How Salesforce Transit Center Helped Transform A Blighted Neighborhood
At the start of the economic recovery, San Francisco's Transbay District was speckled with underused parking lots and very few options for housing and offices. Now, the neighborhood holds the city's largest office and mixed-use towers, residential high-rises and 100K SF of retail at the $2.4B Salesforce Transit Center that will soon open.
“Salesforce Transit Center has become a reality that generated a building boom in that area,” Transbay Joint Powers Authority Executive Director Mark Zabaneh said. “The minute the developers saw the transit center under construction, they started developing the parcels.”
The…
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Survey: Construction Industry Wastes Over $200B On Avoidable Mistakes, Rework
U.S. construction companies are wasting billions of dollars annually on mistakes, rework and miscommunication. A recent PlanGrid and FMI Corp. survey of 600 construction leaders revealed $177.5B in labor costs are spent fixing mistakes, looking for project data and managing…
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RealtyMogul's REITs Cross $50M Investment Threshold
RealtyMogul's two nontraded, public real estate investment trusts have invested over $50M in properties valued at over $297M.
While crowdfunding platforms started as a place for single-asset real estate investments, they have grown to include REITs and other diversified financing…
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Capital Markets Trio Launches First Public Offering For Crowdfunding Platform That Operates Like A REIT
It can be difficult launching a successful crowdfunding platform due to oversaturation and stigmatization, but commercial real estate investors Jeffrey Karsh, Joseph Kessel and Eliot Bencuya have pulled it off with a new model of investment.
The trio, who boast a collective 40-plus years of experience in commercial real estate investment and more than $5B in transactions, launched crowdfunding platform stREITwise last year. After several months of beta testing, the company plans to officially launch its first public offering Wednesday.
StREITwise is different from its peers in that it is a crowdfunding platform that operates like a nontraded REIT. The company principals, through two separate entities, own and operate the assets they are raising capital to acquire.
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Developers Use Street Festivals To Attract Business
CHICAGO — It is a Sunday afternoon and Lincoln Avenue is shut down for six blocks from Fullerton and Halsted, north to Wrightwood and Sheffield for the 35th annual Taste of Lincoln Avenue. Over the course of the weekend the festival — one of the largest in the city — transforms Lincoln Avenue into a concert venue, outdoor dining pavilion, retail shop and community gathering space.
Underneath a canopy tent a block from the festival's southern entrance is a table manned by two young women, loaded with beer koozies and sunglasses, while a cornhole set bakes in the afternoon sun, waiting for people to play.
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What Office Downturn? Owner Of Iconic Midwest Tower Describes Hunt, Competition To Buy Class-A Buildings
Accesso Partners is a South Florida-based investment firm that owns and manages Class-A office space in fast-growing cities and premier suburbs — currently, 40 properties in 12 states. Despite recent reports of a softening office market, the company is hungry to expand.
Brian Rosen, Accesso's former managing director for acquisitions, was promoted this month to chief investment officer and has a mandate to go looking for properties.
“Accesso continues to have a large appetite for acquiring high-quality office buildings, and Brian is leading the search to acquire them,” Accesso Managing Partner Ariel Bentata said.
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