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Good morning. Welcome to CREalts! Every day, we cover the top stories in alternative CRE sectors. One scroll saves you hours. Today, we learn about the record-high real estate secondary market and all-time high container volume at the Port of Los Angeles.
Today’s issue is sponsored by DealNav - the simple and affordable CRM and deal management tool with easy interface and integrated map.
SECONDARY SURGE: Real estate secondary market hits $14.6B record as Goldman Sachs, Ares, Blackstone fuel fund frenzy. Read more here.
GATEWAY GLITCH: Virginia judge voids zoning approval for $15B QTS, Compass data center corridor spanning 2,139 acres. Read more here.
RETAIL REBOUND: Big Lots, Joann, Rite Aid closures fuel $28.5B retail leasing surge; West leads 107% YoY growth. Read more here.
PORT VOLUME: Port of Los Angeles reports record-breaking container volume in July. Read more here.
IOS: Steel Peak buys 15,218 SF industrial building with 2.38 acres of IOS in Salt Lake City for $3.1M. Read more here.
IOS: Alterra IOS expands portfolio with 5.1 acre, 30,000 SF leased industrial outdoor storage site in San Diego’s Otay Mesa submarket. Read more here.
SMALL BAY: BEB Capital provides loans totaling $15.58M for 2 Florida small bay acquisitions. Read more here.
SELF-STORAGE: Hearthfire Holdings unveils Class-A upscale self-storage investment in the Detroit metro area. Read more here.
COLD STORAGE: Eastern Market Partnership breaks ground to modernize Shed 7 in Detroit into equitable regional food distribution hub by 2026. Read more here.
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SENIOR HOUSING: REITs accelerate seniors housing purchases below replacement cost amid soaring demand and constrained supply. Read more here.
SENIOR HOUSING: JLL Capital Markets sells 89-bed Class A seniors housing in Silicon Valley to LTC REIT. Read more here.
STUDENT HOUSING: Uptown Rental Properties opens $29M mixed-use building The Point near University of Cincinnati, offering 190 beds. Read more here.
STUDENT HOUSING: Core Spaces buys 670-bed student housing community Villas on 24th, located in Austin, Texas. Read more here.
BTR: 13th Floor Homes delivers Villas of Torino and Tredici at Central Park, expanding single-family rentals in fast-growing Port St. Lucie, Florida. Read more here.
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LIFE SCIENCE: HHS scraps $500M mRNA vaccine funding, threatening life sciences growth and lab leasing expansion. Read more here.
LIFE SCIENCE: BioMed Realty refinances $1.32B for 1.3M SF MIT Kendall Square campus under Blackstone ownership. Read more here.
LIFE SCIENCE: The Supreme Cos. unveils $500M mixed-use Dedham, Massachusetts, hub with life sciences labs and senior housing. Read more here.
DISTRESSED: Jenny Zhan’s Beyond Holding deploys $50M to buy distressed CRE at deep discounts amid market turmoil. Read more here.
MED OFFICE: CBRE brokers sale of 39,300 SF Mineral Medical Plaza outpatient center in Littleton, Colorado. Read more here.
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ARENA: Spurs pledge $1B to San Antonio’s $3-4B Project Marvel arena and downtown redevelopment. Read more here.
MARINA: Petzold’s Marine Center acquires Port Clinton Marina in Clinton, Connecticut, expanding its shoreline boating presence during its 80th anniversary. Read more here.
MARINA: Walstrom Marine, with Far Side Properties, acquires Viridian building on Michigan’s Grand Traverse Bay, plans marina plus mixed-use development. Read more here.
RV STORAGE: Carefree Covered RV Storage acquires 10 acre Wylie Boat & RV Storage in Texas, expands secure storage portfolio with site upgrades planned. Read more here.
DATA CENTER: Amazon Web Services buys 985 acres in Lamar County, Georgia, for $270M potential data center development. Read more here.
DATA CENTER: Compass Datacenters proposes 340-acre data center in rural North Carolina, faces local opposition over farmland impact. Read more here.
DATA CENTER: Data center vacancy hits 2.3%, record 15.5 GW inventory fueling unprecedented demand and supply constraints. Read more here.
DATA CENTER: Sansone Group and Priseda acquire 214,000 SF Tier 4 data center in White Oak, Maryland, for $29M. Read more here.
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DESTINATION: CedarView development in Cedar Park, Texas, aims to become a premier destination with NFM and Scheels anchors, a convention center, and hotel by 2027. Read more here.
C-STORE: Stewart’s Shops plans to acquire four Sliders Food Mart convenience stores in upstate New York, expanding its regional footprint. Read more here.
NET LEASE: Four Corners Property Trust acquires four Burger King properties in Ohio, Kentucky, and Virginia via $8.1M sale-leaseback with 19-year average lease. Read more here.
NET LEASE: CenterSquare acquires 22,970 SF Shops at Greenlawn retail property in Round Rock, Texas. Read more here.
NET LEASE: Agree Development acquires $76M portfolio of 10 single-tenant retail properties across five states, anchored by Albertsons, national auto service brands, and Dutch Bros Coffee. Read more here.
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Disclaimer: The authors of CREalts are not finance or tax experts. This email is for educational use and not financial advice. Do your own research and consult with professionals before making financial decisions. Our content, which may contain affiliate links and sponsor posts, is subjective and not to be used as the only basis for such decisions. We are not responsible for any losses from relying on this information. Past performance of any asset is not indicative of future results.
