Provided by Commercial Real Estate Direct
Downtown Boston's office market vacancy rate declined 110 basis points to 7% in Q3, while the average rent increased 12.8% to $50.93/sf. According to a report by Cushman & Wakefield, the vacancy rate for class-A space was flat at 6%, while the average rent increased 3% to $66.45/sf. Read Full Story
The Reinvestment Fund, a Philadelphia nonprofit that finances neighborhood revitalization projects, set a record-high lending volume for the year ended July 1. The fund, which primarily finances retail and residential projects, recorded $170 million in loans during the period. Read Full Story
The Dallas-Fort Worth apartment market had seen a surge in leasing activity in Q3, according to M/PF YieldStar. The company found that net apartment leasing totaled about 3,680 units, a stark contrast from the first two quarters of the year when the market saw a net decline in overall occupancy. The increase in rentals during the quarter pushed overall occupancy in the area to 93.2%. Read Full Story
GMAC-Residential Capital, also known as ResCap, is offering for sublease 100,000 sf of office space in the Minneapolis region. The residential lender is seeking tenants for about 40% of its space in the Meridian Crossings office complex in Richfield and 75% of its space at the 8400 Tower in Bloomington, MN. Read Full Story
Behringer Harvard is buying a 245,000 sf office building in downtown Washington, D.C., for $108 million. The Dallas investment manager is acquiring the property, at 840 First St. NE, from Stephen A. Goldberg Corp. Read Full Story
Shorenstein Properties broke ground on a 600,000 sf office tower in downtown Oakland, CA. The San Francisco firm has partnered with MetLife to build the 23-story tower, dubbed Oakland City Center. Read Full Story
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