacres outlined the results of the survey in a post last week. Women and men

Rental units accounted for 96% of multifamily construction starts during the second quarter, further taking market share from condos, according to a new report. The National Association of Home Builders analyzed quarterly data from the Census Bureau, which noted 76,000 rental multifamily starts and 3,000 condo starts. “Condo construction has been weak since the end

How’s this for a million-dollar baby? Nathan Romano, the co-founder of Onia swimwear, worn by celebrities like Eva Longoria and Chrissy Teigen — has listed his Greenwich Village home for $999,000, slightly less than its 2016 purchase price. The charming one-bedroom, one-bathroom duplex at 67 E. 11th St. has clean lines and vintage touches that

Millions of Americans are still reeling from the effects of COVID-19 and rely on unemployment insurance (UI) to meet essential expenses. Too often, though, these monthly payments fall short of a person’s basic needs. According to a new report from Real Estate Witch, UI fails to cover minimal rent, food, and transportation costs in 75 of

According to an always-in-the-know snitch, Justin Kirk has changed up his living situation with the recent, slightly-shy-of-$1.8-million purchase of a multi-level contemporary perched on a vertiginous hillside high in the Hollywood Hills. The accomplished 51-year-old actor, who got his showbiz start on the stage in New York City, where he earned a prestigious ensemble Obie

A decline in customer transactions at restaurants hit single digits for the first time in months after the COVID-19 pandemic wreaked havoc on the economy. Want to continue reading?Become a Free ALM Digital Reader. Once you are an ALM digital member, you’ll receive: Unlimited access to GlobeSt and other free ALM publications Access to 15

Even with the array of problems that the WeWork troubles and the COVID-19 pandemic presented, Jennifer Frisk, senior managing director with Newmark Knight Frank’s downtown Los Angeles office, thinks coworking will catch on as an asset class. Need proof? The big institutional owners are starting to get on board. “I think going forward traditional landlords

Could this mansion be any more perfect? Actor Matthew Perry has put his Malibu, Calif., beach house on the market for $14.95 million. The four-bedroom oceanfront property is where the “Friends” star has sheltered in place during the coronavirus, cracking jokes about the beachgoers below. “This is the scene from my patio,” Perry captioned a

NEW YORK CITY—A syndicate of investors led by Blackstone Real Estate Income Trust is making a $300 million preferred equity investment in Toronto-based Tricon Residential, with BREIT acquiring $240 million of the preferred equity.  “We are pleased to make this preferred equity investment in Tricon,” Frank Cohen, chairman and CEO of BREIT, said in prepared

After barely a month on the market, the fastidiously restored and carefully updated John Kelsey House in Pasadena has sold for its full asking price of nearly $4 million, offering further evidence of not only the desirability of mid-century modern gems but also the remarkable resilience of the real estate industry, which continues to keep

Seaward: “The vitality of the office market over the next year has more to do with the trajectory of the pandemic than it does with a shift in the way that people view and utilize office space.” The office sector could be excused for feeling overly confident as the longest economic expansion in US history

Two companies, both major players in their respective industries, in recent days have indicated that they are shifting their workforce policies to emphasize working from home.  JPMorgan Chase is one of these companies. Its employees will be working remotely part time, cycling between their homes and the office, Daniel Pinto, the bank’s co-president, told CNBC. 

When the coronavirus hit, ballet dancers had to take their twirling home. Zoom conferences replaced in-person rehearsals and cramped living rooms stood in for spacious studios — not to mention the emotional and financial blows of canceled performances and unemployment. But performers are a resilient bunch: They got creative about staying in tip-top shape and

A recent case involving a Disney Yacht and Beach Club Resort in Orange County, Florida demonstrates how significantly tax liability can differ when an assessor fails to exclude intangible assets. For Disney’s property, the tax assessor’s and Disney’s valuation of the property differed by a whopping $127.8 billion. Real estate taxes are ad valorem, or