Take a look at the latest roundup of the week’s top national commercial real estate stories, as reported by our plugged-in and in-the-know CoStar News team.
Major Brokerages Build Out Valuation Practices as Pricing, Transaction Processes Grow Increasingly Sophisticated
JLL became the last of the major global CRE services providers to launch a valuation and advisory practice in the United States. The acquisition has prompted industry speculation about the future U.S. growth plans of JLL, Newmark Grubb Knight Frank, Cushman & Wakefield and others as firms both large and small continue to compete for market share by acquiring or partnering up.
Retailers On the Hunt for Locations That Can Overcome Shifts in Spending, Buying Habits
As a result of ongoing challenges in the malls and shopping center sector, retailers are altering their selection decisions for future locations, according to new CoStar analysis. Also: While a number of retailers are expanding, ongoing challenges also are placing some traditional retailers at higher risk of bankruptcy, according to new analysis from Fitch Ratings.
New CoStar Rating System Enhances Forecasting Performance of Retail Properties
The widening disparity in mall property performance, being driven by changes in demographics, merchandise preferences and consumer buying habits, just got easier to quantify and track this week. CoStar Portfolio Strategy finalized a new ratings system capable of scoring the more than 1.5 million retail properties in the CoStar database.
Clarion Partners Acquires Kendall Square Lab/Office Property for $311 Million
Clarion Partners has acquired 245 First Street, a 305,000-square-foot office and life science complex in East Cambridge, MA, from an affiliate of Atlanta-based Jamestown Properties LP for $311.25 million, or a pretty sweet $1,020 per square foot.