NAIOP Says U.S. Commercial Real Estate Outlook Remains Positive

NAIOP’s Spring 2018 CRE Sentiment Index reveals commercial real estate respondents believe, as a group, that overall market conditions 12 months from now (spring 2019) will continue to be favorable for the CRE industry. The Index decreased slightly – from 0.49 in September 2017 to 0.46 in March 2018 – reflecting little change in the overall sentiment from six months ago.

The results are fairly consistent with responses posted over the four prior surveys, going back to March 2016, notes NAIOP. That indicates an expectation of continued but slow growth over the next 12 months. This consistent, positive Index level over the past 24 months is a sign that real estate development is not overheating, and should support an extended real estate market expansion for at least 12 more months.

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Gulf Island Fabrication expands HQ in Energy Corridor

Gulf Island Fabrication will more than double the size of its headquarters in the Energy Corridor with a lease renewal at One Park 10, Transwestern announced.

The Houston-based manufacturer of steel structures and marine vessels has expanded its current lease of 8,045 square feet to 17,156 square feet, Transwestern said. The company serves the oil and gas, power plant, petrochemical and marine transportation industries.

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Mega Cities of the Future Key Challenge: Cyber Risk

According to global property consultant JLL’s new report titled — ‘Clicks and Mortar: The Growing Influence of Proptech’ — cities in Asia Pacific and worldwide are getting smarter, but they must be ready for the cyber security risks that accompany the growing adoption of tech-enabled real estate and infrastructure.

Commissioned by JLL and authored by start-up community Tech In Asia, the report analyses the convergence of real estate and technology in 13 markets across the region and the ways that emerging technologies are being applied to connect urban real estate, infrastructure and services.

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Getty Realty Acquires 30 E-Z Mart Sites

JERICHO, N.Y. — Getty Realty Corp. has closed on the acquisition of the fee interests in 30 convenience-store and gas-station properties from E-Z Mart Stores Inc., a privately owned regional c-store chain in the Southern United States, for about $52 million.

At the same time, a subsidiary of GPM has taken ownership of 273 convenience stores in Texas, Oklahoma, Louisiana and Arkansas from E-Z Mart Stores Inc. in a deal announced in December.

In connection with the acquisition by GPM Investments LLC of E-Z Mart, Getty has leased the 30 properties in all four states to GPM under a unitary lease. The unitary lease provides for an initial term of 15 years, with four five-year renewal options. Rent is scheduled to increase annually during the initial and renewal terms of the lease.

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Rebuffed by Real Estate Lender, Related Weighs a Takeover

Related Cos. is considering nominating a slate of alternative candidates for the board of Ladder Capital Corp. after being rebuffed in a bid to buy the commercial real estate lender, a person with knowledge of the situation said.

Related, founded by Miami Dolphins owner Stephen Ross, is weighing a range of options to influence the management of Ladder Capital, said the person, who asked not to be identified because the discussions are private. It withdrew its offer earlier Tuesday, saying it hadn’t received information from Ladder that could have allowed it to raise an earlier bid for the firm. Related, the lead developer of the Hudson Yards project on Manhattan’s far West Side, owns about 6.5 percent of Ladder.
It was Related, along with Corvex Management LP, that led the 2014 campaign to oust the board of Commonwealth REIT and installed billionaire real estate investor Samuel Zell as chairman of the Chicago-based office landlord.
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Economic Call To Action Issued At Fort Worth BOMA Meeting

Fort Worth’s economic development situation could be boiled down to one phrase: “good news, but . . .” On the positive side, the west side of the Dallas-Fort Worth area is experiencing robust development and growth. The American Airlines headquarters expansion, the Facebook’s data center and various retail, office and residential projects taking place throughout the metro have all made headlines.

However, misperceptions persist about Fort Worth as being little more than a shadow of Dallas, something that Robert Sturns is trying to combat. Sturns, who is the city of Fort Worth’s Economic Development director, discussed some of the issues facing the metro, as well as the recently released “Economic Development Strategic Plan” at the April 3 Fort Worth BOMA meeting.

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