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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 co-working's growing share of office space and the rebound in commercial real estate deal volume.
Today’s issue is sponsored by DealNav - the simple and affordable CRM and deal management tool with an easy interface and integrated map.
CUBE FARM: US co-working space added 2M SF in Q3, reaching 168.4M as smaller locations reshape market. Read more here.
DEAL FLOW: US commercial real estate sales hit $143B in Q3, the highest Q3 volume since 2022, despite rising interest rates. Read more here.
LEASE RELIEF: Four Corners Property Trust acquires record $326M in properties during Q3, funded entirely with low-cost debt. Read more here.
RETAIL THERAPY: Urban Edge Properties reports 4.5% same-property NOI growth and 27% new-lease cash spreads, while continuing to recycle capital through acquisitions and sales. Read more here.
DATA CENTER: Digital Realty files plans for 998,643 SF data center in De Soto, KS, after buying site for approximately $482M. Read more here.
DATA CENTER: Tenant at Edged data center seeks $572M in bonds to purchase server equipment that Kansas City would own and lease back. Read more here.
DATA CENTER: Extreme Crane signs 330,500 SF industrial lease in Virginia's Frederick Co. Read more here.
DATA CENTER: About 2,100 jurisdictions discussed data center restrictions over the 12 months through September. Read more here.
DATA CENTER: Neuberger Specialty Finance arranges $700M facility for Crusoe to finance power-generation equipment supplying its AI data centers. Read more here.
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ENERGY: GE Vernova agrees to acquire high-voltage equipment maker Trench Group for $9B. Read more here.
ENERGY: US Department of Energy closes $5.1B loan package for Alliant Energy projects in Iowa and Wisconsin. Read more here.
ENERGY: MISO selects Ameren, NextEra Energy Transmission, Dairyland Power Cooperative to develop $1.23B Iowa transmission project. Read more here.
GRID: FirstEnergy's transmission subsidiary join federally funded grid modernization pilot in western Pennsylvania to test technologies that could increase transmission capacity and improve reliability. Read more here.
NATGAS: Energy Dept. commits up to $42M to advance proposed 125-mile Constitution natural gas pipeline from Pennsylvania to New York. 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.
