Cummins Inc., a Columbus, Ind.,-based global power solutions company, has leased a 1.1 million-square-foot recently built Class A building at Mohr Logistics Park, a 475-acre industrial campus developed by Mohr Capital in suburban Indianapolis. Cummins is leasing Building 6 at the 475-acre Mohr Logistics Park in Whiteland, Ind. Image courtesy of Mohr Capital The company’s business segments include Components, Engine, Distribution, Power Systems and Accelera by Cummins. Other high-caliber tenants signing leases in the past year at the industrial park include Goodyear, NFI, Turn 14 and DHL. The n ..read more

AZ Development-owned 111 Bain St. houses one of the two coworking locations. Image courtesy of CommercialEdge THRIVE | Coworking has acquired transform GSO, an independent flexible office provider with two coworking locations in Greensboro, N.C. Originally known as HQ Greensboro, the company rebranded in 2020. Following the merger, the locations will be renamed as transform GSO Powered by THRIVE | Coworking. The two flexible office locations total roughly 30,000 square feet, including 74 offices and 11 meeting rooms, as well as open coworking space. The company’s five employees will be retaine ..read more

Supply chain issues from 2021-2022 have eased, but recent incidents in Baltimore and the Panama Canal underline ongoing challenges, according to the latest CommercialEdge report. Massive influx in new supply between 2022-2023 coincided with a slowdown in e-commerce growth. Image courtesy of Travel mania via shutterstock.com The collapse of the Francis Scott Key Bridge will affect regional trade, though won’t cause global disruptions like the Ever Given incident. However, the impact on the East Coast is significant, with rerouted shipping and prolonged reconstruction. Meanwhile, drought affecti ..read more

The tower rises in South End close to a plethora of dining facilities. Image courtesy of Stiles The joint venture between Stiles and Shorenstein Properties has opened 110 East, a 23-story, 370,000-square-foot Class A office building in Charlotte, N.C. Hastings Architecture designed the $186 million development, while Shelco served as general contractor. The partnership broke ground on the project in January 2022 and topped it out in August 2023. Global Atlantic Financial Group provided a $137 million construction loan set to reach maturity in January 2025, according to CommercialEdge informati ..read more

A total of 18 tenants lease space across the eight buildings, the portfolio being 91 percent occupied at the time of sale. Image courtesy of CBRE A joint venture of Redfearn Capital and TPG Angelo Gordon has purchased a 380,589-square-foot industrial portfolio in Jacksonville, Fla. Somerset Properties and CenterSquare Investment Management sold the eight buildings for $47.8 million, according to Duval County public records. CBRE negotiated on behalf of the seller. The properties are: 73,500-square-foot facility at 600 Suemac Road 56,000-square-foot industrial warehouse at 5875 Highway Ave. 58 ..read more

What does the second half of the year hold for CRE? At a time of mixed signals from the economy and the industry, CPE is bringing together a broad spectrum of industry leaders to share their insights. Join Jeb Belford, Managing Director & CIO at Clarion Partners; Jeff DeBoer, Founding President & CEO at The Real Estate Roundtable; Mark Rose, CEO at Avison Young and Ryan Severino, Chief Economist at BentallGreenOak in this informative webinar, where we’ll cover: • Insights on the latest economic and market data • What to expect for investment and the capital markets • How to susta ..read more

The outpatient facility was fully occupied at the time of the sale. Image courtesy of Anchor Health Properties Anchor Health Properties, in partnership with BGO, has acquired a 70,418-square-foot medical office building in Sarasota, Fla. Casto sold the asset for $31.8 million, according to Sarasota County records. The purchase was made through a programmatic acquisitions joint venture that was recently launched. Anchor Health will also provide asset and property management services. The property came online in 2020 and was previously subject to a $17.7 million construction loan in 2019, provid ..read more

With 17.6 percent of multifamily properties built before 1959, many require costly renovations to retain tenants and maintain market appeal.  Following two strong years of multifamily building permit issuance, permit applications for new multifamily construction declined more than 20 percent in 2023, falling in line with pre-pandemic levels.  Build-to-rent starts have surged as lifestyle renting becomes more prevalent.  With nearly one-fifth of multifamily properties now over 65 years old, it’s time to consider solutions for rejuvenating the rental housing stock in the U.S. Wh ..read more

CRE leaders discuss industry issues at DLA Piper’s 2024 Global Real Estate Summit at the Ritz-Carlton Hote in downtown Chicago. Photo: Eva Ho Photography The tone was both guarded and hopeful as industry leaders took stock of the real estate landscape at DLA Piper’s 18th Global Real Estate Summit, “Rebounding Into the Future” in downtown Chicago. During the opening plenary panel on Tuesday, Mike Byrne, CIO & head of private equity and debt at AEW Capital Management, noted that investors have focused on growth for the past 15 years. “But now there’s been dislocation in the markets, and th ..read more

Microsoft Corp. will undertake a $3.3 billion investment package intended to make Southeast Wisconsin “a hub for AI-powered economic activity, innovation, and job creation,” the company announced Wednesday. Building 122 at Microsoft North Campus in Redmond, Wash. Image courtesy of CommercialEdge President Joe Biden joined Microsoft Vice Chair and President Brad Smith for the announcement at Gateway Technical College in Racine, Wis. The investments reportedly will unfold in four phases. In the first, Microsoft will invest $3.3 billion through 2026 to expand its previously unveiled data center d ..read more