Simply Commercial Real Estate

Boston’s Commercial Property Tax Hike Sparks Concerns, Ethan Conrad Revitalizes Merced Mall

Boston's bid to hike commercial property tax couldn't come at a worse time, raising concerns about the city's economy. Meanwhile, real estate investor Ethan Conrad purchases and rebrands Merced Mall, bringing new development and revitalization to the area. Stay informed about the potential impact of tax hikes on businesses and the exciting transformation of Merced Mall.Sources:https://www.bostonglobe.com/2024/06/12/opinion/letters-to-the-editor-boston-commercial-property-tax/https://www.bostonglobe.com/2024/06/12/opinion/letters-to-the-editor-boston-commercial-property-tax/https://www.bostonglobe.com/2024/06/12/opinion/letters-to-the-editor-boston-commercial-property-tax/https://www.bizjournals.com/sacramento/news/2024/06/11/merced-marketplace-mall-ethan-conrad.htmlOutline:(00:00:00) Introduction(00:00:35) Boston’s bid to hike commercial property tax couldn’t come at a worse time(00:02:54) Boston’s bid to hike commercial property tax couldn’t come at a worse time(00:03:51) Boston’s bid to hike commercial property tax couldn’t come at a worse time(00:06:23) Ethan Conrad buys, rebrands mall in Merced as 'Marketplace'

NYC Office Building Sold at Steep Discount, Seattle’s Pioneer Square Transformation, Battery Manufacturer Sues Real Estate Company

A prime NYC office building sells at a significant discount, shedding light on challenges in the commercial real estate market. Seattle's Pioneer Square undergoes a major transformation as office spaces are converted into residential units. A battery manufacturer's investment in Colleton County takes a legal turn as they sue a real estate company. Plus, an opinion piece explores the growing crisis in commercial real estate and potential solutions.Sources:https://fortune.com/2024/06/10/commercial-real-estate-crash-new-york-city-office-building-discount-short-sale/https://www.bizjournals.com/seattle/news/2024/06/10/develop-sees-big-office-residential-pioneer-square.htmlhttps://www.counton2.com/news/battery-manufacturer-investing-279-mil-in-colleton-county-sues-commercial-real-estate-company/https://www.theglobeandmail.com/business/commentary/article-commercial-real-estate-is-in-a-growing-crisis-that-seems-to-have-no/Outline:(00:00:00) Introduction(00:00:44) A NYC office building will sell at such a discount that it's 67% less than the purchase price and below what's still owed on the mortgage(00:04:12) Seattle developer sees huge office-to-housing opportunity in Pioneer Square(00:05:23) Battery manufacturer investing $279 mil in Colleton County sues commercial real estate company(00:08:56) Opinion: Commercial real estate is in a growing crisis that seems to have no end

Chicago’s One Chicago Towers Secures $415M Refi, Massachusetts Launches Geothermal Pilot

JDL Development and Wanxiang America Real Estate secure a $415 million refinancing for One Chicago towers. Massachusetts launches its first networked geothermal system pilot project. This episode explores the latest developments in commercial real estate, from major refinancing deals to innovative renewable energy initiatives. Stay informed about the changing landscape of the industry and the potential impact on investors, developers, and the environment.Sources:https://therealdeal.com/chicago/2024/06/07/jdl-wanxiang-score-415m-refi-for-one-chicago-towers/https://www.arkansasbusiness.com/article/nlr-retail-property-tops-3-7m-mark-real-deals/https://www.bowditch.com/bowditchrealestateblog/2024/06/07/massachusetts-first-networked-geothermal-system-pilot-launches/https://www.arkansasbusiness.com/article/nlr-retail-property-tops-3-7m-mark-real-deals/Outline:(00:00:00) Introduction(00:00:41) JDL, Wanxiang Score $415M Refi for One Chicago Towers(00:05:03) NLR Retail Property Tops $3.7M Mark (Real Deals)(00:05:31) Massachusetts’ First Networked Geothermal System Pilot Launches - Commercial Real Estate Insight & News(00:07:43) NLR Retail Property Tops $3.7M Mark (Real Deals)

Major Refinancing Deal for One Chicago Towers, Bowie Office Building Sold for $6.15M

JDL Development and Wanxiang America Real Estate secure a $415 million refinancing for One Chicago towers. MacKenzie Commercial Real Estate Services brokers the $6.15 million sale of a Bowie office building. Plus, 5 tips for Indian investors buying foreign real estate and Massachusetts' first networked geothermal system pilot launches.Sources:https://therealdeal.com/chicago/2024/06/07/jdl-wanxiang-score-415m-refi-for-one-chicago-towers/https://thedailyrecord.com/2024/06/07/mackenzie-commercial-real-estate-services-brokers-6-15m-sale-of-bowie-office-building/https://www.financialexpress.com/business/investing-abroad-global-commercial-real-estate-5-tips-for-indian-investors-to-succeed-in-the-world-of-global-commercial-real-estate-3518116/https://www.bowditch.com/bowditchrealestateblog/2024/06/07/massachusetts-first-networked-geothermal-system-pilot-launches/Outline:(00:00:00) Introduction(00:00:43) JDL, Wanxiang Score $415M Refi for One Chicago Towers(00:03:21) MacKenzie Commercial Real Estate Services brokers $6.15M sale of Bowie office building(00:06:14) 5 tips for Indian investors buying foreign real estate(00:10:05) Massachusetts’ First Networked Geothermal System Pilot Launches - Commercial Real Estate Insight & News

Chicago’s One Chicago Towers Secures $415M Refi, Massachusetts Launches Geothermal Pilot

JDL Development and Wanxiang America Real Estate secure a $415 million refinancing for One Chicago towers. Massachusetts launches its first networked geothermal system pilot project. Plus, SeaFlower brings a massive retail, residential, and commercial development to Bradenton, and Moody's considers downgrading 6 U.S. banks over CRE exposure.Sources:https://therealdeal.com/chicago/2024/06/07/jdl-wanxiang-score-415m-refi-for-one-chicago-towers/https://www.bowditch.com/bowditchrealestateblog/2024/06/07/massachusetts-first-networked-geothermal-system-pilot-launches/https://www.sarasotamagazine.com/home-and-real-estate/2024/06/bradenton-seaflower-new-developmenthttps://www.bisnow.com/national/news/commercial-real-estate/moodys-may-downgrade-6-us-banks-ratings-over-cre-exposure-124604Outline:(00:00:00) Introduction(00:00:43) JDL, Wanxiang Score $415M Refi for One Chicago Towers(00:04:22) Massachusetts’ First Networked Geothermal System Pilot Launches - Commercial Real Estate Insight & News(00:07:04) SeaFlower, a Massive Retail, Residential and Commercial Development, Is Headed to Bradenton(00:10:34) Moody's Could Downgrade 6 U.S. Banks Over CRE Exposure

Moody’s Warns of Potential Downgrades for US Banks, Impact of Unionization on Commercial Real Estate

Moody's may cut six US banks on commercial real estate exposure. The rise of unions is impacting the commercial real estate industry. Plus, Transwestern brings a $41M industrial project to Lewisville, and Jeffrey Zwick advises on a $147M NYC portfolio refinancing.Sources:https://www.bnnbloomberg.ca/moody-s-may-cut-six-us-banks-on-commercial-real-estate-exposure-1.2082257https://propmodo.com/how-the-rise-of-unions-is-impacting-commercial-real-estate/https://therealdeal.com/texas/dallas/2024/06/06/transwestern-brings-41m-industrial-project-to-lewisville/https://www.law360.com/real-estate-authority/articles/1845125/jeffrey-zwick-advises-on-147m-nyc-portfolio-refinancingOutline:(00:00:00) Introduction(00:00:42) Moody’s May Cut Six US Banks on Commercial Real Estate Exposure(00:03:28) Transwestern Brings $41M Industrial Project to Lewisville(00:07:00) Jeffrey Zwick Advises On $147M NYC Portfolio Refinancing Real Estate Authority

U.S. Commercial Real Estate Embraces Energy Storage, Stable Insurance Market, MENA’s Real Estate Resilience, Cybersecurity Concerns

U.S. commercial real estate to host VPP-connected flywheels and batteries. Commercial property insurance market proving more stable and capitalized. Rapid changes in commercial real estate values and risk require increased sector specialization. Cybersecurity concerns on the rise in commercial real estate.Sources:https://www.pv-magazine.com/2024/06/06/u-s-commercial-real-estate-to-host-vpp-connected-flywheels-and-batteries/https://www.insurancejournal.com/?p=778242https://www.zawya.com/en/press-release/research-and-studies/rapid-changes-in-commercial-real-estate-values-and-risk-require-increased-sector-specialisation-jll-sief3x6ghttps://www.biv.com/news/real-estate/cybersecurity-concerns-on-the-rise-in-commercial-real-estate-8996493Outline:(00:00:00) Introduction(00:00:42) U.S. commercial real estate to host VPP-connected flywheels and batteries(00:03:25) Commercial Property Insurance Market Proving More Stable, Capitalized: USI(00:06:43) Rapid changes in commercial real estate values and risk require increased sector specialisation: JLL(00:09:45) Cybersecurity concerns on the rise in commercial real estate

Tax Exemption Law for Commercial Property Improvements Approved, Real Estate’s Net Zero Goals

Watertown City Council approves tax exemption law for commercial property improvements. Major players in the commercial real estate sector make ambitious net zero goals. Plus, one of Billings' oldest commercial buildings is for sale. Oak Creek buys 14 acres next to Amazon fulfillment center for economic development.Sources:https://www.nny360.com/communitynews/business/watertown-city-council-approves-tax-exemption-law-for-commercial-property-improvements/article_bc0938c6-6ca6-5fa4-b3f9-10373b59ebaa.htmlhttps://propmodo.com/the-commercial-real-estate-owners-with-the-most-ambitious-net-zero-goals/https://billingsmix.com/old-buildings-billings-montana/https://www.bizjournals.com/milwaukee/news/2024/06/04/city-of-oak-creek-buys-land-near-amazon.htmlOutline:(00:00:00) Introduction(00:00:42) Watertown City Council approves tax exemption law for commercial property improvements(00:02:56) The Commercial Real Estate Owners With the Most Ambitious Net Zero Goals(00:05:46) One of Billings' Oldest Commercial Buildings is For Sale(00:08:06) Oak Creek buys 14 acres next to Amazon fulfillment center

Real Estate Settlement Reached, Suraj Estate’s Expansion, Student Housing-to-Hotel Conversion

A real estate settlement is reached in a CFO theft dispute. Suraj Estate Developers appoints Dr. Mohit Ramsinghani as Chief Business & Strategy Officer. A major real estate project in Savannah, Georgia, converts student housing into a hotel. Plus, foreign capital invests in domestic commercial real estate.Sources:https://www.law360.com/real-estate-authority/articles/1843007/real-estate-co-nationwide-settle-cfo-theft-disputehttps://www.rprealtyplus.com/newsviews/suraj-estate-appoints-dr-mohit-ramsinghani-as-chief-business-strategy-officer-115409.htmlhttps://www.law360.com/real-estate-authority/articles/1843418/ga-student-housing-to-hotel-conversion-nabs-80mhttps://www.businesskorea.co.kr/news/articleView.html?idxno=218281Outline:(00:00:00) Introduction(00:00:40) Real Estate Co., Nationwide Settle CFO Theft Dispute - Law360 Real Estate Authority(00:02:43) Suraj Estate Appoints Dr. Mohit Ramsinghani As Chief Business & Strategy Officer(00:06:23) Ga. Student Housing-To-Hotel Conversion Nabs $80M - Law360 Real Estate Authority(00:07:38) Foreign Capital Invests 3 Trillion Won in Domestic Commercial Real Estate Last Year

Suraj Estate Appoints Dr. Mohit Ramsinghani, Foreign Capital Invests in Domestic Real Estate

Suraj Estate Developers appoints Dr. Mohit Ramsinghani as Chief Business & Strategy Officer. Foreign capital invests 3 trillion won in domestic commercial real estate last year. Plus, Center City apartment development scrapped, retailer sought for space.Sources:https://www.rprealtyplus.com/newsviews/suraj-estate-appoints-dr-mohit-ramsinghani-as-chief-business-strategy-officer-115409.htmlhttps://www.businesskorea.co.kr/news/articleView.html?idxno=218281https://www.rprealtyplus.com/newsviews/suraj-estate-appoints-dr-mohit-ramsinghani-as-chief-business-strategy-officer-115409.htmlhttps://www.bizjournals.com/philadelphia/news/2024/06/02/trammell-crow-2301-walnut-patriot-development.htmlOutline:(00:00:00) Introduction(00:00:44) Suraj Estate Appoints Dr. Mohit Ramsinghani As Chief Business & Strategy Officer(00:03:29) Foreign Capital Invests 3 Trillion Won in Domestic Commercial Real Estate Last Year(00:06:56) Suraj Estate Appoints Dr. Mohit Ramsinghani As Chief Business & Strategy Officer(00:10:17) Center City apartment development scrapped, retailer sought for space