MAPCO Opts For Complete Renovation Of Its Cool Springs HQ
MAPCO Express Inc., which was sold by Delek U.S. to a Chilean investor last year, has tapped JLL to provide project management for the complete renovation of its corporate HQ in Cool Springs.
Work will begin on the 30K SF facility late this month and be finished in September.
MAPCO is one of the largest company-operated convenience store chains in the United States, and is headquartered at 801 Crescent Centre Drive, near Cool…
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IHG Calls Off Hotel Development In The Gulch
Atlanta-based InterContinental Hotels Group, which had planned to develop a 120-room Staybridge Suites in the Gulch, has decided not to proceed with the development. The company did not specify any reasons for the decision, but it confirmed to the Nashville Post that…
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Hotel Planned For Antioch, Near Global Mall
Global Mall Partnership, a group led by Reita Agarwal and Rajesh Aggarwal, who own the inner core of the former Hickory Hollow Mall, is planning a 120-room extended-stay hotel near the property, now known as the Global Mall at the Crossing.
On…
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Student Housing's 'Economic Resilience' Will Continue To Drive Record Foreign, Domestic Investment In U.S. Assets
As millennials' pursuit of higher education fuels demand for student housing, institutional investors — including private real estate funds, pension plans and sovereign wealth funds — are increasingly stepping in.
A wave of capital flooded the industry last year. Investors poured more than $10B into U.S. student housing assets in 2016, making it the largest transactional year in history, according to ARA Newmark Student Housing Group's 2016 Market Overview report.
The alternative asset has been dubbed "recession proof" because it is not as susceptible to economic volatility as traditional sectors.
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U.S. Office Vacancy Rose In Q1 For The First Time In Seven Years
After a seven-year stretch of shrinkage in the national vacancy rate, the U.S. office market experienced a rare uptick in vacancy during the first quarter of 2017.
Vacancy increased 10 basis points to 13% in Q1, according to CBRE, but the upward trend is expected to be more than just a blip. CBRE predicts that the national vacancy rate will rise to 13.1% by the end of 2017 and 13.3% by the end of 2018.
"We are expecting vacancy will continue to rise over the next couple of years," CBRE Americas head of office research Andrea Cross said.
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