Commercial real estate
* Facebook Inc. is in discussions to lease about 1.5 million square feet at the 2.9 million-square-foot 50 Hudson Yards tower in Manhattan, N.Y., Bloomberg News reported, citing people with knowledge of the matter. The property is owned by The Related Cos. LP and Oxford Properties Group Inc.
Much of the space will be leased at 50 Hudson, but the company is also looking to lease space at 30 Hudson Yards and 55 Hudson Yards, the sources added. The new expected footprint would be 50% higher than previously expected, the news outlet noted.
* Alexandria Real Estate Equities Inc. agreed to buy the nearly three-acre Mercer Mega Block from the city of Seattle for $138.5 million for a mixed-use $1 billion development project, Bloomberg News reported, citing an announcement from Mayor Jenny Durkan. Located close to Amazon.com Inc.'s urban campus, the project will include two new office buildings, a community center and an apartment tower with at least 175 affordable units.
Depending on the progress of the development plans, the site may also get almost 200 additional units, with some of them carrying rent restrictions, the news outlet noted.
* Starwood Capital Group is buying the south campus of the Lantana office complex in Santa Monica, Calif., for $220 million from Artisan Realty Advisors LLC and Brightstone Capital Partners. The Real Deal reported. The two buildings at 3003 and 3301 Exposition Blvd. span 203,000 square feet and are fully leased to Beachbody.
Skydance Media acquired the other two buildings in the complex earlier in 2019 for $321 million, the report noted. Artisan and Brightstone paid $400 million for the full campus in 2016.
* Green Briar West Apartments sold a three-story, 331-unit apartment complex at 9615 S.W. 24th St. in the Westchester neighborhood of Miami-Dade County, Fla., for $55 million, the South Florida Business Journal reported. Star Partners, an affiliate of Westover Cos., purchased the complex, which spans 285,243 square feet on a 17.6-acre site.
* Toll Brothers Inc. purchased the site of the Marrakech Hotel at 2686, 2688 and 2690 Broadway on Manhattan's Upper West Side for $44 million from Branic International Realty, The Real Deal reported.
* Pillar Commercial Inc. purchased a 240,000-square-foot office campus at 3001 and 3101 E. President George Bush Hwy. in northeast Richardson, Texas, for an undisclosed amount through its Pillar Real Estate Fund, the Dallas Business Journal reported. The Richardson Office Center I and II buildings sit on 18 acres of land and were sold by Buchanan Street and Carval Investors.
* Nestlé USA Inc. agreed to lease an additional 50,000 square feet at Monday Properties Services LLC's 35-story, 537,000-square-foot building at 1812 N. Moore St. in Rosslyn, Va., the Washington Business Journal reported. The lease brings Nestle's footprint in the building to 18 floors and more than 300,000 square feet.
* ITRenew Inc. will lease about 315,000 square feet of Kessinger/Hunter & Co. LC's building C in the 330-acre I-35 Logistics Park off 151st Street and South Clare Road in Olathe, Kan., the Kansas City Business Journal reported.
After the bell
* Gaming & Leisure Properties Inc. reported second-quarter funds from operations of $158.6 million, or 74 cents per share, an increase of 37% on a per-share basis from $116.9 million, or 54 cents per share, in the comparable 2018 period.
* RLJ Lodging Trust said in its second-quarter earnings release that it is adjusting its full-year 2019 adjusted funds from operations per share and unit guidance to a range of $1.98 to $2.10 from an earlier range of $2.18 to $2.30.
The day ahead
Early morning futures indicators pointed to a higher opening for the U.S. market.
In Asia, the Hang Seng rose 0.48% to 26,120.77, while the Nikkei 225 was up 0.37% to 20,593.35.
In Europe, around midday, the FTSE 100 rose 0.17% to 7,211.10, and the Euronext 100 gained 1.19% to 1,041.22.
On the macro front
The jobless claims report, the Wholesale trade report, the EIA natural gas report, the Fed balance sheet and the money supply report are due out today.
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Green Street Investors trims stake in majority of REIT holdings in Q2: Green Street Investors held stakes in 26 publicly traded real estate investment trusts on June 30, with holdings in residential REITs aggregating $32.2 million, the most of any property sector.
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