News

Industrial To Remain As CRE Bright Spot In 2020, Economist Says

Commercial real estate prices should even out by 2020, according to the chief economist of the National Association of Realtors.

Dr. Lawrence Yun was one of the speakers at the commercial economic issues and trends forum at the Realtors Legislative Meetings & Trade Expo.

“We may see commercial real estate prices rise for the next year, but I expect them to even out in 2020,” Yun said. “Capital gain returns have grown from 90% with the rise in property prices. We can attribute the growth in commercial building investment spending to job additions and rising occupancy of buildings.”

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Prologis Reportedly Interested In Buying GLP

The biggest initial public offering in real estate history may not happen after all.

Prologis has expressed interest in purchasing the U.S. operations of Singapore-based GLP, Bloomberg reports. GLP had previously been considering an IPO for that portion of its business, reportedly backed by Citigroup and Goldman Sachs and targeting a $20B valuation.

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CBRE Sells Delray Beach Showroom/Office/Warehouse To Real Estate Investor

CBRE Senior Vice Presidents Tom O’Loughlin and Larry Genet represented the buyer in the purchase of a ±58,250 square foot showroom/office/warehouse located at 777 Congress Avenue in Delray Beach.

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